You can open your eyes now.
Against many investors' greatest fears, stocks held their ground nicely today, with technology stocks -- which took the brunt of yesterday's beating -- snapping back particularly strongly. The
Nasdaq Composite Index
gained 29.35 to 2761.53, and
TheStreet.com Internet Sector
index picked up 21.61 to 615.34.
Blue-chips and small-caps were more mixed. The
Dow Jones Industrial Average
gained 6.65 to 11,002.78; the
rose 2.17 to 1379.27; and the
advanced 1.07 to 454.62.
The big European indices finished solidly lower, with Germany's
and the London
all losing more than 1%.
Asian markets went south overnight. Hong Kong's
lost 180.74, or 1.3%, to 13,419.66, while Tokyo's
shed 265.06, or 1.5%, to 18,257.52.
More markets news and commentary is available in
is buying fiber-optic carrier
for about $3.2 billion, including assumed debt. Under terms of the deal, each share of IXC stock will be converted into 2.0976 shares of Cincinnati Bell stock.
Johnson & Johnson
set plans to buy biotech company
for $4.9 billion in stock, or about $61 a Centocor share, based on yesterday's closing prices.
agreed to sell its school bus business to Britain's
for $940 million in cash.
United Parcel Service of America
filed today with the
Securities and Exchange Commission
for an initial public offering of about 10% of its common stock.
Morgan Stanley Dean Witter
will be the lead underwriter of the offering.
More news on companies and stocks is available in
Stock News section.
is considering establishing a physical presence by setting up kiosks inside bricks-and-mortar retail chains, according to a person familiar with the matter.
the story this morning.
gained 6, or 50%, to 18 1/16 in its first day of trading, having been priced at $12 a share last night by lead underwriter
Hambrecht & Quist
, an online provider of business information, advanced 8, or 57.6%, to 22 in its trading debut. Lead underwriter
J. P. Morgan
priced the stock last night at $14 a share, at the top of its pricing range.
picked up 5 7/16, or 22.2%, to 29 15/16 in its first day on the market. Lead underwriter
Donaldson Lufkin & Jenrette
priced Insight yesterday at $24.50 a share, above its pricing range of $21-$23.
was surging 35 5/16, or 126.1%, to 63 5/16 after the IPO was priced by
Credit Suisse First Boston
at a whopping $28 a share, above its $24-$26 range. MP3.com had earlier traded as high as 92.
More tech news and commentary is available in
Tech Stocks section.
released figures showing June
at a seasonally adjusted rate of 1.57 million units, down 5.64% from May.
Divers have located the body of
John F. Kennedy Jr.
, along with the wreckage of his airplane, off the coast of Martha's Vineyard.
agreed to sell its pub business to
for about $4.4 billion.
will supply more than $100 million worth of digital subscriber line equipment to Internet access provider
More international news and commentary is available in
How's this for some legal advice: 1980s pop star
and her former manager, Sergio Andrade, disappeared months ago amid allegations that the pair had lured underage girls into having sex with Andrade. Her lawyer, Francisco Gastelum, explained that they had "every intention" of presenting themselves to the authorities for questions. But he added that, after hearing that the police had issued an arrest warrant for Trevi, they immediately decided to hide.
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