After spending most of today's session struggling against a weighty load of
negative preannouncements, the major market benchmarks managed to finish in the black.
Dow Jones Industrial Average
added 52.24 to 11,187.36, the
Nasdaq Composite Index
gained 6.30 to 2743.08 and the
advanced 7.74 to 1395.86. But breadth was negative on the major exchanges, helping to send the small-cap
down 3.86 to 452.69. Net stocks veered through the session like a drunken sailor ahead of
TheStreet.com Internet Sector
index lost 11.45 to 653.85.
The 30-year Treasury bond fell 4/32 to 89 2/32, its yield rising to 6.05%.
The big European indices all finished solidly lower.
Asian markets lost ground overnight, as Hong Kong's
dropped 115.17 to 14,257.44, while Tokyo's
fell 91.83 to 17,958.90.
More markets news and commentary is available in
posted second-quarter earnings of 64 cents a share, a penny over the 16-analyst
consensus and up from last year's 62 cents.
said it will exchange its $2.85 billion in
stock -- 50.3 million shares -- for AT&T cable TV networks with 495,000 customers. Cox said that it will also get $750 million in "other consideration, including cash," under the deal.
set plans to lay off or reassign about 1,300 of its 15,000 workers at as it reorganizes its coatings manufacturing business.
said its North American president,
, is leaving to join
at the end of the month. He'll join Wolfgang Reitzle, former head of product development at BMW, at Ford's
Premier Automotive Group
It might be time for
to file a restraining order. Yesterday the housewares manufacturer's board unanimously rejected the third takeover offer from rival
, this time worth about $637 million, or $37.50 a share. Oneida issued a rather spooky statement calling the bid "illusory" and said that Libbey's desire to negotiate is "nothing more than efforts to obtain access to Oneida's confidential and proprietary business information."
U S West
wants a combination with
to be structured as a merger of equals rather than a takeover,
The Wall Street Journal
reported, citing people familiar with the situation. U S West has already signed on a merger of equals with
More news on companies and stocks is available in
Stock News section.
opened its online music store today, celebrating the launch with -- ooh! ooh! -- a free download of
Online music retailer
enjoyed a strong trading debut today, gaining 9 15/16, or 71%, to 23 15/16 after being priced last night at $14 a share by lead underwriter
Ferris Baker Watts
Business software maker
New Era of Networks
last night warned it will report a second-quarter loss of 12 to 22 cents a share, significantly below the nine-analyst prediction for a repeat of the year-ago profit of 12 cents.
set an alliance to collaborate on a number of Internet-based initiatives, including the development of high-speed content to be deployed over RCN's fiber-optic network.
Yahoo! inked a broad marketing deal with U.K. pay-TV broadcaster
British Sky Broadcasting
. The deal covers Yahoo!'s U.K. and Ireland properties.
More tech news and commentary is available in
Tech Stocks section.
International Monetary Fund
approved a $4.12 billion loan to Mexico. The loan will come in seven installments over 17 months, according to an IMF spokesman.
, Turkey's economic minister, shot himself in the head today amid allegations that his ministry leaked an
International Monetary Fund
document to a brokerage firm owned by a cousin of former Prime Minister
. Ulugbay is not in life-threatening condition, as the bullet missed his brain.
Hillary Rodham Clinton
officially announced her candidacy for the U.S.
in a speech today at Sen.
Daniel Patrick Moynihan's
farm outside Oneota, N.Y. Mrs. Clinton declared that she was forming an exploratory committee yesterday in a single-page document filed with the
Federal Election Commission
German insurance colossus
is in talks to buy all or part of U.S. fund-management firm
in a deal worth as much as $5 billion, according to
The Wall Street Journal Europe
, which cited people familiar with the situation.
Realigning to fit the contours of the new eurozone, Dutch bank
is combining its corporate and retail banking operations in the
and Switzerland into a single division.
Securities and Exchange Commission
sent Irish drug firm
a comment letter in January raising questions about its accounting procedures,
The Wall Street Journal
reported. Elan said it expected the SEC inquiry to be resolved in the next couple of weeks.
explored the accounting issues at Elan.
More international news and commentary is available in
Sure, getting gored by a bull in Pamplona is a blast, but there are subtler ways to reckon with the animal kingdom. A man's naked corpse was discovered draped across a killer whale's back in a tank at
Sea World Orlando
yesterday morning. While the man's mode of death isn't yet clear,
quoted the theme park's general manager as saying, "We believe this might have been a man who was seen around the park for several days, taking an interest in the whales."
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