The opening bell brought modest buying pressure across the board, particularly in technology and Internet issues.
Major European bourses were mixed at midday, while Asian markets had another huge day. Japan's
surged 383.30 to 15,480.00, and Hong Kong's
skyrocketed 216.06 to 1,749.01.
For more markets action and news, click
will settle a class-action suit charging that it illegally raised the annual percentage rate on its credit cards. Without acknowledging any wrongdoing, Sears agreed to pay $72 million in cash and coupons to about 3 million customers -- about 24 bucks apiece.
Someone's buying, rather than getting bought by, a Benelux company for a change. Texas utility
is buying Dutch power company
for $2.4 billion over seven years.
For more news on companies and stocks, click
Things are getting worse before they get better in Ecuador. President
has declared a 60-day state of emergency as the country reels from a plummeting sucre and the threat of nationwide strikes. Mahuad has also extended the surprise banking holiday through Thursday.
The antitrust case against
isn't necessarily over yet. The
Federal Trade Commission
is continuing its broader investigation against the chip maker, including the issue of whether it illegally leverages its dominance in microprocessors to force its way into other markets, according to
The Wall Street Journal
Morgan Stanley Dean Witter
to look for companies interested in merging with
to thwart the Web portal's acquisition by
. CMGI CEO David Wetherell noted that a CMGI bid for Lycos is not out of the question.
For more tech news and commentary, click
Banque Nationale de Paris
disrupted the planned wedding of
with a $38 billion hostile bid for
banks. Societe Generale and Paribas are now scrambling to repel the bid.
saga continues. Olivetti has asked
, Italy's stock market regulator, to intervene in Telecom Italia's defensive plan to borrow 10 billion euros and possibly merge with cellular unit
Telecom Italia Mobile
, which Olivetti claims would be illegal as long as its $58 billion tender offer is on the table.
For more international news and commentary, click
At last filling that gaping pothole in the lives of humorists everywhere, former Sen.
(R, N.Y.) announced his next move: He'll be writing an advice column called "Ask Alfonse" for
Have a dumb question relating to finance? Great. Have a
dumb question? Even better. Send it to
MonEmailbag@thestreet.com, and I'll do my best to answer. Include your full name, and please, no questions seeking personal financial advice or regarding personal brokerage disputes. And this reminder: Because of the volume of mail, personal replies can't be guaranteed.
here to read the latest MonEmailbag.