Bombs and markets have their own ineluctible logics. After lazing around break-even for most of the day, stocks strenthened toward the close, even as
fighter planes were lighting up the skies over the former Yugoslavia. Blue-chips ended mixed, but the
Nasdaq Composite Index
rode a late surge in its bellwether technology issues to close sharply higher. The Net sector never got it together, having languished in shallow negative territory all day long.
Dow Jones Industrial Average
lost 4.99 to 9666.84; the
shed 6.45 to 1268.59; the Nasdaq gained 42.42 to 2365.26; the small-cap
added 1.03 to 384.40; and
TheStreet.com Internet Sector
index shed 2.70 to close at 594.11.
International markets didn't look any livelier. Far from it -- European bourses closed sharply lower, while Asian markets plummeted again, with Hong Kong's
losing 329.67 to 10,711.34 and Japan's
sinking 503.63 to 15,515.47 on more fiscal year-end selling.
For more markets action and news, click
is dumping its pension plan in favor of a hybrid stock-option program for employees.
today said it has named William B. Harrison, Jr. CEO and president. Harrison replaces Walter V. Shipley as chief executive and will take over for President Thomas G. Labrecque on June 1. Shipley will retain his position as chairman of the board.
announced yesterday that it will acquire the credit-card business of
for an undisclosed amount.
Shares of upscale office furniture maker
are soaring on news that majority investor
Warburg Pincus Ventures
has made a takeover offer of $25 a share, totaling about $425 million. Knoll was lately up 8 13/16 to 24 1/6.
today announced plans to buy 20% of
, a unit of Canadian telecom holding company
. Yesterday the
yesterday approved Ameritech's acquisition by
on the condition that the companies sell cellular operations in 17 markets. The
Federal Communications Commission
is still looking at the deal.
For more news on companies and stocks, click
plans to slash up to 1,000 jobs as it reorganizes after its acquisition of
. AOL said that as many as 500 of these cuts will come from Netscape's workforce.
last week AOL would lay off Netscape workers.
Another big parts supply contract for
. Weeks after it inked a $16 billion parts deal with
, IBM said it will sell $3 billion of components over five years to computer-storage company
For more tech news and commentary, click
NATO war planes are pounding Serbian targets tonight in the organization's first ever offensive action against a sovereign nation. Russian President
said he was "shocked" by the bombings and that his country would cease cooperation with NATO.
House of Lords
today ruled that Gen.
is not entitled to immunity. But the court also said that he cannot be tried for any human rights abuses before the U.K. signed the International Convention Against Torture in 1988, thereby making moot most of the warrant on which Pinochet was arrested in Britain. Spain will still seek Pinochet's extradition on pre-1988 charges of human rights violations.
today released figures showing durable goods orders declining 5% for the month of February, the largest drop in more than seven years.
leaders today named former Italian Prime Minister
president of the
must approve his appointment.
U.K. telecom giant
Cable & Wireless
may sell or take public
One 2 One
, their jointly owned U.K. mobile phone company, according to
For more international news and commentary, click
Catering to sports fans' rapacious appetite for
neologisms -- think "three-peat" -- the two-time defending Stanley Cup champion
Detroit Red Wings
made some monster acquisitions yesterday ahead of the
trading deadline. The Wings picked up left winger
Tampa Bay Lightening
New York Rangers
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.