MarketXT, formerly Eclipse Trading, offers after-hours trading to retail clients of Morgan Stanley Dean Witter's (MWD) Discover Brokerage and Mellon Bank's (MEL) Dreyfus Brokerage Services. Clients can trade 200 of the most actively traded New York Stock Exchange and Nasdaq Stock Market issues, 6 p.m. to 8 p.m. EDT Monday through Thursday.
updates the most active issues on both MarketXT and Island ECN in Got a Minute? and in the Evening Update.
also reports how MarketXT's three most active Nasdaq-listed issues finished the Island ECN session
-inspired rally was a distant memory by the end of the trading day as interest-rate jitters easily regained center stage. The
Dow Jones Industrial Average
took a 108.9 point dive, closing at 10,801 after an early gain of more than 100 points. Techs missed even the early rally and tanked too, with the Nasdaq Composite Index off 54.1 to 2814 and
TheStreet.com Internet Sector
index down 8.32 to 617.
The big European indices ended lower, with France's
off 35.37 to 4662.02, while Germany's
ended down 14.29 to 5387.18, and London's
lost 48.3, or 0.8%, to 6067.7
In Hong Kong, the
shed 373.43, or 2.7%, to 13,430. Markets in Tokyo were closed today because of a holiday.
Mergers, Acquisitions and Joint Ventures
announced a health care information pact with
, which will allow tens of millions of AOL users to contact their doctors using the Internet.
, in the wake of a report in
The Wall Street Journal
, issued a statement saying that "no significant acquisition or combination discussions are in progress." The
reported today that
was in merger talks with Bestfoods.
will acquire closely held
of Copenhagen, Denmark, for $65.6 million in stock. Cisco said the acquisition was part of an effort to expand its delivery of broadband access products by adding digital video broadcasting to its portfolio.
is merging with
Hudson United Bancorp
said it plans to exit some of its Asia-Pacific nylon ventures, which will result in a third-quarter charge of up to 35 cents a diluted share. The company said the charge also includes the writedown of a plant in Singapore.
signed a two-year supply deal with
PCS Health Systems
, a mail-order pharmacist and unit of
. The agreement is expected to generate about $800 million a year in incremental revenue.
, a maker of technical drawing software, for $1.3 billion in stock. Under the agreement, each Visio share will be exchanged for 0.45 shares of Microsoft.
confirmed it will acquire
for about $11 billion in stock. The transaction will be accounted for as a pooling of interests, and Motorola expects the acquisition to "modestly dilute earnings" through 2000, but to strengthen earnings thereafter.
said its subsidiary
will team up with
, an online gift shopping service. Good Catalog would contribute property and financing and own 80.1% of the venture, while StarTek would contribute the Internet address "gifts.com," as well as financing and services, for a 19.9% interest.
disclosed late Tuesday they have amended the terms of their pending merger. Under the new terms, each Halter share will be converted to 0.57 of a share of Friede.
Earnings/Revenue Reports and Previews
posted first-quarter earnings of 16 cents a share last night, in line with the 30-analyst expectation and up from 13 cents a year ago. Despite meeting expectations, the stock tumbled to 39 from its closing price of 45 7/16 in postmarket trading on
, suggesting that investors hoped for stronger profits.
third-quarter estimated results to a loss of 31 cents a share from a loss of 20 cents a share.
reported third-quarter earnings of 43 cents a share, above the three-analyst estimate of 39 cents and up from 31 cents a year ago.
Offerings and Stock Actions
says it will plan a tracking stock for its e-commerce unit. The company also said it increased a share-repurchase plan to $300 million from $200 million.
American Home Products
said it received final clearance to market its insomnia drug, Sonata.
started coverage of
with a buy rating.
to attractive from buy.
, a unit of
, said it would increase spending on its transmission and distribution system to $900 million from $800 million, after a number of high-profile outages in the Chicago area this past summer.
J.P. Morgan started coverage of
as a market perform and set a price target of 75.
said it planned to spend $200 million on a marketing drive to attract new customers.
announced plans to extend broadband services to businesses.
Procter & Gamble
said it will change its advertising compensation system and pay its agencies a percentage of its global brand sales.
paid the U.S. and 25 states $7.6 million to settle allegations it falsely submitted prescription claims for state Medicaid and other programs.
Police in Tauranga, New Zealand, are hoping to sniff out an armed assailant by what he hasn't got -- specifically, part of his nose. Attacker Stephen Paul Mapu, 33, was shocked when his victim responded with a Mike Tyson-inspired move and chomped off the end of his nose. Mapu allegedly then shot the man with a small-caliber gun and fled. A police search of the house turned up the nose tip. "It was stored in a glass jar and would be used as a police exhibit as it was no longer likely to be of use to Mapu," reported the
New Zealand Herald