sonki: Infobeat closing bell stories
Symbol Security Close Change Volume
(00s)
AOL <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=AOL> America Online Inc. 85 1/8ÿ -2 ÿ 36876ÿ
CMGI <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=CMGI> CMG Info Svcs. Inc. 43 7/8ÿ -1 5/8ÿ 8928ÿ
CDN <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=CDN> Cadence Design Systems Inc. 31 1/8ÿ -1 1/8ÿ 4514ÿ
SCH <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=SCH> Charles Schwab Corp 31 3/8ÿ -1 5/8ÿ 12496ÿ
CSCO <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=CSCO> Cisco Systems Inc. 78 1/4ÿ - 7/8ÿ 76686ÿ
CCI <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=CCI> Citicorp 144 1/2ÿ -7 3/16ÿ 28637ÿ
CPQ <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=CPQ> Compaq Computer Corp 27 1/8ÿ -1 ÿ 122537ÿ
DELL <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=DELL> Dell Computer Corp 80 1/4ÿ -2 5/8ÿ 125000ÿ
DIA <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=DIA> Diamonds Trust 86 ÿ -2 9/16ÿ 6174ÿ
DUK <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=DUK> Duke Energy Corporation 62 9/16ÿ + 11/16ÿ 7827ÿ
EK <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=EK> Eastman Kodak Co 67 15/16ÿ -1 15/16ÿ 11745ÿ
GE <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=GE> General Electric Company 83 7/8ÿ -1 3/8ÿ 48182ÿ
HD <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=HD> Home Depot Inc. 78 3/4ÿ -2 7/16ÿ 15857ÿ
IBM <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=IBM> IBM 112 1/4ÿ -4 ÿ 42037ÿ
INTC <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=INTC> Intel Corporation 66 7/8ÿ -1 9/16ÿ 133085ÿ
LU <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=LU> Lucent Technologies 71 ÿ -2 ÿ 31607ÿ
MCIC <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=MCIC> MCI Communications Corporation 50 9/16ÿ + 3/4ÿ 51355ÿ
MRK <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=MRK> Merck And Co. Inc. 124 ÿ -2 7/16ÿ 21650ÿ
MSFT <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=MSFT> Microsoft Corporation 85 15/16ÿ + 3/16ÿ 107115ÿ
MOT <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=MOT> Motorola Inc. 49 1/16ÿ -1 1/16ÿ 21787ÿ
PFE <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=PFE> Pfizer Inc. 108 ÿ -1 5/16ÿ 31414ÿ
MO <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=MO> Philip Morris Companies Inc. 36 7/8ÿ - 7/16ÿ 39557ÿ
PG <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=PG> Procter And Gamble Co 84 13/16ÿ - 7/16ÿ 14925ÿ
QWST <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=QWST> Qwest Communications Intl Inc 27 7/8ÿ -2 3/4ÿ 28491ÿ
SPY <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=SPY> Standard And Poors Dep Receipts Uts. 107 33/64ÿ -2 57/64ÿ 102342ÿ
MDY <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=MDY> Standard And Poors Mid Cap Dep Rec 66 1/16ÿ -1 31/32ÿ 3006ÿ
SUNW <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=SUNW> Sun Microsystems Inc. 41 3/8ÿ -1 1/16ÿ 30951ÿ
TBR <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=TBR> Telecommunicaoes Brasileiras Sa 101 ÿ -5 1/2ÿ 50679ÿ
VVUS <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=VVUS> Vivus Inc. 6 5/16ÿ - 11/16ÿ 6404ÿ
WMT <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=WMT> Wal Mart Stores Inc. 56 9/16ÿ -2 1/4ÿ 33528ÿ
WLA <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=WLA> Warner Lambert Company 60 1/16ÿ -2 9/16ÿ 38840ÿ
WCOM <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=WCOM> Worldcom Inc 43 1/8ÿ + 5/8ÿ 120927ÿ
YHOO <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=YHOO> Yahoo Corporation 115 1/4ÿ +1 7/16ÿ 33727ÿ
FSAIX <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=FSAIX> Fidelity Select Air Transportation 27.98ÿ -0.34ÿ ÿ
FSPHX <http://www.investools.com/cgi-bin/T/charts/MERC?symbol=FSPHX> Fidelity Select Health Care Port. 116.50ÿ -2.41ÿ ÿ
DJIA Dow Jones 30 Industrials 8,627.93ÿ -207.01ÿ ÿ
Click on a symbol to see its performance graph over the past year.
America Online Inc. (AOL)
CYBERSHOP INTL said that congestion on its computer systems had hurt sales, but sales in April and May had doubled from a year earlier. CyberShop said it has experienced a slowdown in the growth of orders from its store on AMERICA ONLINE's online service. "During the peak Mother's Day holiday (May 10) buying period, the company's computer systems experienced significant congestion on its Web store, which negatively impacted sales," the company said. CyberShop did not detail its sales figures. In May, the company reported first quarter revenues of $422,000. (Reuters 08:53 AM ET 06/15/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554637036-f5e>
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Cisco Systems Inc. (CSCO)
NORTHERN TELECOM LIMITED's bid to buy BAY NETWORKS INC will help it realize the dream of creating Internet-based pipelines that can handle both voice and data with ease and reliability. The $9.1 billion deal will create a telecommunications giant with annual sales of more than $17.7 billion and a workforce of 80,000 employees. Nortel is already the sixth largest telecommunications equipment maker in the world. Nortel forecasts that before acquisition-related items, the deal will dilute its earnings per share in 1998 but will be slightly accretive in 1999. Toronto analyst Ian Angus said that Nortel was forced to buy a partner to fight rivals such as CISCO SYSTEMS INC in the growing communications field. (Reuters 05:33 PM ET 06/15/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554642112-d78>
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Compaq Computer Corp (CPQ)
IBM (IBM)
IOMEGA CORP said its high-density Zip drive will be available as an option in two IBM commercial personal computer lines, the 300GL and the 300PL, in the 3Q. "IBM's commercial PCs, combined with Iomega's popular Zip drive, offer business customers an affordable way to extend their PC investments while improving their productivity," Roy, Utah-based Iomega said in a statement. Separately, Iomega said its notebook Zip drives will now be available in notebook PCs from COMPAQ COMPUTER CORP, Toshiba Corp and IBM. The new Zip drives are the first notebook bay drives to be branded and marketed by Iomega and are expected to be available for an estimated street price of $199 during the 3Q. (Reuters 10:43 AM ET 06/15/98)
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Eastman Kodak Co (EK)
EASTMAN KODAK today will unveil four digital camera kits, aimed at professional photographers and Web designers, that use software from Live Picture Inc., former APPLE COMPUTER CEO John Scully's new venture. The Kodak kits will allow photographers to take panoramic digital pictures that capture the entire view from a particular spot. Kodak will pitch the kits to professionals who are setting up virtual reality Web sites to display things like real estate, resorts, cityscapes or crime scenes. For example, computer users would be able to see every spot in a living room. (Reuters 08:10 PM ET 06/12/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554601892-7a2>
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General Electric Company (GE)
GENERAL ELECTRIC CO's unit GE Capital Mortgage Services Corp plans to expand its business in San Bernardino, Calif., creating 500 new jobs over the next two years, California Gov. Pete Wilson said Friday. GE Capital Mortgage, which specializes in mortgage loan processing, will add 500 jobs to its current workforce of 650. The company expects to complete the expansion by late this year, Wilson said. (Reuters 05:06 PM ET 06/12/98)
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General Electric Company (GE)
The Czech National Bank (CNB) said that its board had agreed to terms with GENERAL ELECTRIC CO unit GE Capital on the sale of part of the sound assets of troubled Agrobanka (AGB). "On (June 22) AGB depositors will become clients of GECB (GE Capital Bank a.s.) under the same terms. The new bank operation will continue to use the Agrobanka name and will provide its usual products and services through all existing units," the CNB said in a statement. (Reuters 06:55 AM ET 06/15/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554635735-902>
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IBM (IBM)
WESTERN DIGITAL CORP said it has signed a definitive agreement with IBM, completing plans announced in May. The pact covers the supply of hard disk drive components and technology, as well as a design licensing relationship, the company said Saturday in a statement. "Under the agreement, IBM will supply Western Digital with its leading areal-density giant magnetoresistive heads, as well as other electronic components which include IBM embedded firmware," the statement said. (Reuters 08:27 PM ET 06/14/98)
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MCI Communications Corporation (MCIC)
A U.S. District court Judge late Friday denied an attempt by CABLE AND WIRELESS to prevent MCI from selling Internet assets to any firm other than Cable & Wireless within the next 10 days. MCI last month agreed to sell its wholesale Internet business to Cable & Wireless for $625 million to appease anti- trust regulators opposing MCI's merger with WorldCom Inc. But regulators said the sale was insufficient and MCI is planning to sell additional Internet assets. Judge Thomas Penfield Jackson said that, while he would immediately deny Cable & Wireless' request for a temporary restraining order, he would later consider the company's request for preliminary and permanent injunctions. (Reuters 04:14 PM ET 06/12/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554600112-209>
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MCI Communications Corporation (MCIC)
Worldcom Inc (WCOM)
WORLDCOM INC and MCI COMMUNICATIONS CORP had not made any new offers by late Friday afternoon to win European Union approval for their $37 billion merger, a Commission official said. But the European Commission, the EU's antitrust watchdog, remained confident that the U.S. telecommunications firms would make fresh concessions next week to address regulatory concerns over their combined dominance of the Internet "backbone" business, the high-speed lines that carry data over the global computer network. A source close to the companies was also optimistic the deal would get regulatory clearance. (Reuters 04:37 PM ET 06/12/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554599681-f81>
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Merck And Co. Inc. (MRK)
ASTRA AB will unveil a buy-out deal from its U.S. joint venture partner MERCK AND CO. INC. this Wednesday, Swedish daily Dagens Industri said on Monday. The agreement will allow Astra from day one to pursue a merger or takeover offer, the daily said. Astra said in early June discussions were underway with Merck over "restructuring" jointly owned Astra Merck Inc that has marketed Astra's drugs in the U.S., equally dividing profits between the two companies, since November 1994. (Reuters 04:52 AM ET 06/15/98)
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Microsoft Corporation (MSFT)
Late Friday, MICROSOFT CORP Chairman Bill Gates sharply criticized the government's landmark antitrust suit against the software giant in a letter to The Economist magazine. "America's antitrust laws do not provide any basis fpr government regulators to design software products," Gates wrote in a letter to the magazine in response to an article it had published earlier. The letter was posted on the magazine's Web site. "Contrary to the government's central accusation, Microsoft planned the integration of Internet technology into Windows well before Netscape was even formed, and long before it shipped its first browser in October 1994," Gates said in the letter. (Reuters 11:50 PM ET 06/12/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554604585-313>
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Motorola Inc. (MOT)
MOTOROLA INC.'s Semiconductor Products Sector agreed to purchase a minority-share stake in NEOWARE SYSTEMS INC. Financial details weren't disclosed. In a press release Monday, Motorola said it plans to collaborate with Neoware under the multi-year agreement to develop thin-client technologies. Motorola said it will use its core technologies with Neoware hardware and software focused on the Windows-based terminal market. (Reuters 11:57 AM ET 06/15/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554638916-292>
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Motorola Inc. (MOT)
TOWER SEMICONDUCTOR LTD is seeking an international partner to help it build a $1.2 billion chip fabrication plant in Israel, Tower's co-chief executive, Rafi Levin, said. "We are in negotiations with several foreign companies about building a new factory," Levin told Reuters. He declined to name the companies, but the Israeli newspaper Ha'aretz reported on Monday that Tower was in negotiations with MOTOROLA INC. Tower, a semiconductor foundry, has been seeking to add capacity. (Reuters 03:01 PM ET 06/15/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554640644-a92>
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Pfizer Inc. (PFE)
German Health Minister Horst Seehofer said he was against the PFIZER INC.'s anti-impotence drug Viagra being available on prescription in Germany. "It would cost the health system a double-digit amount of billions of marks," he told journalists in Bonn. Only in cases where a patient was known to be suffering from a specific illness could doctors prescribe it, he added. Otherwise men complaining of potency problems would have to pay for it themselves. Seehofer, answering questions after a news conference on another subject, said he expected authorities to approve distribution of the drug formally in Germany by September. (Reuters 04:44 PM ET 06/15/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554641628-948>
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Qwest Communications Intl Inc (QWST)
QWEST COMMUNICATIONS INTL INC and Internet service provider, CAIS Internet -- a CGX Communications Company -- announced a 10-year, $100 million agreement where Qwest will provide CAIS leased and routed IP bandwidth on the 18,449-mile domestic Qwest Macro Capacity(SM) Fiber Network. This agreement expands CAIS's nationwide Internet network from five to approximately 130 cities, helping facilitate CAIS's rollout of its OverVoice technology to hotels and apartment buildings across the nation. Qwest's planned domestic 18,449 mile network will serve over 130 cities, which represent approximately 80% of the data and voice traffic originating in the United States, upon its scheduled completion in the 2Q of 1999. (BusinessWire)
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Telecommunicaoes Brasileiras Sa (TBR)
Brazil's general election battle unofficially began this week with a heated exchange between President Fernando Henrique Cardoso's government and his top political rival which analysts said could set a nasty tone for the campaign. Cardoso is considering suing left-wing leader Luiz Inacio Lula da Silva for character defamation after he suggested the president was selling off state assets at rock-bottom prices to line his campaign coffers. Lula made the accusation after Brazil this week set the minimum price for the privatization of TELECOMMUNICAOES BRASILEIRAS SA at 13.5 billion reais ($11.7 billion). (Reuters 04:41 PM ET 06/12/98) For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554599723-f9e>
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Wal Mart Stores Inc. (WMT)
WAL MART STORES said it may spend about $12 million to convert its date-sensitive systems and equipment to be ready for the year 2000. Nearly 72% of the required conversions have already occurred and it is anticipated that all remaining conversions will be in fiscal 1999, the company said. The company's conversion comes in anticipation of the so-called year 2000 bug which arises because many older computer systems record dates using only the last two digits of the year. If left uncorrected, such systems could treat the year 2000 as the year 1900, generating errors or system crashes. (Reuters 03:19 PM ET 06/15/98)
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Dow Jones 30 Industrials (DJIA)
MARKET NEWS: The Dow slid to a three-month low by the close on Monday after rekindled worries about Asia's finances triggered a fresh rout in global stocks with investors seeking safety in the dollar and bonds. The Dow ended off 207 points, or 2.34%, at 8628, its lowest since 8602 on March 13. It was the Dow's fifth biggest points drop. The S&P 500 fell 22 points to 1077. The Nasdaq shed 29 points, or 1.68%, to 1715. On the NYSE, declining issues raced ahead of advances by a wide three-to-one margin on moderate volume of 586 million shares. As stocks slid, the dollar and bonds rose. The benchmark 30-year Treasury bond was up 1-3/32, pushing the yield to a record low of 5.59%. The dollar traded at eight-year highs of 146 yen. For the full text story, see full story <http://www.infobeat.com/stories/cgi/story.cgi?id=2554642131-6f1>
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