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To: larry hart who wrote (3443)	7/13/1999 10:04:00 AM
From: SSP	Respond to of 150070

Stocks sag on overseas fears By Kevin N. Marder, CBS MarketWatch Last Update: 9:55 AM ET Jul 13, 1999 NEW YORK (CBS.MW) -- U.S. stocks sold down across the board early Tuesday in response to weaker Latin American markets. At 9:46 a.m. ET, the Dow Jones Industrial Average declined 105.12 points, or 0.9 percent, to 11,096.66. The Nasdaq Composite fell 1.2 percent. The Standard & Poor's 500 Index sank 0.7 percent. The Russell 2000 Index of small-capitalization stocks declined 0.8 percent. In the bond market, the 30-year Treasury rose 12/32, to yield 5.877 percent. See Bond Report. New York Stock Exchange losers decimated winners by 3 to 1. Decliners beat advancers by 2 to 1 in the Nasdaq Stock Market. Big Board volume totaled 55 million shares. PaineWebber (PWJ: news, msgs) fell 1 to 44 1/2. The broker said second-quarter profit totaled $1.02 a share compared to $1.01 in the year-ago period and First Call's estimate of 94 cents. See full story. Merrill Lynch also handily beat Wall Street estimates. The brokerage giant posted second-quarter earnings per share of $1.57 compared to First Call's estimate of $1.46 and $1.31 in the year-ago period. Shares declined 1 1/4 to 76 5/8. Monday, Merrill shocked Wall Street with its announcement that President Herb Allison will leave the company after 28 years. See full story. Shares of Amgen (AMGN: news, msgs) added 6 1/8 to 72 1/8. The biotech giant said it earned 50 cents a share, 4 cents better than the First Call estimate and 9 cents richer than the year-ago figure. See full story. Vitesse Semiconductor (VTSS: news, msgs) reported fiscal third-quarter net of 24 cents a share, a penny more than the First Call projection and 6 cents above the year-ago tally. The stock lost 6 to 65 3/4. LaserVision Centers (LVCI: news, msgs) set a 2-for-1 stock split payable Aug. 9 to shareholders of record on July 23. The stock added 2 1/8 to 69 5/8. See latest commodity prices and currency rates. Kevin N. Marder is Markets Editor for CBS MarketWatch