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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (46183)	5/7/1998 8:30:00 AM
From: Glenn D. Rudolph	Respond to of 61433

U.S. HEADLINE STOCKS - Issues to watch May 7 Reuters Story - May 07, 1998 08:04 %US %STX %HOT %AUT %BNK DAIG.F DAI C AOL MEL CMB IMN V%REUTER P%RTR NEW YORK, May 7 (Reuters) - Issues to watch this morning: --U.S. stocks were mostly unchanged in London. -- Germany's Daimler-Benz AG confirmed on Thursday it would merge with Chrysler Corp to form the world's fifth-largest car producer, headquartered jointly in Stuttgart and Michigan. Daimler said the new company, to be called DaimlerChrysler, would enhance earnings for shareholders in both companies and result in cost savings of $1.4 billion next year. Chrysler shares surged 11-3/16 to 60 in London trading after closing at 48-13/16 in New York. -- America Online Inc. reported third-quarter operating earnings a share of $0.16. The First Call consensus estimate had been $0.12. AOL closed at 85-14/16. -- Shares in Mellon Bank Corp. rose in after-hours trade Wednesday amid speculation that Chase Manhattan Corp. would bid for the bank. Mellon shares surged to 79 from a close of 73-1/4. -- Imation Corp. said it would spend $100 million in cash payments in 1998 due to restructuring. The company reported a first quarter share profit of $0.05 versus $0.29 a year ago. Imation closed at 18-15/16.