 |
|
National Business Minute
|
 |
Related Links |
|
|
|
|
|
|
|
NEW YORK Stocks fell again as investors continued to dwell on bad news, in this case earnings disappointments from technology companies including e-Bay. The Dow sank another 68 and a-half points to ten-thousand-471, the Nasdaq composite fell about 28 and the S-and-P 500 was down nine points. SAN JOSE, Calif. (AP) _ E-Bay's stock price dropped more than 19 percent amid criticism from analysts following the Internet auctioneer's weaker-than-expected fourth-quarter earnings report and 2005 outlook. In the words of one analyst, "The bloom is off the e-Bay rose."
DENVER (Dow Jones/AP) _ Analysts say regulators may not look too kindly on a merger of Federated Department Stores and its rival May Department Stores. A Wall Street Journal story that the two are talking helped to send shares of May up nine percent, while Federated fell three percent.
RICHMOND, Va. (AP) _ In a kind of good news that's hard to come by in the battered U-S textile industry, a federal judge has approved Dan River's plan for emerging from bankruptcy next month. The reorganized company will be much leaner, as Dan River has closed facilities and cut hundreds of jobs.
PHILADELPHIA (AP) _ More than 250 lawyers have met at a Philadelphia hotel to share strategies for suing Merck over Vioxx, the painkiller that's no longer on the market because of heart risks. The drug company is already facing an estimated 700 lawsuits, and the number is likely to grow.
Copyright 2005 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
|
|
|
