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By BLOOMBERG NEWS | February 12, 1997
NEW YORK -- U.S. stocks rose yesterday, powered by a late-day rebound in International Business Machines Corp., as investors reappraised the profit outlook for the bellwethers of the computer industry.Cisco Systems Inc., Microsoft Corp. and other computer shares recovered from a sell-off that began last week when analysts warned that Intel Corp. may not duplicate its 1996 growth rate. Semiconductor and software stocks led the market to records last year.The Dow Jones industrial average closed 51.57 higher at 6,858.
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BUSINESS
By Bloomberg Business News | March 11, 1993
NEW YORK -- U.S. stocks closed higher yesterday as the market weathered concern about struggling Treasury bonds.The Dow Jones industrial average set its third successive closing high, rising 6.22, to 3,478.34. The index rebounded in the afternoon from a session low of 3,449.43. The gain followed a report released by the Federal Reserve System that showed the economy and employment conditions improving in early 1993."The economy is on frail legs, but it's recovering," said Hugh Johnson, investment strategist at First Albany Corp.
BUSINESS
By BLOOMBERG BUSINESS NEWS | May 18, 1996
NEW YORK -- U.S. stocks soared into record territory again yesterday, bolstered by stable interest rates and fueled by record purchases of stock mutual funds.The Standard & Poor's 500 index and the Nasdaq composite index set records, as did the American Stock Exchange's market value index and the Russell 2,000 index, which tracks small and mid-size companies.With Philip Morris Cos. and International Business Machines Corp. leading the way, the Dow Jones industrial average rose 52.45 to 5,687.
BUSINESS
By BLOOMBERG NEWS | November 19, 1997
NEW YORK -- U.S. stocks fell yesterday for the first time in four days amid lingering concern that slowing Asian economies will cut U.S. corporate profits. Avon Products Inc. plunged after warning of lower overseas earnings.The Dow Jones industrial average fell 47.40 to 7,650.82, after rising 4 percent in the last three days. The Standard & Poor's 500 index fell 7.97 to 938.23. The Nasdaq composite index lost 13.67 to 1,600.44.Schlumberger Ltd. and other oil field service and equipment stocks, some of this year's best-performing shares, tumbled the most as investors sold them in favor of other shares with more potential for gains.
BUSINESS
By BLOOMBERG NEWS | January 1, 1999
NEW YORK -- U.S. stocks were mixed yesterday, but the Nasdaq composite index, full of software, semiconductor and computer makers' shares, set another record. It rose 25.74 to close at 2,192.69 and finish the year with a 40 percent gain.The Nasdaq-100 index of the Nasdaq market's largest stocks finished the year up 86 percent, the best showing in its 14-year history.Large shares fell, but small companies had their best day in two months as investors completed tax-related selling on the final day of 1998.
BUSINESS
By BLOOMBERG BUSINESS NEWS | January 22, 1997
NEW YORK -- U.S. stocks set several records yesterday, as Chrysler Corp. and Exxon Corp. added to the steady stream of unexpectedly strong fourth-quarter profits."
BUSINESS
By BLOOMBERG NEWS | May 9, 1997
NEW YORK -- U.S. stocks jumped yesterday as bonds rose and optimism reigned for corporate profits.Oil, telephone and computer companies all gained. The Dow Jones industrial average rose 50.97 to 7136.62, snapping back from Wednesday's 140-point swoon. Computer-guided "sell" programs in the last half-hour cut the Dow's gains by half.International Business Machines Corp. paced the advance, rising to $167.375.The Standard & Poor's 500 index rose 4.66 to 820.28, as Exxon Corp., Wal-Mart Stores, Intel Corp.
BUSINESS
By BLOOMBERG NEWS | September 23, 1998
NEW YORK -- U.S. stocks were mixed yesterday as investors bought drugmakers such as Pfizer Inc. as havens from slowing )) economies worldwide.Coca-Cola Co., which gets 85 percent of its revenue abroad, dragged down the Dow Jones industrial average. The Dow fell 36.05 to 7,897.20, with Coke accounting for almost one-third of the drop.The Standard & Poor's 500 index rose 5.74 to 1,029.63. The Nasdaq composite index climbed 17.37 to 1697.80.Among other broad indexes, the Russell 2000 index of small companies outperformed the Dow, S&P 500 and Nasdaq, rising 5.60, or 1.5 percent, to 368.24; the Wilshire 5,000 index gained 71.12 to 9,452.
BUSINESS
By BLOOMBERG NEWS | February 24, 1998
NEW YORK -- Microsoft Corp. shares rallied yesterday after a 2-for-1 stock split, leading the Nasdaq composite index up 23.63, or 1.4 percent, to a record 1,751.76 -- past its Oct. 9 record.Microsoft rose $4 to close at $81.625 after the split.Intel Corp. gained $2.375 to $94.1875 and Dell Computer Corp. continued its recent surge, gaining $4.625 to a record $130.9375.Trusted Information Systems Inc., which makes security software for computer networks, rose $6.68 to $19.31 after Network Associates Inc. said it will acquire the company for about $300 million in stock.
BUSINESS
By BLOOMBERG NEWS | November 7, 1997
NEW YORK -- U.S. stocks fell yesterday for the first time this month, led by personal computer makers, amid concern that lower retail prices will hurt profits this holiday selling season.International Business Machines Corp. drew attention to falling prices when it introduced an Aptiva PC for $999, its first foray into the red-hot sub-$1,000 market.The Dow Jones industrial average fell 9.33 to 7,683.24. IBM paced the decline, falling $1.6875 to $101.0625, and Hewlett-Packard Co., another PC vendor that sells a sub-$1,000 machine, fell $1.3125 to $63.625.
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