Nasdaq

An article about Atlantic Beverage Co. Inc. in yesterday's editions incorrectly reported the company's annual revenues. Sales for the company in 1994 were $24.6 million.The Sun regrets the error.Failure to grow as fast as anticipated two years ago forced the removal of Atlantic Beverage Co. Inc. from the NasdaqNational Market list of stocks and its transfer to the exchange's Small Cap Market.The action, which takes effect today, came after three profitless years for the Arbutus-based soft drink distributor, which has seen its stock drop by more than two-thirds since going public in November 1993, with an initial price of $6.50 a share.

NEW YORK -- U.S. stocks started the new year on shaky footing as the NASDAQ Combined Composite index lost 0.75 percent of its value yesterday."If the weakness among NASDAQ stocks continues, it could be a big problem for the stock market," said Dennis Jarrett, chief market analyst at Kidder, Peabody & Co.The NASDAQ composite, which closed out 1992 at a record high, declined 5.15 yesterday, to 671.80. The slide was led by shares of MCI Communications Corp., Apple Computer Corp., Dell Computer Corp.

NEW YORK -- U.S. stocks were little changed yesterday as oil shares gave back Monday's gains and interest rates rose. The Nasdaq composite index climbed to its ninth straight record.Oil stocks slipped after the Clinton administration said it wants to sell from the nation's strategic reserves because of concern about high gasoline prices.The Dow Jones industrial average fell 4.33 to 5,569.08. The 30-stock benchmark index was led lower by Texaco Inc., Exxon Corp. and Chevron Corp.Shares of oil exploration and production companies fell.

NEW YORK -- A surge in interest rates sent most U.S. stocks into retreat yesterday, even as the Nasdaq composite index squeaked to a record.Concern about rates was compounded by the prospect of lower-than-expected earnings at Oracle Corp., the nation's biggest data base software maker, and Quaker Oats, a major food producer."People have pretty high expectations for earnings, so the numbers are going to be watched closely," said Barry Berman, head trader at Robert W. Baird. "I think the stock market's acting very well, considering the bond market is down as much as it is."

NEW YORK -- In the largest settlement to date in a price-fixing case that encompasses much of Wall Street, Herzog, Heine & Geduld Inc., one of the Nasdaq's most prominent market-makers, agreed yesterday to pay $30.6 million to investors.The settlement is the third to stem from a May 1994 lawsuit filed after the Justice Department began an investigation into price collusion on the Nasdaq market.The suit, which received class-action status in November, accused 35 brokerage firms, including Herzog Heine, of colluding to keep trading spreads artificially wide on securities traded on the Nasdaq between May 1989 and May 1994.

Digex Inc., an Internet company in Laurel whose shares have fallen more than 99 percent from their all-time high, said yesterday that Nasdaq plans to delist its stock from the Nasdaq SmallCap Market because it has failed to get its stock price above the minimum $1 level. The company said it is appealing Nasdaq's decision. "We have requested a hearing to appeal the staff's determination," George Kerns, Digex president and chief executive officer, said in a statement. "Regardless of the outcome, we will continue with initiatives to further grow the company and ultimately meet the criteria.

WASHINGTON -- The Nasdaq stock market proposed tougher listing standards yesterday for the 5,400 companies that trade on its markets after a series of trading abuses by smaller companies.The standards, if approved by the Nasdaq board and the Securities and Exchange Commission, would make 570 companies, or about 11 percent of the total, ineligible to list on the nation's second largest stock market.The proposal is geared especially toward Nasdaq's SmallCap market, where several small companies recently accused of price manipulation were listed.

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.

Even with Friday's powerful rally, the Nasdaq composite index has fallen more than a third from its high seven months ago, vaporizing nearly $2 trillion in shareholder wealth, plunging technology stocks into a deep bear market and leaving investors to wonder where the bottom might be. "I'm not sure we've seen the end of it yet," said Gil Knight, a principal with Allied Investment Advisors in Baltimore, who manages the company's Ark Small Cap Fund....

WASHINGTON -- The National Association of Securities Dealers moved yesterday toward extending Nasdaq stock market trading into the night, to meet competition from electronic networks and enable individual investors to trade securities after work.The NASD board approved a proposal calling on its staff to proceed with preparations to open trading from 5: 30 p.m. to 9 p.m. or 10 p.m. New York time for stocks in the Nasdaq 100 index -- which includes the biggest Nasdaq stocks. The Nasdaq market now is open for regular trading from 9: 30 a.m. to 4 p.m.The NASD didn't set a timetable for when it would move to extend trading hours, saying "a full, responsible and coordinated effort will take some time."