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By William Patalon III and William Patalon III,SUN STAFF | August 21, 2002
Baltimore-based brokerage house eChapman Inc. has lost its bid to keep its shares listed on the Nasdaq stock market, the company's chairman said late yesterday. The Nasdaq National Market System notified eChapman yesterday that its shares were delisted, rebuffing arguments the company made during a hearing last month, eChapman Chairman and Chief Executive Officer Nathan A. Chapman Jr. said. The shares - which will trade on the so-called "pink sheets" - were delisted because the company failed to meet the minimum requirements of the exchange, the company said.
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NEWS
By William Patalon III and Bill Atkinson and William Patalon III and Bill Atkinson,SUN STAFF | December 1, 2000
Technology stocks ended their worst month since 1987 with a sell-off yesterday that - at its low for the day - saw the Nasdaq composite index down to half of its March 10 record high. The Nasdaq dropped 109 points, or 4 percent, to close at 2,597.93. The technology-laden index was down more than 183 points before an afternoon rally narrowed the loss. The Dow Jones industrial average fell 214.62 points, or 2 percent, to finish November at 10,414.49. Yesterday was the second-busiest day ever on both the New York Stock Exchange, where 1.498 billion shares changed hands, and on the Nasdaq, where volume was 2.65 billion shares.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | October 15, 2000
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....
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | March 16, 2000
The Dow Jones industrial average soared more than 320 points yesterday, while the technology-laden Nasdaq composite index fell nearly 125 -- a complete role-reversal from the past two months. Analysts said it is too soon to know if yesterday's reversal of fortune is the sign of renewed investor interest in blue-chip shares, a false break in a bear market, or just a brief respite from a bull market in technology stocks that's had a stubborn penchant for breaking all the rules. "We've seen such a tremendous dichotomy between technology and the rest of the market for quite awhile," said Gil Knight, a principal with Allied Investment Advisors in Baltimore.
BUSINESS
By BLOOMBERG NEWS | May 27, 1999
NEW YORK -- U.S. stocks rose for the first time in five days after an economic report that factory orders for durable goods had fallen more than expected in April, dampening concern that inflation and interest rates are poised to rise.The Dow Jones industrial average had its biggest gain since May 3, climbing 171.07, or 1.6 percent, to 10,702.16.The Standard & Poor's 500 index rose 20.36, or 1.6 percent, to 1,304.76, and the Nasdaq composite index gained 46.28, or 1.9 percent, to 2,427.18, snapping a four-day slump that left it down 10 percent from its April 26 high.
NEWS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | January 1, 2000
Once again, on the last trading day of 1999, a bombshell announcement couldn't derail the momentum of the U.S. stock market. After waking to the news of Russian President Boris N. Yeltsin's resignation, traders sent the Dow Jones industrial average, the Standard & Poor's 500 index and the Nasdaq composite index to record highs. The major stock indexes produced double-digit returns for the fifth year in a row. "This year was extraordinary, exuberant and exciting, to say the least," said Alan R. Ackerman, senior vice president at Fahnestock & Co., a New York brokerage.
BUSINESS
By BLOOMBERG BUSINESS NEWS | December 4, 1996
NEW YORK -- U.S. stocks tumbled yesterday in a late-day sell-off, after a reversal in Treasury bond prices and concern that a stronger dollar might erode corporate profits.The Dow Jones industrial average fell 79.01 to 6,442.69, its biggest percentage drop since a 161-point plunge July 15. The Standard & Poor's 500 index fell 8.28 to 748.28, its largest decline in three months.The Nasdaq composite index rose 0.55 to 1,300.37, its seventh consecutive record.Concern that the U.S. dollar's recent rise might hurt multinational companies' earnings overseas battered such companies as General Electric Co., which lost $6.6 billion of its market value, falling $4 to $99.25.
BUSINESS
By BLOOMBERG NEWS | November 28, 1998
NEW YORK -- U.S. stocks, led by oil shares, rose yesterday amid speculation that Exxon Corp.'s talks to buy Mobil Corp. will spark more mergers. A rally in computer shares such as Microsoft Corp. and Internet stocks sent the Nasdaq Composite Index to its first record since July 20.The possibility of an Exxon-Mobil combination "is going to start merger mania again," said Tim Chesterfield, who helps manage $2.65 billion at Pavilion Asset Management in Brighton, England. Chesterfield said he owns Exxon and may buy more oil stocks.
BUSINESS
By BLOOMBERG NEWS | February 28, 2001
NEW YORK - The Nasdaq composite index tumbled to its lowest close since December 1998 yesterday after reports signaled that the economy is slowing and Goldman Sachs & Co. cut profit forecasts for more than 30 technology companies. Qualcomm Inc., JDS Uniphase Corp. and Cisco Systems Inc. led the Nasdaq decline. EMC Corp., Hewlett-Packard Co. and Applied Micro Circuits Corp., among the stocks whose earnings estimates were cut by Goldman, also fell. The Nasdaq dropped 100.68 to 2,207.82, its lowest close since Dec. 31, 1998, and its first loss in three sessions.
BUSINESS
By Bloomberg News | October 25, 2003
U.S. stocks dropped after Microsoft Corp., the world's largest company by market value, signed fewer new software contracts, raising concern that profit and sales growth in coming quarters may be disappointing. Benchmark indexes managed to pare wider losses in the last hour of trading. "Microsoft is definitely the big dog," said Alex Motola, who helps manage $7.5 billion at Thornburg Investment Management Inc. in Santa Fe, N.M. "If they aren't seeing demand, the PC makers and the chipmakers may not be seeing demand."
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