York Corp

A profile of Frank N. Newman, chairman of Bankers Trust New York Corp., that appeared in Tuesday's editions contained a typographical error. Sixteen, not 126, bankers attended a White House coffee in 1996 that Newman, then deputy Treasury secretary, organized.The Sun regrets the errors.NEW YORK -- The Capitol Hill meeting on Washington, D.C.'s fiscal crisis was growing heated, and D.C. Del. Eleanor Holmes Norton turned to the deputy secretary of the Treasury. You are uptight, she said, using an expletive, "and unhelpful."

NEW YORK -- U.S. stocks were mixed yesterday as two big bank mergers boosted financial firms, while higher bond yields hurt telephone companies.The Dow Jones industrial average rose 17.44 to 9,012.30, just 21 points shy of its record close. J. P. Morgan & Co., the biggest gainer, soared $7.0625 to $47.625.The Standard & Poor's 500 index fell 0.98 to 1,109.69. The Nasdaq composite index rose 4.71 to 1,824.95.Among other broad market indexes, the Russell 2,000 index of small capitalization stocks slipped 0.48 to 479.56; the Wilshire 5,000 index of stocks on the New York, American and Nasdaq exchanges lost 3.70 to 10,567.

NEW YORK -- U.S. stocks were mixed yesterday as oil and bank shares climbed to records and computer-related issues suffered their biggest rout in more than a month.Mobil Corp., Chevron Corp. and other energy issues extended a seven-week rally on optimism that demand for oil and gas will boom as European economies recover and Asian markets grow.Microsoft Corp. and Intel Corp. slumped, as more companies in the industry warned that profits will disappoint.The Dow Jones industrial average rose 22.75 to 7,312.

NEW YORK -- U.S. stocks rose yesterday, led by telephone and drug shares, as investors were attracted by stable earnings and safe dividends in a wobbly market. BellSouth Corp. shares reached an all-time high.Stocks rallied at the opening, lost their gains by midday and rebounded in the afternoon, as investors come to grips with how the financial market routs in Asia and the collapse of Yamaichi Securities Co., Japan's fourth-largest brokerage, will affect the United States."The weakness in Asia will take the edge off of domestic growth and inflation concerns, but will leave us with moderate growth and benign inflation, rather than pushing us into a recession," said Philip J. Orlando, chief investment officer at Value Line Asset Management in New York, which oversees $6.5 billion.

NEW YORK -- U.S. stocks, fueled by automobile, machinery and bank shares, extended a seven-month rally yesterday as investors decided the Federal Reserve will lower interest rates -- if not this week, then later this summer.The Dow Jones industrial average surged past 4,600 for the first time, closing 30.08 higher, at a record 4,615.23, just four months after reaching 4,000. Since the stock market rally began at Thanksgiving, the Dow industrials have returned 27.1 percent. The average has also set 41 records this year.

NEW YORK -- U.S stocks rose yesterday, driving the Standard & Poor's 500 index to a record high amid gains in financial, beverage and semiconductor issues.Stocks advanced amid optimism that the Federal Reserve won't raise interest rates again this year. A government report showing that retail sales are rising modestly furthered a growing belief that higher interest rates have already subdued inflation."There's no reason to raise rates again," said Elizabeth Bramwell, president of Bramwell Capital Management, which manages $100 million.

NEW YORK -- U.S. stocks fell yesterday on the busiest day at the New York Stock Exchange since its founding in 1792.High volume, triggered by the quarterly expiration of options and futures, came as Micron Technology Inc. reported earnings that, while doubling, fell short of analysts' expectations for the quarter ended Nov. 30, and Apple Computer Inc. said it wasn't selling as many computers as expected this Christmas season.While computer-related shares fell out of favor, computers helped traders plow through orders to buy and sell about 636.8 million shares, eclipsing a record set during the 1987 stock market crash.

NEW YORK -- U.S. stocks staged their broadest decline yesterday in almost three months after the collapse of Britain's oldest investment bank heightened concern about similar instability among American banks and securities firms.Financial issues slumped after London-based Barings PLC crumpled under the weight of about $1 billion in losses from speculative trading in Asian markets. The bankruptcy -- one of the largest bank failures in British history -- derailed a rally that took U.S. stocks to record highs last week.

NEW YORK -- U.S. stocks again reached record highs yesterday amid optimism that the economy is slowing enough to keep interest rates low without harming corporate profits.With companies set to begin reporting first-quarter earnings early next month, "people are a little bit in dreamland here," said Eugene Grandone, money manager at $6 billion Northern Investment Advisers in Chicago. "What people are looking for is accelerating earnings. A lot of the strength you're seeing here is based on the anticipation of more [positive]

NEW YORK -- U.S. stocks fell yesterday amid concern that the Federal Reserve won't lower interest rates as soon as some investors expected. A rally in technology issues tempered the decline.Shares of banking and financial companies fell after two reports showed the economy isn't slowing as much as expected, making a move by the Fed to stimulate growth with lower rates less likely. Stocks are trading near record highs on the bet that rates will fall, borrowing costs will drop and profits will rise.

NEW YORK -- U.S. stocks suffered their worst drop in almost a month after Federal Reserve Chairman Alan Greenspan said yesterday that it would be "unrealistic" to expect more gains of the magnitude recorded during the past two years.Stocks, led by General Electric Co. and Exxon Corp., dropped with bonds after Greenspan said inflation could accelerate as employers boost wages to lure workers. Investors were betting on tame inflation to send borrowing costs down and profits up."Given the recent strength in the stock market, anything that's the least bit negative is going to take its toll," said Alan Sachtleben, chief investment officer for equities at Van Kampen American Capital Inc. in Houston, which has $20 billion of stocks.

NEW YORK -- U.S. stocks were mixed yesterday as oil and bank shares climbed to records and computer-related issues suffered their biggest rout in more than a month.Mobil Corp., Chevron Corp. and other energy issues extended a seven-week rally on optimism that demand for oil and gas will boom as European economies recover and Asian markets grow.Microsoft Corp. and Intel Corp. slumped, as more companies in the industry warned that profits will disappoint.The Dow Jones industrial average rose 22.75 to 7,312.

NEW YORK -- Blue-chip stocks fell yesterday as investors grew concerned that revenue growth at the nations' biggest consumer companies is slowing.Procter & Gamble Co. and Sears, Roebuck & Co. led the Dow Jones industrial average lower, after Gillette Co. said revenue grew just 6 percent and Kimberly-Clark Corp. reported 1 percent sales growth."We're concerned," said Bob Streed, a money manager at Northern Trust Co., which oversees $130 billion and owns Gillete and Kimberly-Clark shares. "A lot of the earnings gains we've seen may have come from cost-cutting, and these companies are running out of costs to cut."

A profile of Frank N. Newman, chairman of Bankers Trust New York Corp., that appeared in Tuesday's editions contained a typographical error. Sixteen, not 126, bankers attended a White House coffee in 1996 that Newman, then deputy Treasury secretary, organized.The Sun regrets the errors.NEW YORK -- The Capitol Hill meeting on Washington, D.C.'s fiscal crisis was growing heated, and D.C. Del. Eleanor Holmes Norton turned to the deputy secretary of the Treasury. You are uptight, she said, using an expletive, "and unhelpful."

NEW YORK -- U.S. stocks were mixed yesterday, ending three days of gains. Expectations that the Federal Reserve will continue to lower interest rates helped boost bank and financial shares, countering a drop in metals stocks.The gain in financial stocks was led by shares of the Federal National Mortgage Association, which rallied $5.25 to a record $125 after the company said it will buy back up to 9 percent of its common stock.The Dow industrials fell 4.34 to 5,105.92 after gaining as much as 16.25 points earlier.

NEW YORK -- U.S. stocks fell yesterday on the busiest day at the New York Stock Exchange since its founding in 1792.High volume, triggered by the quarterly expiration of options and futures, came as Micron Technology Inc. reported earnings that, while doubling, fell short of analysts' expectations for the quarter ended Nov. 30, and Apple Computer Inc. said it wasn't selling as many computers as expected this Christmas season.While computer-related shares fell out of favor, computers helped traders plow through orders to buy and sell about 636.8 million shares, eclipsing a record set during the 1987 stock market crash.

NEW YORK -- Blue-chip stocks fell yesterday as investors grew concerned that revenue growth at the nations' biggest consumer companies is slowing.Procter & Gamble Co. and Sears, Roebuck & Co. led the Dow Jones industrial average lower, after Gillette Co. said revenue grew just 6 percent and Kimberly-Clark Corp. reported 1 percent sales growth."We're concerned," said Bob Streed, a money manager at Northern Trust Co., which oversees $130 billion and owns Gillete and Kimberly-Clark shares. "A lot of the earnings gains we've seen may have come from cost-cutting, and these companies are running out of costs to cut."

NEW YORK -- U.S. stocks suffered their worst drop in almost a month after Federal Reserve Chairman Alan Greenspan said yesterday that it would be "unrealistic" to expect more gains of the magnitude recorded during the past two years.Stocks, led by General Electric Co. and Exxon Corp., dropped with bonds after Greenspan said inflation could accelerate as employers boost wages to lure workers. Investors were betting on tame inflation to send borrowing costs down and profits up."Given the recent strength in the stock market, anything that's the least bit negative is going to take its toll," said Alan Sachtleben, chief investment officer for equities at Van Kampen American Capital Inc. in Houston, which has $20 billion of stocks.

NEW YORK -- U.S. stocks, fueled by automobile, machinery and bank shares, extended a seven-month rally yesterday as investors decided the Federal Reserve will lower interest rates -- if not this week, then later this summer.The Dow Jones industrial average surged past 4,600 for the first time, closing 30.08 higher, at a record 4,615.23, just four months after reaching 4,000. Since the stock market rally began at Thanksgiving, the Dow industrials have returned 27.1 percent. The average has also set 41 records this year.

NEW YORK -- U.S. stocks fell yesterday amid concern that the Federal Reserve won't lower interest rates as soon as some investors expected. A rally in technology issues tempered the decline.Shares of banking and financial companies fell after two reports showed the economy isn't slowing as much as expected, making a move by the Fed to stimulate growth with lower rates less likely. Stocks are trading near record highs on the bet that rates will fall, borrowing costs will drop and profits will rise.