;)
|
Quote Lookup
Enter symbol:
· Symbol Lookup
Quotes delayed 20+ minutes
|
|
• My Portfolio
• Broker Reports
• IPOs
• Splits
• Messages
|
|
|
|
|
|
|
March 26, 2002
Markets rise on consumer faith
The markets finished higher Tuesday, driven in part by positive economic news.
The Dow Jones industrial average rose 71.69 points to 10,353.36, and the Nasdaq composite index advanced 11.68 points to 1,824.17.
A report from the Conference Board indicated that its consumer confidence index increased to 110.2, exceeding analysts' expectations of 98.0.
Shares of WorldCom were not as lucky. The stock fell after an analyst UBS Warburg cut its rating on the company to "hold" from "buy."
|
|
Fed's Olson says econ recovery strength unclear
WASHINGTON - Federal Reserve Board Governor Mark Olson on Tuesday said the robustness of the U.S. economic recovery remains in doubt, even as he touted favorable long-term trends on productivity that should aid the economy.
"As is frequently the case when the economy is transitioning from contraction to expansion, uncertainty about the strength of the recovery is considerable," Olson said in remarks prepared for delivery at Florida A&M University in Tallahassee.
SEC eyes Network Associates' books
Network Associates is being investigated by the Securities and Exchange Commission, the company said Tuesday.
The SEC is looking at the security software company's accounting for 2000, the company said, adding that it believes the investigation relates to issues that predate the current management team's arrival in 2001. Network Associates said it has reviewed its books for 2000 with its outside auditors and "continues to believe that the accounting was proper."
The company did not specify what specifically was being investigated. CEO George Samenuk took over at Network Associates in January 2001, replacing William Larsen.
NETWORK ASSOCIATES 22.23 -11.08%
Ciena to cut jobs, sees restructuring charges
LINTHICUM, Md. - Optical networking company Ciena Corp. on Tuesday said it will cut another 650 jobs, or 22 percent of its total work force, amid a slowdown in telecommunications spending.
"The telecom equipment market has changed dramatically in the last year and we have to adjust to those changes," Ciena President and Chief Executive Gary Smith said in a statement. "Ciena's future success depends on our ability to adapt the way we think and the way we run our business."
He added the job cuts will help the company return to profitability. Ciena currently employs slightly more than 2,900 people.
CIENA CORP 8.4 0.6%
|
WorldCom shares hit after UBS downgrade
Shares of WorldCom Inc. sank on Tuesday after UBS Warburg lowered its investment rating and halved its stock-price target because of weak demand and a possible restructuring at the telecommunications and data giant.
Analyst John Hodulik downgraded WorldCom to "hold" from "buy" because the company is facing weak demand for data services and a challenging operating environment. He said in a research note that he lowered his revenue growth estimates to 0.7 percent from 2.9 percent for the first quarter and to 1 percent from 3.8 percent for the full year.
Hodulik also cut his share-price target to $6 from $12.
WORLDCOM INC-WORLDCOM GROUP 6.11 -6.29%
Visit the Brokerage Center
McNealy: Don't let Microsoft steal the Net
SAN FRANCISCO--Programmers are on the front lines in the battle to keep Microsoft from taking over the standards that underlie the Internet, Sun Chief Executive Scott McNealy told loyalists of Sun's Java software Tuesday.
McNealy often criticizes Microsoft, whose popular Windows software ensures it a legion of supporting programmers. But during his JavaOne keynote speech, McNealy turned up the volume, saying the struggle is for nothing less than the future of humanity.
"I need your help. Mankind needs your help," said a somber McNealy of efforts to secure Java's future.
McNealy often criticizes Microsoft, whose popular Windows software ensures it a legion of supporting programmers.
SUN MICROSYSTEMS 8.42 -1.75%
Visit the CEO Wealth Meter
|
|
|
|
Copyright 2002 CNET Networks, Inc. All rights reserved. | | | | . |
|
