April 4, 2001 |
Here's a news flash: Technology stocks no longer dominate the U.S. stock market. The 65% plunge in the computer and telecommunications stocks that Standard & Poor's classifies as technology companies has knocked the industry group from its perch as the largest of the 11 industry sectors in the benchmark S&P 500 index--a rank it has held since December 1998.
April 3, 2001 |
There were few places to hide on Wall Street in the quarter just ended, but one of them was under a hard hat. Engineering and construction companies were among the stock market's biggest first-quarter winners, as construction spending held up surprisingly well--especially considering the softening economy and the plunge in technology spending.
February 7, 2001 |
General Motors Corp. and Ford Motor Co., battling smaller rivals for their most lucrative markets in a slowing U.S. economy, faced new questions about their credit-worthiness Tuesday after a major rating agency adopted a negative outlook toward the world's two largest auto makers. Standard & Poor's revised its outlook on GM and Ford to negative from stable, citing "heightened concerns" about their ability to compete.
February 6, 2001 |
Antitrust regulators Monday cleared Dow Chemical Co.'s $7.3-billion purchase of Union Carbide Corp. after Dow agreed to divest itself of a key plastics technology and sell three other overlapping chemical businesses. Also, Standard & Poor's Corp. announced its choice to replace Union Carbide in the blue-chip S&P 500 index: Univision Communications, the Spanish-language TV broadcaster. The Federal Trade Commission said the merger creating the No. 2 chemical firm after DuPont Co.
October 19, 1999 |
How much worse will it get for the stock market? On Wall Street, it's clear that there are two distinct schools of thought on that question. An apparent majority of market analysts say the selling that has knocked the Dow Jones industrial average 10.7% off its August peak--and many stocks much more than that--may intensify in the next few days or weeks. But many in this camp don't believe the losses to come will be massive.
August 25, 1999 |
Global Crossing Ltd., which plans to complete its $12.9-billion purchase of Frontier Corp. by October, won't be included in the Standard & Poor's 500 index because it will continue to be based outside the U.S., Global Chief Executive Robert Annunziata said. Frontier of Rochester, N.Y., the No. 5 U.S. long-distance phone company, is a member of the benchmark S&P 500. The combined company will have headquarters in Hamilton, Bermuda.