The America's Intelligence Wire articles from July 2003

The America's Intelligence Wire archives from July 2003

A good quarter does not a bull market make.
July 1, 2003... (From CBS Marketwatch (Stories)) ANNANDALE, Va. (CBS.MW) - It's time for another visit to the stats man. As no doubt you have already read many times, 2003's second quarter was not a bad one. As judged by the Dow Jones Industrials...

Amazon Japan launches electronics section on Web site.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Caroline E. Mayer TOKYO (CBS.MW)-- Amazon Japan, the local unit of online retailer Amazon.com , on Tuesday launched an electronics section on its Web site. "We believe electronics will be one of...

UPDATE 1-U.S. stocks are overbought.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Caroline E. Mayer Editor's note: Michael L. Burke taught fundamental and technical analysis at the New School in New York and is author of The Three Box Reversal Method of Point and Figure...

UPDATE 1-Values still matter and it's not different this time.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Caroline E. Mayer Kelley Wright is the managing editor of the Investment Quality Trends newsletter and has been managing money for 18 years for high-net-worth individuals and institutions. ...

China may allow overseas bond purchases -- FT.
July 1, 2003... (From CBS Marketwatch (Pulses)) TOKYO (CBS.MW) -- In a move that could alleviate pressure on China to revalue its inflated yuan currency, Beijing is considering for the first time allowing some top corporations to invest their foreign...

UPDATE 2-Japan's business confidence improves in June.
July 1, 2003... (From CBS Marketwatch (Stories)) TOKYO (CBS.MW) - Japanese business confidence is improving dramatically as the SARS outbreak wanes and Tokyo's main stock index rebounds strongly from recent 20-year lows, the Bank of Japan's "tankan"...

HMV pre-tax at top end, Harry Potter boosts Waterstone.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jonathan Krim LONDON (CBS.MW) -- HMV , in its first full year after its London IPO, said sales for the year ending in April rose 3.2 percent to GBP1.7 billion and like for like sales grew 1.6...

NEC Electronics prices big upcoming IPO in Japan.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jonathan Krim TOKYO (CBS.MW) - NEC Electronics said Tuesday it has set the price of its upcoming initial public offering of 34 million shares at 3,600 yen to 4,200 yen ($30-$35) each. NEC...

Scottish & Newcastle: FY EPS off 5%, revenues up 19%.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jonathan Krim LONDON (CBS.MW) -- Brewer Scottish & Newcastle said on Tuesday that operating profit improved 22 percent to GBP657.9 million on a 19 percent jump in revenues to GBP4.985 billion for...

Taylor Nelson: 1H lower margins but 'comfortable' on fy.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jonathan Krim LONDON (CBS.MW) -- Market information group Taylor Nelson Sofres in an update Tuesday ahead of interim results Sept. 8 said sales are expected to be "broadly flat" with the year...

Home builder Taylor confident on year on US market.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jonathan Krim LONDON (CBS.MW) -- House builder Taylor Woodrow [s:uk:twod] said in an update Tuesday it expects the half year to meet expectations. It said its "UK housing business has seen a...

Ahold finds another 73 mln euros in overstated earnings.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jonathan Krim LONDON (CBS.MW) -- Troubled Dutch supermarket and food services operator Royal Ahold on Tuesday said it found another 73 million euros of intentional accounting irregularities...

Updates, advisories and surprises.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jonathan Krim Home builder Taylor confident on year on US market (2:55 AM ET) LONDON (CBS.MW) -- House builder Taylor Woodrow [s:uk:twod] said in an update Tuesday it expects the half year to...

Ahold forms audit committee to implement restatement.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jonathan Krim LONDON (CBS.MW) -- Troubled Dutch supermarket and food services operator Royal Ahold on Tuesday said it has formed an audit committee, consisting of Ahold management and outside...

Home builder Taylor confident on year on US market.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Karen Spiller LONDON (CBS.MW) -- House builder Taylor Woodrow said in an update Tuesday it expects the half year to meet expectations. It said its "UK housing business has seen a return to more...

UPDATE 1-Updates, advisories and surprises.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Karen Spiller AXA puts '02 net loss at 2.58 bln euros (3:07 AM ET) LONDON (CBS.MW) -- French insurer AXAsaid late Monday that its 2002 net loss was 2.58 billion euros. The insurer in April...

Ahold rallies on audit end, Vivendi higher.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Karen Spiller LONDON (CBS.MW) -- Investors cheered the conclusion of the audit into Dutch supermarket and food services operator Royal Ahold, even as the scandal-plagued company unearthed...

Arcelor CEO sees no steel mkt recovery until '04.
July 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- The CEO of French steel producer Arcelor said he does not expect a recovery in the steel market until 2004. Guy Dolle told the Les Echos newspaper that with the exception of Spain, the...

UPDATE 2-Updates, advisories and surprises.
July 1, 2003... (From CBS Marketwatch (Stories)) AXA puts '02 net loss at 2.58 bln euros (3:07 AM ET) LONDON (CBS.MW) -- French insurer AXAsaid late Monday that its 2002 net loss was 2.58 billion euros. The insurer in April flagged that it calculated net...

UPDATE 1-Ahold rallies on audit end, Vivendi higher.
July 1, 2003... (From CBS Marketwatch (Stories)) LONDON (CBS.MW) -- Investors cheered the conclusion of the audit into Dutch supermarket and food services operator Royal Ahold, even as the scandal-plagued company unearthed additional irregularities. ...

Adidas lower amid UBS price target cut.
July 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- Sportswear maker Adidas-Salomon fell 1.6 percent in Frankfurt amid a UBS cut of its price target from 85 euros to 80 euros per share. The broker noted that while the company's full-year...

UPDATE 3-Updates, advisories and surprises.
July 1, 2003... (From CBS Marketwatch (Stories)) AXA puts '02 net loss at 2.58 bln euros (3:07 AM ET) LONDON (CBS.MW) -- French insurer AXAsaid late Monday that its 2002 net loss was 2.58 billion euros. The insurer in April flagged that it calculated net...

'Grey market' for Yell IPO shares seen 280-290p.
July 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- London spread bettor Cantor Index said Tuesday it expects a 'grey market' in the first-day trade in IPO shares of UK directories group Yell from 280-290p a share. Bankers Merrill Lynch and...

UPDATE 2-Ahold rallies on audit end, Volkswagen lower.
July 1, 2003... (From CBS Marketwatch (Stories)) LONDON (CBS.MW) -- Investors cheered the conclusion of the audit into Dutch supermarket and food services operator Royal Ahold, even as the scandal-plagued company unearthed additional irregularities. ...

MMO2 to use AOL instant messenger in Europe.
July 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- British mobile phone operator MMO2 said on Tuesday that it inked a deal for its customers to use AOL's Instant Messenging service over its European network. MMO2 also said it has almost...

Alcatel wins two-way DSL satellite contract in China.
July 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- French telecoms equipment maker Alcatel said Tuesday it has been awarded a 'multi-million dollar' contract to deliver a two-way satellite broadband Internet access network in China....

Ahold up as it wraps probe, auditors are back.
July 1, 2003... (From CBS Marketwatch (Stories)) LONDON (CBS.MW) - Shares of Dutch supermarket group Royal Ahold surged as much as 6 percent on Tuesday after the company said its probe into accounting irregularities had ended and that its auditors have...

American Financial in $770 mln sale-leaseback deal.
July 1, 2003... (From CBS Marketwatch (Pulses)) WASHINGTON (CBS.MW) -- American Financial Realty Trust said it's closed on the acquisition of 158 properties located in 19 states housing the operations of a Bank of America subsidiary. The Jenkintown,...

Boeing stock eases in thin pre-open.
July 1, 2003... (From CBS Marketwatch (Stories)) LONDON (CBS.MW) - A broker downgrade on Boeing appeared to outweigh reports of a contract worth $6 billion, at least in the early going as shares of the aircraft maker eased to the $33.80s in London...

Zale to buyback up to 20% outstanding shares.
July 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) - Jewelry retailer Zale Corp. said it plans to purchase up to 6.4 million of its stock in a 'Dutch auction' at a price per share from $42-48 in purchases of up to $307.2 million. The buyback...

'Grey market' for Yell IPO shares seen 280-290p.
July 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- London spread bettor Cantor Index said Tuesday it expects a 'grey market' in the first-day trade in IPO shares of UK directories group Yell from 280-290p a share. Bankers Merrill Lynch and...

Ventas completes sale of 16 facilities to Kindred.
July 1, 2003... (From CBS Marketwatch (Pulses)) NEW YORK (CBS.MW) -- Ventas is saying it has completed its ales of 16 skilled nursing facilities in Florida and Texas to Kindred Healthcare , its primary tenant. Kindred previously leased the facilities. The...

Axis Capital prices IPO for Tuesday debut.
July 1, 2003... (From CBS Marketwatch (Pulses)) NEW YORK (CBS.MW) -- An initial public offering from Axis Capital priced at $22 per share, above its range of $19.50 to $21.50 per share in a sign of strong demand. The Bermuda-based insurance firm raised...

UPDATE 1-Boeing eases in thin pre-open.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Francesca Lunzer Kritz LONDON (CBS.MW) - A broker downgrade on Boeing appeared to outweigh reports of a contract worth $6 billion, at least in the early going as shares of the aircraft maker...

Axis Capital IPO prices above range in latest bullish move.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Francesca Lunzer Kritz NEW YORK (CBS.MW) - An initial public offering from Axis Capital priced at $22 per share, above its range of $19.50 to $21.50 per share in a sign of strong demand for its...

US chain store sales down 0.5% in week to June 28.
July 1, 2003... (From CBS Marketwatch (Pulses)) WASHINGTON (CBS.MW) - US chain store sales fell 0.5 percent in the week ended June 28, according to the Bank of Tokyo Mitsubishi and UBS Warburg. This is the first decline after two straigth weekly increases....

PeopleSoft: Oracle bid 'severely undervalues' PSFT.
July 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- PeopleSoft's Board of Directors in a letter to holders Tuesday said rival Oracle Corp's. $19.50 a share cash tender offer "severely undervalues PeopleSoft based on its financial...

Boeing, Raytheon, Staar Surgical, and more.
July 1, 2003... (From CBS Marketwatch (Stories)) Stocks to watch American Financial Realty Trust completed its acquisition of 158 properties located in 19 states housing the operations of a Bank of America unit. The Jenkintown, Pa.-based real estate...

UPDATE 1-Axis Capital IPO prices above range in latest bullish move.
July 1, 2003... (From CBS Marketwatch (Stories)) NEW YORK (CBS.MW) - An initial public offering from Axis Capital priced at $22 per share, above its range of $19.50 to $21.50 per share in a sign of strong demand for its stock market debut on Tuesday. ...

UPDATE 2-Axis Capital IPO prices above range in latest bullish move.
July 1, 2003... (From CBS Marketwatch (Stories)) NEW YORK (CBS.MW) - An initial public offering from Axis Capital priced at $22 per share, above its range of $19.50 to $21.50 per share, in a sign of strong demand for its stock market debut on Tuesday. ...

Iraq's Destroyer Can Now Be Its Savior.
July 1, 2003... (From BusinessWeek Online) Byline: Alex Salkever Two U.S. soldiers in Iraq are missing for 48 hours before they're found slain. Yet back in the States, retail giant Wal-Mart (WMT) announces that it has deployed a global system to track...

ENSCO: A Gas Driller That's Cooking.
July 1, 2003... (From BusinessWeek Online) Byline: John Kartsonas We at Standard & Poor's expect domestic oil and gas contract-drilling outfits to enjoy a good second half in 2003, especially in light of lofty prices for natural gas. And we believe...

Stocks: "The Best Game in Town".
July 1, 2003... (From BusinessWeek Online) Byline: John Kartsonas The only threat that could stall the stock market's rise is higher energy prices, says Stephen Leeb, president of New York investment company Leeb Capital Management. Even after the...

Why No One Lives Forever.
July 1, 2003... (From BusinessWeek Online) Byline: Thane Peterson Ever wonder why Canadians live longer than Americans -- and why Japanese live longer than either? After all, Americans spend tons more money on health care, to say nothing of vitamin...

For India, a Shrinking Chinese IT Monster.
July 1, 2003... (From BusinessWeek Online) Byline: Bruce Einhorn It wasn't that long ago that the Indian information-technology industry was gripped with China fear. When I first traveled to Bangalore in 2001, company executives, industry officials,...

Unit Corp. in $190 mln pact to acquire PetroCorp.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Bruce Einhorn WASHINGTON (CBS.MW) -- In a deal involving a pair of Tulsa-based companies, PetroCorp Inc. announced a letter of intent to be acquired by Unit Corp. , a transaction valued at...

American Superconductor details $50M financing.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Bruce Einhorn NEW YORK (CBS.MW) -- American Superconductor is saying it's signed non-binding letters of intent with three groups of investors to provide up to $50 million in financing. The...

'Sell' ratings undercuts Boeing sales talk.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Bruce Einhorn CHICAGO (CBS.MW) -- Recently ascending shares of Boeing flew into a headwind early Tuesday, after Deutsche Bank cut the Dow component's rating to "sell" from "hold." The...

Before the Bell: Boeing, Millennium and more.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Bruce Einhorn A few key stocks were seen trending lower as the stock futures stepped down moderately. European stock markets were mainly weaker; the euro found support at last in its tests in...

Teva to book $100 mln gain on Purinethol deal.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Bruce Einhorn WASHINGTON (CBS.MW) -- Israel's Teva Pharmaceutical Industries Ltd. said that effective today, it holds all product rights relating to the leukemia treatment Purinethol for the...

Starbucks gets lift from Smith Barney upgrade.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Bruce Einhorn NEW YORK (CBS.MW) -- Starbucks' shares are gaining ground in pre-market action after Smith Barney raised its rating on the stock to 'outperform' from 'in-line' saying same-store...

Morgan Stanley ups GS, Mellon and T. Rowe estimates.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Bruce Einhorn NEW YORK (CBS.MW) -- Morgan Stanley lifted its third-quarter earnings-per-share estimate on Goldman Sachs to $1.12 from $1.09 and its fiscal 2003 profit forecast to $5.08 from...

Verizon.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Leigh Hopper WASHINGTON (CBS.MW) -- Verizon Communications on Tuesday said it will take a noncash charge of $1.6 billion, or 59 cents a share, in fiscal 2003 to reflect a change in how it...

SG Cowen supports Gannett.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Leigh Hopper NEW YORK (CBS.MW) -- Gannett Co. , the publisher of USA Today and many other media holdings, has a diversified business line which "should drive solid cash flow growth and generate...

Verizon to take nearly $3 billion in charges.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Leigh Hopper WASHINGTON (CBS.MW) -- Verizon Communications on Tuesday said it will take a noncash charge of $1.6 billion, or 59 cents a share, in fiscal 2003 to reflect a change in how it...

PeopleSoft board: revised Oracle bid undervalues firm.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Leigh Hopper LONDON (CBS.MW) -- PeopleSoft's board of directors warned Tuesday that rival Oracle Corp.'s $19.50-a-share cash tender offer "severely undervalues PeopleSoft based on its financial...

Aetna receives upgrade from Banc of America Securities.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Leigh Hopper NEW YORK (CBS.MW) -- Banc of America Securities hoisted its rating on Aetna to a "buy" from a "neutral," citing strong growth prospects and belief the company will build market share...

Boeing eases in thin pre-open.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Leigh Hopper LONDON (CBS.MW) - A broker downgrade on Boeing appeared to outweigh reports of a contract worth $6 billion, at least in the early going as shares of the aircraft maker eased in...

UPDATE 3-Axis Capital prices above range in latest bullish sign.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Leigh Hopper NEW YORK (CBS.MW) -- An initial public offering from Axis Capital priced at $22 per share, above its projected $19.50-to-$21.50 range, in a sign of strong demand for its stock...

Treasurys gain ahead of factory report.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Leigh Hopper WASHINGTON (CBS.MW) - U.S. Treasury securities posted modest gains Tuesday on expectations closely watched factory data due out later in the morning would show only modest...

J.P. Morgan cuts 2004 estimate for General Electric.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Wilson P. Dizard III NEW YORK (CBS.MW) -- General Electric shares could come under pressure after J.P. Morgan reduced its 2004 earnings estimate on the Dow component to $1.66 per share from...

IPass sets proposed size of IPO.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Wilson P. Dizard III NEW YORK (CBS.MW) -- Redwood Shores, Calif.-based IPass said in a filing with the Securities and Exchange Commmission that it plans to issue 7 million shares at a price of $9...

U.S. stock indexes set for shoddy open.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Wilson P. Dizard III NEW YORK (CBS.MW) -- U.S. shares were set to begin the first trading day of the third quarter on the downside Tuesday ahead of a key report on the manufacturing sector. ...

Verizon to take $3 billion in charges.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Wilson P. Dizard III WASHINGTON (CBS.MW) -- Verizon on Tuesday said it will take up to $3 billion in charges to cover a change in how it accounts for its Yellow-pages business and the sale of...

UPDATE 2-Portal passion: Will IWon win over Lycos?
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Wilson P. Dizard III SAN FRANCISCO (CBS.MW) - Aah. It's the first day of July, and I'm about halfway through the nine weddings in my 2003 calendar. Yet the only unions I'm focusing on this...

UPDATE 1-Wet blanket over the rally party.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Wilson P. Dizard III SAN FRANCISCO (CBS.MW) - The adrenaline rush that came with the Fed's most recent booster shot is wearing off, and, all we have to look forward to is that quarterly act:...

Millennium slides, biotechs lose ground.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Wilson P. Dizard III BOSTON (CBS.MW) -- Shares of Millennium Pharmaceuticals were sliding 11 percent in early trading Tuesday as investors reacted with disappointment to terms of a marketing...

UPDATE 1-GE, Polymedica, Starbucks, and more.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Wilson P. Dizard III Stocks to watch Aetna shares received an upgrade from Banc of America to "buy" from "neutral." The firm cited strong growth prospects and belief the company will build...

Commentary: Time for action as scene's set for recovery.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Wilson P. Dizard III HEMPSTEAD, N.Y. (CBS.MW) -- Now that economic policy is in full throttle, it all comes down to getting the players to think positively. Little more than three years ago,...

SG Cowen turns bullish on several newspaper publishers.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Wilson P. Dizard III NEW YORK (CBS.MW) -- As the second half of 2003 begins, SG Cowen says it's bullish on several prominent newspaper companies. SG Cowen noted in a research report issued...

Wynn Resorts slumps on $200M convertible debt offer.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jamie Francisco NEW YORK (CBS.MW) -- Wynn Resorts is falling more than 9 percent to $16.10 in morning trades. After Monday's closing bell, the Las Vegas firm said it has agreed to sell $200...

U.S. June ISM shows improvement but no growth.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jamie Francisco The manufacturing sector in the United States contracted again in June for the fourth month in a row, The ISM index rose to 49.8 percent from 49.4 percent in May. Economists were...

U.S. May construction spending -1.7%.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jamie Francisco WASHINGTON (CBS.MW) -- U.S. construction spending unexpectedly fell 1.7 percent in May to $869.8 billion, the Commerce Department said. The drop was the largest in a year....

AirTran to boost fleet with Boeing order.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jamie Francisco SAN FRANCISCO (CBS.MW) -- AirTran Airways said Tuesday that it has ordered 100 Boeing 737s and 10 Boeing 717s, with half of the 737 orders chalked up as purchase options. ...

UPDATE 1-U.S. stock indexes begin Q3 with losses.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jamie Francisco NEW YORK (CBS.MW) -- U.S. shares began the first trading day of the third quarter on a downbeat note Tuesday ahead of a key report on the manufacturing sector. The Institute...

Emmis leads radio shares lower.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jamie Francisco SAN FRANCISCO (CBS.MW) - Emmis Communications headed lower Tuesday morning after its release of lower-than-expected fiscal first-quarter results, pushing other radio stocks to...

Millennium, biotech stocks retreat.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jamie Francisco BOSTON (CBS.MW) -- Biotechnology stocks were headed lower in early trading Tuesday, with shares of Millennium Pharmaceuticals among the notable decliners as investors reacted...

Chips, hardware stumble in early dealings.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jamie Francisco NEW YORK (CBS.MW) -- Chip and hardware stocks began the third quarter by trading slightly lower on Tuesday. The Philadelphia Semiconductor Index and the Goldman Sachs...

U.S. June ISM shows improvement but no growth.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jamie Francisco The manufacturing sector in the United States contracted again in June for the fourth month in a row, the Institute for Supply Management reported Tuesday. The ISM index rose to...

U.S. construction spending unexpectedly falls in May.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jamie Francisco WASHINGTON (CBS.MW) - Spending on U.S. construction unexpectedly fell in May - the biggest drop in a year -- on declines for new homes, businesses and public projects, government...

U.S. layoffs fall to 31-month low in June.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jamie Francisco WASHINGTON (CBS.MW) -- The pace of job reductions fell to its lowest level in 31 months in June, according to outplacement firm Challenger, Gray & Christmas. U.S....

UPDATE 1-Commentary: Time for action as scene's set for recovery.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jamie Francisco HEMPSTEAD, N.Y. (CBS.MW) -- Now that economic policy is in full throttle, it all comes down to getting the players to think positively. Little more than three years ago,...

Radio shares step back, led by Emmis.
July 1, 2003... (From CBS Marketwatch (Pulses)) Byline: Jamie Francisco SAN FRANCISCO (CBS.MW) -- Emmis Communications headed lower Tuesday morning after its release of lower-than-expected fiscal first-quarter results, pushing other radio stocks to...

Techs start out July, second half on the wrong foot.
July 1, 2003... (From CBS Marketwatch (Stories)) Byline: Jamie Francisco SAN FRANCISCO (CBS.MW) -- Technology stocks began the second half of the year on a down note Tuesday, as PeopleSoft reiterated its opposition to Oracle's takeover bid and...