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Investor's Business Daily

| February 01, 2005 | COPYRIGHT 2005 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Unity, "Holy War' Urged In Iraq

1In the wake of Sunday's historic vote, PM Ayad Allawi urged Iraqis to work together to build a new Iraq, while Abu Musab al-Zarqawi's al-Qaida-linked terror group vowed in a Web statement to continue its "holy war." Partial election results could be out Tues. The main Shiite clergy-backed alliance claimed a large victory. Sunni turnout continued to be an issue. More on this page

Stocks Up As Mergers Continue

2The Dow rose 0.6%, the S&P 500 0.8% amid successful Iraqi elections and a flurry of mergers. Small caps led as the S&P 600 rallied 2%. The Nasdaq rose 1.3%. But the major indexes still fell in Jan. MetLife will buy a Citigroup unit; SBC is buying ex-parent AT&T. NYSE volume rose, but Nasdaq trade was lighter. More on this page, B2

SBC, MetLife Join Merger Rush

3Continuing a spate of big deals, SBC said it'll buy ex-parent AT&T for $16 bil; MetLife agreed to buy Travelers Insurance from Citigroup for $11.5 bil; and publisher Lee Enterprises said it will buy Pulitzer for $1.4 bil. Also, Time Warner and Comcast reportedly jointly bid $15 bil to buy the assets of bankrupt Adelphia. More on this page, A2

Oil Prices Fall Early, Close Up $1

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