IBD'S TOP 10.(A)

ChevronTexaco Buying Unocal

1The No .2 U.S. oil company will buy rival Unocal for $18 bil in cash, stock and assumed debt as it moves to bolster soaring profits by tapping into another vein of oil and natural gas. ChevronTexaco valued its offer at $62 per share, nearly 4% below Unocal's Friday close. Unocal, which had surged 20% recently on buyout rumors, fell 7% to 59.60. Chevron fell 4% to 56.98.

Oil Tops $58, But Closes Lower

2May crude rose to a new high of $58.28 a barrel overnight on an Iraqi disruption before closing off 26 cents to $57.01. A Venezuelan refinery whose closure sent oil soaring Friday partially restarted. OPEC said it may lift output by 500,000 barrels a day if prices stay over $55 for 2 weeks. Also, retail gasoline rose 6.4 cents to a new high of $2.22 a gallon, the Energy Dept. said. More on B13

Stocks Reverse For Small Gains

3 The Nasdaq turned a 0.6% intraday deficit into a 0.3% gain, but volume fell. The S&P 500 and the small-cap S&P 600 also rose 0.3%. NYSE also trade sank. Diversified operations, discount retail, machinery and financials rallied. A few stocks broke out while some leaders held firm. Bonds traded quietly, as the 10-year Treasury yield inched up to 4.46%. More on this page, B2

AIG Rises On Spitzer Deal Hopes