Word: nasdaq
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...Soon he may preside over its resale. Mao contemplates the latest street buzz: AOL is rumored to be trying to acquire community portal Netease, while Microsoft is said to be eyeing Sina. Across town, Charles Zhang, the founder of rival Sohu, is fighting to prevent a humiliating ejection from NASDAQ after Sohu's share price sank below $1 recently...
...this may not be the best moment for cyberspace. Napster is stumbling. NASDAQ is a bust. Whole sectors of the virtual economy are wrapping up their stories at Chapter 11. But who cares if investors lose faith in the digital world? The artists are sticking with it--at least the ones who lately have been making some galleries look like Circuit City, full of dot-matrix screens and wall-mounted monitors. Remember when videotape was the hot new medium? Compared with CD-ROM art and screen-saver art, with website artworks or virtual-reality goggles, videotape is starting to look...
...much for the rally. Wednesday, the Dow and NASDAQ hit the skids all over again on three bad earnings tidings: Communications-equipment maker Nortel warned that losses will widen beyond expectations in the current quarter. Disney announced plans to cut 4,000 jobs. And Palm said it will lose money in the first quarter - this after Wall Street dared to expect a profit from the hand-held computer king. Is this a case of one step forward, two steps back - or the other way around? TIME personal finance columnist and Wall Street guru Dan Kadlec explains...
...Kadlec: I think this is the pattern we're going to be seeing on Wall Street for a while. We had a really nice rally - the Dow has really surged, picking up 800 points since what was seemingly a spontaneous turnaround Thursday afternoon, and even the NASDAQ has been pretty strong...
...STARTED The NASDAQ nosedived, and FORTUNE 500 execs were looking for some answers...