Word: nasdaq
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...Losers PIN CHAKKAPHAK U.K. court approves Thai financier's extradition. That whole Asian financial crisis? His fault BANGARU LAXMAN Still time for med school. Prez of India's ruling party caught on camera accepting bribes MIR Russian space station crashing below the 2000 level?no, wait, that's the NASDAQ Verbatim...
...last interest-rate hike had dramatic consequences (Greenspan denies being wrong about fighting phantom inflation while tech stocks crashed to earth all around him), will never let him live it down. And when the Greenspan-adoration bubble bursts, it'll make bigger global economic news than the NASDAQ...
...fair, Yahoo's news was just one act in the carnival of carnage that was high tech last week. Cisco and Intel predicted big revenue drops and job cuts, a combination that set the nasdaq up for a 5.3% fall on Friday. The index is off 59% from its peak, reached a year earlier. Even the good news hurt--unemployment was stable but wages grew, undermining the Street's expectation that the Federal Reserve will deliver a big interest-rate cut later this month...
What sweet irony. Even as the new economy-loaded NASDAQ index continued its death spiral last week, investors gobbled up shares of Krispy Kreme Doughnuts as if cholesterol were a newfound health food. And while the tech gang was frantically dialing down its earnings estimates, Krispy Kreme announced profits that easily beat the forecasts.The stock soared to $79.19, up $6.68 in an otherwise dreadful week...
Krispy Kreme's doughnuts have outperformed microchips, routers and 10-gigabit lasers since the Winston-Salem, N.C., chain went public at $21 a share last April--just as the NASDAQ started its swoon. The company has become so hot since the offering that it plans to quit NASDAQ in May for the industrial-age New York Stock Exchange...