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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 09, 2000
Page
6
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NEW YORK AP The Dow Jones fell sharply after Procter & Gamble warned of disappointing earnings and an executive shakeup. The Dow dropped 144.14 to 10,668.72 with the Nasdaq at 3,825.56 and the S P 500 at 1,461.67. Microsoft slid amid the antitrust split buzz while techs mainly rose. A Labor Department report showed unemployment claims at year’s high.
Microsoft co founder Bill Gates vows to appeal after U S Judge Thomas Penfield Jackson orders a breakup of the company. Gates says the step is the start of a new chapter and Microsoft will seek a stay while pursuing an appeal. The court ruling cites credible evidence of continuing anticompetitive behavior in PC operating systems and browsers.
Procter and Gamble appoints A G Lafley as chief executive replacing Durk I Jager after a short turbulent tenure. John E Pepper is reelected chairman of the board. The firm warns earnings will fall short of Wall Street expectations as investors reassess the company.
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