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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Mar 03, 2004
Page
6
Market in review highlights include stocks with U S and Canadian notes, recent changes in ownership and warrants, and mutual fund activity. The report notes reverse splits and large stock splits in the past 62 weeks, with commentary on price earnings and losses over the last year.
New York traders pulled back after Monday’s gains as investors fretted about a stronger dollar and possible rate hikes. The Dow fell 86.66 to 10591.48, the S&P 500 slipped 6.86 to 1149.10, and the Nasdaq declined 18.15 to 2039.65 amid light news and high oil prices.
Former WorldCom CEO Bernard Ebbers is indicted on securities fraud conspiracy and false filings for allegedly inflating earnings by 11 billion dollars. CFO Scott Sullivan pleads guilty and agrees to testify to reduce potential sentences, citing remorse and desire to preserve the company. Ebbers is to be arraigned and resigned in 2002 amid the largest corporate fraud case in U.S. history.
American Electric Power completes sale of its 70 percent interest in Nanyang General Light Electric Company owner of a China power plant. Henan Power buys for 34.5 million dollars as AEP trims assets to reduce debt and bolster its balance sheet.
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