NEW YORK -- Stocks closed mostly lower Tuesday as investors, growing more cautious as next week's Federal Reserve meeting approaches, locked in profits from the stunning runup in technology stocks.
The Dow Jones industrial average fell 101.53 to close at 10,617.32, its first decline since Nov. 2.
Declining issues outnumbered advancers by a 5-to-4 margin on the New York Stock Exchange, where volume totaled 848.67 million shares.
Analysts: UPS stock might soar
ATLANTA -- It's not a dot.com or a high-tech outfit, but United Parcel Service, which delivers many of the goods bought online, is expected to soar as high as many hot technology stocks when it begins trading publicly today.
The 92-year-old Atlanta-based company's debut on the New York Stock Exchange is expected to be the biggest domestic IPO to date as investors rush to snap up UPS' Class B stock, with an estimated price of $47 to $49 per share.
CEO tries to stop drug merger
NEW YORK -- Warner-Lambert Co.'s chief executive appealed Tuesday to the 17 board members of Pfizer Inc. in an attempt to persuade the prescription drug maker to back off its hostile $74.6 billion takeover offer.
Pfizer made its offer last week in an attempt to break up Warner-Lambert's $67 billion merger with American Home Products Corp.
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