NEW YORK - Stocks meandered to a mixed finish Thursday as the Dow Jones industrial average rose 7.54 to close at 10,777.28.
The Nasdaq composite index fell 106.25, to 3,538.71, and the Standard & Poor's 500 fell 10.59, to 1,437.21.
Declining issues outnumbered advancers by a 5-to-4 margin on the New York Stock Exchange, where volume totaled 986.89 million shares. Company announces asset increaseFirst Bank of Georgia's holding company announced at a shareholders meeting Wednesday that assets had reached $92 million, close to a 100 percent increase from the previous year.
Board members for Georgia-Carolina Bancshares, the community bank's Thomson-based parent, also re-elected five members to three-year terms: Patrick G. Blanchard, David W. Joesbury, Sr., John W. Lee, Robert N. Wilson, Jr. and Bennye M. Young.
Board member George Inman, founder of Club Car, was appointed company vice chairman.
Department OKs purchase of firm
NEW YORK - International Paper's proposed $7.3 billion purchase of rival Champion International has won approval from antitrust regulators at the Department of Justice, International Paper said Thursday.
International Paper, which makes 1,895 tons of bleached paperboard in Augusta daily, said it expects to complete the acquisition next month.
State Internet access will increase
LAWRENCEVILLE, Ga. - Relying in part on rural development tax breaks from the state, BellSouth Corp. announced plans Thursday to deliver high-speed Internet access to rural Georgia residents and to all of the state's public schools.
During a news conference with Gov. Roy Barnes, company officials said that during the initial phase of the project, high-speed capability will be be extended locally to Thomson, Albany, Columbus, Macon, Savannah and other markets. The company currently provides high-speed service in Augusta.
Preliminary deal on ABC reached
NEW YORK - Time Warner Inc. and The Walt Disney Co. have reached a tentative deal to carry ABC's network shows over Time Warner's cable lines, easing tensions in a corporate feud that had resulted in 3.5 million homes being unplugged from ABC earlier this month.
Time Warner Chairman Gerald Levin on Thursday said the two sides had reached an agreement in principle on carrying ABC. But Mike Luftman, a spokesman for Time Warner Cable, emphasized later that the agreement was not yet final.