Tech profit woes send stocks down
NEW YORK - Stocks closed lower Monday as the technology sector remained under fire from concern about weakening profit growth.
The Dow Jones industrial average closed down 28.11 at 10,568.43, and the Nasdaq composite index fell 5.45, to 3,355.56.
Declining issues outnumbered advancers by a 5-to-4 ratio on the New York Stock Exchange, where volume came to 714.2 million shares, well below Friday's pace.
Lawyers question tiremaker chief
NASHVILLE, Tenn. - Attorneys representing customers who have sued Bridgestone/Firestone Inc. are hoping to get answers from the embattled tiremaker's top chief that will help bolster their case.
The lawyers began taking a deposition Monday from Chief Executive Officer Masatoshi Ono at a Nashville hotel. Mr. Ono was brought in through one of six hotel entrances, avoiding waiting reporters before he went to a room on the ninth floor for questioning. It was believed this was the first time he was interviewed by attorneys suing over his company's tires.
Airlines squabble over city's assets
HOUSTON - Continental Airlines is making a play for the Washington assets of US Airways, saying the rival airline's plans to sell them to cable executive Robert Johnson to satisfy regulatory concerns over its proposed acquisition by UAL Corp. is anti-competitive.
Continental first tendered its $215 million offer for the assets being sold to start-up DC Air on Oct. 2, when Chairman and Chief Executive Officer Gordon Bethune formally bid for US Airways' 119 jet slots and 103 commuter, short-haul slots at Ronald Reagan National Airport.