Buyers favor techs in mixed trading
NEW YORK - Technology stocks stretched their winning streak to four sessions Wednesday as the market grew more optimistic about the sector's chances for recovery this year. Investors were still cautious, opting to cash in some blue chip profits.
The Nasdaq closed up 52.36 at 2,220.60. The Dow Jones industrials fell 21.66 to 10,876.68, and the Standard & Poor's 500 index inched up 0.99 to 1,267.43.
Advancing issues narrowly beat decliners on the New York Stock Exchange, where consolidated volume was 1.59 billion shares, up from 1.40 billion Tuesday.
Executive's severance disclosed
ATLANTA - Former Coca-Cola Co. President Jack Stahl received $3.5 million and immediate access to 203,000 shares of restricted stock as part of his separation agreement with the company, documents show.
According to the documents filed Tuesday with the Securities and Exchange Commission, the limitations on another 203,000 shares will be lifted at the end of this year.
In addition, the company will provide Mr. Stahl, 48, with office space and secretarial services for a year. He resigned as president and chief operating officer March 4, about the time Chairman Doug Daft reorganized the Atlanta-based soft drink giant's top management.
Site helps inform bond-holders
The Bureau of Public Debt's Treasury Hunt program allows people to find out whether they unknowingly have a matured savings bond, a bond the postal service couldn't deliver or an interest payment that was returned to Public Debt.
Investors can go to www.savingsbonds.gov and click on the Treasury Hunt link, which contains information on about 160,000 undeliverable bonds, undeliverable interest payments, and matured Series E, H and HH savings bonds.
The goal is to help Public Debt find the owners of about 35,000 unclaimed bonds the Federal Reserve wants to deliver. Investors enter their identification information on the Web site, and the database is searched for any undelivered bonds.
Delta appoints new top officers
ATLANTA - Delta Air Lines is promoting Frederick W. Reid, a 30-year airline industry veteran, to president and chief operating officer. He had been chief marketing officer since joining Delta in 1998.
Leo H. Mullin, Delta's chairman and chief executive, also announced Wednesday that Vicki Escarra, the former executive vice president of customer service, has been promoted to chief marketing officer to succeed Mr. Reid, 50.
Ms. Escarra, 48, began her Delta career in 1973 as a flight attendant.