Newsday from New York, New York • 45

-rrtutrr" srrz rn TJ-A i i a 5f4 MARKETS it- er in earlier dealings increased its ad-' vance The Nasdaq composite index rose 2469 Or 15 percent to 170610 Hie Standard 500 index ad- vanced 931 or 1 percent to 98811 Still analysts expect the news from Iraq to have a lasting effect on Wall Street because primary focus remains second-quarter earnings For the past two weeks Wall Street has been alternating between rallies and sell-offs as most companies reported better-than-expected earnings but failed to raise their estimates for the third and fourth quarters Investors are questioning whether stocks which had rallied since mid-March had climbed too high too feat Since March 11 when the market hit lows for the year the Nasdaq has climbed 842 percent the-Dowhas gained 217 percent and the has advanced 234 percent Analysts say many stocks are now priced at a premi um particularly given the feet that second-quarter earning impressed investors the way first-quarter results did the focus is almost exclusively on the earnings coming out whereas before there were same bargains to be had and you could ride said Kevin Gaughan portfolio manager and equity strategist at Strong Financial Carp in Milwaukee Chip makers and chip equipment makers gave tech stocks abooet following Texas Instruments earnings report and a string of upgrades within the sectors from Lehman Brothers US Treasuries rose as a month-long rout that brought 10-year note yields to their highest level since December buoyed the appeal of government debt are definitely reasons to after the of the past four weeks said Andrew Roberts London-based bond strategist at Merrill Lynch Stocks rose yesterday following Texas solid wining report late Monday and news that Saddam two sans were killed which traders said soothed fears the United States could be stuck in a quagmire in Iraq market is celebrating a said Arthur Hogan chief market analyst at Jefferies Co explaining that of the major pieces of background noise in the market was the disappointment that we have clear evidence of weapons of mass destruction or clear evidence that we have Saddam Hussein or any of his direct After losing as much as 5989 in early trading the Dow Jones industrial average dosed up 6176 or 07 percent at 915845 On Monday the Dow shed 9146 points on disappointing earnings from Merck and Lexmark International The broader market narrowly high i CITY INC Red Lobster Lands in Times Square ON THE MOVE Exacathra Vies senior vice president of technical operations and aircraft programs Tim Clay? don is senior vice president of sales and business' development and A1 Spain is senior vice president of operations The vice president of inflight experience is 30-year Delta Air Lines veteran Vicky Stennes Anderson and Spain joined JetBlue in 1999 Anderson formerly director of corporate planning will oversee Jet- technical operations LiveTV business and aircraft programs Spain formerly vice president of operations will be in charge of flight and systems operations and JetBlue University the in-house training program Claydon who managed Web-booking strategies when he started in 2001 will oversee sales and marketing revenue management and information tech- nodogy departments Quincy Gibbs FleetBoston Financial Carp in Manhattan has named Leo Gonzalez executive vice president and head of retail operations for the metropolitan area He will be responsible for sales management operations and training for all employees Gonzales previously was senior vice president and head of branch operations for Laredo National Bank in Texas before joining Fleet Quincy Gibbs In June Stewart pleaded not guilty to the charges She has stepped down as chairman and chief executive of Martha Stewart Living Omnimedia Inc and awaits her January trial Martha Stewart living and Kmart representatives were not available for comment on the poll Reuters Earnings Up 10 Colgate-Palmolive Co the Manhattan-based maker of products ranging from soap to dog food yesterday said profit rose 10 percent in the second quarter as new products and the weaker dollar helped boost sales The improved results continued a trend for the of Colgate tooth paste Science Diet pet food and a host of other products helping the company post some of the steadiest earning growth in the sector in recent years Colgate has been helped by pipeline of new products including Simply White tooth-whitening gel Higher sales and margins have allowed the company to increase advertising just introducing a lot of new Red Lobster struggling to boost business at its hundreds of eateries opened its newest restaurant day in Times Square The three-story eatery which includes two 420-gallon fish tanks a 10-foot revolving neon lobster and sea- side 1 decor is located at 5 Times Square the Ernst Young Building 1 The restaurant is the third Red Lobster that the Orlando-based unit of Darden Restaurants Inc has opened this year in New York City In February Red Lobster opened a restaurant in the Queens Place mall in Elmhurst and in March one in Gateway Plaxa in the East New York section of Brooklyn A unit is planned for the Bronx next year York is one of our most important- Red president Edna Morris said view the boroughs of the as key expansion areas for Olive Garden 1 in Times Square is a three-floor restaurant that opened in the mid-1990s and is that highest-grossing In the fiscal' year ended May 25 sales at Red Lobster restaurants open at least a year rose 27 percent due to menu changes and price increases but customer traffic declined s-'- Alan Wax said Joseph Altobello ana-rid Markets ite is still helping them out And overseas they continue to take market The company met analyst expectations by posting second-quarter profit of $3598 million or 62 cents a share compared with $327 million or 55 cento a share a year earlier Reuters I STOCK WATCH How New York's 1 0 largest stocks based on market value fared CITY STOCKS The Newsday Bloomberg New York index 165 Trial Likely To Hurt Her Business Martha customers are los-- ing some of their appetite for her home-decorating products as her trial on obstruction-of-justice charges draws nearer' In a survey of 1000 consumers by Research Group 286 percent said they were less likely to nuy Martha Stewart-brand products since the lifestyle trendsetter was indicted June 4 on charges she interfered with a probe into her ImClone Systems Inc stock sale A year earlier after news of the ImClone broke just 178 percent of those polled said shy away from her products The new poll bolstered expectations that brand would suffer from its dose identification with her perso- na The poll released yesterday and conducted this month had a 43 Cent margin of error l' JetBlue Promotes Execs Adds VP Post One month after announcing the pur-chase of 100 new planes JetBlue nas bolstered its management staff by creating three senior vice president positions and naming a new vice president of inflight experience Tom Anderson has been promoted to 160 155 Pfizer Cilia rp AmlntGp VsrizonCm Altria AOLTW Viacom JPMorgCh Am Exp BrMySq 150 St 145 Jan1 1997100 For more local business news log on to combusiness ji t--r MM Vf li 1 1 1 1-.