Newsday from New York, New York • 47

7 me r-ayT '9 r- A wfo wUOIiACwO '-L4j X- MARKET STATS MARKETS Stocks MARKET INDEXES Cla Cks Chs 477453 26221716 193656 4304501 104811 1321913 -63181 5963882 DoWJOne Nasdaq Composes RAP 500 Russel DIARY Wall Street closed a quiet aeeaion modestly higher yesterday as companies reported generally positive earnings news but some investors were disappointed by faltering merger talks be-tween BellSouth and The market seemed to be taking a rest after the Federal decision to leave interest rates unchanged and ahead of the gross domestic product report today said Peter Cardillo president and chief strategist of Global Partner Securities Inc The break gives traders and investors to position themselves" he prise that it didn't happen this Merger news can have a powerful effect on the market The major indexes surged earlier this week when Bank of America Corp announced a (47-billion deal to acquire FleetBoston Financial Those gains were extended Tuesday after the Fed said it would leave rates unchanged A pickup in merger activity combined with good economic data strong earnings arid promising fourth-quarter forecasts could easily start a longer rally said Peter Dunay chief market and options strategist at Wall Street Access a New York-based brokerage firm we can break through this old highs that will help get a leg up Dunay said very funny one of the things we wonder is whether see 10000 on the Dow and nothing 2 percent We could mkn 10000 in two strong days a psychological closed up 2622 or 03 percent at 977453 Hie broader stock gauges also saw slight gains The Nasdaq composite index rose 430 or 02 percent to dose at 193656 The Standard Poor's 500 index gained 132 or 01 percent to close at 104811 i i BellSouth Carp closed up 67 cents at $26 after The Wall Street Journal reported it had called off its latest round of merger discussions with Carp Quoting anonymous sources the newspaper said BellSouth had balked at the prospect of buying the largest long-distance carrier for about $19 billion in cash and stock lost 87 cents or 44 percent to close at (1907 the third time danced this dance so in an Tll-be-Ueve-it-when-I-see-if said Tim Smalls a managing director and trader at SG Cowen Securities don't think the market was ttm by sur- 400 430 $38600 $2938 MOREY AID METAL! Prims rats lO-yrTnotayietd Goiobuncs Crude 08baml (West Texas) FOREIGM EXCHANGE think the market has gone up in a rather vivacious way the last couple of days and what seeing here is a bit of hesitancy on the part of investors and traders to commit money ahead of key Cardillo said upside today was The Dow Jones industrial average earner 3880 13120 3565 10833 17007 7622 11675 009240 Britain (Pound) Canada (Dalai) Euro (Euro) Japan (ton) CITY INC Reversal on Methodist Ads ON THE MOVE sa Coley The law firm Myers LLP leases about 135000 square feet of space or about 35 percent of the building and the seller occupies about 64000 square feet Coley said Bloomberg News Encatlm Dksctsr Brratar Raw Yark Chaptar Orsha's 5 CallUa Faasdatlaa af Aasrica Marilyn Hag-gerty-Blohm has been appointed executive director of the Greater New York Chapter of the Crohn's Colitis Foundation of America in Manhattan She will be responsible for day-to-day operations and will focus on expanding patient programming and education Haggerty-Blohm previously served as executive director of the Center for Animal Care and Control in Manhattan Quincy Gibbs Three World Financial Center Brookfield Properties Corp owner of the complex said yesterday The store is expected to open in February The World Financial Center is the 14-acre 8-million square-foot commercial core of Battery Park City and is home to such companies as Merrill Lynch American Express Dow Jones Deloitte Touche and others Banana Republic is among a handful of national retailers who lost their space in the 2001 attack on the World Trade Center that have returned to lower Manhattan Among the others are Borders Ann Taylor Loft and Nine West Banana Republic was represented in lease negotiations by Steve Asch of Manhattan-based retail space brokers Newmark New Spectrum Brookfield was in-house by Ed Hogan Alan Wax Kenneth Cole Profit Up on Higher Sales Kenneth Cole Productions Inc a clothing and shoe maker yesterday raised its quarterly dividend and said third-quarter profit rose because of higher sales and efforts to control costs The Manhattan-based retailer posted income of (10 million or 49 cents per share compared with a profit of (68 million or 33 cents a -share in the year-earlier period Revenue rose to (1321 million up from (1235 million last year driven partly by a 71 percent gain in consumer direct sales Wholesale revenue the larger part of the business rose 4 percent The company raised its quarterly dividend by 20 percent to 9 cents a Reuters has agreed to air an international Methodist commercials on the media Times Square electronic billboard reversing its earlier decision to reject the ads the church organisation said yesterday The Nashville-based United Methodist Communications which handles media campaigns for the United Methodist denomination originally had signed a contract with Toronto-based ad agency to air a 30-second commercial 10 times daily during the last half of November but Reuters declined to air it citing company policy The ad was to air on an electronic billboard on the side of headquarters at 3 Times Square According to a letter the church group said was sent to it by Reuters chief executive Thomas Glocer the company historically refused to accept political or religious advertising to keep from appearing biased but it would reconsider the position based on the argument that it should be given the same chance to in the commercial marketplace as corporate A Reuters spokesperson did not return cedis for comment last night Monty Phan Banana Republic Signs Winter Garden Lease Another former World Trade Center retailer is returning to lower Manhattan Banana Republic signed a lease for 8000 square feet of street-level retail space in the Winter Garden at For more local business news log on to wwwnewsday combuslness tf i A we iw share Looking ahead Kenneth Cola backed its prior outlook for the fourth quarter saying it still expects to earn 46 cents to 48 cents a share on revenue of (120 million to (124 million Reuters STOCK WATCH How New York's 10 largest stocks based on market value fared yesterday CITY STOCKS The Nowaday Bloomberg New York index 170 Brookfield Properties Goes to Washington Brookfield Properties Corp lower largest office landlord agreed to pay (1575 million for a 12-story office building two blocks away from the White House to enter the Washington market Brookfield is buying -the 383000-square-foot' building from Union Labor Life Insurance Co Brookfield chief executive Ric Clark said during a conference call with investors and analysts The building is at 1625 Eye St have very good expectations for Clark said during the conference call The half-vacant building which has five levels of underground parking was completed earlier this year said Brookfield spokeswoman Melis 165 160 155 Cfttgrp Pfizer AmtntGp Altria VerizonCm JPMorgCh Viacom TimeWam -AmE MorgE 150 Jan 1 1907-100 -ijr jr jlt a jus? ci 1.