By editorial@silicon.com, 25 September 2001 11:33
NEWS US markets continued their march towards recovery overnight, but AOL Time Warner took a heavy knock in after hours trading. The company, which has suffered in recent months from reduced advertising revenues said yesterday that it would not reach intended sales and cash flow targets. The company finished 4.22 per cent down at $31.13. It achieved revenues of $38bn, markedly off its target of $40bn. Cash flow was $10.1bn, off by nearly $1bn. Elsewhere on the markets, the mood of investors was upbeat. Technology companies including Dell, Oracle and Intel put in good performances, pushing the Nasdaq into the green by five per cent at time of close. Blue chip companies made a turnaround to hike the Dow Jones by 4.5 per cent. This came after significant sell-offs by investors last week.
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