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American Morning
Minding Your Business: Uncertainty Reigns Supreme on Wall Street
Aired February 14, 2003 - 07:50 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
PAULA ZAHN, CNN ANCHOR: We're going to check out the markets now with Andy Serwer, who has some thoughts about how the markets might react to Hans Blix's speech, as well as other matters this morning.
How're you doing?
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning. Happy Valentine's Day to you.
ZAHN: Thank you.
SERWER: Let's take a look back at yesterday though, quickly, Paula. It could have been a lot worse. The Dow was down triple digits at one point. It ended up only down 8 points. What happened earlier in the day, all kinds of rumors and news events sweeping through the markets. A second bin Laden tape, did that exist? No. Battery Park tunnel, an investigation there, the London situation, and those things sort of settled out during the day, and the markets came back.
Of course, Hans Blix, all eyes will be on that. Dell Computer should be active today.
I want to talk a little bit about the ABC News/CNN merger. It looks like that's off.
ZAHN: It's off, isn't it?
SERWER: As I've been reporting for weeks, their high-level executives, both inside and outside the company, besides Ted Turner, who were against the deal looks like they won out. AOL issued a statement yesterday, and so we're going to rate that, because I think that it's a good idea that the merger did not take place. I'm going to call it a "getting warmer." It would have been too much pain and too little gain for both ABC and CNN. So, now we're going our separate ways.
And you're right. Hans Blix is going to be the big story on Wall Street. People are just going to be sitting there watching him on the floor of the exchange.
ZAHN: I didn't want you to take it too personally that Jack got the chocolate with the angels. Do you know what you get, my man?
SERWER: Oh!
ZAHN: It's a little tuxedo heart.
SERWER: Oh, that's great. Well, thank you very much.
ZAHN: A stand-up kind of guy.
SERWER: I've got something for you later on.
ZAHN: Oh, great!
SERWER: Appreciate it.
ZAHN: Happy Valentine's Day.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Street>
Aired February 14, 2003 - 07:50 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
PAULA ZAHN, CNN ANCHOR: We're going to check out the markets now with Andy Serwer, who has some thoughts about how the markets might react to Hans Blix's speech, as well as other matters this morning.
How're you doing?
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning. Happy Valentine's Day to you.
ZAHN: Thank you.
SERWER: Let's take a look back at yesterday though, quickly, Paula. It could have been a lot worse. The Dow was down triple digits at one point. It ended up only down 8 points. What happened earlier in the day, all kinds of rumors and news events sweeping through the markets. A second bin Laden tape, did that exist? No. Battery Park tunnel, an investigation there, the London situation, and those things sort of settled out during the day, and the markets came back.
Of course, Hans Blix, all eyes will be on that. Dell Computer should be active today.
I want to talk a little bit about the ABC News/CNN merger. It looks like that's off.
ZAHN: It's off, isn't it?
SERWER: As I've been reporting for weeks, their high-level executives, both inside and outside the company, besides Ted Turner, who were against the deal looks like they won out. AOL issued a statement yesterday, and so we're going to rate that, because I think that it's a good idea that the merger did not take place. I'm going to call it a "getting warmer." It would have been too much pain and too little gain for both ABC and CNN. So, now we're going our separate ways.
And you're right. Hans Blix is going to be the big story on Wall Street. People are just going to be sitting there watching him on the floor of the exchange.
ZAHN: I didn't want you to take it too personally that Jack got the chocolate with the angels. Do you know what you get, my man?
SERWER: Oh!
ZAHN: It's a little tuxedo heart.
SERWER: Oh, that's great. Well, thank you very much.
ZAHN: A stand-up kind of guy.
SERWER: I've got something for you later on.
ZAHN: Oh, great!
SERWER: Appreciate it.
ZAHN: Happy Valentine's Day.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Street>
