1.   Investors were cheered by news of the merger.

2.   At first blush, the news might cheer average investors the way average golfers are heartened when they watch Tiger Woods flub a shot.

3.   Microsoft was cheered by news that the government was withdrawing the sweeping information demand at the heart of the New York suit.

4.   That news cheered investors, who had been worried that results would be dragged down by its Blockbuster video stores.

5.   The news cheered environmentalists greatly.

6.   The news cheered analysts.

7.   Investors were also cheered by news indicating Cisco Systems would not further reduce its performance outlook.

8.   That news should cheer the hundreds of thousands of refugees, terrified of returning home unless government troops and Serb police are held back.

9.   Traders were also cheered by news that Prime Minister Junichiro Koizumi was drawing up a new antideflation economic recovery plan.

10.   The news cheered the Athens stock exchange, which posted a gain for the first time since news of his illness broke on Monday.