Business - Page 34

Business

Reuters - Yahoo Inc. posted on Tuesday a 61 percent drop in quarterly profit, weighed down by option expenses, but the stock rose on news that a new Web search advertising system was nearly complete.

Investor's Business Daily - There are two kinds of real estate. There's the kind that's been down in the dumps; that would be on the residential side. And there's the bright-eyed, happy one -- the commercial real estate market. More Info...  

Reuters - Sun Microsystems Inc. on Tuesday posted a quarterly profit versus a year-ago loss as revenue rose 7 percent, fueled by higher sales of its computer servers.

Reuters - Xerox Corp. posted better-than-expected quarterly profit on Tuesday, but anemic revenue growth disappointed investors, who drove down the stock as much as 3.5 percent.

Reuters - Mitsubishi UFJ Securities Co. Ltd. (8615.T), the brokerage arm of Japan's biggest banking group, and online broker Matsui Securities Co. Ltd. (8628.T) are discussing capital and operational ties, company and financial sources said on Tuesday.

AP - Gap Inc. dumped Paul Pressler as chief executive Monday after a year of broken promises that culminated in a dismal holiday shopping season to deepen the clothing retailer's misery.

Business

Reuters - Gap Inc. Chief Executive Paul Pressler resigned from the retailer on Monday after more than two years of weak sales and a failed attempt to revive the struggling clothing brand.

Investor's Business Daily - How can you find out whether mutual funds and other big players are buying or dumping a stock? Check out the stock's moving averages. More Info...  

Reuters - American Express Co. said on Monday that fourth-quarter profit rose almost 24 percent as holiday spending reached record levels among customers of the No. 4 U.S. credit card issuer.

Reuters - Pfizer Inc. said on Monday it plans to cut 7,800 more jobs, including over 20 percent of its European sales force, in an effort to save up to an additional $1 billion by the end of 2008 and ensure profit growth despite flat revenue.

Reuters - SK Corp. (003600.KS), Asia's third-biggest oil refiner, reported on Tuesday its 2006 net profit fell 15.7 percent due to weak refining margins and mild winter weather that has been hindering demand for fuel oil.

Reuters - San Francisco Federal Reserve Bank President Janet Yellen said on Monday that U.S. interest rates were high enough to cut inflation, but that risks have arisen from the robust labor market. More Info...  

Reuters - Trucking company Swift Transportation Co., Inc. has agreed to a raised takeover offer by an entity formed by Jerry Moyes, the company's founder and largest shareholder, in a deal worth $2.36 billion. More Info...  

Reuters - The average retail price for a gallon of gasoline in the United States fell nearly 14 cents over the past two weeks, but the drop may be over, as cheaper gas lures more people to hit the road, according to a leading industry analyst. More Info...  

Reuters - Congressional lawmakers are concerned a merger between US Airways and Delta Air Lines will trigger wider consolidation and hurt consumers by reducing service and increasing fares. More Info...  

Business Reuters - U.S. stock investors will be taking their cues this week from a barrage of earnings reports as well as from economic data on housing activity and sales of big-ticket items. More Info...  

Reuters - Merlin, the new agency representing the world's independent music sector, has agreed a deal with digital music company Snocap which will allow its labels' music to be sold from Web sites such as MySpace. More Info...  

Reuters - Newspaper publisher and broadcaster Tribune Co. confirmed on Saturday it was reviewing offers from third parties, but added it was also looking at actions the company could take alone.

Reuters - Krispy Kreme Doughnuts Inc. on Friday posted a narrower third-quarter net loss as costs for closing poorly performing stores fell.

Business

Reuters - Motorola Inc. said on Friday it plans to cut 3,500 jobs and save $400 million, aiming to return its operating margin to a double-digit percentage level in the second half of 2007.