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Computer Glitches Heaped Fuel on Stock Sell-Off

Wall Street's Wednesday rebound helped repair some of the psychological damage caused by Tuesday's 416-point loss in the Dow, but questions remain about computer malfunctions that may have contributed to the Dow's plunge. Dow Jones, which collects and reports market data, and the New York Stock Exch...

Intel Profits Shrink Amid Chip Price Wars

Fierce price competition in the computer chip sector caused market leader Intel to see far lower profits in the fourth quarter, even though sales were up strongly. Intel said Wednesday that revenue for the quarter was $9.7 billion, 5 percent below the same quarter a year ago but up 11 percent from t...

AMD Shares Plunge on Weak Forecast

Advanced Micro Devices, the world's second-largest microprocessor maker, warned Thursday that its fourth quarter results would come in below previous expectations. The news sent the company's shares spiraling and raised questions regarding the overall strength of the technology sector. AMD said rev...

Report: Sony Launching Video Download Service for PSP

Sony will reportedly launch a video download service for users of its PlayStation Portable devices early next year, a move that could put it into direct competition with Apple's iPod video devices and its iTunes Movie Store. Sony Pictures Home Entertainment is in negotiations with several possible c...

Verizon Posts Lower Profits Due to MCI Acquisition

Verizon Communications said Tuesday that its net profit fell compared to a year ago as it continued to spend to integrate its long-distance acquisition MCI. Meanwhile, revenue grew mainly thanks to expansion in its wireless business. Verizon also acknowledged that its number of landline customers f...

eBay Meets Targets, Plans Fee Increases

Online auction and fixed-sales giant eBay reported earnings that largely met expectations and set the outlook higher for the remainder of the year. The company also unveiled plans to raise fees in a bid to further boost revenues. eBay posted earnings of US$250 million, down from $291.6 million in t...

Toys ‘R’ Us Wins Right to End Amazon Partnership

A judge has cleared the way for Toys 'R' Us to terminate its e-commerce partnership with Amazon.com, a 10-year dot-com era partnership the toy seller has been seeking to terminate for nearly two years. Toys 'R' Us sued Amazon in May of 2004, seeking to terminate an agreement struck in 2000 under whi...

Nortel Eyes Multimedia Convergence with $99.5 Million Buy

Communications gear maker Nortel plans to buy Tasman Networks, a maker of high-performance enterprise routers, in a bid to beef up its product offerings in the area of multimedia data delivery. Ontario, Canada-based Nortel said it would pay US$99.5 million in cash for San Jose, California-based Tasm...

New Dell Plant Opens Amid Tax-Break Controversy

Dell computer has officially opened what it calls its largest, most advanced manufacturing plant in North Carolina, a move meant to underscore the company's commitment to operating in the United States but one that has already created its share of controversy. Dell opened the 750,000-square-foot fac...

Verizon Expands Wireless Broadband, Cuts Prices

Hoping to grab as many customers for its wireless broadband service before key competitors push into the market, Verizon Wireless cut monthly prices as it rolled the high-speed service out in several additional cities. The price cuts of 25 percent drop the price of the service, known as BroadbandAcc...

EBay Expands with $415 Million Rent.com Acquisition

The recent wave of mergers crashed into the e-commerce space today when auction giant eBay said it would acquire Rent.com for US$415 million in cash and stock. The purchase extends eBay's already sprawling reach into the rental real estate industry. Rent.com lists apartments and homes for rent, rely...

Soaring Profits Send Google’s Stock Sky High

Search engine and tech darling Google did even more than everyone expected in its first earnings report since going public in August: It blew away estimates and posted triple-digit profit growth as its core search-advertising business continues to expand rapidly -- sending its stock price soaring. G...

BUSINESS BRIEF

Record High Oil Prices Send Markets Lower

Oil prices weighed heavily on U.S. stock markets today as investors were left to ponder not if but when oil will break the $50 barrier -- and what will happen as a result. Oil futures shot to new high levels, reaching $49.64 a barrel on the New York Mercantile Exchange, up 76 cents on the day. That ...

BUSINESS BRIEF

Stocks Show Modest Gains as Ford Roars, Oil Soars

A bullish outlook for the third quarter and the rest of the year from Ford Motor Co. helped give stocks a lift to close out the week, but pressure from a spike in oil prices pared the gains. Ford said its financial services unit was largely responsible for the improved outlook, rather than boosted c...

Network Associates Closes Up on Microsoft Bid Talk

The chief executive of Network Associates quashed speculation Tuesday that his company is in talks to be acquired by Microsoft, cutting into earlier gains made by the stock, which still managed to close up nearly 4 percent. Shares in the Santa Clara, California-based company ended off their best lev...

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