BRIEFCASE.Byline: - Staff and Wire Services Intel Corp. plans broad retooling SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden - Facing its stiffest competition in years and slowing demand for computers, Intel Corp. is planning a broad restructuring that will focus on every aspect of the chip maker's operations, Chief Executive Paul Otellini Paul S. Otellini (born October 12, 1950) is Intel Corporation's fifth Chief Executive Officer. Education Paul Otellini graduated from St. Ignatius College Preparatory. He holds a bachelor's degree in economics from the University of San Francisco. said Thursday. Intel shares rose slightly more than 3 percent after the announcement. Over the next 90 days, executives will identify underperforming business groups and cost inefficiencies but will not wait until the end of the review to start implementing changes, Otellini said. Oil-firm records sought by state SACRAMENTO - California will subpoena subpoena (səpē`nə) [Lat.,=under penalty], in law, an order to a witness to appear before a court. A subpoena ad testificandum [Lat. records from the state's 21 oil refineries This is a list of oil refineries. The Oil and Gas Journal also publishes a worldwide list of refineries annually in a country-by-country tabulation that includes for each refinery: location, crude oil daily processing capacity, and the size of each process unit in the refinery. and a half-dozen major oil companies as part of an investigation into rapidly rising gasoline prices, Attorney General Bill Lockyer William Westwood "Bill" Lockyer (born May 8, 1941) is the current State Treasurer of California. Prior to this, he served as California's Attorney General and head of the Department of Justice for the U.S. state of California. said Thursday. ChevronTexaco, ExxonMobil, ConocoPhillips, Valero, Shell and BP officials will be required to provide financial details to prove their multibillion-dollar profits aren't from profiteering prof·it·eer n. One who makes excessive profits on goods in short supply. intr.v. prof·it·eered, prof·it·eer·ing, prof·it·eers To make excessive profits on goods in short supply. , Lockyer said. ``The companies and their CEOs keep telling us to avert our eyes from the profits and focus on their costs. But they want us to take their word on faith,'' Lockyer said. Microsoft profits short of forecast SEATTLE - Microsoft Corp. said its quarterly income rose 16 percent, but the results fell shy of Wall Street expectations and the software company offered a tepid outlook Thursday for the current quarter. Company shares fell more than 6 percent in late trading Late trading Late trading of mutual fund shares occurs when investors placing trades after 4 PM receive the 4 PM price. These late traders can use the information revealed after 4 PM to guide their trades: buying funds when their current value is greater than their 4 PM value and . For the three months ended March 31, the Redmond software maker reported earnings of $2.98 billion, or 29 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with $2.56 billion, or 23 cents per share, in the same period a year earlier. Gateway reports widening of loss IRVINE, Calif. - Computer maker Gateway Inc. said Thursday its first-quarter loss widened on litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. expenses and weakness in the company's professional sales business. The company's loss for the quarter was $12.3 million, or 3 cents per share, versus a loss of $5.2 million, or a penny per share, last year. This year's results included $14 million in litigation expenses. Gateway shares fell 18 cents, or 7.6 percent, to $2.18 in the after-hours session. The stock had risen 12 cents, or 5.4 percent, to close at $2.36 on the New York<NO1>ZZNY<NO> Stock Exchange. Comcast income more than triples PHILADELPHIA - Comcast Corp., the nation's largest cable TV operator, said Thursday its net income for the first quarter more than tripled, buoyed by strength across all its business lines including once-lagging digital voice. The Philadelphia-based company earned $466 million, or 22 cents a share, in the latest quarter, compared with $143 million, or 6 cents per share, in the same period a year ago. The most recent quarter also got a boost from an investment gain of $64 million. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion