BUSINESS NOTES NASDAQ MAY DELIST YOUBET.COM INC.WOODLAND HILLS - Online wagering company Youbet.com Inc. is at risk of being delisted from the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. because its bid price has fallen below the standard $1. In a letter, Nasdaq officials gave the company until May 21 to boost its bid price. - Daily News L.A. jobless rate up in January Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County's seasonally adjusted Seasonally adjusted Mathematically adjusted by moderating a macroeconomic indicator (e.g., oil prices/imports) so that relative comparisons can be drawn from month to month all year. unemployment rate was an estimated 5.2 percent in January, vs. a revised 5.1 percent in December, the California Employment Development Department reported Friday. Total employment decreased by 93,500 jobs to 4,082,700 in January, said Bill Freed of the local EDD Noun 1. EdD - a doctor's degree in education DEd, Doctor of Education doctor's degree, doctorate - one of the highest earned academic degrees conferred by a university Office. ``Employment typically declines in January, when many temporary hires are laid off following the busy holiday season,'' Freed said. Nearly all industry divisions recorded payroll reductions from December to January, but the mining division was unchanged. Last month's seasonally adjusted unemployment rate for the state was 4.5 percent, and 4.2 percent for the nation. - City News Service Northrop claims Lockheed shutout SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. - Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. Corp. has accused Lockheed Martin Corp. of cutting it out of a $4 billion Army contract, escalating a fight among various companies over the shrinking number of military contracts. Northrop sued Lockheed in December. The lawsuit, filed in federal court in San Jose, claims that after Northrop helped Lockheed secure a contract to manufacture a new missile defense system Noun 1. missile defense system - naval weaponry providing a defense system missile defence system naval weaponry - weaponry for warships , Lockheed assigned Northrop's share of the job to one of its own production units. The dispute stems from the contract for the Army's Theater High Altitude Area Defense program. The system, tested at White Sands Missile Range White Sands Missile Range (WSMR), formerly known as the White Sands Proving Grounds, is a rocket range in New Mexico operated by the United States Army. The range covers an area of almost 3,200 mi² (8 287 km²), approximately three times the size of Rhode Island, making it , N.M., provides soldiers on the battlefield protection from missile assaults. - Associated Press Motorola warns of operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. CHICAGO - Motorola Inc., staggered by deepening slumps in its cellular phone and computer chip businesses, warned Friday that a big drop-off in orders and sales could result in its first quarterly operating loss in 16 years. It was the second earnings warning in six weeks by the high-tech giant, whose troubles with falling cell phone profits have been significantly worsened by the U.S. economic slowdown. - Associated Press Equity Office gets Spieker property CHICAGO - Equity Office Properties Trust Equity Office Properties Trust, headquartered in Chicago, Illinois, is the largest owner of office buildings in the United States. It was formed in 1976 by Samuel Zell [1] and in February 2007, was acquired by the Blackstone Group for $23 billion plus the assumption of , which owns more office buildings than any other publicly held U.S. company, is acquiring the top West Coast office building-owner - Spieker Properties Inc. - for about $4.7 billion in cash and stock plus debt. The deal, expected to close in the second quarter of 2001, was announced Friday after gaining approval from the boards of Chicago-based Equity Office and Menlo Park, Calif.-based Spieker Properties. Spieker Properties in Los Angeles include the Sepulveda Center and Westwood Tower and business districts in Santa Monica and Marina del Rey. Once it becomes final, it will add an additional 25 million square feet of office space to the 99 million that Equity Office already holds in 24 states and the company will own and operate 616 office buildings nationwide. - Associated Press Tech firm warns of short earnings PALO ALTO - Shares of Sun Microsystems Inc. fell as much as 6.6 percent Friday before rebounding after the network server maker warned that third-quarter earnings will fall short of expectations because of the faltering U.S. economy and a slowdown in demand for its equipment. Earnings for the quarter ending in March are expected to be between 7 cents and 9 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. , or about half the 15 cents per share predicted by analysts surveyed by First Call/Thomson Financial, the company said late Thursday. - Associated Press |
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