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MyPoints sold to United Online

WOODLAND HILLS - United Online Inc. paid $56 million to acquire MyPoints Inc. from UAL Corp, the Internet services company announced Monday. The online direct marketing company, a 100-employee subsidiary of United Airlines with offices in San Francisco and Schaumberg, Ill., features a database of 4.5 million members.

United Online will operate MyPoints.com as a wholly owned subsidiary. Last year, it recorded a 44 percent increase in revenue, with $38.4 million in sales and $2.4 million in operating income.

Arts & Antiques gets new bosses

MALIBU - CurtCo Publishing, which puts out mega-upscale titles such as Robb Report, Worth and ShowBoats International, announced Monday that it has acquired Arts & Antiques.The purchase includes the 28-year-old title, which also targets the luxury market and boasts a circulation of 105,000 and the international exhibition ARTscottsdale. Terms of the deal were not announced.

Alcoa profits soar on high demand

NEW YORK - Kicking off earnings season, aluminum producer Alcoa Inc. posted a first-quarter profit Monday that soared well above Wall Street's estimates thanks to strong demand and favorable metal prices.

The company earned $608 million, or 69 cents per share, compared with earnings of $260 million, or 30 cents per share, during the same period a year ago. The results included a loss of a penny per share from discontinued operations. Analysts, on average, were expecting earnings of 51 cents per share, on sales of $7.2 billion, according to a Thomson Financial poll.

IHOP dividends rise like biscuits

GLENDALE - IHOP Corp. announced a one-time dividend Monday. Shareholders of record as of May 2 will receive $0.25 per share, payable on May 23.

Treasury bills at 5-year high

WASHINGTON - Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels in more than five years.

The Treasury Department auctioned $14 billion in three-month bills at a discount rate of 4.570 percent, up from 4.535 percent last week. An additional $13 billion in six-month bills was auctioned at a discount rate of 4.700 percent, up from 4.670 percent last week.

Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, rose to 4.85 percent last week from 4.82 percent the previous week.
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Title Annotation:Business
Publication:Daily News (Los Angeles, CA)
Date:Apr 11, 2006
Words:392
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