According to Reuters, Yahoo!’s (YHOO) profits dropped 61% in the last quarter but the shares rose on anticipation that its new web search advertising system is about to launch.
Reuters writes that Sun Microsystems (SUNW) has a small, unanticipated proft and KKR invested $500 million in the company..
Reuters also reports that Broadcom (BRCM) will take a $2.2 billion charge for back-dated options. The companies founder was blamed for a number of the grants.
Reuters writes that AMD’s (AMD) loss in the last quarter drove its shares down after hours.
Reuters says that Toyota (TM) is predicting its worldwide hybrid sales will be up 40% in 2007.
The Wall Street Journal reports that Bank of American (BAC) and Wachovia (WB) posted sharp profits increases in investment banking gains, but that slipping credit quality is likely to hurt results in 2007.
The New York Times reports that profits at EMC (EMC) doubled as its bet on software sales paid off.
The NYT also writes that revenue at telecom equipment company Alcatel-Lucent (ALU) fell 16%.
The FT reports that News Corp (NWS) has joined the bidding for The Tribune Company (TRB) in the hopes of a relationship between its New York Post property and Newsday, another large paper in teh New York area.
Barron’s writes that Seagate (STX) reported revenue above Wall St. estimates.
Douglas A. McIntyre
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