According to Reuters, Microsoft’s (MSFT) strong quarter and forecast sent shares up over 10%.
Reuters writes that Oracle (ORCL) has turned down BEA Systems’ (BEAS) proposal that the company be sold at a price above Oracle’s current offer.
Reuters writes that Bank of America (BAC) has dropped out of the wholesale mortgage business.
The Wall Street Journal writes that crude oil rose above $90 a barrel.
The Wall Street Journal writes that the UAW will begin negotiations with Ford (F), which may need larger cost cuts than rivals.
The Wall Street Journal writes that Comcast’s (CMCSA) earnings were hurt by competion for phone company offerings.
The New York Times writes that the CEO of Merrill Lynch (MER) spoke with Wachovia about a merger without consulting his board.
The New York Times writes that Vonage (VG) sellted a patent dispute with Verizon (VZ).
Barron’s writes that shares of KLA (KLAC) dropped on profit troubles.
Bloomberg writest that the CEO of Motorola (MOT) may have bought himself time through firings and slightly improved results.
CNN Money writes that AIG (AIG) may face a sub-prime mortgage hit of as much as $8.8 billion.
Douglas A. McIntyre
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