Churchill Downs Incorporated to Acquire Youbet.com, Inc. (Business Wire)
LOUISVILLE, Ky. BURBANK, Calif.----Churchill Downs Incorporated and Youbet.com, Inc. announced today they have entered into a definitive merger agreement under which CDI would acquire all of the outstanding shares of Youbet in a transaction valued at approximately $126.8 million based on the Tues.
Applied Materials to cut 1,300 to 1,500 jobs (AP)
Applied Materials Inc. said Wednesday that fiscal fourth-quarter net income fell by 40 percent and announced it would cut 1,300 to 1,500 jobs to save money as it grapples with a business downturn.
Outlook roundup: Advanced Micro Devices, Lear (AP)
Among the earnings projection stories for Wednesday, Nov. 11, from AP Financial News: SUNNYVALE, Calif. -- Advanced Micro Devices Inc. said its gross profit margin should improve next year as chip sales pick up.
Earnings roundup: Applied Materials, Macys (AP)
Applied Materials Inc. said that fiscal fourth-quarter net income fell by 40 percent and announced it would cut 1,300 to 1,500 jobs to save money as it grapples with a business downturn.
HP to buy 3Com for $2.7 billion (Reuters)
Hewlett-Packard Co struck a deal to buy network equipment maker 3Com Corp for $2.7 billion to step up competition against Cisco Systems Inc and expand into China.
Setback in Bear Stearns case may force govt shift (AP)
The swift acquittal of two Bear Stearns executives in the governments criminal case tied to the financial meltdown likely will force prosecutors to rethink the evidence they planned to present in a raft of cases that have yet to go to trial, legal experts say.
Stocks rise as traders bet on low rates, China (AP)
More signs that interest rates will remain low and upbeat economic news from China gave investors new reason to keep buying stocks Wednesday.
Sector Snap: Airline stocks rise (AP)
Airline stocks rose strongly on Wednesday, swept higher by a rally in the broader markets in light trading on the Veterans Day holiday.
Market gains on homebuilder forecast, China data (Reuters)
The Dow and the Standard Poors 500 index closed at 13-month highs on Wednesday as an upbeat forecast from a top homebuilder and data from China pointed to a strengthening global economy.
Business Highlights (AP)
American International Group Inc.s CEO Robert Benmosche said Wednesday he plans to stay in his job at the embattled insurer.