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.
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.
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.
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.
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.
Venezuela: Economy recovering after contraction (AP)
Finance Minister Ali Rodriguez said Wednesday that Venezuelas economy is beginning to recover after its first contraction in five years and predicted annual growth will reach 4 percent by 2012.