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Today's Business Headlines - Market Close from MSNBC.com
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Market Closing Prices
DJIA: 10163.16 -45.64
NASDAQ: 1912.71 -2.17
S&P 500: 1106.69 -4.78
AMEX: 1250.50 -6.37
Wall Street Watch: Complete coverage
http://www.msnbc.msn.com/id/3032221/
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Business
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IBM quarterly profit rises, tops forecasts
IBM on Thursday posted a higher quarterly profit that beat analysts' expectations as
businesses bought more computers, technology services and software.
http://www.msnbc.msn.com/id/5445286/
Former Tyco top lawyer found not guilty
Tyco International Ltd.'s former general counsel, Mark Belnick, on Thursday was found
not guilty of securities fraud and grand larceny in connection with his role as the
top attorney at the conglomerate.
http://www.msnbc.msn.com/id/5444957/
Stewart to be sentenced Friday
Martha Stewart will be sentenced Friday and learn whether she will have to trade the
tastefully tinted walls of her home for the spare cinderblocks of a prison cell.
http://www.msnbc.msn.com/id/5444565/
Wall Street ends a seesaw session lower
Blue-chip stocks closed Thursday's seesaw session lower, as a surprise drop in
wholesale prices and another round of upbeat profit reports weren't enough to assuage
investor unease over terrorism and future earnings.
http://www.msnbc.msn.com/id/3683270/
Harrah's to buy Caesars for $5.2 billion
Harrah's Entertainment Inc. Thursday said it would buy rival Caesars Entertainment
Inc. for about $5.2 billion in cash and stock in a deal to create the world's largest
casino operator.
http://www.msnbc.msn.com/id/5435701/
Mortgage rates fall for fourth straight week
Rates on 30-year and 15-year mortgages dropped for the fourth week in a row, welcome
news for people wanting to buy a home.
http://www.msnbc.msn.com/id/5445231/
OPEC agrees to increase oil output
With the price of oil stuck above $40 a barrel, OPEC agreed Thursday to raise its
daily production target by 500,000 barrels, or 2 percent, in an effort to keep crude
prices from lurching even higher.
http://www.msnbc.msn.com/id/5443665/
UFJ, Mitsubishi Tokyo set to ink mega-merger
UFJ Holdings Inc., one of Japan's "Big Four" banking groups, decided on Wednesday to
ask Mitsubishi Tokyo Financial Group Inc. to start merger talks - a move that could
create the world's biggest bank.
http://www.msnbc.msn.com/id/5435702/
Legal settlement cuts into Citigroup profit
Citigroup Inc. earned $1.14 billion in the second quarter, 73 percent lower than a
year ago because of a mammoth class-action settlement with WorldCom investors that
took a heavy toll on the big bank's profits.
http://www.msnbc.msn.com/id/5442554/
Southwest Air's CEO leaves post
Southwest CEO James Parker stepped down Thursday, saying he was retiring for personal
reasons. The company said he would immediately be replaced by finance chief Gary
Kelly, who had previously been tapped as Parker's eventual successor.
http://www.msnbc.msn.com/id/5442592/
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