Hedge funds still keen on big banks
Yet the hedge-fund managers, including billionaire investor John Paulson, scaled back positions in Bank of America Corp BNK.N as it was roiled by intense scrutiny over its acquisition a year earlier of Merrill Lynch. Read Full Article here.
Yum's sales view misses, shares off
The Louisville, Kentucky-based company on Friday repeated its 2009 and 2010 earnings growth forecasts, but warned that a difficult consumer environment would make it hard to increase sales at its outlets that have been open for a least a year. Read Full Article here.
BP deals with 2nd Alaskan pipeline spill in a week
British oil giant BP has begun cleaning up a second pipeline leak at its Prudhoe Bay operations in Alaska this week, after fluid spilled from a flow line on Wednesday. Read Full Article here.
Oracle says NY Post report on Sun is false
Oracle Corp denied a newspaper report that Chief Executive Larry Ellison is backing down in a dispute with the European Union over the terms of the software company's $7 billion acquisition of Sun Microsystems Inc. Read Full Article here.
Airline shares jump on U.S. employment report
Shares of United Airlines parent UAL Corp were up 8.79 percent at $10.03 in early trade on Nasdaq. Shares of AMR Corp, parent of American Airlines, were up 5.82 percent at $7.27 on the New York Stock Exchange. The Arca airline index was up 4.47 percent. Read Full Article here.
Cisco learns lesson as it finally snares Tandberg
Cisco Systems Inc's veteran dealmakers may have learnt some new lessons from their drawn-out pursuit of Norway's Tandberg ASA, the video conferencing leader. Read Full Article here.
GM Chairman Whitacre shakes up senior management
General Motors Co Chairman and Chief Executive Ed Whitacre announced a broad shake-up of the automaker's senior leadership on Friday, tightening his grip on the company three days after replacing its CEO. Read Full Article here.
Galleon's Rajaratnam was suspected a decade ago
Federal investigators suspected a decade ago that Galleon Group hedge fund founder Raj Rajaratnam was trading on inside information but were unable to prove he was breaking the law. Read Full Article here.