IN BRIEF
HOUSTON
Exxon Mobil profits up 17 percent in quarter
Exxon Mobil Corp., the world's largest publicly traded oil company, said Thursday that record crude prices helped its first-quarter profit climb 17 percent to $10.9 billion -- the second-biggest U.S. quarterly corporate profit ever.
But the results still fell short of Wall Street's lofty forecasts, and Exxon Mobil shares fell almost 4 percent.
Exxon Mobil, based in Irving, Texas, said earnings for the first three months of the year came to $2.03 per share, up from $9.3 billion, or $1.62 per share, a year ago.
Analysts polled by Thomson Financial were looking for $2.13 per share.
But at $10.9 billion, the profit still ranks as the second-biggest for a U.S. company -- the only larger result in a three-month period was the $11.7 billion Exxon Mobil posted in the final three months of 2007.
Revenue rose 33.9 percent to $116.8 billion from $87.2 billion.
SAN JOSE, Calif.
ITunes to sell films on day of DVD release
Apple said Thursday that new movies from a slate of major studios will now be available for purchase over iTunes the same day they're released on digital video disc.
The change will grow the number of new titles available in the iTunes online store and help the service compete better against DVD retailers.
Until this week, many of the movies available for purchase over iTunes were older releases.
ATLANTA
Home Depot to close 15 flagship stores
It's been four years since former Home Depot Chief Executive Bob Nardelli's bold prediction that the home improvement retailer could sustain "unlimited growth" without significantly affecting sales at established stores.
That statement was made during much better economic times.
The Atlanta-based company, under different leadership, a different growth philosophy and amid an ailing housing market, put the brakes Thursday on some of its future expansion plans and said it would close 15 of its underperforming flagship stores.
It is the first time the home improvement store chain has ever closed a flagship store for performance reasons. The move, to be completed within the next two months, will affect 1,300 employees.
None of the stores is in Nevada.
DETROIT
American Axle workers, union close to deal
Striking workers at American Axle and Manufacturing Holdings said Thursday they have been told the union and the auto parts supplier are close to a deal that could end a two-month strike.
Worker Ken Krzycki said a local union official told picketers some details of the possible settlement on Wednesday.
It includes negotiating the closure of American Axle's Detroit and Tonawanda, N.Y., forge operations. The possible settlement also includes wage cuts for production workers to $17 an hour from about $28.
Local 235 President Adrian King confirmed the numbers and said the union is evaluating the proposal.
American Axle spokeswoman Renee Rogers said talks were moving forward but she would not comment on specifics.
LOS ANGELES
Port workers return after daylong protest
Port workers returned to work for night shifts Thursday after staging daylong anti-war protests that halted West Coast cargo traffic, terminal operators said.
Pacific Maritime Association spokesman Steve Getzug said longshore workers were lining up for evening shift assignments at dispatch halls at the ports of Los Angeles and Long Beach.
Thousands of dockworkers did not show up for the morning shift, leaving ships and truck drivers idle at ports from Long Beach to Seattle.
Las Vegas Sands shares sink after report of loss
Las Vegas Sands Corp., the world's largest casino company by market value, fell the most in two weeks in New York trading after posting an unexpected first-quarter loss.
Las Vegas Sands shares fell $4.29, or 5.63 percent, to close at $71.93 on the New York Stock Exchange, the biggest decline since October.
The casino company, majority-owned by billionaire Chief Executive Officer Sheldon Adelson, is building a $12 billion, 20,000-room complex of hotels and casinos in Macau, the only region in China where gambling is legal. Revenue trailed analysts' estimates as competition in Macau intensified while U.S. gamblers struggled with higher fuel and food costs.
SAN JOSE, CALIF.
Sun Microsystems' loss shocks investors
Sun Microsystems swung to a loss in the fiscal third quarter, stunning investors who were expecting a healthy profit from the server and software maker despite a weakening U.S. economy.
The Santa Clara, Calif.-based company also forecast flat revenues for the fourth quarter and revealed plans to jettison between 1,500 and 2,500 jobs.
Sun's shares plunged 15 percent in after-hours trading.
The company said after the market closed Thursday that it lost $34 million, or 4 cents per share, in the three months ended March 30, reversing a profit of $67 million, or 7 cents per share, a year earlier.
The results for the latest quarter include costs of 4 cents per share from Sun's $1 billion acquisition of open-source software company MySQL AB.
Sun also took at $52 million tax hit in the third quarter, which dragged down results.
Analysts polled by Thomson Financial expected Sun to earn 18 cents per share.
Sun Microsystems shares rose 67 cents, or 4.28 percent, Thursday to close at $16.33 on the Nasdaq National Market.
HONOLULU
Deal struck for defunct airline's cargo division
The parent company of Hawaii's biggest interisland ocean shipper announced Thursday it had worked out a deal to buy Aloha Airlines' cargo operation, which shut down Monday.
Seattle-based Saltchuk Resources said it had obtained the consent of Aloha's main lender, GMAC Commercial Finance.
The purchase price wasn't disclosed.
NEW YORK
Treasury prices decline as stocks head higher
Investors moved out of Treasury bonds on Thursday as a rally in stocks sent the Dow Jones higher.
The benchmark 10-year Treasury note fell 0.16 points to 97.93 and yielded 3.75 percent, up from 3.74 percent late Wednesday. Prices and yields move in opposite directions.
The 30-year long bond fell 0.22 points to 98.16 and yielded 4.49 percent, up from 4.47 percent late Wednesday.
