IN BRIEF

Oil futures rise again on forecast, concerns

Oil futures blasted to a record near $123 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages.

A new Goldman Sachs prediction that oil prices could rise to $150 to $200 within two years seemed to motivate much of Tuesday's buying, although a falling dollar and increasing concerns about declining crude production in Mexico and Russia contributed, analysts say.

Light, sweet crude for June delivery jumped to a record of $122.73 a barrel before retreating to settle up $1.87 at a record $121.84 on the New York Mercantile Exchange.

LOS ANGELES

Weak economy factors in higher Disney profit

The Walt Disney Co. said Tuesday that a weak U.S. dollar kept domestic vacationers closer to home, boosting theme park revenue while growth in the company's film studios and media networks also helped push second-quarter net profit 22 percent higher.

Disney said it earned $1.13 billion, or 58 cents per share, in the quarter ended March 29, up from $931 million, or 44 cents per share, a year earlier.

Revenue rose 10 percent to $8.71 billion.

Analysts polled by Thomson Financial expected earnings of 51 cents per share on $8.47 billion in revenue.

Disney shares rose 44 cents, or 1.32 percent, Tuesday to close at $33.73 on the New York Stock Exchange.

DETROIT

Chrysler caps price of gasoline for buyers

With sales down 23 percent in April and nearly 18 percent for the first four months of the year, Chrysler late Monday announced an offer that caps the price of gasoline at $2.99 a gallon for three years for people who buy or lease new vehicles from today through June 2.

The offer covers most models and is based on 12,000 miles of driving per year and the vehicle's government fuel economy rating. Customers will get a card for buying gas that is linked to their own charge account, Chrysler said. The customer will be billed $2.99 a gallon, and Chrysler will pay the rest.

Las Vegas again tops convention city list

For the 14th consecutive year, Las Vegas was the top convention city in North America, according to the publication Tradeshow Week.

Las Vegas hosted 44 of Tradeshow Week's 200 top shows, followed by Orlando with 24, Chicago with 20, New York with 16 and Atlanta with 12.

The city was host to 11 of the top 20 shows and seven of the top 10.

The list was based on 2007 and published in a recent special edition of Tradeshow Week.

SAN JOSE, Calif.

Cisco Systems' profits fall 5 percent in quarter

Cisco Systems' profits fell 5 percent in its fiscal third quarter but beat Wall Street's expectations, a sign the turbulent U.S. economy didn't rattle the world's largest networking equipment maker as hard as expected.

The San Jose-based company reported Tuesday it earned $1.77 billion, or 29 cents per share, during the three months ended April 26, down 5.4 percent from the $1.87 billion, or 30 cents per share, a year earlier.

Stripping out 9 cents per share in one-time charges for acquisition and employee stock-based compensation, Cisco earned 38 cents per share. That's 2 cents per share above the average estimate on the same basis from analysts polled by Thomson Financial.

Sales rose 10.4 percent, to $9.79 billion from $8.87 billion.

NEW YORK

Treasury bond prices fall as stocks head up

Treasury bond prices reversed course Tuesday, with investors pulling money out of government bonds to participate in a moderate rally in stocks.

The benchmark 10-year Treasury fell 0.25 points to 96.78 and yielded 3.90 percent, up from 3.87 percent late Monday, according to BGCantor Market Data. Prices and yields move in opposite directions.

The 30-year long bond fell 0.56 points to 95.69 and yielded 4.64 percent, up from 4.60 percent late Monday.