Short Reports

Thu., April 8, 1999

From Staff

Yahoo! Inc., the second-most popular Internet destination, reported a sharply higher first-quarter profit of $16 million Wednesday that beat Wall Street forecasts, helped by a surge of Web visitors and new deals with online businesses.

Republic Industries, the nation’s largest car retailer, changed its name to AutoNation Inc. Tuesday, signaling the company’s focus on selling and renting cars and trucks.

AMR Corp., parent company to American Airlines, resumed mediated talks with the carrier’s pilots union on Wednesday to work on resolving a dispute over the acquisition of Reno Air.

At Home Corp. announced it will form a joint venture to offer its high-speed Internet service to 5 million cable television customers in Japan.

Sears, Roebuck & Co. has agreed to pay $985,000 and extend free replacement warranties on some of its car batteries to settle allegations it passed off used batteries in Florida as new.

The average price of unleaded gas in the Spokane area was misstated in a Spokesman-Review story Wednesday. The Inland Automobile Association last week reported self-serve unleaded gas to be $1.13 per gallon. The figure in Wednesday’s paper reflected the average price of full-service unleaded gas.

After two weeks of rumors that sent Revlon shares soaring, billionaire Ronald O. Perelman put the cosmetic company’s future up in the air Wednesday, announcing plans to sell one or more of its struggling businesses. Revlon, which makes Revlon and Almay makeup, Flex shampoo and Charlie perfume, has seen its shares surge 70 percent in the past two weeks amid rumors the company was a takeover target.

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Short Reports

Jesse Tinsley

Jim Meehan

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Rob Curley

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