Short Reports

Tue., March 30, 1999

From Staff

Rite Aid’s fourth-quarter earnings dropped 39 percent after a store-opening spree cut into profits, the company said. Rite Aid shares closed at $25.68-3/4 Monday, down a quarter from the previous session but well off its January high of $51.12-1/2 in January.

After weeks of rumors, Microsoft Corp. confirmed plans to reorganize its business. The software giant will create six new divisions. The company says the change is in no way related to its ongoing antitrust trial. Also, the move is not a prelude to a breakup of the company, Microsoft said.

Lockheed Martin Astronautics will cut 1,200 jobs by the end of the year, including 30 percent of its management positions, the company announced.

Heinz USA is recalling certain six-ounce jars of Heinz 3 broccoli, carrots and cheese baby food because it may contain pieces of plastic. Only those jars with the production code of P3388EA printed on the jar lids are affected, the company said.

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Short Reports

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

UAE and Saudi Arabia report drone incidents as Iran war deadlock drags on

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