Short Reports

Crude oil prices rose to a 3-1/2-month high Tuesday on the New York Mercantile Exchange on expectations that OPEC ministers won’t significantly increase production limits at today’s meeting in Vienna, Austria. Crude for July delivery rose $1.36 to close at $33.05 a barrel.

Development of the infrastructure to foster its e-commerce initiative and the write-off of some capital projects was blamed for the third-quarter red ink Micron Electronics Inc. reported on Tuesday. The Idaho-based computer maker reported a $1.9 million loss, or two cents per share of common stock, on $369.5 million in sales for the three months ending June 1, compared with net earnings of $7 million, or seven cents a share, on $327.7 million in revenue during the same quarter a year ago.

The Kroger Co.’s earnings before onetime charges climbed 20 percent in its first quarter. The nation’s largest grocery chain said it earned $276.5 million, or 33 cents per share, before charges in the quarter that ended May 20, compared with $231 million, or 27 cents a share, a year ago. Fred Meyer is one of Kroger’s companies.

Levi Strauss & Co. reported profit for its fiscal second quarter ended May 28 totaled $45 million, a 48 percent increase from the comparable 1999 period.

A federal safety agency is investigating more than 760,000 sport utility vehicles made by General Motors Corp. after complaints that the battery leaks acid, which can cause of loss of power and increase the risk of a crash. GM reports 25,122 warranty claims related to the problem on the Chevrolet Suburban and Tahoe and the GMC Yukon.