Short Reports
Federal Express earnings rose 16 percent in the fourth quarter. The results beat Wall Street expectations. Its shares rose 3 percent, or $1.13, to close at $38.13 a share on the New York Stock Exchange.
Intel Corp. introduced on Wednesday its new high-end Pentium 4 computer chip, formerly code-named Willamette, running at an advertised “clock speed” of 1.5 gigahertz, or 1.5 billion bits of information per second. The Pentium 4 goes on sale this fall. Intel’s fastest chip until now has been a Pentium III that processes information at 850 megahertz, slightly more than half as fast as the new Pentium 4.
Gannett Co., publisher of USA Today and the nation’s largest newspaper group, is acquiring Central Newspapers Inc., owner of The Arizona Republic, The Indianapolis Star and four other daily newspapers, for $2.6 billion.
Correction: High-speed DSL (digital subscriber line) connections provided by Jato Communications will range from $130 to about $450 per month. An item in Wednesday’s Spokesman-Review gave incorrect monthly costs.