Short Reports

Wed., March 22, 2000

From Staff

Northwest Airlines lost most of its communications lines systemwide for about 2-1/2 hours Tuesday when an independent contractor hit a fiber-optic cable, leading to cancellations and delays around the country. Passengers aboard planes were not in danger, but Northwest temporarily suspended boarding additional flights until the problem was fixed.

Micron Technology Inc. reported second-quarter profits more than seven times the level from the year before, but fell short of Wall Street expectations due to falling prices for its memory chips. The Boise-based company reported net income Tuesday of $161 million, or 58 cents a share, for the quarter ended March 2. That compares with $22 million, or 8 cents a share, in the same quarter a year ago. Analysts had pegged second-quarter results at 74 cents a share.

Several investment banks and energy firms have disclosed plans to launch an online market for over-the-counter metals and energy products. The Intercontinental Exchange is targeting a midsummer debut for commercial market participants.

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Short Reports

Jesse Tinsley

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