CombiMatrix Corp. of Mukilteo said Wednesday that it has developed new DNA analysis chips known as microarrays that can quickly identify the deadly H5N1 bird flu strain and other types of influenza. The chip is designed to work with samples from humans as well as from birds, pigs, horses, dogs and other animals, the biotech firm said. On heels of the news, CombiMatrix’s stock rose 62 percent, or 86 cents, to $2.24 a share.
Competition hits Busch earnings
Anheuser-Busch Cos. Inc. said Wednesday its third-quarter profit fell 24 percent due to cost pressures, competition from other alcoholic drinks such as wines and spirits, and a charge for a legal settlement. The nation’s biggest brewer earned $518 million, or 66 cents a share, for the period ending Sept. 30. Shares of Anheuser-Busch fell 95 cents, or 2.3 percent, to close at $40.80 on the New York Stock Exchange, its lowest point in nearly four years.
DaimlerChrysler on the rebound
DaimlerChrysler AG is on track to match sales from a year ago, the automaker said Wednesday after it posted a $910 million third-quarter profit and reported that its Mercedes car group showed signs of a turnaround. The German-American automaker also revealed in a filing with the U.S. Securities and Exchange Commission that the SEC subpoenaed information in September about the way the company calculates pension benefits for North American employees.
More oversight for home lenders
The House of Representatives on Wednesday approved tighter oversight of the two largest buyers of home mortgages, as majority Republicans also barred groups that run voter registration drives from getting money from a housing fund that the companies would create. The legislation would rein in Fannie Mae and Freddie Mac, the government-sponsored companies that combine to finance or guarantee more than 75 percent of U.S. home mortgages.
Ford gets OK to sell off Hertz
U.S. antitrust regulators have approved Ford Motor Co.’s plan to sell Hertz Corp., its rental car subsidiary. In a notice posted Wednesday, the Federal Trade Commission said it completed its review of the deal and would take no action. Dearborn-based Ford, which has owned Hertz since 1994, said it wants to concentrate on its core automotive business. The deal is expected to be completed by the end of this year. Ford shares fell 11 cents to close at $8.52 Wednesday on the New York Stock Exchange.
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