The jockeying to bring the most popular names from TV and the Web to cell phones produced another exclusive deal Thursday with Verizon Wireless nabbing a multiyear agreement to offer ESPN’s flashy feed of sports scores, newscasts and video highlights on the tiny screen. The plan to revive Mobile ESPN – initially born as a full-blown cell phone company competing with big players such as Verizon before ESPN pulled the plug late last year.
Gift card shoppers help many retailers
The nation’s retailers rebounded in January from their disappointing holiday season as shoppers redeemed gift cards to help clear out winter and spring merchandise. As retailers reported their sales Thursday, winners included Limited Brands Inc., Nordstrom Inc., and Federated Department Stores Inc. Wal-Mart Stores Inc. beat Wall Street estimates, though its monthly gain was modest. Among the losers were Costco Wholesale Corp., AnnTaylor Stores Corp. and Chico’s FAS Inc.
Investors reject Eddie Bauer buyout
Shareholders of Redmond’s financially troubled clothing retailer Eddie Bauer rejected a $286 million buyout offer from a pair of investment firms Thursday. “The company will continue to operate as a standalone, publicly traded company,” said Wendi Kopsick, a spokeswoman for Eddie Bauer Holdings Inc. A holding company owned by affiliates of Sun Capital Partners Inc. of Boca Raton, Fla., and San Francisco-based Golden Gate Capital planned to pay $286 million in cash, or $9.25 per share, and assume $328 million in debt.
Intermec postpones release of results
Intermec Inc. postponed Thursday’s release of its fourth quarter financial results, saying it needs more time to complete tax accounting. The Everett-based maker of barcode scanners and inventory-tracking technology said the delay stems from the analysis and application of new accounting guidance. Intermec’s shares lost 36 cents to close at $25.06 on Thursday.
Windows Mobile 6 out this spring
Microsoft Corp. plans a launch this spring of its next-generation operating system for wireless devices, Windows Mobile 6, which is important for the company’s efforts to grab market share beyond the desktop. Microsoft is expected to disclose details of Windows Mobile 6 on Monday at a telecommunications conference in Barcelona, Spain. The company pledged that the new software would render e-mails and other documents much as they appear on desktop computers.
National job market still solid
The number of newly laid off workers filing for unemployment benefits edged up slightly last week but was at a level that signaled a solid labor market. The Labor Department reported Thursday that 311,000 newly jobless workers applied for benefits last week, 3,000 more than the previous week. That was in line with expectations as economists believe the labor market is holding up well.
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