Main market news here.

Apple Inc.'s (NASDAQ:AAPL) iPhone gross margins are estimated at over 50%, giving the company plenty of room to eventually reduce the retail price, according to iSuppli Corp.

Shares of Web retailers fell yesterday on the Nasdaq: Amazon.com Inc. (NASDAQ:AMZN) shares lost 3%, eBay Inc. (NASDAQ:EBAY) 1.5%. Prudential analyst Mark Rowen says results from other retailers point to an unimpressive fourth quarter for Amazon.com. Noble Corp.'s (NYSE:NE) Barnes & Noble Inc. and Borders Group Inc. sales during the holiday season were also lacking.

In an interesting move, major corporations are joining environmental groups to press Bush and Congress to address climate change more rapidly. The group includes: Alcoa Inc. (NYSE:AA), General Electric Co. (NYSE:GE), DuPont Co. (NYSE:DD), Caterpillar Inc. (NYSE:CAT), PG&E (NYSE:PCG), BP (NYSE:BP), Lehman Brothers (NYSE:LEH) and Duke Energy Corp. (NYSE:DUK).

Toyota Motor Corp. (NYSE:TM) is recalling 533,000 Tundra pickup trucks and Sequoia sport utility vehicles because of potential steering problems.

McDonald's Corp. (NYSE:MCD) opened its first drive-thru in Beijing on Friday (16th in China).

A House of Representatives vote to roll back tax breaks and other incentives for oil drilling could choke about $14 billion in subsidies from the "Big Five" integrated oil companies: BP PLC (NYSE:BP), Exxon Mobil Corp. (NYSE:XOM), Chevron Corp. (NYSE:CVX), ConocoPhillips (NYSE:COP), and Royal Dutch Shell.

Wal-Mart Stores Inc. (NYSE:WMT) is opening an energy-efficient stores that use 20% less energy than other Wal-Mart Supercenters.

After dropping more than 6.7% yesterday, Red Hat Inc. (NYSE:RHT) was upgraded by CIBC World Markets from Sector perform to Sector Outperform.

Altria Co. (NYSE:MO) was downgraded by Deutsche Securitites from Buy to Hold.