Baidu.com (NASDAQ: BIDU) shares are down 1.25% in premarket trading after news its CFO Shawn Wang died in an accident.After facing disappointing sales, Macy's Inc. (NYSE: M) has said Friday it will close nine stores that employ a total of about 900 people.
The top three movies this holiday season have continued their box office success this past weekend as well with Disney's (NYSE: DIS) National Treasure: Book of Secrets keeping its No. 1 spot for a second weekend with $35.6 million. Alvin and the Chipmunks from New Corp.'s (NYSE: NWS) 20th Century Fox was second with $30 million and I Am Legend from Time Warner's (NYSE: TWX) Warner Bros., as close third with $27.5 million, according to studio estimates Sunday.
International Business Machines Corp (NYSE: IBM) is in advanced talks to buy Israeli start-up XIV Information Systems for $300 million to $350 million, according to Israel's financial daily Globes reported on Monday.
The Semiconductor Industry Association said Monday that while global chip sales rose 2.3% in November to $23.1 billion, it will take an outstanding December to meet 2007 forecasts. And while demand may have been robust, the industry also experienced pricing pressure. Still, sales of microprocessors (INTC, AMD) jumped 7.4% year-over year, fueled by strong demand for personal computers.
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