Business Briefs
March 31Stocks got a boost on Thursday after Juniper Networks Inc., a networking equipment manufacturer, posted an increase in first quarter earnings due to a rise in revenues. Shares of Juniper rose $2.90 to $45.66 during yesterday's trading session for a gain of nearly seven- percent. Still, stocks opened lower on news that US retail sales fell 0.2 percent in March, to a seasonally adjusted $274.09 billion. "March was not a good month for retailers and the weakness was broad-based," said Michael Niemira, senior economist with Bank of Tokyo-Mitsubishi in New York. "The numbers are showing some wear and tear on the consumer." The Nasdaq Composite Index was up 41.75 points, or 2.20 percent, at 1,940.70 during yesterday's trading session, after falling more than one percent earlier in the day. The blue-chip Dow Jones industrial average was up 59.34 points, or 0.59 percent, at 10,072.81. The broader Standard & Poor's 500 Index was up 11.94 points, or 1.02 percent, at 1,177.83."There has been, at least temporarily, a shift in psychology," James Volk, co-director, institutional trading at D.A. Davidson & Co, said. "This action in the last couple of days is building a base under the perception, real or imagined, that things are going to get better sooner rather than later." Internet media giant Yahoo! reported its first quarterly loss in almost two years on Wednesday and announced it would cut 12 percent of its workforce. Yahoo! plans to expand its profitable adult and erotica online stores to counteract declining advertising revenues. "While we streamlined our business over the second quarter to become more efficient and align our costs with the current market environment," Chairman and CEO Tim Koogle said in a press release, "we remain steadily focused on developing and delivering the essential services that will result in Yahoo! becoming the Internet's leading global consumer and business services company." Shares of Yahoo (YHOO) climbed to $16.25 in after-hours trading, from $15.86 at the close of the regular trading session on Wednesday.The Nasdaq Composite Index rallied 46.92 points, or 2.53 percent, to 1,898.95. The blue-chip Dow Jones industrial average fell 89.27 points, or 0.88 percent, to 10,013.47. The broader Standard & Poor's 500 Index slipped 2.49 points, or 0.21 percent, to 1,165.89.ShittyGift.com is for saleShittyGift.com, the first website to ridicule "crappy" gifts and the people who buy them, is now for sale on eBay. Established in December 2000, ShittyGift.com had over 74,000 visitors in its first month in operation. Lucy Sherriff of TheRegister.co.uk said that, "If this takes off, no one will ever have to suffer the indignity of another pair of unwanted 'novelty' socks or Celine Dion CD from Auntie Doris at Christmas."No one has placed the opening $99,000 bid, but the auction does not end until April 20.The website has been featured in over 50 radio interviews as well as CNN, Salon, CNBC, CNET, Newsbytes, TheRegister, Wired, Media Life, and various local newspapers. Pierre Omidyar, founder and chairman of eBay Inc., graduated from Tufts in 1988. He now serves as a member of the Tufts University Board of Trustees.GE's first quarter profits rise on record revenue growth General Electric Co. reported a 16 percent rise in first quarter profits. Revenues rose from $29.996 billion a year ago to a record $30.49 billion in the quarter. "The record results for the first quarter once again demonstrate the ability of GE's diverse mix of leading global businesses to deliver earnings growth, increased margins, and strong cash generation despite a challenging economic climate," said John Welch, GE's chairman and chief executive. The company's record revenue growth was carried by its power systems and aircraft segments, which offset slower broadcasting and appliance results. These suffered from a weakening economy. GE's results met Wall Street estimates, as analysts, on average, anticipated earnings of 30 cents per share for the period, according to tracking firm Thomson Financial/First Call. Shares of General Electric (GE), a component of the Dow Jones industrial average, rose 59 cents, or 1.36 percent, to $43.86 in early trade yesterday. "I think [the market] will react well, especially in a period of high uncertainty for a lot of companies and earnings," analyst Edward Jones William Fiala said. "There still is a rather high degree of confidence in GE's ability to deliver strong double-digit earnings growth for the next few quarters."

