IBT Staff Reporter

U.S. stocks rose on Thursday for a third consecutive day after oil dropped, easing inflation concerns, while the government reported that the economy grew last quarter at a faster pace than previously predicted.

Dell Inc, the world's second largest personal computer maker, said its profit and sales grew in its first quarter citing stronger consumer demand and lower operating costs and beat Wall Street's expectations.

After six weeks of voting, Delta Air Lines flight attendants failed to gather enough votes to join the Association of Flight Attendants, or AFA, a national labor union.

Nokia's leading share of the global mobile phone market slipped nearly 4 percent in the first quarter while Motorola's share fell by more than 8 percent as rivals Samsung and LG advanced, according to new research.

Gold futures tumbled as much as $28 an ounce on Thursday, the most in nearly six weeks after the dollar continued to climb, lowering the appeal of the precious metal as an alternative investment while oil prices dropped.

Natural gas spot price movements were mixed this report week (Wednesday–Wednesday, May 21-28), with price decreases generally occurring in markets west of the Mississippi River and price increases

Sears Holding Corp. reported a surprise loss in its second quarter on Thursday, saying it lost $56 million in the first quarter and fell far short of Wall Street forecasts.

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Software giant Microsoft Corp is discussing ideas for partnerships with Internet portal Yahoo but it is not interested in an acquisition, Yahoo's chief executive said.

Costco Wholesale Corp., the largest U.S. warehouse club operator, said Thursday its third-quarter profit climbed 32 percent to beat expectations, as discounts on gasoline and food lured shoppers to its stores.

Bear Stearn's Cos. shareholders on Thursday gave their approval to sell the investment bank to rival JPMorgan Chase & Co. for about $2.2 billion.

BSS Group Plc said on Wednesday that its pre-tax profit for the year ended 31 March 2008 had risen 23.3 per cent to £58.3 million, with revenue up 27.4 per cent to £1,289.0 million.

Burberry Plc said on Wednesday that its profits had risen 14 per cent to £206.2 million in the full year to 31 March 2008. The fashion retailer also said that total revenue had risen 18 per cent to £995 million.

On Wednesday the Italian firm Generali said that it would not be bidding for the insurance arm of Royal Bank of Scotland. The news came just a few hours before the first bid deadline for the asset.

Hong Kong domestic bank Wing Lung fell in trading today as investors question its long term prospects.

Bank of America Corp. plans to raise its stake in China Construction Bank Corp. by exercising part of an option, to boost its stake to 10.75 percent from 8.5 percent, the Chinese bank said on Wednesday.

Tokyo stocks dropped Wednesday, sending the key Nikkei benchmark over 180 points lower, as trading houses and resource-related shares were hit hard by a sharp overnight drop in New York crude oil futures.

GOME Electrical Appliances Holding Ltd, China's largest electronics retailer by revenue, posted net profit in first quarter nearly three times higher than the year earlier thanks to stronger margins and sales in new stores.

Merck & Co. reported a Phase III trial which studies odanacatib for the treatment of osteoporosis in postmenopausal woman is underway which will include tests for breast and prostate cancer.

Digital video recorder company Tivo reported better than expected earnings for its first quarter on Wednesday on its mass distribution strategy and management of subscription acquisition costs.

The Medicines Company said on a press release on Wednesday that it received a not approvable letter from U.S. regulators on a supplemental New Drug Application for an additional dosing regimen for Angiomax in the treatment of acute coronary syndromes.

Amazon.com Inc, the largest Internet retailer, will expand its digital music and video with a streaming video service in the next few weeks, Chief Executive Jeff Bezos said Wednesday.

United Airlines' merger talks with US Airways have faltered and a deal is not expected anytime soon, say people close to the carriers, pushing the Chicago-based carrier to turn its focus to other strategic alternatives.

Crude oil prices rallied on Wednesday, recovering earlier losses and reacting to a new forecast by Morgan Stanley projecting Brent Crude prices will hit as much as $150 a barrel.

Microsoft will include touch screen controls for the next generation of the Windows operating system.

Gold futures fell for the second day on Wednesday in New York as the dollar strengthened, lowering the appeal of the precious metal as an alternative investment.

Exxon Mobil chairman and CEO Rex Tillerson will hold to both of his titles after shareholders rejected a plan backed by some members of the Rockefeller family to split the chairman and chief executive roles.

U.S. stocks fell on Wednesday as concerns increased that regional banks face more write downs after more bad news in the financial sector did little to ease concerns over the state of the slowing economy, while oil futures headed back toward $130 a barrel.

Dow Chemical Co., the top chemical maker in the United States, reported on Wednesday it will raise the price of all its products by 20 percent citing high energy, raw materials and transportation costs.