U.S. stocks rebound after Tuesday's steep decline

Date: Wed, 06 Feb 2008 17:01:13 (GMT)

U.S. stocks rebound after Tuesday's steep decline

U.S. stocks are trading slightly higher, bouncing back from the
market's largest plunge in nearly a year, after the government says
productivity grew more than expected and Walt Disney Co.'s earnings
surpass estimates.

Yahoo CEO says no decision yet on Microsoft bid

SAN FRANCISCO
Yahoo Inc.'s board has yet to decide on Microsoft Corp.'s $44.6 billion
bid, but the directors are "evaluating a wide range of potential
strategic alternatives in what is a complex and evolving landscape," CEO
Jerry Yang told employees Wednesday.

Super Tuesday's outcome leaves questions unanswered.

Disney profit drops on year-ago gain, but tops estimates

Walt Disney Co.'s first-quarter profit falls 27% compared with a year
ago, which includes a gain from sales of its interests in E!
Entertainment and Us Weekly, but its latest results easily surpass most
analysts' expectations.

Time Warner's fourth-quarter net profit drops 41%

Time Warner's fourth-quarter net income fell 41% in the face of the
media and entertainment giant generating modestly higher revenue,
financial results showed Wednesday. The results marked the first for
Time Warner since Jeff Bewkes took over from Dick Parsons as CEO.
Fourth-quarter net income was $1.03 billion, or 28 cents a share, down
from $1.75 billion, or 44 cents, earned in the final three months of
2006. Both adjusted profit and revenue were on the mark or nearly so for
the latest quarter, according to the consensus of estimates compiled by
Thomson Financial.