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August 09, 2010 01:09 PM

Afternoon Business Brief

  • Stock prices have edged higher today. With no economic reports out today, there's not a lot to drive the broader market at the moment.
  • Hewlett-Packard shares have lost nearly 7 percent of their value today. Investors are getting a chance to react to word of CEO Mark Hurd's sudden forced resignation Friday from the world's largest technology company. He stepped down after allegations that he falsified expense reports to conceal a relationship with a former contractor.
  • Hot weather translated to cold cash for fast food giant McDonald's. It saw a jump in U.S. sales with the launch of new fruit smoothies and ice-cold frappes.
  • A year after emerging from bankruptcy protection, Chrysler says growing car and truck sales helped it narrow its second-quarter loss to $172 million. That's compared with a first-quarter loss of $197 million.
  • Sara Lee Chairman and CEO Brenda Barnes will step down permanently following a stroke. The 56-year-old Barnes had been on temporary leave since mid-May.

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