Sunday, June 18, 2006
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Gwinnett Daily Post
Home Depot: Internal review found unrecorded stock option expense
ATLANTA - An internal review at The Home Depot Inc. found about $10 million in unrecorded stock option expense, the nation's largest home improvement store chain said Friday.
The Atlanta-based company said the amount is not material and it does not plan to restate any of the past year's financial results.
Mirant says it isn't mulling acquisitions
NEW YORK - Mirant Corp. acknowledged Friday that pressure from shareholders contributed to its decision to drop its bid for fellow power producer NRG Energy Inc. and said it isn't considering other acquisitions.
The Atlanta-based energy company also said it hopes to complete a transaction to recapitalize its business in the Philippines in July.
Stocks fall slightly after two days of gains
NEW YORK - Stocks fell slightly Friday at the end of a week of zigzag trading that saw a steep selloff followed by a dramatic rebound. The major indexes finished the week mixed, with large caps seeing gains and small caps slipping.
Traders paused after a two-session rally undid weeks of selling that had erased the gains in the major indexes for the year. The Dow Jones industrial average gained 110 points Wednesday and nearly 200 points Thursday.
Airbus executive defends stock sales
PARIS - The embattled co-chief executive of Airbus parent EADS on Friday defended his sale of shares in the company before news of delays to Airbus' A380 superjumbo sent the stock tumbling, even as France's market regulator confirmed that it would look into the transactions.
European Aeronautics Defence & Space Co.'s French co-CEO, Noel Forgeard, described as an ''unfortunate coincidence'' the stock sales in March on which he earned 2.5 million euros.
- From wire reports