The Federal Trade Commission closed a two-year antitrust investigation of Intel Corp. yesterday without taking action on the way the semiconductor manufacturer sells computer microprocessors.
Intel, the manufacturer of the popular 486 microprocessor, the brains of most IBM-type personal computers, was informed by letter from the FTC's Bureau of Competition that the agency had decided against any action.
July auto sales surge
The auto industry's long-awaited recovery gained momentum in early July as sales of North American-made cars and trucks surged 14.6 percent, automakers reported yesterday.
Domestic car sales rose 6.6 percent, to 164,377 units, while light truck, minivan and sport utility sales jumped 27.1 percent, to 124,814.
Dell Computer to report loss
Dell Computer Corp., whose business and expenses have grown too rapidly, said it would report its first quarterly loss next month. The news surprised Wall Street, where investors sent the company's stock price down 18 percent.
A loss, which could reach $1.85 a share, would snap five years of profitability from a company that is one of the most fabled in high technology.
Ruling to benefit BG&E; customers
Columbia Gas Transmission Corp. won a case in the Federal Third Circuit Court of Appeals in Philadelphia that could shave about 27 cents off the average monthly bill of Baltimore Gas and Electric Co.'s gas customers. The court said a refund to Columbia Gas from producers should go to customers rather than the unsecured creditors of the company, which is under Chapter 11 bankruptcy protection.
BG&E;, which receives gas from Columbia Gas, said the refund would amount to between $9 and $10 for the average gas customer spread over a three-year period.
Caterair to offer notes
Caterair International Corp. of Potomac plans to offer $230 million in senior subordinated notes to fund a company's refinancing. Half of the notes are due in 2001, and half are due a year later.
MedImmune agrees to alliance
MedImmune Inc. in Gaithersburg and American Cyanamid Co. have agreed to form a $30 million alliance in the United States for the development and marketing of four drugs, MedImmune said yesterday.