Stocks jump Stocks vaulted higher Friday after a strong U.S. jobs report reassured investors that the economic recovery is on track.MORE DETAILS TO FOLLOW...
• STOCKS ADVANCE AHEAD OF JOBS DATA Stocks edged higher Thursday, led by the technology sector, as the government reported a drop in weekly jobless claims and a rise in manufacturing activity, but many investors remained wary of taking big stakes ahead of a key employment report.
• AMERICA ONLINE SETS UP SOFTWARE CENTER IN INDIA Internet giant America Online, which has cut jobs on its home turf to deal with subscriber losses, is moving to save money by hiring employees and setting up a software development center in India.
• SUN CUTS 3,300 JOBS, SETTLES WITH MICROSOFT Sun Microsystems Inc. said Friday it is eliminating 3,300 jobs as part of a broad-based cost-cutting plan and said it has entered a "broad cooperation agreement" with Microsoft Corp., settling all outstanding litigation between the two rivals.
• TYCO JURORS REQUEST KOZLOWSKI DOCUMENTS Jurors on Thursday heard a judge clarify two charges against former Tyco International executives L. Dennis Kozlowski and Mark Swartz — securities fraud and conspiracy to commit grand larceny and possess stolen property.
• FORECASTERS SCALE BACK JOB HOPES After months of overestimating job growth, cautious forecasters have lowered their sights and are looking for only a modest increase in payrolls Friday, when the government delivers its monthly update on employment.