Third-quarter profit for Home Depot edged up to $947 million from $934 million a year earlier, as the largest U.S. home-improvement retailer got a boost from the gradually recovering housing market. Chairman and CEO Frank Blake said he sees the housing market becoming "an assist to our growth rather than an anchor." Revenue rose more than 4 percent to $18.13 billion, besting Wall Street's forecast of $17.92 billion.
Slightly more Americans will hit the road this Thanksgiving, according to AAA, including people who will drive instead of fly as household budgets remain tight. In its annual Thanksgiving travel forecast released Tuesday, AAA predicts 43.6 million Americans will travel at least 50 miles from home over the holiday, up just 0.7 percent from last year. The number of travelers forecast to drive, fly or hop on a train or bus this holiday is still 26 percent below the peak in 2005 and 14 percent below 2007.
Former Disney CEO Michael Eisner, 70, is getting back in the movie business. Eisner said Tuesday that the media company he founded, the Tornante Company, will finance films that will be distributed by Comcast's Universal Pictures. The distribution deal will likely help Tornante raise outside financing. There is no set number of films in the multiyear deal. Eisner was CEO of the Walt Disney Co. from 1984 to 2005.
The latest version of Microsoft's Web browser is now available to the vast audience using personal computers running on the Windows 7 operating system. The redesigned browser, Internet Explorer 10, made its debut last month when Microsoft released Windows 8, which makes dramatic changes to an operating system that has been powering PCs for decades. Internet Explorer 10 was initially introduced Tuesday to Windows 7 users in a "preview," or test, mode. Although Microsoft is staking its future on Windows 8, far more PCs rely on Windows 7.
Fiscal first-quarter profit for Cisco Systems, up 18 percent from a year earlier, as the biggest maker of computer networking equipment gained more solid footing after warning earlier this year of an abrupt slowdown in technology spending
tHE BOTTOM LINE: The Financial Stability Oversight Council, led by Treasury Secretary Timothy Geithner, is urging the Securities and Exchange Commission to adopt stricter rules for money market mutual funds ...Marty Baron, editor of the Boston Globe, will replace Marcus Brauchli as executive editor of the Washington Post at the end of the year