Martha Stewart sold $2.16 million worth of shares in Martha Stewart Living Omnimedia in the last week, according to government filings.
Sprint Corp. announced that it plans to lay off 1,100 more workers. This would bring the phone giant’s total job cuts since November 2003 to about 7 percent of its workforce.
Gerard Arpey, the chief executive officer of American Airlines parent AMR Corp., told Wall Street analysts that record-high jet-fuel prices will cost the carrier at least $500 million more this year, according to Reuters. Just one month ago, however he reportedly estimated this cost to be around $600 million or $700 million.
Video game publisher Acclaim Entertainment Inc. said its annual report will be late because its auditors have not completed their work, according to a filing. In May, it restated earnings for fiscal years 2001, 2002, and 2003 as a result of a $9.5 million accounting error.
Electronic Data Systems Corp. elected Edward Kangas, former chairman and chief executive of consulting firm Deloitte Touche Tohmatsu, to its board; 8 of the 10 members are independent, according to EDS.