Business news for Mon, 24 Dec 2007 & with word francisco. 19 news.

SAN FRANCISCO - Shopping malls can't stop protesters from calling for boycotts of its stores, even when they're on mall property, the California Supreme Court ruled today.

SAN FRANCISCO (MarketWatch) - U.S. stocks ended higher Monday in a shortened Christmas Eve trading session, aided by flurry of deals which included Alcoa Inc.'s $2.7 billion sale of its packaging and consumer businesses.

SAN FRANCISCO (MarketWatch) - Target Corp. warned on Monday that December sales at stores open at least one year were running well below its previous forecast and may actually decline, jeopardizing earnings growth at the No. 2 U.S. retailer.

SAN FRANCISCO (MarketWatch) -- Maxjet Airways threw itself onto bankruptcy protection Monday as soaring costs, stiff competition and a deteriorating credit market scuttled the fledgling airline's bid to carve out a niche for itself by catering exclusively to business-class passengers in the trans-Atlantic market.

SAN FRANCISCO (MarketWatch) -- U.S. stocks finished higher in Monday's shortened trading session, aided by a flurry of M&A deals that included a $2.7 billion sale by Alcoa Inc. of its packaging and consumer businesses. In preliminary closing figures, the Dow Jones Industrial Average rose 106 points to 13,555, the S&P 500 Index gained 12 points to end at 1,497 and the Nasdaq Composite Index advanced 22 points to 2,713, with shares of Apple Inc. approaching the $200-a share mark. Apple's stock ended up 2.8% at $198.80.

SAN FRANCISCO (MarketWatch) - Gold futures rose for a second straight trading day on Monday as the dollar fell against a basket of other major currencies. Copper futures rose for a fourth day. Gold futures for February delivery rose $1.1, or 0.1%, to $816.5 an ounce on the New York Mercantile Exchange. Copper futures for March delivery rallied 5.6 cents, or 1.8%, to $3.1535 a pound. Copper has risen more than 10% since Dec. 19. The dollar index, which tracks the value of the dollar against a basket of other major currencies, fell for a second day, down 0.2% at 77.57. A weaker dollar tends to increase the appeal of dollar-denominated gold as an investment haven.

SAN FRANCISCO (MarketWatch) -- Fitch Ratings said Monday it is maintaining its negative outlook on Merrill Lynch & Co. despite efforts by the investment bank to boost its capital as it is expected to record additional losses going forward. "Fitch believes that there is a high probability that additional losses will be recognized in fourth-quarter 2007 which collectively may result in Merrill Lynch posting a loss for its 2007 fiscal year," said Fitch in a statement. However, the rating agency noted that Merrill Lynch's move to secure up to $6.2 billion from Temasek Holdings Pte. Ltd. and Davis Selected Advisors and its sale of Merrill Lynch Capital to GE Capital are positive developments for potentially stemming further downgrades. Fitch cut Merrill Lynch's long term issuer default rating to A+ on Oct. 24.

SAN FRANCISCO (MarketWatch) -- The results of the Treasury Department's 3-month and 6-month bill auction show demand remains robust for risk-free short-term instruments ahead of the end of the year. The Treasury awarded $20 billion in 3-month bills at 3.28%, compared with last week's 3.0%. The bid-to-cover -- which measures bids received to bids tendered -- was 2.32, unchanged from last week. The indirect bid, a carefully watched category that includes foreign buyers, was 26.4%, up from 16.0% the week before. The Treasury also awarded $19 billion in 6-month bills at 3.49% compared with 3.28% last week. The indirect bid rose to 37.1% from 30.5% and the bid-to-cover rose to 2.61 from 2.34 last week. The auction "was well-bid, helped by the $2 billion cut in offering size to $39 billion, though light trading conditions limited demand," wrote analysts at Action Economics.

SAN FRANCISCO (MarketWatch) -- Treasurys were slightly lower Monday, pushing up yields, as firm stock prices decreased the appeal of fixed-income assets in extremely thin pre-holiday trading. U.S. bond trading will end early on Monday, and overnight Japanese and German markets were closed Monday for holidays. "With the holiday-shortened week, our expectations for any paradigm shifting events are pretty light," said David Ader, U.S. government bond strategist at RBS Greenwich Capital. "With the bench players now in the field until the New Year, we would err on the side of limited conviction for any moves over the next few trading sessions." The benchmark 10-year Treasury note was down 7/32 at 100 12/32, with a yield of 4.2%. The 30-year bond was down 10/32 at 106 9/32 with a yield of 4.61%. The two-year note was down 2/32 at 99 26/32 with a yield of 3.21%. On Wednesday, the Treasury Department will sell $22 billion in two-year notes, and on Thursday, it will sell $13 billion in five-year notes.

SAN FRANCISCO (MarketWatch) -- Airline stocks took an early turn into positive territory Monday, led by 3% gains for American Airlines parent AMR Corp. and US Airways Group . The Amex Airlines Index was ahead 1.5% in early trades at 37.04 points, drawing strength from lower fuel prices to outpace a 0.6% rise in the broader equities market. Volume is likely to be light in the shortened pre-holiday session, which wraps it all up ahead of Christmas at 1 p.m. Eastern Time.

SAN FRANCISCO (MarketWatch) -- Energy stocks opened mixed in thin pre-holiday trade Monday, with a decline in crude-oil futures keeping the sector from participating in a move higher by the broader market. Early trades saw the Amex Oil Index rise 0.2% to 1,550 points, edging slightly into record-high territory, while the Philadelphia Oil Service Index pulled back 0.4% and the Amex Natural Gas Index slipped 0.2% to 579.5 points. Crude for February delivery was last down 47 cents at $92.84 a barrel on the New York Mercantile Exchange.

SAN FRANCISCO (MarketWatch) -- The dollar ticked higher against the yen while losing ground against the euro Monday, but remained in recent ranges in extremely thin trading ahead of the Christmas holiday. "The U.S. economic calendar is empty on Monday, and we expect the greenback to remain rangebound through the morning session," wrote currency analysts at Action Economics. The dollar index, which tracks the greenback against a basket of six major currencies, was at 77.595, compared with 77.730 late Friday. The euro was trading at $1.4396, up from $1.4356 late Friday, while the pound was at $1.9773, down from $1.9810. Against Japan's currency, the dollar was buying 114.29 yen, up from 114.06 yen Friday.

SAN FRANCISCO -- (MarketWatch) -- Crude oil fell below $93 a barrel on Monday ahead of the Christmas holiday. Crude futures for February delivery were last seen down 46 cents, or 0.5%, at $92.85 a barrel on the New York Mercantile Exchange. It rose to an intraday high of $93.84 in electronic trading early on speculation demand for heating oil may increase during the winter.

SAN FRANCISCO (MarketWatch) - Technology stocks up slightly Monday morning with Microsoft Corp. and newcomer NetSuite Inc. gaining more than 1%. The Nasdaq Composite Index , the Morgan Stanley High Tech 35 Index and the Philadelphia Semiconductor Index were up fractionally. The Dow was ahead more than 60 points.

SAN FRANCISCO (MarketWatch) -- U.S. stocks opened higher Monday, with shares of blue-chip index component Alcoa Inc. up more than 1.6% after the aluminum giant agreed to sell its packaging and consumer businesses for $2.7 billion. The Dow Jones Industrial Average was up 59 points, or 0.4%, at 13,509.39. The broader S&P 500 Index rose 5 points, or 0.3%, to 1,489.06 and the tech-heavy Nasdaq Composite Index rose 5 points, or 0.2%, to 2,697.17. Trading will end early, at 1 p.m. Eastern in observance of the Christmas holiday.

SAN FRANCISCO(MarketWatch) -- Gold futures were little changed on Monday ahead of the Christmas holiday. Gold futures for February delivery were last up $1.4, or 0.2%, at $816.8 an ounce on the New York Mercantile Exchange. The futures rose to an intraday high of $817.5 earlier. In currencies trading, the dollar were slightly lower against a basket of other major currencies. The dollar index was last down 0.2% at 77.58.

SAN FRANCISCO (MarketWatch) -- Harrah's Entertainment Inc. said Monday that the National Indian Gaming Commission has given it all necessary regulatory approvals to close the proposed acquisition of the company by affiliates of Apollo Global Manangement and TPG Capital. With no more regulatory clearances required, the deal is expected to close in early 2008.

SAN FRANCISCO -- Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come.

SAN FRANCISCO (MarketWatch) -- Japan's Cabinet on Monday approved a 83 trillion yen ($728 billion) budget for the 2008 fiscal year, according to a published report. The Associated Press said the draft budget is 0.2% higher than fiscal 2007 -- a second consecutive year of increases. The budget increase is due in part to higher social security payments, which are offsetting declines in defense spending, overseas aid and public works projects, the AP said.