Ford up
Ford Motor Co., the only major US auto maker to avoid bank ruptcy, rose after posting unexpected third-quarter net income of $997 mil lion, its first operating profit since early 2008, on smaller discounts and higher sales.
Lost bet
Gary S. Kaplan, founder of the Betonsports Plc In ternet gambling site, was sentenced to 51 months in prison for his role in the company’s violation of US laws banning the placement of bets by wire.
Tiger cubs
Tiger Management and its founders, billionaire hedge fund managers Ju lian Robertson and Emil Henry Jr., said they started a private equity firm to invest in infra structure in North Amer ica and Europe.
Legal bonuses
Cravath, Swaine & Moore LLP announced bonuses for salaried lawyers ranging from $7,500 to $30,000, based on experience, accord ing to a firm. The bon uses are less than half of what the most junior associates received last year.
Tool deal
Stanley Works agreed to buy Black & Decker in an all-stock deal val ued at $4.5 billion. Black & Decker holders will get 1.275 Stanley Works shares for each share of stock they own. Stanley share holders will own about 50.5 percent of the eq uity of the combined company, and Black & Decker shareholders will own about 49.5 percent, according to the statement.