Yahoo rejects Microsoft's $45B bid; Dow adds BofA, Chevron
CBS
Transcript
[Music] Yahoo is saying thanks but no thanks to Microsoft's $45 billion takeover offer. Yahoo says the bid undervalues the company. Wall Street's now betting that Microsoft will up the ante in the coming weeks by another 5 to12 billion. On Wall Street, oil and tech stocks gave the overall market a late day boost. The Dow Jones Industrial Average rallied nearly 58 points while the Nasdaq jumped 15. Some changes are coming to the Dow Jones Industrial Average. Honeywell and Altria are being dropped from the 30 stock index. They'll be replaced by Bank of America and Chevron. It's the first change in the makeup of the blue chip index in almost four years. Strong sales of Transformers and Star Wars toys helped Hasbro post a 24% jump in quarterly profits. Even so, Hasbro says it plans to raise prices this year to offset rising costs. And Starbucks is ditching T-Mobile and hooking up with AT&T to offer a mix of free and paid wireless internet service in its stores. Beginning this spring, it will give customers that use its Starbucks purchase card 2 hours of free Wi-Fi access per day. And the online video rental company Netflix is switching exclusively to the Blu-ray format for highdefinition DVDs. The move comes after four major movie studios chose the Sony technology over one pushed by Toshiba. That's your money watch. Log on to cbsnews.com for more. In New York, I'm Alexis Christopherus.