Time Warner's AOL unit said Wednesday that it is laying off 1,300 call-center employees under a previously announced restructuring plan and looking to sell a support center in Ogden, Utah, with about 400 employees. The company said that it will close call centers in Albuquerque, N.M., and Tucson, Ariz., with 900 and 400 jobs, respectively. AOL also plans to sell its Ogden center to an unnamed buyer.
Consumer and commercial finance firm CIT Group Inc. has named Martha Stewart Living Omnimedia president and CEO Susan Lyne to its board, it said Wednesday, bringing its total number of directors to 11. Lyne also will serve on the board's compensation committee.
John Malone's Liberty Media said Wednesday that its Liberty Interactive Series A common stock will become part of the Nasdaq 100 Index and the Nasdaq 100 Equal Weighted Index as of Tuesday. The Nasdaq 100 Index, launched in 1985, is one of the most widely followed stock benchmarks.
Shares of Yahoo! Inc. hit 52-week lows Wednesday, a day after disappointing investors with its third-quarter earnings report and fourth-quarter guidance. The stock closed down 4.8% at $22.99 after going as low as $22.88 in intraday trading. The previous 52-week low was $23.57. RBC Capital Markets analyst Jordan Rohan wrote in a note to investors Wednesday that Yahoo! shares are "halfway through a bottoming phase."