Briefly

Ford Motor Co. settles rollover lawsuits

SACRAMENTO -- Ford Motor Co. on Wednesday agreed to settle class-action lawsuits covering plaintiffs in four states who claimed its Explorer sport utility vehicles were prone to rollovers, the company and an attorney for the plaintiffs said. The settlement applies to about 1 million people in California, Connecticut, Illinois and Texas, said Kevin P. Roddy, a New Jersey attorney and co-counsel for the SUV owners who brought the lawsuit. He said the settlement was to be filed later Wednesday in Sacramento County Superior Court. It will allow vehicle owners to apply for $500 vouchers to buy new Explorers or $300 vouchers to buy other Ford or Lincoln Mercury products, Roddy said.

Rising revenue, falling expenses cut TiVo's loss

ALVISO, Calif. -- Digital video recorder maker TiVo Inc. on Wednesday reported a narrower fiscal third-quarter loss as revenue rose sharply and expenses fell. For the quarter ended Oct. 31, TiVo posted a loss of $8.2 million, or 8 cents per share, versus a loss of $11.1 million, or 12 cents per share, a year ago. Analysts expected a loss of 13 cents per share, according to a Thomson Financial survey. Adjusted earnings before interest, taxes, depreciation and amortization were $300,000, better than company guidance, according to TiVo. The company recorded a comparable loss of $6 million in the year-ago period.

American Airlines to sell off regional carrier

DALLAS -- The parent of American Airlines said Wednesday it plans to sell or spin off its American Eagle regional carrier next year. Its shares rose 6.9 percent. Investors have been pressing AMR Corp. to sell the regional airline and other assets, moves they say could raise money and lift AMR's stock price. American Airlines is the nation's biggest airline. The industry has been under pressure from record fuel prices. But AMR has posted six straight profitable quarters as planes were more full and passengers paid higher average fares.

Existing home sales fall in October

WASHINGTON -- Hit by a severe credit crunch, existing home sales fell for the eighth straight month with median home prices dropping by a record amount. The National Association of Realtors reported Wednesday that sales of existing homes dropped by 1.2 percent last month to a seasonally adjusted annual rate of 4.97 million units. That represented the slowest sales pace on record going back to 1999 and was 20.7 percent below activity a year ago.

-- From wire reports