Business digest 11/23/04

Trump files bankruptcy for casino operation

NEWARK, N.J. -- Patrons of Donald J. Trump's gambling halls probably won't notice, but his casino empire is now in bankruptcy after months of negotiations with bondholders over a crushing $1.8 billion debt. Trump Hotels & Casino Resorts Inc. -- mainly consisting of three Atlantic City properties and a riverboat casino in Indiana -- and related operations sought a Chapter 11 restructuring on Sunday after reaching agreement with most of its creditors on a new financial structure for the business. Trump's stake would be slashed to 27 percent from 47 percent, even after he plows $72 million into the new operation.

Krispy Kreme shares fall on poor earnings report

CHARLOTTE, N.C. -- Krispy Kreme Doughnuts Inc.'s quarterly earnings fell sharply for the third consecutive quarter, as sluggish sales and an intensifying government investigation raised concerns Monday about whether the glaze was permanently off the once-hot pastry maker. The company's shares fell 16 percent. Losses for the three months ending Oct. 31 were $3 million, or 5 cents per share, down from a profit of $14.5 million, or 23 cents per share, a year ago. Analysts had expected Krispy Kreme to earn 13 cents per share. The shares are off more than 70 percent since the beginning of the year.

Apple Computer stock hits high because of iPod

NEW YORK -- Apple Computer Inc. stock jumped to a four-year high Monday after a major Wall Street firm nearly doubled its price target on the stock, saying that customer satisfaction with its iPod music player is creating "wildfire word-of-mouth marketing" for its Mac computers and other products. Shares of Apple closed the day at $61.35, up $6.18, or 11 percent, on the Nasdaq Stock Market. Apple shares traded as high as $64, besting the 52-week high of $56.91 set Friday. This is the highest the stock has been since September 2000.

American Airlines delays Boeing purchase

DALLAS -- American Airlines, struggling to make money despite high fuel prices and fierce competition, is delaying the delivery of 54 jetliners from The Boeing Co. in a move that underscores the split between aging carriers and low-cost rivals such as Southwest and JetBlue. American, the nation's biggest airline, had agreed to take the planes between 2006 and 2010, but it said Monday it would defer delivery to delay $2.7 billion in spending through 2010 -- more than half of it in the next three years.

Pulitzer shares surge on news of possible sale

ST. LOUIS -- Pulitzer Inc. shares spiked 17 percent Monday, a day after the publisher of the St. Louis Post-Dispatch and more than a dozen other newspapers confirmed it was considering a possible sale. Pulitzer is exploring "a range of strategic alternatives" that include a potential sale, the company said Sunday. The news sent Pulitzer stocks surging up $9.44 to $64.25 on the New York Stock Exchange -- well above the company's 52-week closing high of $56.64.

-- From wire reports