Gateway becomes No. 3 in nation's PC market

SAN DIEGO -- Gateway Inc., hoping to reverse its sagging fortunes in the personal computer business, said Friday it would buy privately held eMachines Inc. in a deal valued at $235 million. The combined company would create the third-largest PC company in the U.S. market -- still far behind Dell Inc. and Hewlett-Packard Co. -- and give Gateway a stronger presence in low-end computers. The agreement came one day after Gateway posted its 12th loss in 13 quarters, a result of sharply declining sales and charges related to its makeover from a personal computer maker to consumer electronics company.

ChevronTexaco sees big fourth-quarter profit

SAN RAMON, Calif. -- ChevronTexaco Corp.'s fourth-quarter profit nearly doubled, capping a year in which the oil giant cashed in on high fuel prices to snap out of a financial malaise. The San Ramon-based company said Friday that it earned $1.7 billion, or $1.63 per share, during 2003's final three months.That marked a dramatic improvement from net income of $904 million at the same time in the prior year.

U.S. Steel keeps losing despite work force cuts

PITTSBURGH -- U.S. Steel Corp. on Friday reported a net loss for the fourth quarter following a year in which the company pared down its work force and shed a money-losing online venture. But its sales jumped with the acquisitions of steel firms in the United States and Europe. The world's largest integrated steel company reported a loss of $27 million in the last three months of 2003.

-- From wire reports