Microsoft hit a wall Monday in an attempt to prevent its temporary and contract workers from buying company stock at reduced prices when the US Supreme Court refused to hear the appeal.
The justices let stand an appeals court ruling that greatly expanded the number of former and current workers who can join a class-action lawsuit against Microsoft over its lucrative employee stock purchase plan.
The high court rejected the appeal without comment.
The lawsuit's outcome could have widespread implications for many other companies that use temporary workers or independent contractors, a practice that's especially common in the technology industry.
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Realignment: Like a giant amoeba, Aetna will split into two global units covering health and financial services, the health insurer said Monday.
A new Global Health unit will contain both Aetna's US and international health businesses, while a Global Financial Services unit will take charge of everything else. This includes the company's life and pension business, and its life, disability, and long-term care insurance products.
Richard Huber, Aetna's chief exec, said the realignment reflects the company's rapid growth.
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A wider voice: Nextlink Communications said it will pony up US$2.9 billion in stock to acquire Concentric Network Corp. as the telephone company attempts to expand its offerings beyond voice services.
By adding the ISP to its fold, Nextlink gains the ability to provide high-speed Net access and other data services to its customers.
Concentric shareholders will receive US$45 in Nextlink stock per share, subject to a collar, Nextlink said.
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Playboy's IPO philosophy: Playboy.com, the Internet unit of Playboy Enterprises, has filed regulatory documents with the Securities and Exchange Commission prepatory to taking itself public.
Playboy.com, which like its magazine namesake is aimed at a young male adult audience, released no details about how its IPO offering might fold out, er, unfold.
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Wings clipped: Raytheon Co. said it will sell its flight simulation and training business to L-3 Communications for $160 million as it moves to tighten its focus on core operations.
The flight training and flight simulation businesses employ more than 2,600 people at facilities in New York, Texas, Oklahoma, and Florida. L-3 supplies communications systems for aerospace and military uses.
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Alcoa profits up: Alcoa Inc., the world's largest aluminum producer, said Monday that its fourth-quarter earnings rose a higher-than-expected 53 percent because of strong demand for its US products and economic recovery in Asia.
Reuters contributed to this report.
