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BUSINESS BRIEFS.(A)

Investor's Business Daily

| March 04, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

ENERGY

Calif. shows final price-fixing info

Officials showed a new batch of evidence to the Federal Energy Regulatory Commission in the state's claim for $7.5 bil in electricity refunds. The state says wholesalers withheld power to create false scarcity and hike prices. A FERC judge OK'd $1.8 bil last year, but commissioners must OK the amount. The new evidence will remain secret.

** A refund ruling for El Paso Corp. should include Phelps Dodge and other non-Calif. customers, the Ariz. mining firm said in a letter to El Paso execs and regulators.

** Calpine restated earnings due to an accounting change, cutting '00 EPS by a penny to $1.18, '01 EPS by 7 cents to $1.80 and '02 EPS by 6 cents to 33 cents. Further statements are possible. But the power generator rose 2.5% to 2.86.

** Exxon Mobil may buy back billions of dollars worth of its stock and may announce it today, analysts say. Exxon shares haven't done much despite strong Q4 results and surging oil prices.

MEDICAL

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