BUSINESS BRIEFS.(TO THE POINT)

TOBACCO Altria falls on Philip Morris case Altria fell 7% after falling 14% intraday to a 2 1/2-year low. The tobacco and food giant said it can't pay the $12 bil bond ordered to appeal its $10.1 bil "light" cigarette verdict. Standard & Poor's threatened to cut Altria to junk. Altria also said it may not be able to make a $2.6 bil payment due to the states this month under the '98 settlement. So states may intervene to try to lower the appeal bond. ** Rivals R.J. Reynolds and Carolina Group also fell. RETAIL Best Buy seeks Musicland buyer The No. 1 U.S. consumer electronics retailer is looking to sell its Musicland unit, which includes Sam Goody, Media Play and Suncoast stores, amid falling CD sales and slow mall traffic. Best Buy paid $377 mil for Musicland in Jan. '01. Best Buy will report Musicland as discontinued ops, cutting Q4 continuing profit by 3 cents a share but up '03 by 15 cents. More on A6

** Kmart will cut 660 jobs, including 400 from headquarters. It's the 2nd round of cuts at the retailer's HQ since its Jan. '02 ...