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Crude Soars On Mideast Turmoil
1May crude shot up 90 cents to $27.68 a barrel. Iran said Islamic nations should play their oil card to get the U.S. to pressure Israel into retreat from Palestinian territories. Iraq proposed the idea earlier. Kuwait and No. 1 producer Saudi Arabia said revenues were needed to counter Israel's aggression. Crude gave back some gains after hours on U.S. supply data. More on this page
Arafat Offered 1-Way Exile Ticket
2Israel widened its offensive on a day of fierce battles. In Bethlehem, Palestinian gunmen forced their way into the Church of the Nativity, traditional birthplace of Jesus. Israeli and Hezbollah forces traded rocket fire across the Lebanon border. Israel's prime minister offered a one-way ticket out to Yasser Arafat. Arafat denounced the idea.
PeopleSoft, Analysts Rock Techs
3Human resources software maker PeopleSoft crashed 12.21, or 33%, to 25.16 after warning it'll miss Q1 profit forecasts due to a big sales shortfall. That followed bad news from Oracle and other enterprise software firms. Siebel, Manugistics, JDA Software and others slid. Also, Goldman Sachs cut profit views on Microsoft, IBM, EMC and Sun Micro. Microsoft fell 5%.
Profit Worries Dampen Market