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ENERGY
ChevronTexaco profit beat views
The No. 2 U.S. oil firm posted operating net of $1.86 a share, topping views by 24 cents. ChevronTexaco has beaten forecasts three straight quarters. Last year the firm lost 85 cents ex-charges. Revenue surged 22% to $31 bil, boosted by higher oil and gas prices. But production fell 4%, much like rivals. Chevron said it'll cut 2000 jobs, 3.9% of staff, by early '05. Shares rose 4% to 74.30.
AutoZone investor selling shares
ESL Investments, a hedge fund headed by CEO and Chairman Edward Lampert, will sell 5.6 mil shares of the No. 1 U.S. car parts retailer. That's a fifth of ESL's total stake. Lampert owned 25.5 mil AutoZone shares, or 28.8% of shares out, as of Oct. 14. AutoZone shares sank 7% ...