Dell drops 3Par bid • Dell Inc. is walking away from a bidding contest with rival Hewlett-Packard Co. for data-storage maker 3Par Inc. Dell said Thursday that it won't match H-P's offer to pay $33 per share for 3Par, or about $2.07 billion. Dell's decision came barely an hour after 3Par announced it had received Dell's revised offer of $32 per share and then the even stronger bid from H-P. 3Par said Dell's revised offer contained new terms that it found unacceptable, including a multiyear reseller agreement with Dell.
Phone service complaints up • Missouri regulators will investigate whether a growing number of consumer complaints about the state's local telephone services indicates systemwide deterioration, the Public Service Commission announced Thursday. Consumer complaints and inquiries to the PSC regarding telecommunications service quality dropped since 2006, until recently. The commission recorded 332 complaints in the fiscal year ending June 30, compared to 255 complaints during the previous period. In a motion to open a case, the commission's staff raised questions about whether the state's wireline infrastructure is properly tested, maintained and replaced when broken. If the commission's investigation blames phone companies, it can seek to withdraw waivers that free most telecommunications providers from PSC oversight when it comes to service-quality issues, said Natelle Dietrich, the commission's director of utility operations. She said a company would first be given the chance to fix the problems, then a hearing would be held. Members of the public can chime in on the quality of their local phone service on the commission's website, psc.mo.gov, or by mail to P.O. Box 360, Jefferson City, Mo., 65102. The reference number is TO-2011-0047. (Matthew Hathaway)
earnings
H&R Block Inc. said its first-quarter loss narrowed. The Kansas City-based tax preparer posted a net loss of $130.7 million, or 41 cents per share, compared with a loss of $133.6 million, or 40 cents, last year. Revenue slipped to $274.5 million.
Krispy Kreme Doughnuts posted a small profit in the second quarter. Net income came to $2.2 million, or 3 cents per share, compared to a loss of $157,000 or break-even, a year ago. Revenue rose 6 percent.
LaBarge Inc. said its fourth-quarter net income rose 85 percent. The Ladue-based company earned $4.8 million, or 30 cents per share, up from $2.6 million, or 16 cents, a year ago. Sales rose to $82.4 million.
From staff and wire reports
