Tuesday Morning<br>Business Wrap

Betsy Karetnick
CBS
Americans love wireless phones, and that reality helped Motorola top earnings estimates. With profits more that tripled for the quarter, the telecommunications equipment maker earned 82 cents a share. Emerging from a slump, Motorola’s share price has more than doubled from year ago levels.

In the markets
Wall Street is back to work after a 3 day holiday. Earnings take center stage, but interest rate concerns could resurface.

  • Blue chips blasted to another record Friday, up 140 points.
  • Friday brought a triple digit gain for the Nasdaq as well, when the technology-heavy index ogained 107.
  • Overnight in Japan, the Nikkei lost 240.

Stocks to watch
  • U.S. investors get their first chance to react to the major merger between Smithkline Beecham and Glaxo Wellcome today.
  • On the earnings front, Microsoft results are expected today.
  • Tomorrow we hear from big blue. IBM has warned of weakness due to a delay in purchases by companies fearful of Y2K problems.

Online is the way to go to drive sales, says General Motors. The company's Chairman and CEO Jack Smith said yesterday that the automaker’s growing presence on the web is expected to add 50 to 100 thousands auto sales in the U.S. this year.