Market Gawk

TEL AVIV (MarketWatch) — The Bush administration has changed the U.S. government’s approach to Microsoft Corp., now defending the Redmond, Wash., software giant against accusations of anti-competitive conduct instead of trying to break it up, The New York Times reported. The move reflects the Bush administration’s different view of antitrust law as well as changes in technology markets, the paper said. In particular, the Times cited a memo last month from the Justice Department’s top antitrust official, urging state prosecutors to reject an antitrust claim filed by Google against Microsoft. Google accuses MSFT of designing its new Vista operating system to discourage use of Google’s search program, lawyers in the case told the paper.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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TEL AVIV (MarketWatch) - Ericsson signed a $1 billion agreement to supply core and radio network equipment and complementary services to expand China Mobile’s GSM coverage in 19 regions within China.

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Russian President Vladimir Putin on Sunday criticized international economic institutions for protecting the interests of a select few developed countries and called for a new global economic order that would give rapidly growing developing economies a bigger role.

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From rock legends to movie idols to porn stars to pop icons, the number of celebrity-branded beverages has burgeoned as alcohol marketers seek to leverage our fame-obsessed culture into liquid gold. And while the concept is hardly new — think Billy Beer — the trend has picked up over the past few years as more stars lend their names to the chorus of booze.

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CHICAGO (MarketWatch) — When the Hohnstines became true empty nesters — their children finished with college — the couple bought a vacation home. They figured if they enjoyed their vacations near the Delaware shore, they would eventually retire there as well.

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SAN DIEGO (MarketWatch) — From the ”a case study in stocks” department: Bucking the trend is what Connecticut hedge-fund manager Jeff Matthews of Ram Partners did early last year when his $60 million fund started buying beaten-down shares of Align Technology Inc. , the Santa Clara, Calif., maker of the Invisalign invisible braces used to straighten teeth.

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SHANGHAI (MarketWatch) — Investors in China’s wireless services providers who were hoping for a pleasant second-quarter surprise from wireless application protocol, or WAP, based services will be very disappointed by a policy change from China Mobile Ltd.

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SAN FRANCISCO (MarketWatch) — Occidental Petroleum Corp. CEO Ray Irani topped the list of U.S. chief executives who made the largest gains from exercising their stock options last year, with a gain of $270.2 million, said the Associated Press Saturday.

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SAN FRANCISCO (MarketWatch) — Boeing Co. said Saturday that Russia’s Aeroflot was ordering 787 Dreamliner jets, giving the jetmaker fresh bragging rights as it battles for market share with European rival Airbus.

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CHICAGO (MarketWatch) — Rags to Riches on Saturday became the first filly in more than 100 years to win the Belmont Stakes, dueling neck and neck with favored Curlin down the stretch to prevail by a head in the third and longest race in the Triple Crown series.

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