IN BRIEF

Bally Technologies wins summary judgment

Bally Technologies won summary judgment in a patent infringement lawsuit with casino equipment rivals International Game Technology and Shuffle Master after a federal judge said the slot machine maker didn't infringe on patents owned jointly by the other companies.

U.S. District Judge Edward Reed of Reno said Bally's table game management system wasn't based on two patents for a similar system owned by IGT and Shuffle Master, which had sued Bally claiming patent infringement.

The lawsuit is one of almost a dozen patent-infringement cases pending in U.S. District Court between IGT and Bally. The rulings ended IGT and Shuffle Master's patent infringement case. However, the judge left intact two Bally counterclaims of patent infringement against IGT and Shuffle Master.

Wynn's compensation as CEO: $11.2 million

Casino developer Steve Wynn received $11.2 million in compensation as chief executive of Wynn Resorts Ltd. in 2007, a year the stock price rose 19.5 percent but net profit fell as the company expanded in Las Vegas and Macau.

Wynn's compensation included $3.2 million in salary, $7.5 million in nonequity incentive plan compensation and about $573,000 in other compensation, mostly for personal use of company aircraft, according to a proxy statement the company filed Monday with the Securities and Exchange Commission.

Wynn was not granted any stock or options in 2007 and owned a 21.1 percent stake in the company. A 21.6 percent stake is owned by Kazuo Okada, the founder of Japanese pachislot and pachinko machine maker Aruze Corp.

'Lifestyles' host in on TV production studio

A company co-founded by Robin Leach, the former host of the syndicated television program "Lifestyles of the Rich and Famous," said Tuesday that it has built a mobile, high-definition television production studio in Las Vegas.

VegasHD said it will make its production studio available to national and international production companies, network television and news programs.

VegasHD is headquartered in Las Vegas and has offices at 3485 W. Harmon Ave., Suite 110.

Leach is one of four managing members of the limited liability company.

ST. LOUIS

Monsanto shares rise after forecast boost

Monsanto Co. shares jumped nearly 10 percent Tuesday after the agricultural products company said earnings per share for the second quarter and for all of fiscal 2008 will be stronger than originally projected.

St. Louis-based Monsanto said its seeds and traits business will contribute more than expected to profit due to brand share growth and increased volume in the soybean business. Meanwhile, Monsanto said its Roundup and other herbicides have performed well in the second quarter, with demand exceeding supply.

Monsanto now projects that its full-year earnings per share will be in the range of $3.38 to $3.48, including a gain of 23 cents per share for a settlement of claims related to subsidiary Solutia's emergence from bankruptcy.

Excluding the gain, the expected earnings per share range from $3.15 to $3.25. The company previously expected full-year earnings per share of $2.70 to $2.80. Analysts expect full-year earnings of $2.87 per share.

NEW YORK

Law dictating service for fliers struck down

A federal appeals court Tuesday struck down a state law requiring airlines to give food, water, clean toilets and fresh air to passengers stuck in delayed planes, saying the measure was well-intentioned but stepped on federal authority.

The 2nd U.S. Circuit Court of Appeals said New York's law -- the first of its kind in the country -- interferes with federal law governing the price, route or service of an air carrier.

The law was enacted after thousands of passengers were stranded aboard airplanes for up to 10 hours on several JetBlue Airways flights at Kennedy International Airport on Valentine's Day 2007. They complained they were deprived of food and water and that toilets overflowed.

WASHINGTON

Central bank auctions off another $50 billion

Fighting to ease a dangerous credit crisis, the Federal Reserve has provided $260 billion in short-term loans to squeezed banks since December to help them overcome credit problems.

The central bank on Tuesday announced the results of its most recent auction -- the eighth since the program started in December -- where commercial banks bid to get a slice of $50 billion in short-term loans.

In the most recent auction -- which marked the eighth -- commercial banks paid an interest rate of 2.615 percent, the lowest rate for any of the auctions of this kind conducted so far.

SAN FRANCISCO

Gartner cuts forecast for PC sales growth

Market researcher Gartner on Tuesday cut its forecast for worldwide personal-computer sales growth, citing the weakening economy, and cautioned that growth could fall into the single digits.

The industry is expected to ship 10.9 percent more computers this year than in 2007, Gartner said, down from an earlier forecast of 11.6 percent. In 2007, shipments grew 13.4 percent to 271.2 million units, U.S.-based Gartner estimated in January.

In addition to a U.S. economic slowdown, the possibility of a sharp slowdown in China's economy following this year's Olympic games in Beijing and higher oil prices could hurt PC sales, Gartner said.

NEW YORK

Longer-term Treasurys rise; traders seek safety

Longer-term Treasurys rebounded Tuesday from a sell-off a day earlier after a huge drop in home prices and a sharp plunge in consumer confidence led investors to again seek out the safety of government bonds.

The benchmark 10-year Treasury note rose 0.5 points to 100.06, and yielded 3.49 percent, down from 3.55 percent late Monday, according to BGCantor Market Data. Prices and yields move in opposite directions.

The 30-year long bond rose 1.22 to 101.22, with a yield of 4.30 percent, down from 4.37 percent.