Also . . . - Los Angeles Times
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Also . . .

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* Cypress Semiconductor Corp., which makes chips used in telecommunications equipment, said its operating earnings fell to $787,000, or 1 cent a share, from $72.9 million, or 54 cents, a year ago. Sales fell 38% to $185.5 million. Analysts were expecting a loss of 1 cent. The company also said it will cut 650 jobs, about 14% of its work force.

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* StorageNetworks Inc., the leading provider of data storage management services, will fire 220 workers, or 33% of its staff, to reduce costs as customers have placed fewer orders.

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* Rosemead-based Edison International, which is trying to keep its utility out of bankruptcy, said it eliminated its third-quarter dividend because of the California energy crisis.

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The dividend would have been payable to shareholders Oct. 31, the company said. It’s the fourth time Edison’s board has withheld dividends from shareholders since December.

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