* Alcoa Inc. recorded a better-than-expected quarterly...
* Alcoa Inc. recorded a better-than-expected quarterly profit, raised its dividend 50% and split its stock, as cost-cutting and acquisitions helped the biggest aluminum producer overcome low metal prices. Fourth-quarter net income was $218.3 million, or $1.18 a diluted share, up from year-earlier profit before a gain of $177.6 million, or $1.02. Per-share results beat Wall Street expectations of $1.06.
* Tandycrafts Inc. said it will fire about 550 workers, or 20% of its work force, as it closes 121 money-losing leather and crafts stores to focus on its profitable office supply and picture frame businesses. Fort Worth-based Tandycrafts will close its 120 Tandy Leather & Crafts shops and a Craft Your World shop during the next six months, taking a charge of up to $29 million. Most of the stores are in Texas and California.
* Alaska Air Group Inc., parent of Alaska Airlines, said officials seized records at two of the 10th-largest U.S. carrier’s maintenance centers as part of a federal grand jury investigation. The airline wasn’t informed of the subject of the inquiry, said Harry Lehr, Alaska Air’s chief financial officer. Government officials told the Seattle-based airline that the investigation doesn’t pertain to its safety and that the carrier is free to keep flying its planes.
* Coffeehouse operator Starbucks Coffee Co. said it plans to launch sales of a line of home coffee brewing and drinking products through retailers nationwide later this month. Seattle-based Starbucks plans to sell its home espresso machine, filter system and ready-to-brew espresso and other coffees, as well as coffee presses, mugs and other accessories. Currently, the goods are available only through its coffee shops or directly from the company.
