Also

* The machinists union at UAL Corp.’s United Airlines said it formally rejected management’s proposal for a 10% wage cut, potentially endangering a deal struck with pilots.

* Northrop Grumman Corp. said it will add about 1,250 jobs in El Segundo and 250 in Palmdale over the next four years for its work on the Joint Strike Fighter program. Northrop’s role is to assemble the jet fighter’s center fuselage.

* Hershey Foods Corp. said it would beat forecasts for second-quarter earnings, as sales growth helped offset the effect of a recent strike.

* Billionaire investor Carl Icahn raised his bid for Morton’s Restaurant Group Inc. to $16 a share from $15 a share, topping a rival bid from Castle Harlan.