Also

* International Business Machines Corp. completed its $2.1-billion acquisition of Cupertino, Calif.-based Rational Software Corp., gaining tools that developers use to create programs.

* Raytheon Co. and Lockheed Martin Corp. landed a $2-billion Air Force contract to build laser-guided bomb kits.

* As a sluggish economy and war fears continue to take a toll on the tourism industry, Walt Disney Co.’s Walt Disney World said it was cutting back the hours of some part-time employees and that there may be layoffs if matters worsen.

* McDonald’s Corp.’s credit ratings on about $9.8 billion in senior long-term debt were cut two levels to A2 by Moody’s Investors Service because of slowing sales.

* Motorola Inc. extended by a week a $30-million bid for the 26% of Next Level Communications Inc. it doesn’t own after few holders accepted the offer. At the same time, a judge agreed to decide whether to block the offer.

* Former Treasury Secretary Paul H. O’Neill rejoined the board of Eastman Kodak Co.

* Enron Corp. sued Whitewing Associates, seeking the return of $956.7 million that the energy company said it transferred to one of thousands of partnerships created to hide debt.