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By Deborah Schofield, 19 January 2001 09:30

NEWS The Financial Times reports that the largest online auction site, Ebay, has reported stronger than expected fourth quarter earnings. The increase in net income, from $3.8m to $23.9m excluding one-off compensation and amortisation charges, beat Wall Street's predictions. Cause for double celebration, a lawsuit brought against Ebay by shoppers on the site has been dismissed by a California state judge, says the New York Times. The buyers, who say they were sold fake sports memorabilia, intend to appeal, but Ebay CEO Meg Whitman was quick to point out this is the second time in recent months that legal proceedings have found in the companies favour... Elsewhere in the FT, Nortel Networks' shares soared in after-hours trading yesterday, as the fibre optic specialist reported strong fourth quarter results amid slowing economic conditions and a tightening of capital available to telecoms companies... The Guardian tells of Autonomy's seemingly sustained success. The company has announced a licensing deal with Franco-American software firm Business Objects. CEO and founder Mike Lynch sought to assure investors that Autonomy will forge alliances, thereby distributing its software globally, despite not having heavy-weight partners. Investors seemed convinced and shares shot up 170p... Carphone Warehouse's tale today is one of mixed fortunes. The Telegraph tells of a staggering 98 per cent increase in overall group sales for the quarter to December, catapulting the company into pole position as the UK's mobile phone retailer. However, results omitted like-for-like figures, allowing fair comparison, on the basis that so many of its stores are immature. Seasoned retail watchers obviously considered this a fundamental flaw. Sadly, we therefore end this daily delve on a slightly less positive note than intended, with Carphone Warehouse watching 18.5p fall from its share price accompanied by analyst predictions it is a bumpy road ahead...