Starbucks

Starbucks’ debt rat ings may be lowered by Moody’s Investors Service after the coffee chain said yesterday it will cut 6,700 addi tional jobs and close 300 more stores.

Schwab cuts

Charles Schwab said it will cut as many as 600 jobs because the drop in interest rates may erode revenue. Revenue may drop as much as 20 percent if the Federal Reserve maintains its bench mark lending rate as low as zero, CFO Jo seph Martinetto said. Shares tumbled to their lowest since 2005.

Diss-ney

Walt Disney Co. is fir ing 200 employees at ABC television and cable channels such as Soap Net, including 40 people in news, a source said. The broadcast and cable division is also eliminat ing 200 positions that haven’t been filled.

Take-Two

OppenheimerFunds, the largest investor in video-game maker Take- Two Interactive Soft ware, bought an addi tional 2.1 million shares, increasing its stake to 20 percent. Oppenheimer now owns 15.4 million shares of Take-Two, according to a filing.

Allstate

Allstate dropped 21 percent in New York trading – $6.14 to $23.50 – after a quar terly loss raised con cern the company may end its 14-year streak of boosting its dividend. The company had a net loss of $1.68 billion, or $3.07 a share, in 2008, its first unprofitable year as a public firm.