Fortune up

Fortune Brands’ fourth- quarter net income rose to $85.4 million from $11.5 million a year earlier, top ping Wall Street’s expec tations. It also confirmed its board would approve a company breakup in pieces and that it has hired Morgan Stanley to explore a spin-off or sale of the golf division.

Doll fight

MGA Entertainment, sued Mattel Inc., alleging the Barbie maker is try ing to sue MGA Enter tainment “to death” over the origins of MGA’s Bratz dolls. MGA seeks $1 billion in damages.

Hedge high

Hedge funds climbed 1.7 percent in January to the highest level since July 2008; the Bloomberg aggregate hedge-fund index rose to 122.36.

MySpace race

News Corp., which paid $580 million for My Space in 2005, may sell the social network for $50 million to $200 million, said Justin Siegel, chief executive of MocoSpace, a potential acquirer. News Corp., which also owns The Post, has agreed to talks, he said.

CFO switch

American Apparel named former Old Navy Chief Financial Officer John J. Luttrell as its new CFO, starting Monday.