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* Shares of Callaway Golf Co. rose 12% after the company said revenue in 2006 beat analysts’ estimates on sales of its Callaway Golf and Odyssey brands. Revenue totaled $1.02 billion last year, the Carlsbad, Calif.-based company said. That beat the average estimate of $1.01 billion in a Bloomberg survey.

* UAL Corp.’s United Airlines said it would cancel frequent-flier miles for customers who go 18 months without using the program. Travelers can keep their accounts active by flying the airline, using a United-branded credit card or using or donating miles, the Elk Grove Township, Ill.-based airline said.

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