Automatic Data Processing (NYSE:ADP) announced late Friday that it has completed the spin-off of its brokerage services group via a tax-free distribution to its shareholders. ADP said its shareholders would receive one share of the new Broadridge stock for every four shares of ADP stock that they own. The new stock will trade on the NYSE under the symbol "BR" beginning on Monday.

Atria Group (NYSE:MO) announced that it had completed its spin-off of Kraft Foods Inc. (NYSE:KFT) to Altria's sahreholders. The distribution of Altria's 88% stake was made on Friday to shareholders on record as of March 16th. Altria shareholders received 0.69 shares of Kraft for every share of Altria common stock held.

M&T Bank Corp. (NYSE:MTB) said trouble in its subprime residential mortgage unit will reduce its first-quarter net income to $1.50 to $1.60 a share compared to an original estimate of $1.86 per share. First-quarter profits will be cut by $7 million, or 7 cents per share, as a result of a $12 million reduction in the carrying value of M&T's socalled Alt-A mortgage portfolio held for sale.

Interpublic Group of Cos. (NYSE:IPG) said it has been informed by Johnson and Johnson of its decisiont o review media planning and buying. Interpublic is one of J&J's media agencies and one of its larger clients.

Potlatch Corp (NYSE:PCH) said it has agreed to sell its 17,0000 acre hybrid poplar tree farm in Boardma, Ore., to a private-equity tree-farm investment fund for $65 million. The deal is expected to close in the second quarter of 2007. The company said that it expects to incur an after-tax book loss of roughly $33.5 million on the sale, which will be recorded in the first quarter of the year.

Walter Industries (NYSE:WLT) was featured positively in Barron's Online. The article stated that while results and earnings may be volatile, the company's free cash, expansion plans, and dividend should keep the fire alive for shareholders.

Dendreon (NDAQ:DNDN) shares more than doubled in value by Friday's close after a FDA advisory committee concluded that the company's novel, experimental prostate cancer drug Provenge was both safe and effective. Given the results, many analysts raised their price targets for the company to around $20 per share. Meanwhile, the stock currently trades at $12.93.

Beazer Homes USA (NYSE:BZH) said on Friday that it would review two lawsuits filed against the homequilder, one of which accuses the company of using practices that allowed unqualified borrowers to get loans to buy its homes, but said it believes both were without merit.

Cephalon (NDAQ:CEPH) said on Friday that US regulators were willing to approve the company's experimental new drug Nuvigil for exxcessive sleepiness, but will require the company to carry prominent warnings of a skin-rash danger.