SEC Investor - Daily Digest

Daily Digest (9/13/07)

SECInvestor.com — Thu, 13 Sep 2007 21:30:18 GMT

AMC Entertainment (AC)
The entertainment company filed for its initial public offering today under the NYSE ticker symbol "AC", according to an EFFECT amendment to its S-1 filing with the SEC. The offering is expected to help the company raise up to $500 million.

McDonald's Corporation (MCD)
The fast food company announced that it would hike its dividend by 50% and promised to continue returning cash to shareholders, according to an 8-K filing with the SEC. The move was considered by many shareholders to be long overdue but is a step in the right direction.

Spectrum Pharma (SPPI)
The pharmaceutical company said the FDA has accepted the amendment to the NDA for ISO-Vornin, according to a press release. The company expects the FDA to decide on the approval of the injection by January 11, 2008.

Sirius Satellite Radio (SIRI)
The satellite radio company shares rallied this week on hopes that the company will finalize its merger pact with XM Radio. While there has been much speculation about a possible combination with shares in the company up over 20% this year, there is still no finalized agreement.

Dick's Sporting Goods (DKS)
The outdoor equipment retailer announced that it would issue a 2:1 stock split today, according to a press release. Shareholders are hoping this move could help lower the stock price to levels investors are more comfortable with trading.

Daily Digest for April 30, 2007

SECInvestor.com — Mon, 30 Apr 2007 22:45:02 GMT

Bankrate Inc. (RATE) added 5% to $40.37 today after the company was initiated with a buy rating at American Technology Research with a price target of $48.

Ceragon Networks Ltd. (CRNT) shares jumped over 16% after the Israeli wireless provider reported first-quarter net earnings of $2.62 million, or 9 cents per share, up from $228,000, or one cent per share, a year ago. Revenues rose to $33.9 million from $21.3 million a year ago. Analysts were expected 9 cents per share on revenues of $32.4 million.

Datawatch Corp. (DWCH) shares rallied 25% after the enterprise information management applications provider reported second-quarter earnings of $424,000, or 7 cents per share, up from $227,000, or 4 cents per share, a year ago. Revenues rose 14% to $6.1 million for the year.

Ionatron (IOTN) shares jumped 21% after the U.S. Navy posted a notification on the Federal Business Opportunities Web site about the award of a sole source contract regarding the company's Counter IED technology. Ionatron disclosed the posting of the contract which is worth about $500,000.

Sigma Designs (SIGM) shares dropped 12% after the company was downgraded to sell from neutral at American Technology Research.

Rigal Pharmaceuticals (RIGL) dropped 6.2% after the company said that it plans to sell five million shares under an existing shelf registration statement with an over-allotment option for an additional 750,000 shares to the underwriters.

Citigroup (C) management is reportedly concerned that the company could become an activist takeover target, according to a report by the Financial Times. The executives are concerned that the company may represent an attractive breakup opportunity, while many dismiss the rumors on grounds of its size.

Merrill Lynch (MER) said it would buyback $6 billion in shares.

Dominion (D) agreed to sell its Gulf of Mexico assets to Italian energy group Eni (E) for $4.8 billion.

Daily Digest for April 18, 2007

SECInvestor.com — Wed, 18 Apr 2007 04:28:49 GMT

EBay Inc. (EBAY) announced that its quarterly earnings and sales came in higher than expected by Wall Street, pushing the company's shares up nearly 3%.

Spansion (SPSN) shares dropped 20% after the chipmaker posted a wider quarterly loss and outlined a restructuring plan. The company said it would be facing weaker prices for its flash chips due to competitive pressures.

Novellus Systems Inc. (NVLS) shares dropped 2.8% after the company forecast second quarter earnings of 42 cents to 45 cents per share.

E-Trade Financial Corp. (ETFC) cut its 2007 forecast due to a reduction in customer trading amid market volatility. The company forecast FY2007 earnings of $1.55 to $1.75 compared to analyst estimates of $1.62 to $1.78 per share.

Gilead Sciences Inc. (GILD) shares moved marginally higher after the company announced first-quarter results that surpassed analysts' expectations. The company also backed its 2007 product revenue and earnings forecast.

Avici Systems Inc. (AVCI) shares fell 27% after the company said it was transitioning away from core router development to focus on its new product iniative. The company also said that it swung to a quarterly profit and declared a special cash dividend of $2 per share.

Yahoo Inc. (YHOO) shares dropped 11.8% on triple the normal volume after the company's profits dropped 11% on higher operating costs as it spent more to compete with Google. The results disappointed analysts and investors who expected better profit and sales figures in light of a new upgraded ad feature known as Panama.

ASML Holding (ASML) shares moved up 5% after the company said first-quarter profit nearly doubled as it shipped more machines used to make chips for mobile phones and iPods.

Carrington Laboratories (CARN) shares rose almost 8% today after the company announced supply and patent license agreements for at least 10 years with Primus Pharmaceuticals Inc.

Avanir Pharmaceuticals (AVNR) shares rose over 300% after the company announced positive top-line results from its Phase III clinical trial evaluating the investigational drug Zenvia in diabetic neuropathic pain.

Daily Digest for April 18, 2007

SECInvestor.com — Tue, 17 Apr 2007 05:10:19 GMT

BCE Inc. (BCE) rose 6.3% after the company said it entered into talks with three major institutional investors and a large private-equity firm about a potential buyout.

Black & Decker Corp (BDK) shares moved up 4.4% after the company raised its first quarter profit target amist strong international demand for power tools and other accessories.

Commerce Group (CGI) shares added 8.7% after the company was assigned to the S&P MidCap 400 index, replacing Adesa Inc.

East West Bancorp (EWBC) moved up 11% after the company reported first quarter earnings of 68 cents per share, up a year ago from 55 cents per share. The company also raised its guidance from $2.52 to $2.60 for the FY2007.

InsWeb Corp (INSW) shares more than doubled today after the company reported net earnings of 10 cents per share, compared with a net loss of 41 cents per share a year ago.

Lithia Motors (LAD) shares rose 7.2% after the company was selected to joing the S&P SmallCap 600 Index, replacing MapInfo Corp.

Nanogen (NGEN) shares rose 4.9% after the company submitted a 510(k) application to the FDA for its cystic fibrosis kit and NanChip 400 microarray system.

Telik (TELK) shares rose 9.2% after the company announced results from a Phase II clinical trial of the combination of Telcyta, carboplatin and paclitaxel in the first-line treatment of advanced non-small cell lung cancer.

Fair Isaac Corp (FIC) shaers lost 8.6% after the company cut its fiscal second quarter and 2007 forecasts.

Daily Digest for April 13, 2007

SECInvestor.com — Fri, 13 Apr 2007 06:45:49 GMT

Google Inc. (NDAQ:GOOG) announced Friday that it has agreed to buy online-advertising company DoubleClick Inc. for $3.1 billion in cash, capping takeover talks that reportedly featured interest from other companies including Microsoft. The acquisition will help Google boost its efforts to sell more graphics-based display ads - a market pioneered by the venture-funded DoubleClick.

Merck & Co. (NYSE:MRK) shares jumped on Friday after a greatly improved 2007 earnings forecast hit the markets as well as the dismissal of a class-action lawsuit filed by shareholders over its handling of the recalled Vioxx. There were also rumors that a Texas judge is poised to throw out a key Vioxx case, which could derail another 1,000 Vioxx cases filed in Texas courts.

eBay Inc. (NDAQ:EBAY) is expected to report higher sales and a surge in profit on Wednesday, fueled by growth in its PayPal division and improving selling prices of items sold on its website. Sales are projected to climb 22% to $1.7 billion while profits are expected to come in at 30 cents per share - the higher end of eBay's guidance.

McDonald's Corp. (NYSE:MCD) shares added 2.2% after the company said it expects earnings of 62 cents for Q1, including a one cent gain from foreign currency translation. This tops analyst estimates of 57 cents.

Apple, Inc. (NDAQ:AAPL) shares fell over 2% after the comany said it would delay the release of Leapard, the next upgrade of its Mac operating system, until October.

Comverge (NDAQ:COMV) shares jumped over 16% on their first day of trading on the Nasdaq. The maker of software and related technology is tapping into the so-called "Cleantech" sector aimed at reducing the world's carbon footprint by making electricity transmission grids smarter.

General Electric Co. (NYSE:GE) rose 0.6% after the company's first quarter results came in line with analysts' expectations, while it also reaffirmed its earnings guidance for 2007.

Sirius Satellite Radio Inc. (NDAQ:SIRI) and XM Satellite Radio Holdings Inc. (NDAQ:XMSR) advanced slightly after the Justice Department said it had requested more information on their planned merger.

Daily Digest for April 12, 2007

SECInvestor.com — Wed, 11 Apr 2007 06:34:54 GMT

NovaStar (NYSE:NFI) announced that it hired Deutsche Bank to help it explore strategic alternatives including a possible sale or other "change of control transaction". The move will make it the latest subprime mortgage specialist to propose relinquishing its independence.

Research in Motion Ltd. (NDAQ:RIMM) said that its fiscal fourth quarter profits surged tenfold from a year ago, when it had a large legal expense, as sales rose 66% on higher demand for the company's BlackBerry wireless devices.

Google Inc. (NDAQ:GOOG) plans to join the battle to deploy voice-based search technology according to a media report on Wednesday. Google released a free experimental service last week called Google Voice Local Search, which allowed users to dial a number and search for businesses in specific cities via voice recognition.

Advanced Magnetics Inc. (NDAQ:AMAG) said its Phase III studies on ferumoxytol, an intravenous iron replacement, met their primary and secondary endpoints. The Cambridge, Mass.-based company said the two studies demonstrate a significant improvement in hemoglobin levels for non-dialysis dependent patients using the drug, compared with oral iron supplements.

CheckFree Corp. (NDAQ:CKFR) confirmed that it has had discussions with an unnamed "large customer" over the possibility of the customer "pursuing an in-house approach" for some of Checkfree's services. Atlanta-based Checkfree added that "there have been no changes to any material customer contracts." Earlier Wednesday, JMP Securities analyst David Scharf said he was fairly certain that Bank of America is planning to transition the payment warehouse portion of its online bill-pay processing to an in-house solution. Scharf said he believed BofA's business accounted for $170 million, or 20% of CheckFree's fiscal 2006 revenue, with bill-pay services accounting for $150 million.

Christopher & Banks Corp.'s (NYSE:CBK) fiscal fourth-quarter net income plunged to $1.93 million, or 5 cents a share, from $6.68 million, or 18 cents a share, a year earlier. The Minneapolis-based women's retailer said net sales for the 14-week quarter ended March 3 increased 5.8% to $134 million, compared with $126.6 million in the 13-week period a year ago. Christopher & Banks expects a first-quarter net income range of 30 cents to 31 cents a share.

Dot Hill Systems Corp. (NDAQ:HILL) said it now expects a first-quarter loss of 13 cents to 15 cents a share on revenue of $53 million to $54 million. The Carlsbad, Calif.-based provider of storage systems previously forecast a per-share loss of 20 cents to 23 cents a share on revenue of $46 million to $49 million. Dot Hill said the increased forecast is largely due to higher-than-expected revenue and margin contribution from its largest OEM customer.

Daily Digest for April 9, 2007

SECInvestor.com — Mon, 09 Apr 2007 00:59:14 GMT

Dell Inc. (NDAQ:DELL) said it received a Nasdaq non-compliance notice after delaying its Form 10-K filing with the SEC for the year end February 2nd. The company announced last week that it wouldn't file its annual report on time because it hasn't finished an internal investigation into its past accounting practices.

Dow Chemical Co. (NYSE:DOW) said that it still has no interest in a leveraged buyout, discounting the latest unsourced media report saying that a group of PE firms and investors were close to announcing a $50 billion buyout offer.

Marathon Oil Corp. (NYSE:MRO) said its first-quarter refining and wholesale marketing margins will be flat vs. last year, despite stronger market indicators for the refining sector in the U.S. Gulf Coast and the Midwest. In an interim earnings report, Marathon said the types of crude its refineries process are being priced at a wider premium against West Texas Intermediate crude delivered at Cushing, Okla.

Masco Corp. (NYSE:MAS) that Chairman and Chief Executive Richard Manoogian will transition from CEO to executive chairman in July. Manoogian has recommended to the board that Chief Financial Officer Timothy Wadhams become CEO in July, the Taylor, Mich.-based manufacturer of home improvement and building products. The board is expected to consider the recommendation in the next few months.

Mosaic Co. (NYSE:MOS) reported third-quarter net earnings of $42.2 million, or 10 cents a share. During the same period a year ago, the company posted a net loss of $71.6 million, or 19 cents a share. There were 440.9 million shares outstanding during the quarter compared with 383.6 million last year. The Plymouth, Minn.-based producer of concentrated phosphate and potash crop nutrients reported revenue of $1.28 billion, up 19% from $1.07 billion. The results include an after-tax gain of $21 million, or 5 cents a share, on extinguishment of debt.

New York & Co. (NYSE:NWY) signed an exclusive agreement for Inter Parfums Inc. (IPAR) to design and manufacture a line of personal care products. New York & Co. hopes the line of products will increase market penetration, and expects this project to increase items per transaction and grow sales in a high-demand category.

Northfield Laboratories Inc. (NDAQ:NFLD) reported a third-quarter net loss of $6.1 million, or 23 cents per basic share, compared with a net loss of $6.4 million, or 24 cents per basic share, during the year-ago period. As a development stage company, the Evanston, Ill.-based biotechnology company doesn't generate revenue.

99 Cents Only Stores (NYSE:NDN) late Monday said fourth-quarter same-store sales rose 2.9% from the year-ago period, as total sales rose 9.4% to $277.9 million. Retail sales for the quarter ended March 31 were $267.2 million, up 9.2%, the City of Commerce, Calif.-based company said.

Cascade Corp. (NYSE:CAE) reported fiscal fourth-quarter net income rose 24% to $10.2 million, or 80 cents a share, from $8.27 million, or 63 cents a share, a year earlier. The Fairview, Ore., manufacturer of forklift parts said revenue for the quarter ended Jan. 31 rose 9.7% to $118.9 million from $108.4 million a year ago.

Chordiant Software Inc. (NDAQ:CHRD) forecast fiscal second-quarter earnings of 11 cents to 16 cents a share on revenue of $31 million to $33 million. Analysts polled by Thomson Financial are expecting, on average, a per-share profit of 3 cents on revenue of $26.5 million.

DivX Inc. (NDAQ:DIVX) said it expects fiscal first-quarter revenue and pre-tax earnings to come in above its previous forecast. The San Diego-based company now expects revenue of $19.8 million to $20.2 million and for pre-tax earnings to be flat to up sequentially. DivX had previously forecast first-quarter revenue of $17.3 million to $19.3 million and for pre-tax earnings to be flat to slightly down when compared with the fourth quarter.

Daily Digest for April 3, 2007

SECInvestor.com — Tue, 03 Apr 2007 02:18:04 GMT

The NYSE Group Inc. (NYSE:NYX) will take its biggest step Wednesday toward becoming a truly global financial player when it closes a deal to create the first trans-Atlantic stock market. The New York Stock Exchange consummates its $11 billion takeover of Paris-based exchange operator Euronext NV at ceremonies in the U.S. and Europe. The combination into NYSE Euronext forms the world's biggest stock market, and ushers in a new era for financial markets where securities can be traded on two continents up to 12 hours a day. It will be a crowning achievement for John Thain, the former president of Goldman Sachs Group Inc. who became chief executive of the now 215-year-old NYSE in 2004.

Shares of some of the largest health insurers rose Tuesday after the government announced higher-than-expected payment increases for companies that operate private Medicare plans. The Centers for Medicare and Medicaid Services said late Monday that preliminary payments to companies that run Medicare Advantage programs will rise 3.5% for 2008. The payment boost, made to insurers for each Medicare participant they cover, is less than last year's 3.9% update, but above Wall Street estimates of a 2% to 3% increase.

Humana Inc. (NYSE:HUM), stock rose $2.11, or 3.6% to $61.16 Tuesday on the NYSE. In after-hours trading, shares rose another $0.16 to $61.32. Competitor Wellcare Health Plans Inc., which makes a quarter of its revenue from Medicare Advantage, rose $1.93, or 2.2%, to $88.77. Shares of UnitedHealth Group Inc. rose $0.88 to close at $54.61, while shares of Aetna Inc. were up $0.64 to $44.83, both on the NYSE. Shares of Coventry Health Care Inc. rose $1.10 to close at $58.04 on the NYSE.

The best monthly sales performance ever for Toyota and gains by fellow Japanese automakers Honda and Nissan helped the industry in March top last year's best month for U.S. sales despite declines by GM, Ford and DaimlerChrysler. Toyota's U.S. sales jumped nearly 12% in March compared with a year ago, boosted by record hybrid sales and strong overall car sales. The overall rise in U.S. sales came despite GM and DaimlerChrysler's sales falling about 4% each, and Ford posting a 9% drop.

Marshall & Ilsley Corp. (NYSE:MI) plans to spin off its data processing arm into a stand-alone publicly traded company in a $4.25 billion deal involving a New York private equity firm, M&I said Tuesday. Warburg Pincus, a New York City global private equity firm will invest $625 million to purchase 25% equity in Metavante Corp. M&I shareholders will own the remaining 75% of Brown Deer-based Metavante. The deal is tax-free. M&I shareholders will receive one share of M&I stock and one share of Metavante Corp. stock for every three shares of Marshall & Ilsley Corp. stock held. Shares of M&I jumped $3.97, or nearly 9% to close at $49.83, after the Wall Street Journal reported that a $4 billion spinoff was in the works Tuesday morning.

Google (NDAQ:GOOG) shares rose Tuesday after the Web search company said that it will start selling and choosing some ads broadcast to EchoStar Communications Corp.'s 13.1 million satellite TV subscribers. Google shares gained $14.07, or 3.1%, to close at $472.60 on the Nasdaq Stock Market. During the past year, the stock has traded between $360.57 and $513. Mitchell also noted that OpenTV is EchoStar's largest technology provider, and that the company also has a relationship with Google, since its founder joined Google last year as head of television technology. EchoStar shares gained $0.50 to close at $44.04 on the Nasdaq. The Rentrak Corp., which sells business intelligence software for tracking entertainment sales data, could benefit from the contract because it can give advertisers real-time measurement data that is better than conventional statistical sampling processes. The company has 42 million set-top boxes across the country. Rentrak shares gained $0.37, or 2.4%, to close at $15.82 on the Nasdaq. Additionally, shares of OpenTV Corp., which may be another beneficiary of the deal, gained $0.09 or 3.6%, to close at $2.61 on the Nasdaq. The shares have ranged from $2.27 to $4.18 over the past year. OpenTV provides software for cable and satellite television.

Pozen (NDAQ:POZN), which is developing Trexima with GlaxoSmithKline PLC, said that Trexima worked better than drugs sumatriptan or naproxen sodium when used alone. The results were also published in the Journal of the American Medical Association. Shares of Pozen rose $1.08, or 7.6%, to $15.30 in extended trading, after rising $0.24, or 2%, to finish at $14.22 on the Nasdaq Stock Market.

Daily Digest for April 2, 2007

SECInvestor.com — Mon, 02 Apr 2007 03:01:13 GMT

Credit card transaction processor First Data Corp. (NYSE:FDC) said that it is being acquired by an affiliate of private equity firm Kohlberg Kravis Roberts & Co. for about $27 billion, which would be among the richest ever private takeover offers in the U.S. The proposed deal comes amid a flurry of activity by buyout groups to take public companies private. KKR has offered $34 a share for First Data, a premium of about 26% over First Data's closing price last Friday. First Data shares rose $5.55, or 21%, to close at $32.45 Monday on the NYSE after briefly rising to a 52-week high of $32.90. It has about 754 million common shares outstanding which would be worth $25.6 billion at the offered price. In addition, the company said unvested stock options and restricted stock awards that would vest upon a takeover would add about $1.4 billion to what the buyer would pay for First Data stock, boosting the deal's value to about $27 billion.

Real estate mogul Sam Zell won the battle of the billionaires Monday, landing media conglomerate Tribune Co. (NYSE:TRB) after a down-to-the-wire bidding war. Even with the buyout's $8.2 billion price tag, the outlook for the nation's second-largest newspaper publisher remained as uncertain as it did six months ago when it began a strategic review to boost a lagging stock price. A big chunk of new debt also will be required to pay the $34 a share cash buyout. Zell is counting on repaying the debt largely through tax benefits from a new employee stock option plan that would supplement existing retirement accounts for the company's 20,000 workers. Aside from selling the Chicago Cubs baseball team and its stake in Comcast SportsNet, Zell and Tribune executives were mum about prospects for the rest of the company's assets, including 23 television stations and nine newspapers ranging in size from the Los Angeles Times and the Chicago Tribune to the Daily Press in Newport News, Va. that will remain after two papers in Connecticut are sold. The buyout will be conducted as a two-part deal, the company said. The first stage, expected to be completed in the second quarter, will involve a cash tender offer of $34 per share for 126 million shares, more than half of the outstanding Tribune shares. The remaining shares will be purchased later at the same $34 per share price. Tribune has about 240 million shares outstanding, according to a regulatory filing.

New Century Financial Corp. (OTC:NEWC), once the nation's second-largest provider of home loans to high-risk borrowers, filed for bankruptcy protection on Monday, the victim of its own financial missteps as well as pressures felt by its rival lenders. New Century immediately fired 3,200 workers, more than half of its work force, and said it intends to sell off its major assets.

Citibank, the retail banking arm of Citigroup Inc. (NYSE:C), said Monday it's starting a mobile banking service that customers can download to their cell phones. The service, Citi Mobile, will be introduced first in Southern California and should be available throughout the United States by midyear, bank executives told a news conference in New York. Citi joins other U.S. financial institutions that are rolling out wireless banking applications. New York-based Citigroup, the nation's largest financial institution, sees the new service as yet another channel for customers to use for their banking, beyond the Internet bank Citibank Online, automated teller machines and the Citi call center operations.

M&T Bank Corp’s (NYSE:MTB) stock dropped 8.5%, or $9.88, to $105.95, after it said late on Friday that problems in mortgages with limited income documentation would hurt results.

Sun Microsystems (NDAQ:SUNW) shares declined 3.5%, or $0.21, to $5.80 after Sanford C. Bernstein lowered its rating on the company's stock, saying fiscal Q3 results could be disappointing.

US phone company AT&T Inc. (NYSE:T) said it and Mexican cell phone operator America Movil were in talks to buy stakes in the company that controls Telecom Italia for about $6.4 billion. AT&T shares ended up $0.03 at $39.46.

Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) rose $2.97, or 4.6%, to $67.82, after announcing Steven J. Heyer has resigned as chief executive and a director after the company's board lost confidence in his leadership. The company also reaffirmed its first-quarter and full-year guidance.

Apple Inc. (NDAQ:AAPL) shares rose $0.74 to $93.65 after it reached an agreement with EMI Group PLC to sell the record label's songs online without copy protection software. However, the deal did not include The Beatles catalog.

Daily Digest for March 31, 2007

SECInvestor.com — Sun, 01 Apr 2007 03:30:32 GMT

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.

Daily Digest for March 29, 2007

SECInvestor.com — Thu, 29 Mar 2007 02:32:15 GMT

Crude oil prices surged above $66 a barrel Thursday, driven to a new six-month high by concerns that strained relations between Iran and the West could put oil exports in jeopardy as U.S. gasoline supplies wane and demand swells.

Dealing a significant blow to Sprint Nextel (NYSE:S), the government on Thursday awarded the largest-ever federal telecommunications contract, a 10-year deal worth up to $48 billion, to its rivals AT&T, Qwest Communications and Verizon. The three contract winners will split $525 million, but beyond that they will have to compete with each other for the business of dozens of federal agencies needing to enhance the quality and security of voice, video and data technologies, the General Services Administration announced.

Shares of Qwest (NYSE:Q) rose $0.10 to close at $8.95, near the top of its 52-week trading range of $6.12-$9.22.

Shares of AT&T (NYSE:T) advanced $0.22 to end at $39.17, also close to the top of its 52-week trading range of $24.72-$39.86.

Verizon's (NYSE:VZ) stock price added $0.34 to finish at $37.57, just off the peak of its 52-week trading range of $30.10-$38.95.

Sprint (NYSE:S) climbed $0.49 to close at $19, settling in the lower half of its 52-week trading range of $15.92-$26.89.

United States Steel Corp. (NYSE:X) plans to buy Lone Star Technologies Inc., a maker of welded pipe used in oil fields, in a $2.1 billion cash deal that will make it North America's largest producer of tubular steel. Under the terms of the deal, U.S. Steel will pay $67.50 per Lone Star share, a total of about $2.1 billion and a roughly 39% premium over Lone Star's closing share price of $48.45 on Tuesday on the NYSE. Shares of Lone Star climbed $17.56, or 36%, to close at $66.01 after rising to a 52-week high of $66.50. U.S. Steel shares rose $3.61 to close at $101.22 on the NYSE after also setting a new 52-week high of $101.59.

RF Micro Devices Inc. (NDAQ:RFMD), which makes radio frequency components, warned that weaker demand from a major customer would hurt its first-quarter results. Shares fell $0.76, or 10.8%, to $6.31.

Circuit board maker Multi-Fineline Electronix Inc. (NDAQ:MFLX) said its Q2 sales and profit could decline from the Q1. The stock fell $1.95, or 11.2%, to $15.55.

Red Hat Inc. (NYSE:RHT) posted a profit decline of 25% and failed to meet analyst expectations for revenue Thursday, compounding earlier fears that larger competitors may bully the budding Linux provider. Red Hat earned $01.5 per share in the quarter ending Feb. 28, up from $0.14 last year, matching estimates from analysts polled by Thomson Financial. For the full year, Red Hat earned $59.9 million, or $0.29 per share, compared with the $79.7 million, or $0.41 per share, it earned in the last fiscal year. In part, that was due to higher operating expenses, particularly in sales and marketing. While the company was able to add at least 10,000 new customers and saw its revenue jump 41% to $111.1 million during the Q4, it fell short of analyst predictions of $112.5 million.

Daily Digest for March 28, 2007

SECInvestor.com — Wed, 28 Mar 2007 23:35:45 GMT

The electronics retailer Circuit City (NYSE:CC) plans to lay off about 3,400 store workers and replace them with lower-paid employees. The company also plans to eliminate 130 information-technology jobs at the corporate level. Circuit City Stores Inc. had shares up $0.35 at $19.23.

Beazer Homes USA Inc. (NYSE:BHZ) is under investigation by a host of government agencies for its mortgage-lending practices as well as other financial dealings. The company said it is complying with a request for documents from a federal prosecutor. The company’s shares were down $2.64 to close at $28.77.

Archer Daniels Midland Co. (NYSE:ADM), a producer of corn-based ethanol and corn syrup for foods, saw its shares up $0.91 at $36.84. The company is expected to benefit should corn prices fall amid an expected bump in supply.

Vyyo Inc. (NDAQ:VYYO), the maker of communications equipment, received $35 million in funding from Goldman Sachs & Co. Shares rose $0.97 to end at $8.44.

Syntax-Brillian Corp.’s (NDAQ:BRLC) shares rose $0.48 to $8.41. The maker of high-definition televisions sold 2.1 million shares for $15.5 million in a private transaction with two affiliates. The company plans to use proceeds in part to expand its manufacturing base and to market its Olevia brand televisions worldwide.

AtheroGenics Inc. (NDAQ:AGIX) had a decline in its shares, down $0.44 at $2.80. Analysts predict AstraZeneca PLC will end a partnership with the drug developer.

American Depositary Shares of eTelecare Global Solutions Inc. climbed Wednesday in their trading debut on the Nasdaq Stock Market. Shares of the Philippines-based outsourcing company rose $1.63, or 12%, to close Wednesday at $15.13. The IPO offering was priced at $13.50 per ADS for the 5.5 million of U.S.-traded shares. The IPO price was at the midpoint of the expected price range of $12.50 per ADS to $14.50 per ADS.

Programmable chip maker Altera (NDAQ:ALTR) lost $0.89, or 4.3%, to $20.05 after a Bear Stearns analyst lowered his 2007 earnings estimates for the company, partly based on weak business in Asia Network Appliance, a provider of network-attached storage systems, shed $1.60, or 4.2%, to $36.42.

Video game publisher Activision Inc. (NDAQ:ATVI) rose $0.88, or 4.9%, to $19.01 on the heels of a solid Q4 and full-year report from No. 1 game retailer GameStop Inc. Activision hit a 52-week high of $19.19 during the session.

Daily Digest for March 27, 2007

SECInvestor.com — Tue, 27 Mar 2007 01:25:16 GMT

Lennar Corp. (NYSE:LEN) found themselves with a 73% plunge in their Q1 earnings, following the trends of a slumping housing market. The company predicts that it is going to fall short of 2007 earnings goals. Since the start of February, homebuilders KB Homes, Hovanian Enterprises Inc. and Toll Brothers Inc. all reported falling profits. Miami-based Lennar reported that net income for the quarter ended Feb. 28 fell to $68.6 million, or $0.43 per share, from $258.1 million, or $1.58 per share, a year earlier. The results were in line with expectations of analysts. Revenue declined 14% to $2.79 billion from $3.24 billion a year ago, topping Wall Street's estimate of $2.49 billion.

Delta Air Lines Inc. (OTC:DARLQ) expects to emerge from bankruptcy protection April 30 with an eye on improving customer service and selling more assets to build shareholder value, it said Tuesday, raising the possibility it could shed feeder carrier Comair. Delta is projecting a pretax profit, excluding special and reorganization items, of $816 million in 2007. Delta is forecasting a narrower loss of $25 million to $50 million in the first quarter, which ends Saturday. He said Delta expects to get a positive vote of creditors on the airline's reorganization plan, which he said should be approved by the bankruptcy court after a hearing April 25.

Amylin Pharmaceuticals Inc. (NDAQ:AMLN) shares jumped off of a negative Wall Street outlook for possible future competitor ConjuChem Biotechnologies Inc. That company's diabetes drug candidate PC-DAC was not more effective than Amylin and partner Eli Lilly's Byetta in a recent study. Amylin shares gained $1.75, or 4.8%, to close at $38.27 on heavy trading volume. The stock has traded between $35.55 and $51.54 over the last 52 weeks.

Shares of GTX Inc. (NDAQ:GTXI) fell $1.12, or 5.4%, to $19.78, having traded between $7.70 and $23.40 over the last 52 weeks. Shares of Altus Pharmaceuticals Inc. shed $0.68, or 4.4%, to close at $14.94, having traded between $10.75 and $23.59 over the last year.

Three San Antonio area oil refiners won contracts with the Department of Defense totaling $339 million. Refinery Associates of Texas is a petroleum products trading company based in New Braunfels. The company has won a $172 million contract to supply the government with naval distillate from a refinery in Pasadena, Texas. The Defense Energy Support Center in Fort Belvoir, Va., is managing all the supply contracts, which will not expire until April 30, 2008. AGE Refining in San Antonio won a $92 million contract to supply the military with jet fuel. Tesoro Refining and Marketing Co., a subsidiary of Tesoro Corp., also won a $75 million contract for jet fuel. Tesoro will supply the government with jet fuel from its refinery in Mandan, N.D. A week ago, a Valero Energy Corp. subsidiary won a separate $499 million fuel contract from the government.

The U.S. Navy on Tuesday awarded an $8.9 million delivery order to General Electric Co. (NYSE:GE) for work on H-53 helicopter engines. Shares of General Electric fell $0.21 to close at $35.79 on the NYSE.

Shares of FuelCell Energy Inc. (NDAQ:FCEL) surged Tuesday after the company announced a lucrative deal to supply fuel cell power products to Connecticut. The deal is valued at $200 million, if all projects are approved. Shares of FuelCell surged $1.40, or 19.4%, to $8.60 on the Nasdaq Stock Market in midday trading. The stock spent most of 2006 in decline since hitting a 52-week high of $15 in April. However, shares have climbed 12% so far in 2007.

Citigroup Inc NYSEC Expects To Have Comp

SECInvestor.com — Mon, 26 Mar 2007 03:24:01 GMT

Citigroup Inc. (NYSE:C) expects to have completed its corporate cost review by mid-April, company officials said Monday, as published reports suggested the nation's largest bank was considering cutting about 15,000 jobs. It is said that the cuts could result in a charge of more than $1 billion against earnings. Citigroup shares fell $0.18 to close at $51.54 on the NYSE.

Oil prices settled Monday at their highest level so far this year on tensions between Iran and the West following Tehran's detention of British naval personnel. Gasoline futures prices climbed above $2 a gallon to their highest level since last September as a new driving season nears. On the New York Mercantile Exchange, light, sweet crude for May delivery rose $0.63 to settle at $62.91 a barrel, the highest settlement for the front-month contract since Dec. 20. Earlier, the contract rose as high as $63.30 a barrel.

Northwest Airlines (OTC:NWACQ) can begin seeking creditor approval of a plan to exit bankruptcy that values the company at an estimated $7 billion, a judge ruled Monday. The decision puts the airline in the last stages of bankruptcy before it can emerge from court protection. Eagan, Minn.-based Northwest Airlines Corp. wants to cancel all existing shares in the company and issue 272 million new ones, with a stock offering to sell 27.78 million shares at $27 a piece.

Robust prescription drug sales helped drugstore chain Walgreen Co. (NYSE:WAG) earnings increase nearly 25% in the Q2. The nation's biggest drugstore chain by revenue earned $651.9 million, or $0.65 per share, for the three months ended Feb. 28. That's up from $523.5 million, or $0.51 per share, during the same period last year.

Upscale jewelry retailer Tiffany & Co. (NYSE:TIF) on Monday said Q4 net income was nearly flat, weighed by an impairment charge, flat sales in Japan and higher cost of metals. Earnings for the quarter ended Jan. 31 were nearly unchanged at $140.5 million, or $1.02 per share, from $140.3 million, or $0.97 per share, during the same period last year. Revenue grew 15% to $986.4 million from $858.4 million in the year-ago quarter. Analysts expected net income of $1.05 per share on revenue of $979.1 million.

Dell (NDAQ:DELL) shares rose 3.5%, or $0.79, to $23.62 on the Nasdaq after Goldman Sachs upgraded the computer maker's stock to "buy" from "neutral" amid calls on Wall Street for the company to cut jobs and improve profit margins.

Internet auctioneer eBay Inc. (NDAQ:EBAY) stock rose 4.4%, or $1.39, to $33.22 on the Nasdaq.

3M Company (NYSE:MMM) shares were the biggest drag on the Dow on Monday, down 0.76%, or $0.59, at $77.38 on the NYSE.

Microsoft Corp. (NDAQ:MSFT) said Monday it sold 20 million consumer copies of the new Windows Vista operating system worldwide in February, but analysts said the data shed little light on the program's popularity during its first month on the market. The analyst said 51 million PCs were sold to consumers worldwide in 2002; this year, the research group predicts 96 million consumers will buy a computer. Shares of Microsoft rose $0.20 to close at $28.22 on the Nasdaq.

Officials of Safeway Inc. are reportedly interested in buying additional stores. Safeway officials, along with officials from other nationwide supermarket giants like The Kroger Co. of Cincinnati and SuperValu Inc. of Edina, Minn., are said to have expressed an interest in buying stores operated by Roundy's Supermarket Inc., a Milwaukee-based company that owns and operates 155 retail grocery stores in Wisconsin, Minnesota and Illinois under the Pick 'n Save, Copps Food Center, and Rainbow Foods banners. It had sales of nearly $4 billion during fiscal 2006 and employs 22,000 workers. Pleasanton-based Safeway had fiscal 2006 sales of $38.4 billion and currently operates 1,761 supermarkets throughout the United States and Canada. That includes the Dominick's chain in the Chicago area, just to the south of Milwaukee, which Safeway purchased in 1998, and then tried unsuccessfully to sell off several years later when Dominick's was struggling in the nation's third-largest metropolitan area.

Raytheon Co. (NYSE:RTN), the world's fifth-largest defense company, closed on the sale of its aircraft operations Monday to Hawker Beechcraft Inc., with the new owners planning to bolster its international sales and service, the company said. The $3.3 billion dollar sale of Wichita-based Raytheon Aircraft to Hawker Beechcraft was first announced in December.

Redhook Ale Brewery Inc. (NYSE:HOOK) rose $0.10 to $7.52 in extended session trading after closing at $7.42 earlier on the Nasdaq.

First Solar Inc. (NDAQ:FSLR) added $0.99, or 2%, to $58 in the late session after a Banc of America analyst began coverage of the solar cell maker with a "Buy" rating in a client note released after the closing bell.

Vonage Holdings Corp. (NYSE:VG) said Monday the market had overreacted to a federal judge's decision that would bar the Internet telephone company from using technology covered by Verizon Communications Inc.'s patents. New York Stock Exchange-listed Vonage shares shed $1.05, or 26%, Friday to close at $3. On Monday, the shares rose $0.38, or 13%. The shares were first sold to the public in May for $17 each.

Daily Digest for March 22, 2007

SECInvestor.com — Thu, 22 Mar 2007 04:09:37 GMT

Private equity giant Blackstone Group filed for a $4 billion IPO that would put a provide the company with new sources of permanent capital. While the firm hasn't yet disclosed ow many shares will become available or provide an estimated price range, they did say that public shareholders would have limited voting rights and will not elect the general partner or its directors. The hedge fund would be the second hedge fund ever to go through with an initial public offering.

Avery Dennison Corp (AVY) signed a definitive merger agreementw tith label and tag company Paxar Corp (PXR) for $30.50 per share in a transaction worth about $1.34 billion.

Bed Bath & Beyond Inc. (BBBY) acquired the privately held retailer buybuy BABY for about $67 million, net cash acquired, and repayment of debt of about $19 million. The company said that the acquisition allows it to provide merchandise to expectant parents and their friends, who are part of its current consumer base.

Activision Inc. (ATVI) said it has signed a multi-year agreement granting the company exclusive worldwide rights to develop and distribute video games on all platforms based on Live Nation's (LYV) Monster Jam Series. While financial terms of the deal were not disclosed, the first game in the series is expected to be available at retail stores this holiday season.

Capital City Bank Group Inc. (CCBG) said it has approved an additional buyback of up to 1 million shares.

IHS Inc. (IHS) said an existing shareholder has begun a secordary offering of 3.75 million shares; however, the company said it would not receive any proceeds from the offering.

Sauer-Danfoss Inc. (SHS) said it would be raising its quarterly dividend by 13% to 18 cents a share. The new dividend is payable to shareholders on record by April 2nd.

Pozen Inc. (POZN) said its amended reponse to an approvable letter for its migraine treatment Trexima has been accepted for review by the FDA. Pozen also said that the FDA notified the company that it expects a Class II review, which could result in a new deciison date of August 1, 2007. If approved, the drug could be available as soon as the second half of 2007.

Daily Digest for March 21, 2007

SECInvestor.com — Wed, 21 Mar 2007 05:38:56 GMT

Acme Communications Inc. (ACME) reported a fourth-quarter net loss of $1.63 million, or 10 cents a share, compared with $5.64 million, or 13 cents a share, one year-ago period. The company expects first quarter 2007 revenue for its continuing television stations to decrease in the low single digits quarter over quarter.

Affiliated Computer Services (ACS) confirmed it has received a $59.25 per share offer from Chairman Darwin Deason and Cerberus Capital Management L.P. to take the company private. The deal would be worth over $8 billion, including the assumption of ACS debt. The company said that a special committee of independent directors has been formed to evaluate strategic alternatives, including the proposal from Deason and Cerberus, and will reach a decision in due course.

Chubb Corp.'s (CB) board increased the share buyback program by 20 million shares. The company said the purchases may be made in the open market or in privately negotiated transactions.

The Job Network LLC, owned by Lee Enterprises (LEE), entered into a strategic partnership with Yahoo Inc.'s (YHOO) HotJobs unit. Financial terms weren't disclosed, but the partnership will allow the Job Network's members to post employment ads on the HotJobs website.

Ligand Pharmaceuticals Inc. (LGND) said that it plans to pay a dividend of approximately $253 million, or $2.50 a share, on April 19 to shareholders of record April 5. Ligand's board also authorized up to $100 million in share repurchases over the next 12 months.

Wells Fargo & Co. (WFC) said it has authorized a stock buyback of up to 75 million shares of its roughly 3.4 billion shares outstanding. Wells Fargo shares rose 2.5% to close at $35.48 on the news.

eBay Inc. (EBAY) shares added 2.1% today after its PayPal unit said it has 35 million accounts in Europe. According to analysts at Forrester Research, nearly a quarter of all European online shoppers use PayPal.

Google Inc. (GOOG) shares gained 2.5% after the company said a small number of advertisers are now testing out a new payment scheme it's calling "pay-per-action." The new model would allow advertisers to only pay publishers if the visitors completed an action - such as fill out a form or request promotional materials.

Daily Digest for March 20, 2007

SECInvestor.com — Tue, 20 Mar 2007 02:09:26 GMT

Business software maker Oracle Corp. (NDAQ:ORCL) posted quarterly profit and revenue on Tuesday that topped Wall Street forecasts as new software license sales rose. Oracle's fiscal Q3 net profit rose to $1.03 billion, or $0.20 per share, from $765 million, or $0.14 per share, a year ago. Revenue rose to $4.4 billion from $3.47 billion as Oracle sold more software that helps companies manage everything from accounting to human resources to inventory management. New license revenue rose to $1.39 billion from $1.1 billion in the Q3 ended February 28. Sales of new software applications, including acquisitions, rose 57% while new database and middleware software license sales increased 17%. Oracle shares rose more than 4% to $18.28 in extended trade from a Nasdaq close of $17.55.

The chairman and chief executive of struggling movie-rental company Blockbuster Inc. (NYSE:BBI) got the company's board to give him a slightly bigger bonus for 2006, but not without agreeing to give up his job. John Antioco, who has been the CEO for nearly a decade, will leave the company by the end of the year, Blockbuster announced Tuesday. Shares closed down $0.25, or 3.5%, to $6.86 in trading on the NYSE, then lost another $0.06 in after-hours trading. When he leaves, Antioco will recieve a lump sum payment of $5 million, considerably less than the $13.5 million he would have been entitled to receive if he had been terminated without cause or had resigned for good reason at year's end.

An investment group that includes the founder and chairman of Affiliated Computer Services (NYSE:ACS) is offering $5.93 billion in cash to take the information technology services company private. Affiliated Computer Services Inc. Chairman Darwin Deason said Tuesday he has teamed with investment partner Cerberus Capital Management to make the $59.25 per share bid. That represents a 15.5% premium to ACS's closing price Monday of $51.29 on the NYSE. ACS shares rose above the offered price Tuesday, climbing $8.69, or 17%, to close at $59.98 on the NYSE. They have traded in a 52-week range of $46.50 to $63.61.

Adobe Systems Inc. (NDAQ:ADBE) reported flat Q1 sales but easily exceeded Wall Street expectations with a 37% surge in profit, prompting bullish executives to raise guidance Tuesday as the software company prepares its biggest-ever product launch. Net income for the three months ended March 2 was $143.9 million, or $0.24 a share, up from $105.1 million, or $0.17 a share, in the same quarter of last year. Adobe said it expects to earn $0.23 to $0.26 per share on revenue of $700 million to $740 million in the second quarter. The San Jose-based company, which employs 6,100 people and makes graphic design, publishing and imaging software, reaffirmed its annual revenue growth target of 15%.

The printing for the final Harry Potter book will not only be the biggest, but also the greenest. Scholastic Inc. (NDAQ:SCHL) announced Tuesday that it had agreed with the Rainforest Alliance, a conservation organization that works with the business community, on tightened environmental standards for "Harry Potter and the Deathly Hallows," coming out July 21 with a first printing of 12 million.The paper used to write the 784-page book will contain a minimum of 30% post-consumer waste (pcw) fiber. A "deluxe" edition of the new book, which has a first printing of 100,000, will be printed on paper that contains 100% post-consumer waste fiber. Scholastic would not say at the time how much recycled paper it used, but said it did not use paper from ancient or endangered forests on the other HP books. Sales, apparently, were not affected: "Half-Blood Prince" sold 6.9 million copies in the first 24 hours.

Capital One Financial Corp. (NYSE:COF) Chairman and Chief Executive Richard Fairbank received compensation the company valued at more than $18.1 million in 2006, almost all of it in options awards and roughly the same amount as the past two years, according to a regulatory filing made Tuesday. Fairbank, 56, received options awards with an estimated value of $18 million at the time they were granted, but did not receive a salary, a bonus or any other cash and equity-based incentives. In November 2005, Capital One bought New Orleans-based Hibernia Corp., which had branches in Texas and Louisiana, for $4.9 billion. In December, the company completed its $13.2 billion acquisition of North Fork, which operates banks in New York, New Jersey and Connecticut. The deals, which make Capital One the 11th-largest bank in the U.S. by deposits, drew mixed responses from Wall Street. The stock was flat for the first half of 2006, then plunged in the summer because of credit concerns, especially in the United Kingdom. Shares in Capital One closed up 57 cents, or 0.75 percent, at $76.21 on the NYSE. In the past year, the company's shares have traded in a range of $69.30 to $87.50.

Wal-Mart Stores Inc. (NYSE:WMT) claims that with "plenty of room" to grow in Canada, it is on track to open 29 discount and supercenter stores in the country this year.

Claire's Stores (NYSE:CLE) became the latest US retailer to go private as it accepted a $3.1 billion takeover from Apollo Management, the US buy-out group run by Leon Black. The deal caps an auction for the Florida-based jewellery and female accessories store chain that lasted about three months and included Apax Partners, the British private equity group, in the final round. Private equity groups have found fertile ground for investments in all corners US retailing, from luxury department stores to discount chains and specialty stores.

Daily Digest for March 19, 2007

SECInvestor.com — Mon, 19 Mar 2007 02:14:54 GMT

Rambus (RMBS) shares rose 5.5% today after the company announced that the Federal Trade Commission (FTC) clarified that the company isn't restricted from collecting royalties for the use of some of its technologies in the past. The FTC also noted that Rambus isn't required to refund royalties already paid.

Egl Inc. (EAGL) shares moved up 1.7% after the shipping company accepted a $1.7 billion buyout offer. The company's CEO is leading the investor group planning to take the company private.

Systemax (SYX) shares dropped over 20% after hours today when the company announced that its operating income fell to $11.3 million from $18.5 million a year ago, mostly due to decreased gross margins in its discounted computers and consumer electronics products. The margins fell to 12.9% from 14.7% one year ago.

Cosi (COSI) shares fell 1.6% today after the company reported fourth-quarter sales of $31.8 million, up from $28.6 million a year ago, but below the $34 million analyst consensus. Meanwhile, their quarterly losses narrowed to 12 cents a share from 16 cents a share a year ago.

Agile Software (AGIL) dropped around 3% after hours after the company's fiscal third-quarter sales came in slightly below expectations at $33.2 million. meanwhile, its net loss for the period increased to $5.87 million or 10 cents a share.

Nortel (NT) shares lost 2.4% after the company announced lower estimates for its annual and quarterly results. the company said it expects FY2007 revenues to be flat to slightly down compared with 2007. The loss comes from a decrease in revenues from its sale of its third-generation UMTS radio-access business to Alcatel-Lucent.

Altria Group (MO) ended down slightly after a federal appeals court judge said Friday that a previous court ruling that banned "implied health messages" applied to the company's international businesses as well as its domestic operations. The courts ruled that the company couldn't sell brands that were marketed using health messages such as light or low tar in the USA.

Walt Disney (DIS) shares rose on news that the company finished a probe into stock option practices at Pixar that began prior to its acquisition by Disney. The probe found that while options were backdated, no one currently associated with the company engaged in any intentional or deliberate acts of misconduct.

Aeropostale (ARO) shares rose today after the cmopany said net earnings were $57.3 million while same store sales rose 2.2%.

Accredited Home Lenders (LEND) shares continued their volatility today after surging 56% during the regular session before dropping 10.4% after hours. The subprime mortgage lender said that it has received margin calls from its financial backers and was looking to raise capital to enhance liquidity.

Daily Digest March 15, 2007

SECInvestor.com — Thu, 15 Mar 2007 04:22:24 GMT

Cisco Systems (NDAQ:CSCO) said it will buy online videoconferencing company WebEx Communications for $2.9 billion as part of a strategy to sell comprehensive packages of communication products. The deal, worth $3.2 billion including WebEx's existing cash, would be Cisco's biggest acquisition since the network equipment maker bought cable set-top box maker Scientific-Atlanta for $7 billion last year. Cisco said on Thursday it will launch a cash tender offer for all outstanding WebEx shares at $57 each, a premium of 23% over their Nasdaq close of $46.20 on Wednesday.

A General Electric (NYSE:GE) unit and private equity firm Blackstone Group will jointly acquire mortgage and vehicle fleet management company PHH for $1.8 billion in cash, the companies announced Thursday. The $31.50-per-share purchase price is about a 13% premium to PHH's closing stock price of $27.81 on Wednesday. PHH shares jumped in trading on the NYSE. GE is paying sixteen times expected 2007 earnings of $1.95 per share, according to Reuters Estimates, which is based on one analyst's estimate.

Ameriprise Financial (NYSE:AMP) said on it plans to buy back as much as $1 billion in stock and increased its quarterly dividend to $0.15 to $0.11 per share.

The 159-year-old Chicago Board of Trade (NYSE:CBOT) found itself the target of a possible bidding war Thursday when electronic futures market IntercontinentalExchange Inc. made a surprise $9.9 billion all-stock bid, threatening its deal to merge with the crosstown Merc.Shares of CBOT jumped $28.86, or 17.4%, to close at $194.95 on the NYSE. ICE fell $3.83, or 2.9%, to $128.10, while CME shed $31.09, or 5.5%, to $532.88.

Bear Stearns Cos. (NYSE:BSC), Wall Street's largest underwriter of mortgage securities, reported Q1 rose 8%, despite turmoil in the subprime lending sector. Its profit after paying preferred dividends rose to $548.5 million, or $3.82 per share, for the three months ended Feb. 28 from $508.7 million, or $3.54 per share, a year earlier. Revenue rose to $2.48 billion from $2.19 billion last year.

Daily Digest for March 14, 2007

SECInvestor.com — Wed, 14 Mar 2007 05:18:19 GMT

General Motors Corp. (NYSE:GM) fell 0.9%, even after the company returned to profitability in the fourth quarter, when it said that it is refunding $1 billion to its financing unit GMAC after selling 51% of the lending unit due to losses at its residential mortgage business.

Citigroup (NYSE:C) rose 0.7% after one of its executives said the bank won't lift its offer for Nikko Cordial any further. This is good news for investors after the company had already hiked its bid by 26% to $13.4 billion on Tuesday.

Google (NDAQ:GOOG) fell briefly today after Viacom (NYSE:VIA) filed a $1 billion lawsuit alleging that its YouTube unit used more than 160,000 of its videos without permission. Despite its prior successes, Viacom will likely face strong opposition by the well capitalized darling of Wall Street.

Accredited Home Lenders (NYSE:LEND) shares dropped over 65% after it said it is seeking more capital and exploring strategic options after paying about $190 million in margin calls since January 1st. This is the latest subprime lender that has been experiencing issues with the drastic increases in defaults.

New Century Financial (NYSE:NEW) shares were suspended today after the NYSE officially delisted their stock after shares fell by more than 50%. The company said that its obligations to Credit Suisse First Boston Mortgage Capital were $1.4 billion, up from the prior estimate of $900 million.

Boeing Co. (NYSE:BA) shares rose 1.9% after Continental Airlines increased a previous order of 20 Boeing 787 jets to 25.

Schering-Plough Corp. (NYSE:SGP) agreed to purchase Organon biosciences for $14.4 billion in cash from Holland's Akzo Nobel, which previously planned to sell part of the unit through an IPO.

Dollar General Corp. (NYSE:DG) jumped 25% after it agreed to be acquired by affiliates of buyout firm KKR in a transaction worth $7.3 billion.

Daily Digest for March 13, 2007

SECInvestor.com — Tue, 13 Mar 2007 06:14:12 GMT

U.S. health regulators have approved GlaxoSmithKline's (NYSE:GSK) pill, Tykerb, for patients with advanced breast cancer after other treatments have failed, the company said on Tuesday. Glaxo shares recovered earlier losses after the late afternoon news and closed down $0.75 at $55.25 on the NYSE.

Qualcomm (NDAQ:QCOM) raised its forecast for fiscal Q2 earnings and revenue, citing stronger-than-expected worldwide demand for products based on its CDMA mobile phone technology. Shares rose 3% on the news, which followed an update from bigger rival Texas Instruments the night before. TI narrowed its forecast range for the quarter but kept the midpoint steady. Wireless chip and technology license supplier Qualcomm forecast quarterly earnings of $0.48 to $0.49 a shar, compared with its previous estimate of $0.42 to $0.44 a share. It raised its revenue outlook for the quarter ending April 1 to $2.1 billion to $2.2 billion, up from its previous estimate of $2 billion to $2.1 billion.

Billionaire investor Carl Icahn said on Tuesday that he would launch a tender offer for home builder WCI Communities (NYSE:WCI) in which he has about a 14.6% stake, at $22 per share. He said he would ensure the assets are properly managed through the current housing industry downturn. Icahn has agitated for change at many companies and is currently also seeking board seats at Motorola and Temple-Inland. Shares of WCI soared nearly 15%.

Real estate investment trust Spirit Finance (NYSE:SFC) said has accepted a takeover bid from a consortium led by Macquarie Bank for approximately $1.6 billion in cash, or $14.50 per share. The purchase price represents an 11% premium over Spirit's closing price of $13.05 on the NYSE Monday and a 15% premium over its 90-day average closing price. Including about $1.9 billion in assumed debt, the deal is valued at $3.5 billion. In addition, the consortium agreed to buy about 6.15 million shares of Spirit common stock at $12.99 each, or $79.9 million. Spirit will use proceeds from the private placement to fund real estate-related activities.

Goldman Sachs Group Inc. (NYSE:GS), the largest Wall Street investment house, on said its Q1 profit rose 29% to a company record on robust trading gains and investment banking fees. New York-based Goldman reported earnings applicable to common shareholders rose to $3.15 billion, or $6.67 per share, for the quarter ended Feb. 23, compared to $2.45 billion, or $5.08 per share, in the year-ago period. Revenue rose 22% to $12.73 billion from $10.43 billion in the year-ago period. Results surpassed Wall Street projections for earnings of $4.97 per share on $10.69 billion in revenue, according to analysts polled by Thomson Financial. However, Goldman's shares fell $3.52, or 1.8%, to close at $199.08 on the NYSE, which was in line with a selloff in the broader market.

Oil prices fell Tuesday to settle under $58 a barrel, as a decline in the stock market stirred worries about the economy and demand for energy.

Daily Digest for March 12, 2007

SECInvestor.com — Mon, 12 Mar 2007 03:30:59 GMT

UnitedHealth Group (NYSE:UNH) said today that it agreed to acquire Sierra Health Services, Inc. (NYSE:SIE) for approximately $2.6 billion, giving the health insurer a larger marketshare in the quickly expanding Southwest region and boosting its senior health-care capabilities. Sierra shares rose over 15% on the news, while UnitedHealth shares moved up fractionally.

Boston Scientific Corp. (NYSE:BSX) said its Board of Directors has authorized management to explore an initial public offering of a minority stake in its endosurgery group. The medical device maker said an IPO would involve selling approximately 20% of the endosurgery group, which would remain a majority owned subsidiary.

Wireless Facilities Inc. (NDAQ:WFII) said it plans to delay its 2006 annual report as it continues to investigate possible options backdating. The company is expected to record a $9.2 million charge related to the accelerated vesting of all of its employee stock options, an $18.3 million goodwill impairment charge, and a $3.4 million asset impairment charge.

Several changes were announced to the S&P500 index. Host Hotels and Resorts (HST) will be added to the index on a date to be determined, replacing Phelps Dodge Corp. (PD), which is being acquired by Freeport-MyMoRan Copper & Gold Inc. (FCX). Also, the S&P said it would be adding Option Care Inc. (OPTN) to the SmallCap 600 index after the close of trading March 15th. This company will replace Hancock Fabrics, inc. (HKF).

Cosi Inc. (COSI) said that its Chief Executive Kevin Armstrong has resigned for health reasons. The company named Robert Merritt, one of its directors, as interim CEO, effective immediately.

Netease Com Inc. (NDAQ:NTSE) said that its Board of Directors OK'ed a new buyback program that would enable the company to repurchase up to $100 million ADRs.

Merck & Co., Inc. (NYSE:MRK) said that it plans to appeal the Humeston Vioxx verdict, where a N.J. jury awarded $20 million to plaintiffs.

Texas Instruments Incorporated (NYSE:TXN) said that its inventory correction was "winding down" while its customer inventory levels were improving. Consequently, the company expects growth to resume again in Q2.

Daily Digest for March 9, 2007

SECInvestor.com — Sat, 10 Mar 2007 02:59:48 GMT

CVS Corporation (NYSE:CVS), seeking to thwart rival suitor Express Scripts sweetened its offer on Thursday for Caremark to $54.12 a share, plus a higher, one-time dividend of $7.50 per share in cash after the deal closed. The dividend previously was $6 per share. CVS also said if the deal is closed, the combined company will make a cash tender offer of $35 a share for 150 million, or about 10%, of its outstanding shares.

Frank Stronach, CEO of Canadian auto parts giant Magna International (NYSE:MGA), confirmed that his company could be interested in taking a stake in DaimlerChrysler's Chrysler division. Stronach said it was vital that Magna be involved in a possible sale of Chrysler to protect itself and help its biggest customer, which carried the first public comments by Magna owner since Chryslers Feb 14 announcement that it would cut 16% of its employees.

Shares of Yahoo (NDAQ:YHOO) tumbled Friday amid reports that the Web portal's deal with AT&T to sell high-speed Internet access may be on shaky ground. The companies reported to be negotiating potentially sweeping changes that could scale back their partnership, according to the Wall Street Journal. The potential fraying of the alliance deals an unexpected new blow for Yahoo, which gets roughly $210 million to $290 million in subscription and advertising revenues annually from AT&T, according to Goldman Sachs analyst Anthony Noto. Yahoo shares fell $1.64 to $29.07 in early afternoon trade on Nasdaq. They had risen around 13% so far this year, prior to Friday's decline. AT&T shares firmed $0.11, or 0.3%, to $36.62 on the NYSE.

Coca-Cola (NYSE:KO) said that it is reorganizing its North American business to better reflect its strategic focus and creating three new business units for its sodas and other beverages as part of the change. In a note to employees, Coke North America President Sandy Douglas said the new operating model has been designed "to transform our business and win in the marketplace."

A second U.S. investment firm dismissed Citigroup's (NYSE:C) $10.8 billion buyout offer for Japanese brokerage Nikko Cordial as far too low, pressuring the U.S. bank to sweeten its bid. Nikko's stock rose to trade 4.4% above Citigroup's offer price after Tennessee-based Southeastern Asset Management, Nikko's third-biggest shareholder, said the brokerage was worth at least 48% more.

Strong demand for corn from ethanol plants is driving up the cost of livestock and will raise prices for beef, pork and chicken, the Agriculture Department said. Meat and poultry production will fall as producers face higher feed costs, the department said in its monthly crop report. Ethanol fuel, which is blended with gasoline, is consuming 20% of last year's corn crop and is expected to gobble up more than 25% of this year's crop. The average price of corn, unchanged from last month, is $3.20 a bushel, up from $2 last year.

Procter & Gamble Co. (NYSE:PG), maker of Tide detergent, Crest toothpaste and numerous other consumer products, reaffirmed its Q3 earnings guidance. The company expects earnings of $0.72 to $0.74 a share for the quarter ending later this month. P&G said it expects sales growth of 7% to 9% in the quarter. Shares rose $0.10 to $62.41 in morning trading on the NYSE. Shares have traded in the range of $52.75 to $66.30 in the past year.

New Century (NYSE:NEW) shares lost a quarter of their value, plunging 25%, or $1.29, to $3.87 on the NYSE. After the closing bell, the stock fell an additional 2.6 % to $3.77 in electronic composite trading.

Financial stocks moved up today: Bear Stearns (NYSE:BSC) shares added 1.8%, or $2.69, to $152.06 on the NYSE while Goldman Sachs (NYSE:GS) rose 2.2%, or $4.35, to $199.94.

Retail stocks recovered on optimistic economic news: Target (NYSE:TGT) climbed 1.8%, or $1.09, to $61.69 and J.C. Penney (NYSE:JCP) shares rose 4.1% to $80.86, both on the NYSE. Department store operator Bon-Ton Stores Inc. (NDAQ:BONT) shares shot up 15.8%, or $7.56, to $55.36 on the Nasdaq.

Steel maker Nucor Corp. (NYSE:NUE) jumped 5.3%, or $3.17, to $63.12 on a strong forecast and helped other stocks in the sector. U.S. Steel Corp. (NYSE:X) gained 3.2%, or $2.81, to $90.51.

Phone company AT&T (NYSE:T) was the top-weighted gainer in the Dow and the S&P 500 following a European bond issue and an upgrade by A.G. Edwards. AT&T shares climbed 3.1%, or $1.08, to end at $36.51 on the NYSE.

Daily Digest for March 7, 2007

SECInvestor.com — Wed, 07 Mar 2007 06:31:00 GMT

Digital video recording service provider TiVo Inc. (NDAQ:TIVO) posted a narrower Q4 loss Wednesday, beating Wall Street expectations. The Alviso-based company reported a quarterly loss of $18.7 million, or $0.19 per share, for the three months ended Jan. 31. In the same period last year, TiVo's net loss was $21.1 million, or $0.25 per share. Net revenues climbed to $77.6 million from $60.1 million a year ago.

Capitalizing on the popularity of social networks and online worlds, Sony (NYSE:SNE) will launch its own virtual universe and another 3-D game built almost entirely by players. "Home" is a real-time, networked world for the PlayStation 3 in which players create human-looking characters called avatars. They can buy clothing, furniture and videos to play on a virtual flat-screen television in their virtual apartments. Sony will launch a beta version in April and officially debut in the fall as a free download on the PlayStation online store.

Martek Biosciences Corp. (NDAQ:MATK), which makes nutritional oils to supplement baby food, said it expects a Q2 net income between $4.8 million and 5.8 million, or $0.15 to $0.18 per share. Analysts expect earnings of $0.17 per share, and revenue forecasted at $73.7 million in revenue. Martek is expecting revenue between $73 million and $74 million. As well, the company released that their Q1 profit fell 32% due to higher operating costs.

Biotechnology company OncoGenex Technologies Inc., which has been trying to launch its initial public offering in a week of stormy trading on the world's stock markets, withdrew its IPO. Plans to begin trading later in the week were not realized, and the IPO was pushed into this week. Last Thursday, the company lowered its estimated IPO price range to $7.50 to $8.50 a share, from $10 to $12 in an amended filing with the SEC. The underwriters also increased the size of the offering to 5 million shares from 4.5 million shares. OncoGenex is attempting to commercialize new cancer therapies that address treatment resistance in patients.

Athletic shoe retailer Foot Locker Inc. (NYSE:FL) said it expects its Q1 and full-year earnings to fall short of Wall Street expectations. The company is projecting quarterly earnings of $0.34 to $0.37 per share. In the year-ago quarter, Foot Locker earned $0.37 per share. Analysts expect higher earnings of $0.41 per share. For the full year, the company expects earnings of $1.55 to $1.65 per share, while analysts are looking for earnings of $1.74 per share.

Polypore, Inc. (PPO) today announced net sales of $124.9 million for the three months ended December 30, 2006, representing a 23% increase over Q4 2005.

Mamma.com Inc. (NDAQ:MAMA), a Montreal-based Internet search engine, reported a Q4 profit, reversing a year-ago loss, as the company expanded distribution and signed new clients. Net income totaled $420,175, or $0.03 per share, from a loss of $762,555, or $0.06 per share, a year ago. Q4 revenue more than doubled to $3.6 million from $1.6 million a year ago.

Express Scripts Inc. (NDAQ:ESRX) announced it has increased its bid to acquire Caremark Rx Inc., but company officials said they expect closer scrutiny from federal regulators over the proposed deal. Express Scripts' offer is to acquire all outstanding shares of Caremark for $29.25 in cash and 0.426 shares of Express Scripts stock for each share of stock in Nashville-based Caremark. The St. Louis-based pharmacy benefits manager said it will now pay additional cash consideration of nearly 6% per annum on the $29.25 cash portion of its offer.

Citigroup Inc. (NYSE:C), which earlier this week announced that it was bidding on a major Japanese brokerage, also is looking to purchase a Taiwanese bank. Citigroup, the largest bank in the United States, has agreed to pay $424 million to acquire the Bank of Overseas Chinese in Taiwan.

Discount carrier JetBlue Airways (NDAQ:JBLU) named a new chief operating officer on Wednesday, shoring up its management team just weeks after suffering a major service meltdown. Russell Chew, former chief operating officer at the U.S. Federal Aviation Administration, will assume the COO role at JetBlue on March 19. Oversight of JetBlue's daily operations was previously handled by President David Barger to whom Chew will report.

Daily Digest for March 6, 2007

SECInvestor.com — Tue, 06 Mar 2007 07:26:57 GMT

Citigroup (NYSE:C) launched a $10.75 billion takeover bid for Japanese brokerage Nikko Cordial, offering cash to the scandal-hit firm's shareholders in a deal designed to transform its business in the world's second-biggest economy. Citigroup, the largest U.S. bank but a small player in Japan outside of corporate investment banking, said it would pay a premium to Nikko's closing price on Tuesday to lift its stake in Japan's third-largest securities firm from just under 5% percent to at least 50%.

CBS (NYSE:CBS) it is buying back about 47 million shares of its Class B stock for $1.4 billion through an accelerated repurchase transaction. The cost of the repurchased shares is subject to adjustment.

U.S. box office revenue reversed a three-year slide in 2006, with sales rising 5.5% to $9.49 billion, according to an industry group. The 607 films released in 2006, which include both major motion pictures released by MPAA members and smaller, independent releases ,marked an all-time high for a single year and an 11% increase over the 549 movies that hit theaters in 2005. Globally, box offices tallied $25.8 billion in sales, up 11% from $23.3 billion in 2005. International distribution and home entertainment sales account for a significant portion of major U.S. films' revenue.

Koch Industries, the world's second-largest private company, plans to team up with private equity firm Blackstone Group to join the bidding for GE Plastics, according to sources close to the process. The auction for GE Plastics, a unit of General Electric, comes amid concern that the profitability of the unit is eroding, and that the price tag on any deal is shrinking.The four leading bidders for GE Plastics - Apollo Management, Blackstone, Carlyle Group and Kohlberg Kravis Roberts & Co. - have signed agreements promising not to team up with each other, according to two sources involved in the process. GE Plastics recorded revenue of $5 billion for the first nine months of 2006, and profit of $560 million.

Strong earnings reports from apparel retailers and an online payment processing company boosted shares in Tuesday's after-hours electronic trading session.
Chico's FAS Inc. surged $1.17, or 5.7%, to $21.59 in the extended session, after the apparel maker and retailer beat Wall Street revenue expectations with its Q4 results, despite heavily discounted merchandise. Higher expenses dragged down quarterly profit, for the Fort Myers, Fla.-based company, however.

Payless Shoesource Inc. (NYSE:PSS) climbed $1.97, or 6.2%, to $33.40 in the late session, after the discount shoe retailer said it swung to a Q4 profit.
Canadian electronic payment processing equipment maker Optimal Group Inc. rose $0.99, or 12.7%, to $8.79 in the extended session.

Avalon Pharmaceuticals Inc. (NDAQ:AVRX) shot up $1.27, or 27.4%, to $5.90 after the Germantown, Md.-based company said it is collaborating with Merck & Co. to develop inhibitors for an undisclosed target, focusing on cancer.

CV Therapeutics Inc. (NDAQ:CVRX) plunged $3.20, or 26 %, to $9.10 in the after hours session, after the biotech said its angina drug ranolazine, or Ranexa, failed to meet its goal in a late stage study.

The Topps Co. (NDAQ:TOPP), maker of baseball cards and Bazooka bubble gum, has accepted a $385.4 million takeover offer from a buyout group that includes former Disney CEO Michael Eisner. The buyout group, which includes The Tornante Co. LLC, founded by Eisner, and the Chicago-based private equity firm Madison Dearborn Partners LLC, has agreed to pay $9.75 for each Topps shares, which represents a premium of 9.4% over the stock's Monday closing pricing of $8.91 on the Nasdaq Stock Exchange. In a sign that some investors think the bidding could go higher, Topps shares rose $0.90, or 10%, to close at $9.81 on the Nasdaq Stock Market. Its shares have traded between $7.50 and $10 over the past 52 weeks.

The DJ Wilshire Pharmaceutical Index jumped 1.2% to close at 2325.03 and the DJ Wilshire Biotechnology Index rose 1.1% to close at 3013.76. Novartis AG was the big mover among the large pharmaceutical players, its stock advancing 6% to close at $56.85. Intermune Inc. shares plunged 21% to $22.15. The biotech group is discontinuing a Phase III clinical trial for its pulmonary drug candidate Actimmune due to poor interim results. Pozen Inc. shares leapt 10% to $15.70. The drug developer announced favorable results from an early-stage clinical study of its aspirin product PA 325. The drug candidate combines aspirin and a proton pump inhibitor drug to combat gastrointestinal bleeding, a known side effect of aspirin.

Shares of RadioShack Corp. (NYSE:RSH) took back a week's worth of losses, finishing up 4.2% at $25.45, a 20-month closing high.

Circuit City (NYSE:CC) shares bounced off 15-month lows to settle at $17.96, up 2.8%. Share of Best Buy Co., the nation's largest electronics retailers, added 2% to $46.52.
Shares of Ann Taylor Corp. were higher by 3.5% at $35.31. The shares got a boost after Banc of America upgraded them to a buy from neutral with a $42 a share price target.
shares of Warnaco Group Inc. jumped 11.4% at the close to $27.58. Morgan Keegan & Co. raised its rating to outperform.

Daily Digest for March 5, 2007

SECInvestor.com — Mon, 05 Mar 2007 05:38:54 GMT

Great Atlantic & Pacific Tea (NYSE:GAP) plans to buy rival grocer Pathmark Stores for $678.6 million, creating a larger company to compete in the U.S. Northeast. The deal, which the companies had signaled in late February, will create a 550-store, $11 billion supermarket chain operating in the New York, New Jersey and Philadelphia areas, as well as in Maryland, Michigan and Louisiana. The combination marks the latest merger in the quickly consolidating grocery-store industry.

Advanced Micro Devices (NDAQ:AMD) the No. 2 maker of microprocessors, said it does not expect to meet its previous first-quarter revenue forecast, sending its shares lower. The company, which trails Intel in the market for computer chips, said revenue would fall short of its earlier quarterly target of $1.6 billion to $1.7 billion.Wall Street analysts, on average, had expected revenue of $1.65 billion.

The Seminole Tribe of Florida completed its $965 million purchase of the Hard Rock cafes, hotels, casinos and music memorabilia from The Rank Group PLC (LON:RNK) through a combination of a bond offering and an equity contribution from the tribe. In a Rank Group earnings report filed Friday, Hard Rock International reported operating profits increased 18.7% to $74.8 million, from $63 million the year before. It saw continued growth and improvement in all four business divisions comprising company-owned cafes, franchise cafes, and hotels and casinos.

Shares of InterMune Inc. (NDAQ:ITMN) crumbled Monday evening after the biotech firm announced its decision to discontinue a clinical trial, while shares of ADC Telecommunications Inc. gained after the company said it swung to a quarterly profit on higher sales. InterMune shares dropped 19% to $22.70 after the company said it has discontinued a Phase III clinical trial evaluating its Actimmune drug in patients with idiopathic pulmonary fibrosis.

ResCare Inc. (NDAQ:RSCR), which provides residential and therapeutic services to people with developmental disabilities, released that its Q4 profit rose sharply on higher revenue and a more favorable tax treatment. The company posted net income attributable to common shareholders of $7.7 million, or $0.28 per share, from $505,000, or $0.02 per share, a year ago. Adjusted income from continuing operations totaled $0.34 per share. Q4 revenue increased 24% to $337.1 million from $270.9 million in the year-ago period. Analysts had expected $340.6 million in sales.

Universal Power Group, Inc. (AMEX:UPG), a leading provider of third-party logistics and supply chain management services and a global distributor of batteries, security products and related portable power products, announced its financial results for the Q4 and year ended December 31, 2006. For the three month period ended December 31, 2006, UPG reported revenue growth of 15.3% to $24.6 million, compared to $ $21.3 million in the prior year period.

Copano Energy, L.L.C. (NDAQ:CPNO) announced its financial results for the three months and year ended December 31, 2006. The company’s net income increased by 16% to $16.5 million, or $0.86 per share, for the Q4 of 2006 compared to net income of $14.3 million, or $0.84 per share, for the same quarter the previous year.

Private equity group Vector Capital plans to acquire information security company SafeNet (NDAQ:SFNT) for approximately $634 million. The $28.75-per-share price represents 12% premium over SafeNet's average closing share price during the 30 trading days ended last Friday.

Daily Digest for March 2, 2007

SECInvestor.com — Fri, 02 Mar 2007 00:43:43 GMT

Hilton Hotels (NYSE:HLT) has agreed to sell the Scandic Hotel chain to European private equity group EQT for about $1.1 billion as it seeks to reduce debt. Hilton is targeting an investment grade credit rating after taking on debt to buy Hilton International in February 2006 in a $6 billion deal. Scandic was part of the Hilton International deal and was put up for sale in August. Hilton expects the sale of Scandic, the largest hotel operator in the Nordic region with 132 hotels, to reduce 2007 recurring earnings by $0.10 a share.

Britain's EMI Group (NYSE:EMPIY) rejected a $4.1 billion cash takeover proposal from Warner Music Group, saying the price was inadequate and not in the best interests of its shareholders. The world's third-largest music company held a board meeting on Friday after getting a non-binding proposal from Warner which indicated it might be prepared to make a bid at 260 pence per share. EMI has also been in talks with private equity firms including One Equity Partners, a unit of JPMorgan Chase, as potential alternatives.

Gen-Probe (NDAQ:GPRO) has won U.S. approval to sell its Procleix blood test to detect the West Nile virus, a Food and Drug Administration spokeswoman said Friday. The test is designed to screen donated blood, tissue and organs for the virus.

Bristol West Holdings (NYSE:BRW) shares jumped 36% Friday after the company agreed to be acquired by Zurich Financial for $712 million in cash, or $22.50 a share. That's a 39% premium to Bristol's close on Thursday.

Shares of Dendrite International (NDAQ:DRTE) jumped 21% after Cegedim S.A. agreed to acquire the company for $16 a share in cash. The deal values Bedminster, N.J.-based Dendrite, a provider of sales and marketing products and services to the pharmaceutical industry, at roughly $751 million.

Methode Electronics (NDAQ:METH) shares rose 12% after the company said Q3 sales rose to $105.4 million from $95.1 million a year earlier. Quarterly net income for the global maker of electronic components and subsystem devices was $4.7 million, or $0.13 a share, compared with $2.8 million, or $0.08 a share, a year earlier.

Shares of Palm Inc. (NDAQ:PALM) jumped 11% amid a fresh media reports that the maker of handheld wireless devices might be acquired by Nokia Corp.

Scottish Re Group Ltd. (NYSE:SCT) shares rose 11% after the company said the company's shareholders approved proposals relating to an investment of $300 million each by MassMutual Capital Partners LLC and an affiliate of Cerberus Capital Management L.P.

Advocat (NDAQ:AVCA) shares tumbled 28% Friday after the Brentwood, Tenn.-based health care services provider reported Q4 net earnings of $2.28 million, or $0.37 a share, down from $12.9 million, or $1.99 a share, in the year-ago period. Revenue rose 3.8% to $55.8 million from $53.7 million. The company expects 2007 results in a range of a loss of $0.08 a share to a profit of a penny a share on revenue of $221 million to $228 million.

AMN Healthcare Services Inc.'s (NYSE:AHS) shares fell 15% after the company reported that their Q4 net income jumped 44% to $10 million, or $0.29 a share, from $6.98 million, or $0.21 a share, a year earlier. The San Diego company's revenue grew to $283.5 million from $221.4 million.

Atlantic Tele-Network (NDAQ:ATNI) shares fell 11% after the company said it doesn't expect organic growth in earnings for 2007 to be as strong as it was in 2006 although it does expect to grow consolidated profits. The company posted earnings of $23.2 million, or $1.70 a share, for the year, on revenue of $155.4 million.

Credence Systems Corp. (NDAQ:CMOS) shares tumbled 25% after the company reported a Q1 net loss of $11,000, or breakeven on a per-share basis, compared with a net loss of $4.05 million, or $0.04 a share, during the year-ago period. The Milpitas, Calif.-based semiconductor-testing-equipment company posted revenue of $118.8 million versus $121.8 million.

Delta Air Lines Inc. (OTC:DARLQ) shares lost 6.9% after the company said its loss in January was $109 million, compared with a $300 million loss in January 2006. Delta's consolidated passenger unit revenue rose 3.7% in January over the same month in 2006. The Atlanta-based airline said its monthly operating expenses "remained essentially flat" despite a capacity increase of 2.9%. Delta is currently in Chapter 11 reorganization and is expected to exit bankruptcy in the coming months.

Gulf Island Fabrication (NDAQ:GIFI) shares tumbled 25% after the Houma, La.-based maker of offshore drilling and production platforms reported Q4 net earnings of $3.73 million, or $0.26 a share, up from $2.7 million, or $0.22 a share, in the year ago period. Revenue rose to $76 million from $41.4 million.

Leapfrog Enterprises (NYSE:LF) shares sank 8.4% after the company reported a Q4 loss of $46.0 million, or $0.73 a share, on sales of $182.8 million. In the same period a year earlier, the educational products developer earned $14.4 million, or $0.23 a share, on sales of $248 million.

OmniVision Technologies Inc. (NDAQ:OVTI) shares sank 7.2% after the company reported Q3 net earnings of $4.13 million, or $0.07 a share, down from $29.6 million, or $0.53 a share, during the year-ago period.

Daily Digest for March 1, 2007

SECInvestor.com — Thu, 01 Mar 2007 03:01:09 GMT

Dell (NDAQ:DELL) posted net income for its fiscal Q4 ended Feb. 2 of $673 million, or $0.30 a share, and revenue was $14.4 billion. In the same quarter last year, Dell reported net income of $1.01 billion, or $0.43 a share, on revenue of $15.18 billion.

American International Group (NYSE:AIG), the world's largest insurer by market value, said Q4 earnings rose sharply from a year ago. Net income was $3.44 billion, or a $1.31 share, compared with $444 million, or $0.17, a year ago. AIG also expanded its stock buyback plan by $8 billion. AIG says it intends to buy $5 billion worth of common stock during 2007.

Berkshire Hathaway (NYSE:BRK) reported higher full-year profit, helped by gains in its core insurance operations -- a welcome relief from two years of billion-dollar payouts for hurricane claims. Buffett said the company's net worth rose by $16.9 billion, or 18.4%, in 2006. While Geico had a blockbuster year, Berkshire’s non-insurance businesses also did well, with earnings up 38%.

Struggling apparel giant Gap Inc. (NYSE:GPS) said that their Q4 net profit fell 35% on lower or flat sales at its two main casual clothing chains and dependence on holiday season discounts. The global retailer, which is searching for a new chief executive after the January departure of Paul Pressler, said net income dropped to $219 million, or $0.27 a share, from $337 million, or $0.39 per share, a year earlier.

Motorola (NYSE:MOT) said it received notice that Carl Icahn and three of his entities have filed to buy more than $2 billion, or 4.4%, of the company's common stock, potentially making the financier Motorola's second biggest institutional holder. Motorola has a market capitalization of $45.56 billion, based on Wednesday's closing share price of $18.52.

Business software maker Oracle (NDAQ:ORCL) will buy Hyperion Solutions for $3.3 billion in cash, renewing a shopping spree aimed at toppling rival SAP. The deal announced Thursday will give Oracle an arsenal of Hyperion products that are widely used by SAP's customers. Santa Clara-based Hyperion represents the largest prey to be devoured by Oracle since it gobbled up Siebel Systems for $6.1 billion a little over a year ago. Redwood Shores-based Oracle will pay $52 per share for Hyperion. The price represents a 21% premium above the most recent closing price of Hyperion's stock, which has traded between $26.65 and $45.18 during the past year. Hyperion shares surged $8.69, or 20.3%, to $51.53 in afternoon trading on the Nasdaq Stock Market, where Oracle shares gained $0.39, or 2.4%, to $16.83.

Retailer Kohl's (NYSE:KSS) reported higher Q4 profit as sales were aided by new stores and goods sold exclusively at the chain. Earnings rose 29%, coming to a total of $484.6 million, or $1.48 a diluted share for the quarter ended Feb. 3, compared with $374.9 million, or $1.08 a diluted share, a year earlier. The earnings topped analyst consensus forecasts, which had projected a quarterly profit of $1.43 a share.

Sears Holdings (NYSE:SHLD) reported higher Q4 profit, helped by property sales and higher operating income at its Sears and Kmart divisions. The Hoffman Estates, Ill., company said earnings rose 27%, as margins improved despite weaker sales at established stores. Earnings for the quarter ending Feb. 3 totaled $820 million, or $5.33 a share, from $648 million, or $4.03 a share, in the same period last year.

Shares of Constellation Brands (NYSE:STZ) fell to a two-year low after the company provided a weak fiscal-year 2008 forecast, citing ongoing challenges in the U.K. retail environment and an oversupply of Australian wine. The world's largest wine maker by volume estimates fiscal 2008 earnings before items of $1.30 to $1.40 a share, or net income of $1.21 to $1.31 a share. Sales are expected to decline 12% to 14%, hurt by a change in the way it reports its Crown Imports joint venture. Constellation shares fell as low as $18.92, setting a two-year low for the stock. Previously, the stock fell as low as $19.65 in November 2004. The stock was among the biggest moves in the market on Thursday.

Swiss Re said General Electric (NYSE:GE) would divest its stake worth around 3.5 billion Swiss francs ($2.9 billion), selling half to Swiss Re and placing the other half in the market. Swiss Re had waived a lock-up period on the shares, which General Electric had received as part of the payment for its reinsurance units, which it sold for $7.4 billion to the Swiss reinsurer last year.

Daily digest for February 27, 2007

SECInvestor.com — Tue, 27 Feb 2007 01:53:13 GMT

Chrysler Group (NYSE:DCX) will offer allnearly 50,000 hourly workers in the U.S. up to $100,000 to leave the company as part of a recovery plan announced earlier this month. The company, which lost $1.475 billion in 2006, said it expects losses to continue through 2007. Chrysler plans to shed 13,000 jobs, including 11,000 hourly positions and 2,000 salaried, as it tries to further shrink itself to match reduced demand for its products.

Oil prices finished slightly higher Tuesday, after a volatile day that saw prices fall by more than $1 per barrel and then rebound to a 2007 high. Light, sweet crude for April delivery added $0.07 to settle at $61.46 a barrel on the New York Mercantile Exchange.
Movie-rental company Blockbuster Inc. said Tuesday its fourth-quarter earnings fell 28%, largely due to costs to launch and promote its growing online rental business. Quarterly net income dropped to $10 million, or $0.05 per share, versus $18 million, or $0.09 per share, a year ago.

For TXU Corp. (NYSE:TXU), higher fourth-quarter profits were eclipsed Tuesday by political wrangling over the pending sale of the company in what would be the largest private buyout ever. Compared to that drama, TXU's fourth-quarter results contained few surprises for Wall Street. The company churned out a 33 percent increase in profits despite weak revenue caused by mild winter weather. The Dallas-based electric utility said it earned $475 million, or $1.03 per share in the last quarter, up 33% from its profit of $356 million, or $0.74 per share, a year earlier.

Target (NYSE:TGT) reported higher quarterly profit, beating estimates on strong holiday season sales and growth in its credit card business, but the stock fell amid a broad market sell-off. The No. 2 U.S. discount retailer, behind Wal-Mart Stores, said profit increased to $1.119 billion, or $1.29 a share, in the fourth quarter that ended on Feb. 3, from $939 million, or $1.06 a share, in the same period a year earlier.

Consumer electronics retailer RadioShack (NYSE:RSH) reported higher quarterly profit after a restructuring drive improved inventory management and cut costs, sending its shares sharply higher. The company also forecast stronger-than-expected earnings for 2007 on improved profitability. Q4 earnings rose to $84.5 million, or $0.62 a share, from $51.2 million, or $0.38 a share, a year earlier.

Great Atlantic & Pacific Tea Company (NYSE:GAP) said it was in talks to acquire rival supermarket chain Pathmark Stores for about $653 million in cash and stock. A&P said no final agreement has been reached. A deal would mark the latest merger in the quickly consolidating grocery-store industry. Last week Whole Foods Market said it would buy Wild Oats Markets for $565 million.

General Motors (NYSE:GM) expects its February U.S. sales to be down 6% to 7%, mainly due to the automaker's decision to reduce sales to daily rental fleets. Ford Motor forecast an even bigger sales decline, also mostly due to slower fleet sales. GM spokesman John McDonald told Reuters the company expects retail sales to be flat for the month.

Threshold Pharmaceuticals (NDAQ:THLD) said its experimental drug for pancreatic cancer failed to meet the goal of improving overall survival in a late-stage clinical trial, slamming the company's shares. Threshold shares plummeted 76% , from $14 to $3.35.

Shares of Apple (NDAQ:AAPL) fell after the company said it would have to delay until March the launch of it gadget for streaming video and other content from computers to TV’s.

Daily Digest for February 26, 2007

SECInvestor.com — Mon, 26 Feb 2007 23:42:29 GMT

The Food and Drug Administration informed Novartis AG (NVS) that it needs an additional clinical data before it can approve the company's diabetes drug Galvus, a move that analysts say could delay the drug's approval by up to a year.

TXU Corp. (TXU), the biggest power utility in Texas, said Monday that its board agreed to a deal to be taken private by an investor group led by Kohlberg Kravis Roberts (KKR), Texas Pacific Group and Goldman Sachs.

Marvell Technology Group Ltd. (MRVL) said late Monday that fourth-quarter revenue rose 27% from a year ago as it sold more chips used in data storage devices and consumer electronics. Shares moved up on the news.

Apple Inc. (AAPL) shares slipped Monday evening after the company said that it has pushed back the release of its Apple TV product. "Wrapping up Apple TV is taking a few weeks longer than we projected," according to Lynn Fox, an Apple spokeswoman. No reasons were cited why.

Brocade (BRCD) shares rose 6.2% to $9.23 after the company reported fiscal first-quarter earnings of $33.3 million, or 12 cents a share, up from $9.7 million or 4 cents a share a year ago.

Threshold Pharmaceuticals (THLD) shares dropped 60% to $1.40 after the biotech firm said that a Phase III clinical trial for its drug candidate glufosfamide failed to show the drug could extend lives in patients stricken with pancreatic cancer.

NetEase (NTES) shares rose 3.7% to $22.63. The company said that its fourth-quarter net profit grew 19% to $41 million, or 30 cents per ADR, from a year-earlier profit of $34.4 million or 25 cents a share. Revenue grew nearly 15% to $69.2 million. Excluding certain items, fourth-quarter profit was $44 million compared with $34.2 million a year earlier. Analysts expected earnings of 24 cents a share on revenue of $64.8 million.

Focus Media (FMCN) shares traded up 3.2% at $85.68 after the company's fourth-quarter net income more than tripled to $30.1 million, or 55 cents per ADR, from $9.43 million or 23 cents an ADS a year earlier. Total revenue increased to $68.3 million from $24.6 million. Analysts were looking for earnings of 62 cents a share on revenue of $68.6 million.

Xilinx Inc. (XLNX) shares rose 1.1% to $26.63 after the company boosted its quarterly dividend to 12 cents a share from 9 cents a share. It also approvated a share buyback plan of up to $1.5 billion, which is in addition to the $175 million remaining from its previous program. The company is funding this through a proposed $900 million convertible notes offering.

Dow Chemical Co. (DOW) management said that it would oppose any attempt by buyout firms to break up the chemical giant. Shares, however, closed 3.5% higher on rumors that the company could be valued as high as $60 per share in a buyout.

Daily Digest for February 23, 2007

SECInvestor.com — Fri, 23 Feb 2007 22:31:33 GMT

Private equity firms Kohlberg Kravis Roberts & Co. and Texas Pacific Group plan to include TXU Corp. (NYSE:TXU) Chief Executive C. John Wilder in their TXU buyout offer, which could total as much as $44 billion, according to a media report on Saturday.

Billionaire real-estate entrepreneur Sam Zell is proposing to participate in a buyout of troubled newspaper publisher and television broadcaster Tribune Co. (NYSE:TRB), according to a media report on Saturday.

Caremark Rx Inc. (NYSE:CMX) said Saturday it has mailed supplemental disclosures regarding its planned merger with CVS Corp. following a judge's ruling yesterday, and has scheduled a shareholder vote on the deal for March 16.

Dell Inc. (NDAQ:DELL) Chief Executive Michael Dell will be back in the company's earnings fray on March 1, when the newly returned chief executive delivers what is expected to be a negative fourth-quarter report in which sales and revenue are forecast to fall from a year ago.

Sources say DaimlerChrysler (NYSE:DCX) Chief Executive Dieter Zetsche, right, with CFO Bodo Uebber, hopes to offer a progress report on Chrysler at the German automaker's annual meeting on April 4 in Stuttgart.

Shares in Lowe's surged on Friday after the home improvement retailer said sales had "bottomed" following the downturn in the US housing market and predicted gradual improvement throughout 2007.

KB Home (NYSE:KBH), the fifth-largest US homebuilder, is under criminal investigation by federal prosecutors over stock-options backdating that led to the resignation of the company's chief executive.

Wendy's International Inc. (NYSE:WEN)said Friday that it will reluctantly close the restaurant where the nation's third-largest hamburger chain began in 1969 because of sagging sales.

Sirius Satellite Radio Inc. (NDAQ:SIRI) and XM Satellite Radio Holdings Inc. (NDAQ:XMSR) may forecast slowing subscriber growth when they report earnings next week, a slump that could help build support for their plans to merge with one another.

Sony (NYSE:SNE) Chief Executive Howard Stringer said it wouldn't make sense to break up the company's businesses in a digital age. "I'm certainly not thinking about it," said Stringer in an interview on CNBC's "Power Lunch." "I am finally achieving what I've been trying to get for the last decade."

News video showing about a dozen rats running around a KFC-Taco Bell restaurant in Greenwich Village was widely disseminated Friday on TV stations and the Internet. Yum Brands (NYSE:YUM) owns both franchises.

Troubles buffeting the U.S. mortgage market could get worse as resurgent crude oil prices squeeze the finances of already hard-pressed borrowers, analysts say, and that could spell more trouble for Wall Street. This would represent further fallout from the subprime mortgage correction that we've been seeing over the past few months.

Univision (NYSE:UVN), the nation's largest Spanish-language broadcaster, has agreed to a record $24 million fine for failing to meet government rules for educational children's programming, a Federal Communications Commission official said Saturday.

In a blunt Feb. 14 memo, Starbucks (NYSE:SBUX) CEO Mr. Schultz warned executives that the chain may be commoditizing its brand and making itself more vulnerable to competition from other coffee shops and fast-food chains. The nearly 800-word memo questioned whether Starbucks' automatic espresso machines, new store designs and elimination of some in-store coffee grinding may have compromised the "romance and theatre" of a visit.

Daily Digest for February 22, 2007

SECInvestor.com — Thu, 22 Feb 2007 04:17:31 GMT

Luxury-Home Bulder Toll Brothers' (NYSE:TOL) Q1 profit is down 67%. Quarterly earnings declined to $54.3 million, or $0.33 per share, from $163.9 million, or $0.98 per share, during the same period a year ago. Revenue slipped 19% to $1.09 billion from $1.34 billion in the previous year, meeting Wall Street's expectations.

Microsoft Corp. (NDAQ:MSFT) must pay $1.52 billion in damages to telecommunications equipment maker Alcatel-Lucent SA for violating two patents related to digital music, a federal jury ruled. Shares of Microsoft slipped $0.03 to close at $29.32 on the Nasdaq Stock Market. Alcatel-Lucent's stock added $0.10 to end the day at $13.17 on the NYSE.

Newmont Mining Corp. (NYSE:NEM) and Barrick Gold Corp. (NYSE:ABX),two of the world's largest gold miners, reported strong Q4 earnings due to higher selling prices. However, they predict that production will slow in the year ahead because of rising operating costs. Barrick Gold had Q4 earnings that more than doubled to $418 million, or $0.48 per share, from $175 million, or $0.32 per share, in the year-ago period. For the quarter ending Dec. 31, Newmont reported their net income of $223 million, or $0.49 per share, compared with $62 million, or $0.14 per share, in the prior-year quarter.

Safeway Inc.'s (NYSE:SWY) Q4 profit surged 77% to cap the grocer's best performance in five years, a comeback driven by contentious cost cutting and a recent makeover that has infused more elegance into its stores. The company earned $307.9 million, or $0.69 per share, in the three months ended Dec. 30. That compared with net income of $173.5 million, or$0.39 per share, at the same time in 2005.

J.C. Penney Co. (NYSE:JCP) said its Q4 profit fell 13%, partly due to higher taxes. The company predicts a weaker Q1 than Wall Street expects. Penney shares fell $2.96, or 3.4% to $83.39 in trading on the NYSE. In the fiscal year that just ended, Penney earned $1.15 billion, or $4.96 per share. That's up 6 percent from $1.09 billion, or $4.26 per share the year before. Revenue also grew 6%, to $19.90 billion from $18.78 billion.

Turbo Tax software maker Intuit (NDAQ:INTU) posted lower Q2 net income and cut its full-year forecast. The company also said unit sales through Feb. 17 of Turbo Tax, which generates about 25% of overall revenue, were up 1% from the previous year. The company's Q2 net income fell to $145 million, or $0.40 a share, from $183 million, or $0.50 per share, a year ago.

Analog Devices (NYSE:ADI) forecast that profit for its current quarter would be $0.37 to $0.42 a share on revenue of between $640 million to $670 million. Analysts had forecast Analog Devices would show a fiscal Q2 profit of $139.3 million, or $0.39 a share, on revenue of $655.1 million. Shares of Analog Devices leaped as investors responded to an optimistic outlook that the company announced along with earnings. The company said net profit in its first fiscal quarter ended Feb. 3 was $153.2 million, or $0.44 a share, compared with $120.6 million, or $0.32 a share, a year earlier. Revenue rose 11% to $691.6 million, well above estimates of $652 million.

Walt Disney (NYSE:DIS) plans to add two cruise ships to its existing lineup, in an effort to meet increasing demand and provide more trip destinations. Disney, which currently has two ships, said the new ocean liners will hit the waves in 2011 and 2012. Each ship will have 1,250 rooms.

Europe's biggest bank, HSBC Holdings (NYSE:HBC), has ousted the head of its North American operations, Bobby Mehta, in the wake of this month's shock profit warning from its troubled U.S. mortgage business. The bank also replaced the head of its New York-based retail banking operation, HSBC Bank USA. HSBC said Mehta stepped down as chief executive of HSBC Finance Corp. and as head of HSBC North America with effect from February 15. HSBC also appointed Paul Lawrence as president and CEO of HSBC Bank USA and HSBC USA Inc. with immediate effect, replacing Sandy Derickson, who is leaving the bank.

Daily Digest for February 21, 2007

SECInvestor.com — Wed, 21 Feb 2007 03:05:56 GMT

Oil prices settled above $60 a barrel for the first time this year after a pipeline and oil field shut down and threatened to cut into supply. Increasing tensions over Iran's uranium enrichment program also helped to boost prices.

JetBlue Airways Corp. (NYSE:JBLU) said it expects a wider Q1 loss and lower full-year profit, as it absorbs the effect of more than 1,000 cancellations caused by last week's winter blast in the Northeast. JetBlue expects to report a full-year profit of $0.44 a share, down from a prior projection of $0.64. Analysts overall are looking for $0.52 a share. Despite the lower guidance, JetBlue shares rose $0.29, or 2.3$, to close at $13.19 on the Nasdaq Stock Market, after earlier climbing as high as $13.56. The stock has traded between $8.93 and $17.02 over the past year.

Medco Health Solutions Inc. (NYSE:MHS), the biggest U.S. prescription-benefit manager, said its Q4 earnings soared 29% on higher overall revenue and improved results in its key specialty pharmacy business. The results beat Wall Street expectations, the company raised its profit forecast, its board authorized a bigger share buyback and shares set a new 52-week high. They rose $6.21, or just over 10%, to close at $67.80 on the NYSE.

General Motors (NYSE:GM) gave AT&T (NYSE:T) an award of a five-year, $1 billion global networking contract that will prepare the world's largest automaker for whatever electronic breakthroughs lie ahead. AT&T shares fell $0.15, or 0.4%, to close at $37.21 on the NYSE. GM shares fell $0.58, or 1.6%, to close at $35.37 on the NYSE.

Abercrombie & Fitch (NYSE:ANF) said that its Q4 earnings jumped 20%, powered by strong sales as the teen retailer continues to expand its Hollister line of stores. Analysts expect earnings of $2.14 a share on revenue of $1.1 billion. Abercrombie shares ended the day at $82, down $0.64. Shares fell $2.30 to $79.70 in trading after hours. Abercrombie shares have been trading near their record high of $83.82. The shares have been as low as $49.98 in the past year.

Analog Devices (NYSE:ADI) posted a higher quarterly profit as the maker of analog and digital signal processors benefited from strong sales of consumer products like flat-screen televisions and video game controllers. The company's profit jumped 27%, along with shares of Analog Devices that jumped more than 5% in after-hours trading. Analog Devices also forecast that profit for its current quarter would be $0.37 to $0.42 a share on revenue of between $640 million to $670 million.

Best Buy (NYSE:BBY) plans to open about 130 stores in the United States, Canada and China during its fiscal year beginning March 4. The top U.S. consumer electronics retail chain said it expects global retail square footage of about 46 million square feet, representing growth of around 10%, by the end of the year. In the United States, the company expects to open about 90 stores and to operate more than 900 by the end of the year.

Daily Digest for February 17, 2007

SECInvestor.com — Sat, 17 Feb 2007 16:51:01 GMT

Electronic Arts (NDAQ:ERTS) CEO Larry Probst said that the company was "at the very beginning of the next significant growth cycle" after receiving sales boosts from the new PlayStation 3 and XBox 360 systems.

AOL Time Warner's (NYSE:TWX) chief executive Steve Swad left the company last week to join a private equity firm, a move that follows many others in the company as they attempt to convert from an internet provider to advertising giant.

Dell Computers (NDAQ:DELL) said it has hired Ron Garriques, Motorola handset chief, to lead the company's consumer group. This move follows a series of other new executives filling in the ranks of Dell as the company attempts to turn itself around after several disappointing quarters.

DaimlerChrysler (NYSE:DCX) reportedly is in talks to sell slumping U.S. division to General Motors. This move would generate significant cash for the automaker to assist in its efforts to further focus on its core competencies.

Morningstar (NYSE:MORN) moved up on Friday after analysts predicted strong growth for the fast-moving financial company. Elliott Schlang of Great Lakes Review, the institutional research arm of Soleil Securities Corp., is predicting Morningstar's fourth-quarter net income will jump 31.5% to $13.3 million, or 28 cents a share. The company generated profits of $10.1 million, or 22 cents per share, in a record-setting 2005 fourth quarter.

Simon Property Group and its partner won a brief bidding war for the Mills Corp. (NYSE:MLS) and its 38 shopping malls after sweetening their initial offer by $80 million.

Daily Digest for February 13, 2007

SECInvestor.com — Tue, 13 Feb 2007 03:33:35 GMT

Applied Materials Inc. (NDAQ:AMAT), the top supplier of equipment for making microchips, released that their Q1 profit nearly tripled and that Q2 revenue could rise as much as 5%, sending its shares up 4.5%. Sales are estimated to grow to $2.28 billion to $2.39 billion.

Kraft Foods (NYSE:KFT) could be planning to make an acquisition or two, due to their restructuring plan following its spin-off from Altria, that could open the door for the company to combine with a rival, extending the firm's global reach. HJ Heinz, Groupe Danone, and Cadbury Schweppes are potential targets. Kraft's estimated ratings and price target have both been increased.

KB Home (NYSE:KBH) reported a loss in its Q4. KB Home posted a loss of $49.6 million, or $0.64 a share, versus a profit of $304.4 million, or $3.44 per share during the same period in 2005. However, revenue rose 13% to $3.55 billion from $3.15 billion.
Alcoa Inc. is being targeted by two foreign mining giants who are each preparing $40 billion takeover bids for the aluminum producer, a British newspaper reported. Alcoa shares rose nearly 6%, although some analysts questioned whether such a deal was likely. Alcoa shares have already increased 20% year to date, against a market that has grown just 1.4%.

Time Warner Cable Inc. (NYSE:KBH) officially became a public company Tuesday after a judge cleared the way for a reorganization plan for Adelphia Communications Corp., which is being acquired by Time Warner Cable and Comcast Corp.; Time Warner Cable, the second-largest cable provider in the country after Comcast, said its shares would begin trading on the New York Stock Exchange as early as March 1 under the ticker symbol "TWC." Time Warner Cable will distribute 156 million shares of its stock, or about 16% of its total outstanding shares, to stakeholders in Adelphia. That stake is valued at approximately $6 billion.

The senior vice president of Dell Inc.'s (NDAQ:DELL) global online business and marketing division has decided to leave the computer maker rather than oversee the company's new consumer group. This all comes a few weeks after founder Michael Dell resumed his role as chief executive officer, replacing Kevin Rollins. Dell has been making many executive changes lately amid mounting problems that include disappointing earnings, eroding market share, an ongoing federal accounting investigation and several shareholder class-action lawsuits. Dell also has recently lured executives from General Motors Corp., Hewlett-Packard Co., Amazon.com Inc. and Wells Fargo & Co. Dell shares rose $0.10 to close at $23.61.

Broadband service provider Covad Communications Group Inc. (AMEX:DVW) said it expects to report a wider loss in 2007. The company expects a net loss between $15 million and $39.5 million on sales between $490 million and $525 million. In 2006, Covad posted a loss of $13.9 million, or $0.05 a share, on revenue of $474.3 million.

Merrill Lynch upgraded its recommendation on shares of General Motors Corp. (NYSE:GM) to "buy" from "sell," on the belief that the auto maker will use its liquidity and assets to continue to cut costs. At the same time, Merrill cut Ford Motor Co. to "sell" from "neutral" because the stock may be overvalued. News of the GM upgrade helped the stock hit its highest level since August 2005 in early trading on the NYSE. The shares closed up $0.88, or 2.5%, at $36.59. The stock traded as high as $37.24. Ford's shares fell $0.20, or 2.31%, to close at $8.45.

First Solar Inc. (NDAQ:FSLR) rose in aftermarket trading Tuesday after the Phoenix-based maker of solar power modules reported a Q4 profit, topping Wall Street's expectation for a quarterly loss. Revenue also beat analyst projections. The stock was up $5.42, or 15.8%, to $39.70 in aftermarket electronic trading, after gaining $1.18, or 3.6%, to finish at $34.28 on the Nasdaq.

Titanium Metals Corporation (NYSE:TIE) reported operating income of $109.5 million for the quarter ended December 31, 2006 compared to $63.0 million for the quarter ended December 31, 2005, an increase of 74%. The company also reported net income attributable to common stockholders of $110.6 million, or $0.61 per diluted share, for the quarter ended December 31, 2006, compared to $38.6 million, or $0.23 per diluted share, for the same quarter the previous year.

Nvidia Corp. (NDAQ:NVDA) posted a 68% rise in quarterly profit as the graphics chipmaker had strong sales of its chips for desktop and notebook personal computers. Nvidia said Q4 net income rose to $163.5 million, or $0.41 a share, from $97.4 million, or $0.26 a share, a year ago. Revenue jumped to $878.9 million from $633.6 million.

Daily Digest for February 12, 2007

SECInvestor.com — Mon, 12 Feb 2007 05:43:55 GMT

The fast-food company Yum Brands (NYSE:YUM), the parent company of KFC, Pizza Hut and Taco Bell chains, reported a 2.6% rise in quarterly earnings. The company's Q4 net income increased to $232 million, or $0.83 a share, from $226 million, or $0.77 a share, a year ago.

Time Warner (NYSE:TWX) reached a deal to sell the Atlanta Braves to Liberty Media after more than a year of negotiations. The agreement, which must still be approved by Major League Baseball owners, would involve Time Warner transferring the Braves, a group of craft magazines and $1 billion in cash to Liberty in exchange for about 60 million shares of Time Warner. Based on the closing price of Time Warner's stock, the market value of those shares would be about $1.27 billion.

Shares of Onyx Pharmaceuticals (NDAQ:ONXX) soared after the company and its partner Bayer reported positive results from the final trial of a treatment for advanced liver cancer, paving the way for approval of the drug. Liver cancer is the fifth most common cancer in the world and is often seen as difficult to treat.

Bayer (FRA:BAY) has said it expects peak sales of about 500 million euros ($649.6 million) from Nexavar in the treatment of kidney, liver and skin cancer. If approved for other cancers such as lung cancer, the firm has said the drug could generate sales of around 1 billion euros. In the Q3 of 2006, Bayer saw Nexavar sales of 37 million euros and for the full year the firm expects more than 100 million euros in revenue from the drug.

Bristol-Myers Squibb (NYSE:BMY) shares fell as shares of Sanofi-Aventis rose on Monday after a report the two drugmakers had ended talks for the French firm to buy the smaller U.S. group. Bristol-Myers shares have run up strongly in the past two weeks on talk of a Sanofi bid, closing at $28.52 on Friday to value Bristol-Myers at more than $56 billion.

Canadian luxury hotelier Four Seasons Hotels (NYSE:FS) has agreed to be taken private by a group of investors that includes Saudi Prince Alwaleed bin Talal and an investment firm owned by Microsoft Chairman Bill Gates. The investors have offered $82 in cash for each limited voting share in a deal that values Four Seasons at $3.8 billion including debt, the company said. Four Seasons said the transaction was approved unanimously by its board following a report and recommendation by a panel of independent directors. Shares of Four Seasons closed at $83.88 in New York on Friday.

The U.S. Navy has awarded a $15.8 million contract boost to a subsidiary of Boeing Co. (NYSE:BA); shares of Boeing gained $0.20 to $89.40 in aftermarket trading, after dropping $0.80 to close at $89.20.

The U.S. Navy has awarded a $50.8 million contract to a unit of Raytheon Co. (NYSE:RTN); shares of Raytheon dropped $0.09 to close at $54.54.

Pinnacle Foods Group Inc., the privately held owner of Duncan Hines baking mixes, Hungry Man and Swanson frozen dinners and Vlasic pickles, has agreed to be acquired by a group led by the buyout specialist Blackstone Group for about $1.3 billion in cash. Former Kraft Foods Inc. CEO Roger Deromedi will become chairman when the deal closes. The company generates approximately $2.1 billion in annual gross sales.

Medical research and services company Charles River Laboratories International Inc. (NYSE:CRL) released that its Q4 profit dropped 30%. Quarterly profit totaled $35.2 million, or $0.52 a share, compared with $50.4 million, or $0.69 a share, for the Q4 of 2005. Quarterly sales rose 5% to $271.7 million from $258.2 million year ago. For 2006, Charles River swung to a loss of $55.8 million, or $0.80 a share, from a profit of $142 million, or $1.96 per share, in 2005. Sales rose 7 percent to $1.06 billion from $993.3 million in 2005.

Despite strike issues and layoffs of 440 employees at their largest production plant, shares of Harley (NYSE:HOG) rose $0.47 to close at $68.27. However, the strike is costing Harley up to $11 million a day in sales, but they expect it to be short-lived and have little impact on the company's full-year performance.

Daily Digest for February 8, 2007

SECInvestor.com — Thu, 08 Feb 2007 00:51:45 GMT

Earlier this week, American Real Estate Partners, an affiliate of activist investor Carl Icahn made a $2.43 billion, or $36 a share, offer for Lear (NYSE:LEA). However, the company would not comment on what news is pending, or when it might be released. Lear shares were trading at $40.06, before they halted today after the company wouldn't release further information about the buyout. Lear shares surged 12% on the news that day, indicating that some investors expected either Icahn would raise his offer or another company might enter the bidding. Icahn's offer represented a 3.8% premium to Lear shares' closing price the day before the offer became known. However, the stock had climbed some 60% since Icahn disclosed in October he had increased his stake in the company to 16% of its shares outstanding.

Crude oil futures jumped more than $2 this afternoon, after a fire forced Occidental Petroleum to declare force majeure at one of the largest gas and oil fields in California. On the New York Mercantile Exchange, March crude settled up $2.00, or 3.5%, at $59.71 a barrel, the highest settlement price of the year.

U.S. movie theater advertiser National CineMedia opened up 21% in its market debut, a day after pricing above a forecast range. The centennial, Colorado-based company raised $798 million with a 38 million share initial public offering that sold for $21 a share compared with an $18 to $20 forecast.

Luxury home builder Toll Brothers (NYSE:TOL) expects to report a 19% drop in home-building revenue. The company said preliminary results showed that home-building revenue fell to $1.09 billion in its fiscal Q1. The value of the contracts Toll signed during the quarter fell 34% to $749 million, and the backlog of homes on order and waiting construction fell 30% to $4.15 billion.

Eastman Kodak (NYSE:EK) expects to complete their three-year restructuring program by the end of 2007, including additional job cuts, that will help it sustain profitability. Kodak is aiming for gross profit margins of 28% to 29%, with earnings from operations at 8% to 9% of revenue in 2009. Kodak expects total restructuring costs of $3.6 billion to $3.8 billion from the program, with job cuts of 28,000 to 30,000 positions. As of the Q4, Kodak had eliminated 23,400 jobs under the plan.

Weyerhaeuser (NYSE:WY) is expected to see earnings fall 21% to $0.75 a share on sales of $5.36 billion. In the year-ago period, the company reported a profit of $0.94 a share on revenue of $5.87 billion.

Walt Disney (NYSE:DIS) said that its Q1 earnings more than doubled from a year ago. Shares of Disney rose as much as 2.5% in after-hours trading Wednesday. Disney reported quarterly earnings of $0.50 a share, easily surpassing expectations. The company was expected to post fiscal Q1 earnings of $0.39 a share, up from $0.35 last year. Disney said net income rose to $1.7 billion, or $0.79 a share, from $734 million, or $0.37 a share in last year's Q1. Revenue rose 10% to $9.7 billion, topping the consensus of $9.5 billion.

PepsiCo's (NYSE:PEP) Q4 earnings rose 61%, fueled in part by strong sales gains at its international and Frito-Lay businesses. The company also raised its 2007 earnings forecast. The company's net income in the quarter ended Dec. 30 rose to $1.78 billion, or $1.06 a share, up from $1.11 billion, or $0.65 a share, a year ago. Revenue rose 2.8% to $10.38 billion from $10.01 billion a year ago. In the latest quarter, PepsiCo earned $0.72 a share, compared with earnings of $0.65 a year ago.

GlaxoSmithKline (NYSE:GSK), Europe's biggest drug maker, reported a 16% rise in annual profit. However, the company expects that 2007 growth will slow as it awaits pipeline renewal. Q4 profits before tax was $2.2 billion, up from $2.08 billion in the same three months ending December in 2005. Q4 sales rose to $7.79 billion from $7.66 billion, helped by strong U.S. demand.

Waste Management (NYSE:WMI), the nation's largest garbage hauler, reported that its Q4 earnings fell 15% from a year ago, when the company had heavy business from hurricane cleanups and one extra work day. Revenue in the most recent quarter fell to $3.28 billion from $3.37 billion a year ago.

Tribune (NYSE:TRB), which has been fielding offers for its newspaper and broadcastiong operations, experienced a Q4 profit surge of 81%, benefiting from multiple gains and higher revenue. Net income after paying preferred dividends jumped to $239.1 million or $0.99 a share, from $132.3 million, or $0.43 a share, during the same period a year ago. The company earned $0.68 a share in the latest period, higher than the consensus of $0.61.

Daily Digest for February 5, 2007

SECInvestor.com — Mon, 05 Feb 2007 01:59:28 GMT

Lear Corp.'s (NYSE:LEA) shares surged as much as 15% Monday, rallying after the auto-parts supplier said billionaire financier and top shareholder Carl Icahn has made an offer to buy all of the company's outstanding stock. Lear's stock finished up $3.97 at $38.64 after notching a 52-week high of $39.88 earlier in the session. The $36-a-share offer from Icahn represents a 3.8% premium over the stock's Friday closing price. Icahn currently holds nearly 12 million shares of Lear, which amounts to 17.8% of the total. He bought into the company with a $200 million stake in October, when the stock was trading below $25 a share.

Argonaut Group Inc. (NDAQ:AGII) shares rose 5.2% Monday after the company reported Q4 earnings of $31.4 million, or $0.92 a share, up from a year-ago profit of $25.4 million, or $0.76 a share. Total revenue rose 14.5% at the San Antonio specialty insurer in the three-month period to $243.1 million from $212.4 million in the same period a year earlier.

Asyst Technologies Inc. (NDAQ:ASYT) shares climbed 6.3% after the company was upgraded to buy from neutral at American Technology Research.

Cognizant Technology Solutions Corp. (NDAQ:CTSH) shares rose 8.3% after the company said their Q4 net income rose 21% to $69.5 million, or $0.46 a share, from $57.7 million, or $0.39 a share, a year ago. Q4 revenue rose 65% to $424.4 million from $256.9 million. It is estimated that the company will earn $0.43 a share on revenue of $405.5 million for the latest Q4.

Hanover Compressor Co. (NYSE:HC) shares surged 18% while shares of Universal Compression Holdings Inc. jumped 16% after the companies announced their boards have approved a merger that will create a combined company with a market capitalization of $3.8 billion.

Herbalife Inc. shares soared 21% after the company said it has received an acquisition offer of $38 a share from Whitney V L.P. and its affiliates. Whitney and its related parties already own roughly 27% of the Los Angeles-based vitamin and nutritional supplement company's outstanding stock. Herbalife said it has formed a special board committee to review the offer.

Rambus (NDAQ:RMBS) shares soared 24% after the Federal Trade Commission ordered the company to license some of its older computer memory-chip technology and set maximum royalty rates it can collect for licensing.

Shares of The Mills Corp. (NYSE:MLS) surged 16% after Simon Property Group Inc. and private equity firm Farrallon Capital Management LLC disclosed a joint proposal to acquire the company for $24 per share. At present, Mills has an agreement in place to be acquired by Brookfield Asset Management Inc. for $21 per share. Farralon manages funds that currently own roughly 10.9% of Mills' outstanding common stock.

Columbia Laboratories' (NDAQ:CBRS) shares plummeted 68% after the Livingston, N.J.-based company announced that its Phase III clinical trial of progesterone for the prevention of preterm birth did not achieve any reduction in the incidence of preterm birth at week 32, the primary endpoint.

NewMarket (NYSE:NEU) shares fell 18% after the Richmond, Va.-based maker of chemical additives late reported Q4 net earnings of $4.5 million, or $0.26 a share, down from $11.1 million, or $0.64 a share, in the year-ago period. Revenue rose to $306.2 million from $293.7 million.

Royal Caribbean Cruises (NYSE:RCL) shares fell 5.1% as investors focused on a tempered 2007 outlook and looked past the cruise-line operator swinging back into the black during Q4.

Transmeta Corp. (NDAQ:TMTA) shares tumbled 11% after the company said it's streamlining its operations to focus on its core business of intellectual property licensing. The company plans to decrease its workforce by roughly 39% as part of the restructuring, shedding about 75 employees, mostly in its engineering services businesses.

State Street Corp. (NYSE:STT) shares lost 6.5% after the company said it plans to buy fellow Boston-based Investors Financial Services Corp. for about $4.5 billion in stock.

SLM Corp. (NYSE:SLM) shares tumbled 8.8% after the White House proposed a 50-basis-point cut in student lender rate subsidies and increasing lender risk as part of a plan to save the government $95 billion in entitlement spending by 2012.

Natural gas for March delivery closed up 2.1%, adding 15.8 cents to close at $7.634 per million British thermal units on the New York Mercantile Exchange, after the contract reached as high as $7.93 in earlier dealings. Overnight, prices rose past $8 to their highest level since Dec. 14.

Hitachi Ltd.'s (NYSE:HIT) Hitachi Data Systems unit announced that it intends to buy Archivas Inc. for undisclosed terms. The Tokyo electronics company's unit said Archivas, of Waltham, Mass., makes software that allows user to store, protect and manage fixed-content data, such as document, email, database, image and audio files, in order to meet corporate governance, legal discovery and compliance regulations.

Daily Digest for February 2, 2007

SECInvestor.com — Fri, 02 Feb 2007 05:02:41 GMT

Shares of Herbalife (NYSE:HLF) jumped 18% to $39.16. The company said it has received an acquisition offer of $38 a share from Whitney V L.P. and its affiliates. The offer represents a 14.8% premium to the Herbalife's regular-session closing price of $33.10.

Rackable Systems Inc. (NDAQ:RACK) lost $0.03 to end at $16.66, after sliding 18% during the day session. The company's Q4 net earnings of $563,000, or $0.02 a share, were down 92% from $7.31 million or $0.32 a share during the year-ago period.

Atheros Communications (NDAQ:ATHR) gained $0.07 to $24.03. The wireless company said that it swung to a Q4 loss, but revenue of $87.8 million was above the estimated $86 million.

RedEnvelope (NDAQ:REDE) shares are up 7.5% at $80 after the branded online retailer released that the Q3 net income rose to $5.31 million, or$0.56 a share, from $4.1 million, or $0.43 a share, a year ago. Revenue rose to $57 million from $53 million. RedEnvelope backed its view for 2007 revenue growth of 7% to 10%, with a net loss of $2 million to $2.5 million.

Allstate Corporation's (NYSE:ALL) net income came in at $1.21 billion, or $1.93 a share, up 17% from a year earlier when the property and casualty insurer made $1.04 billion, or $1.59 a share.

Sirf Technology (NDAQ:SIRF) shares rose almost 3% after the company reported a Q4 net earning of $9.1 million, down from $10.23 million a year ago. Sirf's sales rose 36.6% to $74.2 million from $54.3 million.

Crude oil for March delivery settled up $1.31 at $59.02 a barrel in New York. For the week, oil rose 6.5%, the largest gain since the week of December 1st and the third weekly gain in a row. In electronic trading, oil rallied further, setting a fresh four-week high of $59.25.

AstraZeneca (NYSE:AZN) has announced two drug development deals potentially worth up to $800 million. The company said it paid $150 million to buy a privately held British biotech called Arrow Therapeutics. AstraZeneca also said it would cut 3,000 jobs, about 4.6% of its workforce. Most of the reductions will come from manufacturing personnel as AstraZeneca prepares for generic competition. AstraZeneca traded $1.45 higher to $57.40.

British Airways (NYSE:BAB), Europe's third best airline and the UK's largest, announced their Q4 2006 earnings of 8.9 pence/share (£103m), down 12% from 10.3 pence/share (£117m) in Q4 2005. Revenues were £2.1 billion. Analysts had forecasted income of £109m. The airline averted a flight-attendants strike this week, but lost £80m in the scuffle, causing CEO Willie Walsh to cut its full-year growth guidance to 3.25-3.75% from 4.5-5%. Margins were down to 6.2% from 8.6% over increased fuel and pension costs. Passengers flown and load factor (proportion of seats sold) were flat at 8.53m and 73.7%. The company cut its net debt in 2006 by £775 million to £866 million; cash rose £203 million to £2.64 billion. British Airways' shares are trading up 2.3% in London.

Nissan (NYSE:NSANY) reported a 23% drop in Q3 net income to $862 million. This is Nissan's first drop in profit in six quarters. Its worldwide autos sales fell 3% in the quarter, led by a 16% decline in Europe. Nissan cut its full fiscal year (ending in March) net profit forecast by 12%. Nissan's ordinary shares lost 1.8%.

U.S. Steel (NYSE:X) reported a year-over-year surge in Q4 profits which easily beat street estimates ($2.50 versus $2.19-$2.21/share), but the company expects a decline in Q1. Q4 net income totaled $297 million, versus the $109 million estimate, and $0.85 a share for last year, on sales growth of 8.8% to $3.77 billion.

Daily Digest for January 30, 2007

SECInvestor.com — Tue, 30 Jan 2007 06:14:43 GMT

News and Events

Motorola, Inc. (NYSE:MOT) shares moved up today after Carl Icahn disclosed a small stake in the company and said that he wanted a seat on the company's board of directors. Mr. Icahn is well known for his shareholder activism in company's as large as Time Warner. Many expect him to institute a share buyback or special dividend if he attains a seat.

NYSE Group, Inc. (NYSE:NYX) is set to announce a strategic alliance with the Tokyo Stock Exchange tomorrow morning. NYSE Group Chief Executive John Thain and Tokyo Stock Exchange Chief Executive Taizo Nishimuro will attend a briefing to discuss the alliance; however, the company offered no additional comments on any specifics.

Altria Group, Inc. (NYSE:MO) is expected to report higher fourth-quarter results, but news of its plans to spin off its majority stake in Kraft Foods, Inc. (NYSE:KFT) is expected to overshadow these announcements. Some are concerned that Kraft's shares could experience some downside pressure as uninterested MO shareholders immediately sell off their stakes. Meanwhile, even though investors are widely expecting the Kraft news, it is likely to provide a further boost to Altria's share price.

Man Group plc (LON:EMG) said that it would be spinning off its brokerage arm through an initial public offering that could be one of the largest in Wall Street history. According to CNBC, the company has been interviewing investment banking firms to serve as underwriter for an IPO that could take place by the middle of this year, possibly as early as late spring.

US Airways Group Inc. (NYSE:LCC) said that it would stand by its Delta Airlines (OTC:DARLQ) deadline for its $9.87 billion takeover bid. Meanwhile, an unofficial group of Delta Air Lines creditors wants to postpone a February 7th bankruptcy hearing so that creditors can take a closer look at the offer.

Earnings Announcements
69 Positive, 0 Neutral, 40 Negative Expected

Axcelis Technologies, Inc. (NDAQ:ACLS) is expected to report earnings of $0.12 up 1,100% from last quarter's $0.01. The company's stock is up over 2% after-hours today prior to the announcement.

The Allstate Corporation (NYSE:ALL) said that its fourth quarter earnings rose 16.5%, but missed analyst estimates. The insurance company reported earnings of $1.78 per share, slightly less than the analyst consensus of $1.84 per share. The stock fell 2% after-hours.

SanDisk Corporation (NYSE:SNDK) reported higher than expected earnings of 87 cents per share, beating analyst estimates of 72 cents per share. The stock closed up 1.4% on the news today.

Daily Digest for January 29, 2007

SECInvestor.com — Mon, 29 Jan 2007 02:56:31 GMT

News and Events

NYSE Group, Inc. (NYSE:NYX) and the Tokyo Stock Exchange are expected to announce an alliance as early as Tuesday, according to media reports. The alliance would represent a preliminary step to creating the first stock exchange spanning North America, Asia, and Europe.

Prudential Financial, Inc. (NYSE:PRU) finally decided to unload its internet bank, Egg, to Citigroup for £575m. The sale marks an end to a long saga dating back to 2004 when the company attempted to sell the ailing division to both Royal Bank of Scotland and Citigroup.

Merrill Lynch & Co. Inc. (NYSE:MER) said that it had agreed to purchase First Republic Bank (NYSE:FRC) yesterday in a deal worth $1.8 billion - a 44% premium to stock's the prior close. Merrill Lynch said the move was intended to add wealthy clients to its member base. First Republic operates 43 branches and specializes in mortgages for luxury homes.

Verizon Communications, Inc. (NYSE:VZ) announced lower profits, saying that it would continue its aggressive strategy to sign-up more customers to its fiber-television service despite its high costs. Capital expenditures are expected to be approximately $1 billion more than expected as a result of the new strategy; however, the company is already seeing strong penetration into the video markets as a result.

Tesoro Petroleum Corporation (NYSE:TSO) announced a $1.63 billion acquisition of Royal Dutch Shell PLC's Los Angeles refinery in a deal that clearly pleased investors today. Analysts suggest that this acquisition will help boost its flagship presence in Los Angeles and add raise the quality of its asset base. The refinery is also expected to immediately and significantly increase its earnings.

Earnings Highlights
68 Companies Reporting: 28 Negative, 3 Neutral, 37 Positive

Stratex Networks, Inc. (NDAQ:STXN) is expected to report a 500% growth in earnings tomorrow with a consensus at $0.06 up from $0.01 last quarter.

O'Charley's Inc. (NDAQ:CHUX) is expcted to report a 271% growth in earnings tomorrow with a consensus at $0.26 up from $0.07 last quarter.

Con-way Inc. (NYSE:CNW) announced higher profits, supported by the sale of one of its business units. Earnings were down 23% from last quarter, however, as the company said its results are "not up to the standards our shareholders and employees have come to expect".

Sterling Bank Corp. (NYSE:STL) is expected to report a 22% decline in earnings growth with a consensus at $0.24 down from $0.31 last quarter.

Phelps Dodge Corporation (NYSE:PD) reported strong earnings growth of 173% but failed to surprise investors as their stock moved down 2.27% today. The copper producer noted that it was continuing to benefit from strong prices for copper and molybdenum, each of which reflects solid market fundamentals

Daily Digest for January 25, 2007

SECInvestor.com — Thu, 25 Jan 2007 02:56:56 GMT

Bristol-Myers Squibb Co. (NYSE:BMY) reported Q4 EPS of $0.19, three cents better than estimate. The company foresees a FY07 EPS of $1.20-$1.30, versus the consensus of $1.22.

Baxter International Inc. (NYSE:BAX) reported a Q4 EPS of $0.66, five cents better than estimates. Revenues were $2.8 billion versus the $2.72 billion consensus. For the first quarter 2007, the company expects organic sales to grow five to six percent, and earnings of $0.54 to $0.56 per diluted share. The current consensus is $0.53. The company expects earnings for full-year 2007 to be $2.47 to $2.53 per diluted share versus the consensus of $2.48.

Lockheed Martin (NYSE:LMT) reported Q4 earnings of $1.64 per share, eighteen cents better than the consensus. Revenues came in at $10.84 billion versus the consensus of $10.77 billion. The company predicts a FY07 EPS of $5.80-$6.00, versus prior guidance of $5.60-$5.80, with the consensus at $5.87.

AT&T Inc. (NYSE:T) reported a Q4 EPS of $0.61, two cents better than estimates. Revenues came in at $15.9 billion. The outlook was reaffirmed for continued double-digit adjusted earnings per share growth with growing free cash flow after dividends in 2007 and 2008; expected BellSouth merger synergies revised upward, estimated net present value increased from approximately $18 billion to approximately $22 billion.

Quest Diagnostics (NYSE:DGX) reported a Q4 EPS of $0.77, three cents better than estimates. Revenues were $1.5 billion versus the $1.57 billion consensus. For the full year 2007, the company expects results from continuing operations as follows: earnings per diluted share of between $2.70 and $3.00; and revenues of $6 billion to $6.2 billion. The current FY07 EPS consensus is $3.21 and the revenue consensus is $6.41 billion.

Lear (NYSE:LEA) reported a Q4 loss of $8.90 per share, which does not compare to the consensus of a $0.19 loss. Revenues came in at $4.28 billion versus the consensus of $4.14 billion. The company foresees FY07 revenues to be $15 billion versus the consensus of $16.3 billion.

SunPower Corporation (NDAQ:SPWR) reported a Q4 EPS of $0.18, one cent better than estimates. Revenues came in higher at $74.5 million versus the consensus of $71.85 million. The company predicts a Q1 EPS of $0.18-$0.20, and Q1 revenues to be $125 to $135 million. The guidance for the FY07 EPS is $0.90-$1.00 and FY07 revenues to be $640 to $670 million.

Nucor Corporation (NYSE:NUE) reported a Q4 EPS of $1.35 versus the consensus of $1.13. Revenues were $3.47 billion versus the $3.34 billion consensus.

Midwest Air Group, Inc. (AMEX:MEH) reported a Q4 EPS of $0.16, five cents better than estimates. Revenues were $168.3 million versus the $168.35 million consensus. For the full year of 2007, Midwest is projecting non-GAAP net earnings per diluted share to be in excess of $1.70. The current consensus is $0.89. Midwest is also projecting that 2007 revenues will exceed $825 million, with the current consensus of $746.6 million.

Brunswick Corporation (NYSE:BC) reported a Q4 EPS of $0.47 versus the consensus of $0.38. Revenues were $1.37 billion versus the $1.35 billion consensus. For 2007, the company is estimating earnings to be lower, in the range of $1.65 to $2.00 per share, with the current consensus at $2.11.

McKesson (NYSE:MCK) reported a Q3 EPS of $0.79, eleven cents better than estimates. The company foresees the FY07 EPS to be between $2.75-2.85 versus the $2.74 consensus.

MEMC Electronic (NYSE:WFR) reported a Q4 EPS of $0.68, nine cents better than estimates. Revenues were $420.5 million versus the $416.09 million consensus. The company predicts FY revenues of $1.9 billion and an EPS over $3.00 per share. The FY revenue consensus is $1.84 billion and the EPS consensus is $2.55.

Microsoft (NDAQ:MSFT) reported a Q2 EPS of $0.26, three cents better than estimates. Revenues were $12.54 billion versus the $12.08 billion consensus.

Callidus Software (NDAQ:CALD) reported a Q4 EPS of $0.00, five cents better than estimates. Revenues were $24.1 million versus the $20.4 million consensus. The company predicts Q1 revenues between $20.5 and $22 million, versus the $18.2 million consensus.

Synaptics (NDAQ:SYNA) reported a Q2 EPS of $0.32, three cents below the consensus of $0.35. Revenues were $76.1 million versus the $71.22 million consensus. The company foresees Q3 revenues between $58 and $61 million versus the $55 million consensus.

Columbia Sportswear (NDAQ:COLM) reported a Q4 EPS of $1.06, eight cents better than estimates. Revenues were $361.8 million versus the $357.20 million consensus.

Daily Digest for January 24, 2007

SECInvestor.com — Wed, 24 Jan 2007 07:20:09 GMT

Air Products (NYSE:APD) reported Q4 EPS of $1.03, ten cents better than estimates. Revenues were $2.43 billion versus the consensus of $2.29 billion. The company currently anticipates fiscal Q2 EPS in the range of $.98 to $1.03 per share. The current consensus is $0.98.

Corning Incorporated (NYSE:GLW) reported Q4 EPS of $0.31 Revenues were $1.37 billion versus $1.30 billion consensus. Corning said that it expects Q1 sales to be in the range of $1.26 billion to $1.31 billion and earnings per share in the range of $0.24 to $0.27. The current Q1 revenue consensus is $1.34 billion and EPS consensus is $0.28.

AmerisourceBergen (NYSE:ABC) reported Q1 earnings of $0.65 per share, nine cents better than the estimates. Revenues came in at $15.7 billion. The company foresees FY07 EPS of $2.45-$2.60 versus prior guidance of $2.40-$2.55 and the consensus of $2.50.

Bank of America (NYSE:BAC) announced a 200 million share buyback.

Energen Corporation (NYSE:EGN) reported Q4 EPS of $1.31 versus the consensus of $0.72. Revenues were $380.8 million versus $326.68 million consensus. Energen reaffirmed its 2007 earnings guidance range of $3.80 to $4.20 per diluted share. The current FY07 EPS consensus is $3.94.

Novellus (NDAQ:NVLS) reported Q4 EPS of $0.63, eight cents better than estimates. Revenues were $438.5 million versus $436.44 million consensus.

Symantec (NDAQ:SYMC) reported Q3 EPS of $0.26, one cent better than estimates. Revenues were $1.324 billion versus the $1.31 billion consensus. The company predicts Q4 Non-GAAP revenues of $1.25-$1.28 billion versus the consensus of $1.27 billion, with an EPS OF $0.18-$0.20 versus the consensus of $0.21. The company has also announced a $1 billion stock buyback plan.

Ariba (NDAQ:ARBA) reported Q1 EPS of $0.13, four cents better than estimates. Revenues were $77.2 million versus the $75.92 million consensus.

eBay (NDAQ:EBAY) reported Q4 EPS of $0.31, three cents better than estimates. Revenues were $1.72 billion versus the $1.67 billion consensus. The company predicts a FY07 EPS of $1.25-$1.29 versus the consensus of $1.23.

Textron (NYSE:TXT) reported Q4 EPS of $1.54, eight cents better than estimates. Revenues were $3.2 billion versus $3.10 billion consensus. The Q1 EPS is below guidance with $1.15-$1.25 versus the consensus of $1.36 . The company foresees a FY07 EPS of $5.90-$6.10 versus the consensus of $6.28.

Intersil (NDAQ:ISIL) reported Q1 EPS of $0.34, two cents better than estimates. Revenues were $181.1 million versus the $185.02 million consensus. The company sees the guidance for Q1 EPS of $0.27-$0.29 versus the consensus of $0.30, with Q1 revenues of $162-$168 million versus the consensus of $183.2 million.

Varian Inc (NDAQ:VARI) reported Q1 EPS of $0.61, thirteen cents better than estimates. Revenues were $217.9 million versus $207.94 million consensus. Also, the company announced a $100 million buyback.

Polycom (NDAQ:PLCM) reported Q4 EPS of $0.36, six cents better than estimates. Revenues were $186.5 million versus $180.56 million consensus.

Bottomline Technologies (NDAQ:EPAY) reported Q1 EPS of $0.10, eight cents better than estimates. Revenues were $29.7 million versus the $27.16 million consensus.

Plexus (NDAQ:PLXS) reported Q4 EPS of $0.32, one cent worse than estimates. Revenues were $381 million versus $390.40 million consensus. The company foresees a Q2 EPS of $0.15-$0.19, versus the consensus of $0.35, with Q2 revenues of $345-$355 million versus the consensus of $403.14 million.

Semitool (NDAQ:SMTL) reported Q1 EPS of $0.18, six cents better than estimates. Revenues were $68 million versus the $65.23 million consensus, while predicting a Q2 EPS of $0.02-$0.04 versus the consensus of $0.18. Q2 revs are to be $55-$57 million versus the consensus of $70.83 million.

Daily Digest for January 23, 2007

SECInvestor.com — Tue, 23 Jan 2007 04:25:04 GMT

EMC Corp (NYSE:EMC) reported Q4 earnings of $0.17 per share, one cent better than estimates. Meanwhile, revenues came in at $3.21 billion versus the consensus of $3.17 billion. The consolidated revenue for 2007 is expected to be at least $12.7 billion, versus the consensus of $12.65 billion. GAAP diluted earnings per share for 2007 are expected to be at least $0.64 versus a consensus of $0.63.

Tellabs (NDAQ:TLAB) reported Q4 non-GAAP EPS of $0.10, one cent better than estimates while revenues were down with $455 million versus the $463.7 million consensus. Tellabs expects the Q1 2007 revenue to be flat to slightly down from Q4 2006, in a range from $445 million to $455 million. The current consensus stands at $499.77 million.

Radiation Therapy Services, Inc. (NDAQ:RTSX) said that it now expects that Q4 2006 revenues will be in the range of $76 to $78 million, an increase from its previously stated guidance of $74 to $77 million. The consensus is $76.85 million. The company expects a Q4 2006 net income of approximately $7.2 million, or $0.30 per share as compared to previously stated guidance of $0.36 per share to $0.38 per share. The consensus stands at $0.36.

BlueLinx Holdings Inc. (NYSE:BXC) said that it expects to report a Q4 net loss in the range of $0.16 to $0.22 per diluted share, with a consensus of a $0.03 loss) on revenue of approximately $945 million. The consensus stands at $1.09 billion.

Johnson & Johnson (NYSE:JNJ) reported Q4 EPS of $0.81, two cents better than estimates. Meanwhile, revenues were $13.68 billion, equal to the consensus.

Energizer Holdings, Inc. (NYSE:ENR) reported Q1 EPS of $2.08 versus the consensus of $1.92. Meanwhile, revenues were $959.2 million versus $917.76 million consensus.

Avery Dennison (NYSE:AVY) reported Q4 earnings of $1.06 per share. Revenues came in at $1.41 billion versus the consensus of $1.4 billion. The company foresees FY07 EPS of $4.00 to $4.35 versus a consensus of $4.01.

Sun Microsystems, Inc. (NDAQ:SUNW) announced a $700 million private placement transaction with KKR Private Equity Investors, L.P., the publicly traded fund of Kohlberg Kravis Roberts & Co., one of the oldest and most experienced private equity firms. The investment will be in the form of $350 million of convertible senior notes due in 2012, and $350 million of convertible senior notes due in 2014. Closing of the investment is scheduled for January 26, 2007, and is subject to meeting customary closing conditions.

EZCORP (NDAQ:EZPW) reported Q1 EPS of $0.23, three cents better than estimates. Meanwhile, revenues were $91.7 million versus a $85.54 million consensus. For FY07, the company is raising their guidance to approximately $0.85 per share compared to $0.69 per share for fiscal 2006.

Hyperion Solutions (NDAQ:HYSL) reports Q2 EPS of $0.50, six cents better than estimates. Revenues were $222.9 million versus $212.35 million consensus. On a GAAP basis, the company currently expects total revenues in the range of $215 million to $220 million. The company also reported its updated outlook for fiscal year 2007. On a GAAP basis, the company currently expects total revenues in the range of $885 million to $895 million and diluted earnings per share in the range of $1.20 to $1.25, with the current FY revenue consensus at $859.18 million and the EPS consensus at $1.74.

Inter Parfums, Inc. (NDAQ:IPAR) said net sales for the final quarter of 2006 were approximately $90.3 million, or 37% ahead of the fourth quarter of 2005. The consensus is $76.43 million. The company is projecting 2007 net sales of approximately $365 million and net income of $20.4 million (2006 guidance is $16.9 million) or $1.00 per diluted share (the current consensus is $0.83).

HOKU Scientific (NDAQ:HOKU) reported a non-GAAP Q3 loss of $0.06, four cents worse than estimates. Meanwhile, revenues were $1.1 million versus a $1.15 million consensus. The company expects revenue for the fourth quarter ending March 31, 2007 to be in the range of $1.0 to $1.2 million, while the current consensus stands at $1.15 million.

Advanced Micro Devices Inc. (NYSE:AMD) reported Q4 loss of $0.04, versus a consensus $0.10 per share profit. Meanwhile, revenues came in at $1.77 billion versus the consensus of $1.73 billion. The company predicts Q1 revenues to be $1.6 to $1.7 billion versus a consensus of $1.82 billion.

Candela (NDAQ:CLZR) reported Q2 EPS of $0.04, eleven cents worse than estimates. Meanwhile, revenues were $37.4 million versus the $42.9 million consensus.

Quanta Services, Inc. (NYSE:PWR) has increased its revenue for the fourth quarter ended December 31, 2006. Q4 revenues are expected to range between $590 million and $600 million compared to the prior guidance range of $500 million to $525 million. The current consensus is $518.65 million. Q4 adjusted earnings per share results are now expected to range between $0.19 and $0.20 per diluted share, compared to prior guidance of $0.11 to $0.14 per diluted share. The current consensus stands at $0.08.

Yahoo! (NDAQ:YHOO) reported Q4 EPS of $0.16 (ex-items), three cents better than estimates. Revenues were $1.23 billion versus $1.22 billion consensus. The company predicts Q1 revenues between $1.12-1.23 billion versus $1.26 billion consensus, and FY07 revenues between $4.95-5.45 billion versus $5.47 billion consensus.

Centex (NYSE:CTX) reported a Q3 loss of $1.96, four cents better than estimates. Revenues were $3.28 billion versus $3.12 billion consensus.

Digital Music Group, Inc. (NDAQ:DMGI) is higher in after-hours action after the comapny disclosed they entered into an agreement with Apple Computer, Inc. (NDAQ:AAPL), pursuant to which DMGI appointed Apple as a reseller of audio-visual files owned and/or controlled by DMGI, including television programs, feature length movies, shorts, and specialty content, within the relevant territory, and granted Apple certain rights to market and promote DMGI's Video Content. Shares of Digital Music Group are up 39% to $5.29 in AH action.

Daily Digest for January 22, 2006

SECInvestor.com — Mon, 22 Jan 2007 01:20:22 GMT

Swift Transportation Co., Inc. (NDAQ:SWFT) entered into a definitive merger agreement with an entity formed by Jerry Moyes, the company's largest shareholder, a current Director, and former Chairman of the Board and CEO of Swift, pursuant to which Mr. Moyes and certain of his family members will acquire Swift in an all-cash transaction valued at approximately $2.74 billion. This includes the assumption of approximately $332 million of net debt. Under the terms of the agreement, Swift stockholders will receive $31.55 in cash for each outstanding share of Swift common stock.

Simtek Corporation (NDAQ:SMTK) announced that total revenue for the year ended December 31, 2006, is expected to be approximately $30.6 million, up 194%, compared to revenues of $10.4 million in 2005; meanwhile, the current FY revenue consensus is $29.94 million.

Central Garden & Pet Company (NDAQ:CENT) announced preliminary results for its FY Q1 with a net loss of twelve to fourteen cents per fully diluted share on sales of approximately $320 million. This compares to the previous guidance of approximately breakeven for the quarter; the current consensus stands at $0.00 and $335.78 million.

Pfizer (NYSE:PFE) plans to maximize revenues from its current in-line portfolio and new products. To expand future revenues, Pfizer will generate cost savings through site rationalization in research and manufacturing, streamlined organizational structures, staff function reductions, increased outsourcing and procurement savings. The company's cost reduction initiatives will result in the elimination of about 10,000 positions or about ten percent of Pfizer's total worldwide workforce by the end of next year. For 2007, Pfizer sees revenues comparable to 2006. The company is seeing an adjusted EPS of $2.18 to $2.25, up to $10B in common stock purchases. For 2008, Pfizer sees revenues comparable to 2006, with an adjusted EPS of $2.31 to $2.45.

StarTek, Inc. (NYSE:SRT) said total revenues are expected to be approximately $238 million for FY06, versus the consensus $243 million. Q4 revenues are expected to be approximately $59 million, versus the consensus of $64 million. The company expects fully diluted earnings per share in the range of $0.07 to $0.09 per share for the Q4 2006, versus the consensus of $0.16 and $0.38 to $0.40 per share for the full year, versus the consensus of $0.47.

Texas Instruments (NYSE:TXN) reports Q4 EPS of $0.39, one cent better than estimates. The company's revenues were $3.46 billion versus $3.43 billion consensus. They predict a Q1 EPS of $0.28 to $0.34, versus the consensus of $0.35, with a Q1 revenue of $3.01 to 3.28 billion versus the $3.30 billion consensus.

The board of directors of Gap Inc. (NYSE:GPS) and Paul Pressler announced today that they have mutually agreed that Mr. Pressler will step down from his position as president and CEO of the company, as well as resign his seat on the company's board, effective immediately. Robert J. Fisher, the company's current non-executive chairman of the board of directors, will also serve as president and CEO on an interim basis, effective immediately.

Carl Icahn discloses 6.73% stake in Temple-Inland Inc. (NYSE:TIN).

ViroPharma Inc. (NDAQ:VPHM) will replace Per-Se Technologies Inc. (NDAQ:PSTI) in the S&P SmallCap 600 after the close of trading on Thursday, January 25. Per-Se is being acquired by S&P 500 constituent McKesson Corp. (NYSE:MCK) in a deal expected to close on or about that date, pending final approvals.

Agree Realty Corp. (NYSE:ADC) will replace CentraCore Properties Trust (NYSE:CPV) in the S&P REIT Composite after the close of trading on Wednesday, January 24. CentraCore is being acquired by The Geo Group, Inc. (NYSE:GEO) in a deal expected to close on or about that date, pending final approvals.

Strategic Hotels & Resorts, Inc. (NYSE:BEE) will replace Reckson Associates Realty Corp. (NYSE:RA) in the S&P REIT Composite after the close of trading on Thursday, January 25. Reckson is being acquired by S&P REIT Composite constituent SL Green Realty Corp. (NYSE:SLG) in a deal expected to close on or about that date, pending final approvals.

Nutrition 21, Inc. (NDAQ:NXXI) announced that daily supplementation with Selenomax, the company's high selenium yeast product, suppressed progression of the human immunodeficiency virus (HIV-1) and improved immune cell CD4 counts in HIV-1 seropositive men and women. These findings are significant because boosting the immune system's CD4 cell count and suppressing viral loads (co-measurements of HIV progression and the goals of HIV treatment), can decrease the likelihood of developing complication of HIV disease and prolong life. Selenomax will be available first at CVS/pharmacy (NYSE:CVS) in all its 6,200 retail stores across the country, including PharmaCare Specialty Pharmacy locations.

Nitches, Inc. (NDAQ:NICH) reports Q1 EPS of $0.27 compared to $0.14 for the same period last year. Consolidated net sales for the Q1 FY07 increased 141% to $35.4 million versus $14.7 million for the first quarter of 2006.

Daily Digest for January 19, 2007

SECInvestor.com — Fri, 19 Jan 2007 01:15:11 GMT

Whittier Energy Corporation (NDAQ:WHIT) entered into a definitive merger agreement with Sterling Energy plc under which Sterling will acquire all of the outstanding shares of Whittier for $11.00 per share in cash.

Internet Commerce Corporation (NDAQ:ICCA) confirmed that it has sent a letter to Easylink Services Corporation (NDAQ:EASY) proposing to acquire all of the outstanding Class A common stock of Easylink for $5.00 per share in ICC stock and/or cash.

M/I Homes, Inc. (NYSE:MHO) reduced its annual earnings estimate to $2.50 to $3.00 per share after pre-tax impairment charges of between $65 and $75 million recordeded in the fourth quarter, in addition to the $2 million impairment recorded in the third quarter. The company also sees an additional $3 million write-off for Q4 and $7 million for the FY.

Capstone Turbine Corporation (NDAQ:CPST) said that it expects its fiscal third quarter 2007 revenue to exceed analysts' consensus. The company said it expects revenue for the quarter of approximately $5.7 million, exceeding analysts' consensus estimate of $3.6 million.

Brandes Investment Partners, L.P. announced it had reviewed the terms of the investment in the Scottish Re Group Limited (NYSE:SCT) recently proposed by Cerberus Capital Management, L.P. and MassMutual Capital Partners, LLC and agreed to by the board of directors of Scottish Re. In light of objections to the investment transaction, on January 11, 2006, Brandes, on behalf of its clients who own approximately 2.63% of Scottish Re shares, sent a letter to Scottish Re asking its Board to consider an alternative shareholder-backed rights offering.

Interpool, Inc. (NYSE:IPX) announced that the Special Committee of its Board of Directors has retained The Blackstone Group as the Special Committee's independent financial advisor in connection with the proposal from Martin Tuchman, its Chief Executive Officer and Chairman, supported by other significant Interpool stockholders and an investment fund affiliated with Fortis Merchant Banking, a division of Fortis, to acquire all of the outstanding common stock of the Company for $24.00 per share in cash. In addition, the Special Committee retained White & Case LLP to serve as independent legal counsel to the Special Committee.

EasyLink Services (NDAQ:EASY) announced that its Board of Directors has formed a committee of independent directors to evaluate strategic alternatives for EasyLink, which could include a potential business combination transaction. On December 22, the Company hired Americas Growth Capital as its financial advisor. As part of this process, numerous parties have expressed interest in potentially acquiring the business.

Glenn H. Nussdorf, a 12% stockholder in Parlux Fragrances, Inc. (NDAQ:PARL), announced that he had begun mailing materials to Parlux shareholders seeking their consent to the removal of all current Parlux directors and the election of himself and five other nominees in their place.

Daily Digest for January 18, 2007

SECInvestor.com — Thu, 18 Jan 2007 03:27:33 GMT

Corus Bankshares Inc. (NDAQ:CORS) will replace Digitas Inc. (NDAQ:DTAS) in the S&P SmallCap 600 index after the close of trading on January 24th. This comes after Digitas was acquired by S&P Global 1200 constituent Publicis Groupe SA in a deal expected to close on or about that same date, pending final approvals.

JDS Uniphase Corp. (NDAQ:JDSU) said that it sees Q2 revenues between $360 and $365 million, above their prior estimates ranging from $332 to $352 million and the consensus of $341.98 million.

Xilinx Inc. (NDAQ:XLNX) reported Q3 EPS of $0.26, which was 3 cents better than estimates. Meanwhile, revenues came in at $450.7 million versus a consensus of $451.17 million. The company said it sees Q4 revenues unchanged to down 5% versus Q3, which would be below the consensus of $472 million.

Corel (NDAQ:CREL) reported Q3 GAAP EPS of $0.37 (non-GAAP EPS is $0.52) versus a consensus of $0.43. Meanwhile, revenues in the fourth quarter of fiscal 2006 were $47.4 million, an increase of 4% over revenues of $45.6 million in the fourth quarter fiscal 2005.

IBM (NYSE:IBM) reported Q4 EPS of $2.26 versus a consensus of $2.19. Meanwhile, revenues were $26.26 billion versus a $25.67 billion consensus.

Capital One (NYSE:COF) reported Q4 EPS of $1.14 versus a consensus of $1.24. The company said it sees FY07 EPS between $7.40 and $7.80 versus an $8.11 consensus.

General Electric Company (NYSE:GE) and Abbott (NYSE:ABT) entered into a definitive agreement for GE to acquire Abbott's primary in vitro diagnostics businesses and Abbott Point-of-Care diagnostics business (formerly known as i-STAT) for $8.13 billion in cash.

Guess?, Inc. (NYSE:GES) raised its earnings per share guidance for the fourth quarter ended December 31, 2006 to a range of $0.91 to $0.93, versus previous guidance of $0.65 to $0.67 (consensus stands at $0.72). Meanwhile, the company raised its earnings per share guidance for the fiscal year ended December 31, 2006 to a range of $2.60 to $2.62, versus previous guidance of $2.34 to $2.36 (consensus stands at $2.41).

Briggs & Stratton Corporation (NYSE:BGG) reported a Q2 loss of $0.12, which was 7 cents worse than estimates. Meanwhile, revenues were $423.1 million versus a $466.46 million consensus.

Hastings Entertainment, Inc. (NDAQ:HAST) reported sales results for the two month holiday period ended December 31, 2006. At $127.7 million, total sales increased 2.0% over the same period in the prior year, but were lower than the company's internal projections.

Merrill Lynch & Co. Inc. (NYSE:MER) reported Q4 EPS of $2.41, above the consensus of $1.91. Meanwhile, revenues came in at $8.6 billion versus a consensus of $7.73 billion.

Daily Digest for January 17, 2007

SECInvestor.com — Wed, 17 Jan 2007 04:09:09 GMT

Emergency Medical Services Corporation (NYSE:EMS) announced earnings guidance for the 2007 fiscal year ending December 31, 2007. The company expects full year diluted earnings per share between $1.11 and $1.18 versus a consensus of $1.09.

Charming Shoppes, Inc. (NDAQ:CHRS) said consolidated net sales for the nine weeks ended December 30, 2006 increased 3% to $654.4 million. Meanwhile, consolidated comparable store sales for the company's retail store brands decreased 2% during the nine weeks ended December 30, 2006.

CACI International Inc (NYSE:CAI) expects revenue for FY07 to range between $1.875 billion and $1.950 billion versus a consensus of $2.02 billion. Meanwhile, diluted earnings per share is now expected to range between $2.45 and $2.65 versus a consensus of $3.00.

RIDEX Corporation (NDAQ:IRIX) said it completed the acquisition of the aesthetics business of Laserscope pursuant to the terms of the definitive agreement.

The Mills Corporation (NYSE:MLS) and Brookfield Asset Management Inc. (NYSE:BAM) announced today that The Mills has entered into a definitive agreement pursuant to which Brookfield will acquire The Mills for cash at a price of $21 per share, representing a total transaction value of approximately $1.35 billion for all of the outstanding common stock of The Mills and common units of The Mills Limited Partnership, and approximately $7.5 billion including assumed debt and preferred stock.

Quanex Corporation (NYSE:NX) expects to report fiscal first quarter 2007 diluted earnings per share from continuing operations in a range of $0.45 to $0.50 when it reports results on February 27, 2007. The current consensus stands at $0.42.

Parker-Hannifin (NYSE:PH) reports Q2 earnings of $1.55 per share, ex-items, above the consensus of $1.40. Meanwhile, revenues came in at $2.51 billion versus the consensus of $2.46 billion. Sees FY07 EPS of $6.35 to $6.75 versus prior guidance of $6.05-6.45 and the consensus of $6.38.

Daily Digest for January 16, 2007

SECInvestor.com — Tue, 16 Jan 2007 03:40:17 GMT

The Special Transaction Committee of the Board of Directors of Cablevision Systems Corporation (NYSE:CVC) rejected the $30 per share offer by the Dolan Family, calling the offer inadequate.

Spherion Corporation (NYSE:SFN) updated its previously issued revenue and earnings guidance for the fourth quarter of 2006. The company estimates revenue of approximately $501 million and earnings from continuing operations between $0.16 and $0.18 per share. The current Q4 revenue consensus is $508.42 million while the EPS consensus stands at $0.12.

Rackable Systems Inc. (NDAQ:RACK) announced their results for the fourth quarter ended December 30, 2006, with otal revenue for the fourth quarter of 2006 expected to be in the range of $105.5 to $106.8 million. The current consensus is $106.11 million. The GAAP net income for the period is expected to range from a net loss of $683,000 to net income of $194,000, or two cents to one cent per diluted share. Non-GAAP net income is expected to be in the range of $4.8 to $5.3 million, or $0.17 to $0.18 per diluted share. The current Q4 EPS consensus stands at $0.27.

Total System Services (NYSE:TSS) reported Q4 EPS of $0.44, better than estimates of $0.26. Revenues were $503.9 million versus a $439.50 million consensus. The total revenues for 2007 are expected to be between $1.691 and $1.725 billion versus a $1.7 billion consensus.

Intel Corp (NDAQ:INTC) reported Q4 EPS of $0.26 versus the consensus of $0.25. Revenues were $9.7 billion versus $9.44 billion consensus. Q1 revenues are expected to be $8.7 to $9.3 billion versus a $8.93 billion consensus.

Genesis HealthCare (NDAQ:GHCI) has entered into a definitive agreement to be acquired, in an all-cash transaction for $63.00 per share, by a joint venture between affiliates of Formation Capital, LLC and JER Partners. The per share price represents a premium of approximately 31% over the average closing price for GHC common stock over the past 30 trading days. The aggregate transaction value, including the assumption of approximately $450 million of debt, is approximately $1.7 billion.

Shares of InnerWorkings (NDAQ:INWK) are trading down over 10% after a negative article from Barron's this past weekend. However, InnerWorkings believes the column contains numerous factual errors and mischaracterizes our technology and business. Consequently, the company issued a press release last night to dispute the Barron's article.

Daily Digest for January 12, 2007

SECInvestor.com — Fri, 12 Jan 2007 22:31:34 GMT

Point Therapeutics, Inc. (NDAQ:POTP) provided preliminary results from the company's Phase 2 trial of talabostat plus gemcitabine in patients with metastatic pancreatic cancer who have not received prior chemotherapy. The promising results jumped the stock's price 21% to close at $1.03 per share.

AsiaInfo Holdings, Inc. (NDAQ:ASIA) announced it has recently signed a contract with China Unicom (NYSE:CHU) to develop its national CDMA push mail platform. The news moved ASIA up over 8% in today's trading.

Advancis Pharmaceutical Corporation (NDAQ:AVNC) announced total revenue for 2006 from sales of Keflex products was approximately $5 million, lower than prior expectations of $7 million to $10 million. Meanwhile, the current FY06 revenue consensus stands at $7.38 million.

AOL (NYSE:TWX) and Napster (NDAQ:NAPS), announced that Napster will become the exclusive music subscription provider integrated into AOL Music, replacing AOL Music Now. The news moved NAPS up over 7.8% in today's trading session.

BP (NYSE:BP) announced today that after more than a decade in the CEO role Lord Browne has decided to retire as chief executive at the end of June 2007.

Rogers Corporation (NYSE:ROG) projects fourth quarter net sales of approximately $122 million with guidance range of $122 to $126 million. Earnings for the fourth quarter are now projected to be $0.68 to $0.72 per diluted share, while the previous guidance was for earnings of $0.90 to $0.93 per diluted share. Meanwhile, the current consensus stands at $0.92 per share.

The IPO for Legacy Reserves LP (NDAQ:LGCY) opened for trading today at $19 before closing at $20.39.

ZEVEX International, Inc. (NDAQ:ZVXI) has executed a definitive merger agreement with Moog Inc. (NYSE:MOG.A) (NYSE:MOG.B). Upon the closing of the merger, each share of ZEVEX common stock that is issued and outstanding immediately prior to the closing, and each outstanding restricted stock unit that is convertible into shares of ZEVEX common stock, will be converted into the right to receive $13.00 in cash from Moog.

Stantec (NYSE:SXC) has signed a letter of intent to acquire Vollmer Associates LLP, a 650-person firm headquartered in New York City. Vollmer provides engineering, architecture, planning, landscape architecture, and survey services focused on the transportation sector, from offices throughout the northeast United States.

Owens-Illinois, Inc. (NYSE:OI) has retained advisors to review strategic options for its plastics packaging business, including a possible sale. For the twelve months ended September 30, 2006, O-I Plastics had revenues of approximately $770 million. OI stock moved up 7% on the news.

Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI) announced the acquisition of Valutec Card Solutions, Inc., of Franklin, Tenn. The company will continue to operate under the Valutec name, and will become a Metavante company.

Avaya Inc. (NYSE:AV) announced a tender offer to acquire Ubiquity Software Corporation plc (LSE:UBQ.L). The offer price is 37.3 pence in cash for each Ubiquity share. This values the entire issued and to be issued share capital of Ubiquity at approximately GBP 74.3 million (or approximately $144 million USD) after adjusting for the assumed proceeds from the exercise of options over Ubiquity shares.