Toyota Plans 10% Rise in Output

Seracare shares plunge; Town & Country Trust agrees to buyout; Nabi Biopharmaceuticals closes European operations; plus more stocks in the news Tuesday

Seracare Life Sciences (SRLS ) shares plummeted Tuesday after the company received a letter from its independent auditors, whereby concerns raised regarding the company's financial statements, accounting documentation, and ability to rely on representation of management. William Blair cut the shares to market perform.

General Motors (GM ) shares fell after news in the Wall Street Journal that Toyota Motor aims to lift its global output 10% next year to 9.06 million vehicles, a target that would move it closer to GM as the world's biggest car maker by production volume.

Nextel Partners (NXTP ) says Sprint Nextel agrees to buy remaining shares of the company it does not already own for $28.50 per share.

Town & Country Trust (TCT ) agrees to be acquired by a joint venture investment vehicle formed by affiliates of Morgan Stanley Real Estate and Onex Real Estate in a cash deal totaling about $1.3 billion, including debt assumption, or $33.90 per share.

Nabi Biopharmaceuticals (NABI ) says it has closed its operations in Europe. The cost of severance and the write off of depreciable assets, as well as the cancellation of any leases in Europe is expected to be approximately $1.3 million.

USEC (USU ) raises 2005 net earnings guidance to $27 million to $30 million on $1.55 billion in revenue. It says that given earlier delays, the company has been realigning its schedule for American Centrifuge deployment while continuing to meet Department of Energy milestones.

Angiodynamics (ANGO ) posted 13 cents vs. 9 cents second quarter earnings per share on a 30% sales rise. It reiterates fiscal year 2006 financial guidance of 26%+ net sales growth, to at least $76 million, and 48%+ net income growth, to $6.7 million, including a charge related to the Sarbanes-Oxley Act.

Factset Research (FDS ) posted 38 cents vs. 33 cents first quarter earnings per share on a 21% revenue rise. It sees $91 million to $93 million second quarter revenue. It also sees $18 millionn to $22 million fiscal year 2006 capital expenditures.

Chevron (CVX ) announces a significant new deepwater oil discovery, the deepest well ever drilled in the Gulf of Mexico, approximately 170 miles southeast of New Orleans.

American Financial Group (AFG ) sees $3.65 to $3.70 2005 EPS vs. guidance of $3.55 to $3.70. It cites the adverse effect from pending commutation and better-than-expected crop results, and sees $3.80 to $4.15 earnings per share in 2006. The company is to sell its Great American Life Assurance Co. of Puerto Rico unit.

Connetics (CNCT ) cuts its $47 million to $49 million fourth quarter revenue forcast to $41 milllion to $42 million. It cites the potential threat of generic acitretin and sees fourth quarter EPS of 37 cents to 40 cents, including 27 cents to 30 cents from tax assets. It sees 2006 revenue of $215 million to $218 million, as well as 15% 2007 revenue growth.

Neon Systems (NEON ) agrees to be acquired by Progress Software (PRGS ) in a $68 million deal, at $6.20 cash per Neon share. Progress posted a 33 cents vs. 28 cents fourth quarter EPS on a 12% revenue rise. It sees $103 million to $105 million first quarter fiscal year 2006 revenue, as well as 15 cents to 17 cents GAAP EPS, $435 million to $445 million fiscal year 2006 revenue, and 85 cents to 91 cents GAAP EPS.

Krispy Kreme (KKD ) says its wholly-owned Krispy K Canada Company has acquired substantially all assets of KremeKo Inc., Krispy Kreme's franchisee in eastern and central Canada.

All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report.
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