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|  | JUNE 2, 2005 04:03 PM
 MARKET MOVERS Sun Microsystems Slips on Acquisition NewsEBay agrees to acquire Shopping.com; Continental Airlines gains; plus more of Thursday's stocks in the newsShares of Sun Microsystems (SUNW ) fell Thursday after the company agreed to acquire Storage Technology (STK ) for $37 per share cash and a deal valued at about $4.1 billion, including debt assumption of employee stock options. The company expects the transaction to be accretive to non-GAAP earnings per share in the first 12 months following closing. EBay (EBAY ) agreed to acquire Shopping.com (SHOP ) for $21 cash per share, a total of about $620 million. In a reported filing to the FDA, Biogen Idec (BIIB ) told the FDA about a possible fourth patient who may have contracted a potentially fatal disease after being treated with Biogen and Elan Corp.'s (ELN ) multiple schlerosis drug, which has been pulled from market, according to The Globe. Continental Airlines (CAL ) posted a May consolidated load factor of 79%, 4.7 points above last year's May consolidated load factor. S&P reiterates strong buy. Monster Worldwide (MNST ) sells its Yellow Pages unit to Audax Group. The company says the Monster Employment Index rose in May to record high of 134. S&P upgrades to sell from strong sell. Ryan Beck upgrades to outperform. JP Morgan upgrades Allergan (AGN ) to overweight from neutral. Yesterday the company received a written response from the FDA regarding its request for formal dispute resolution on its oral tazarotene capsule new drug application. Ingram Micro (IM ) reaffirms second-quarter guidance for 25 cents to 28 cents earnings per share on sales of $6.7 billion to $6.9 billion. S&P keeps buy. Sanofi-Aventis (SNY ) says the New England Journal of Medicine published results of a Phase III study that show adjuvant Taxotere showed a 28% reduction in the risk of relapse and a 30% reduction in the risk of death in certain node-positive breast cancer patients. Costco Wholesale (COST ) posted 5% higher May same-store sales and 8% higher net sales. Starbucks Corp. (SBUX ) posted 7% higher May same-store sales and 23% higher net revenues. Hot Topic (HOTT ) posted 1.9% lower May same-store sales and 15% higher total sales. Georgia Gulf Corp. (GGC ) sees 50 cents to 60 cents second-quarter earnings per share, vs. a year ago's $1.13. The company cites downtime associated with plant outages during the quarter and an expected decline in aromatics operating income. Aeropostale (ARO ) posted 4.9% lower May same-store sales and 16% higher total sales. Bebe Stores (BEBE ) posted 40% higher May same-store sales and 55% higher total sales. Based on fourth-quarter-to-date results, the company expects 17 cents to 19 cents fourth-quarter earnings per share vs. a previous 11 cents to 13 cents guidance. Saucony Inc. (SCNYB ) agrees to be acquired by Stride Rite (SRR ). Terms of the agreement give Saucony holders $23 in cash for each share of Class A and B stock held. Lehman reportedly upgrades Amkor Technology (AMKR ) to equal-weight. Pier 1 Imports (PIR ) posted 7.7% lower May same-store sales and 2% lower total sales. The company posted 12% lower first-quarter same-store sales and 6.1% lower total sales. It says the company is disappointed with May sales. S&P cuts estimates, keeps hold. Abercrombie & Fitch (ANF ) posted 29% higher May same-store sales and 43% higher total sales. S&P reiterates buy.  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. Standard & Poor's Regulatory Disclosure Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc. Get BusinessWeek directly on your desktop with our RSS feeds.  Add BusinessWeek news to your Web site with our headline feed. Click to buy an e-print or reprint of a BusinessWeek or BusinessWeek Online story or video. To subscribe online to BusinessWeek magazine, please click here. Learn more, go to the BusinessWeekOnline home page  | | |
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