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During the past 20 years, the author has watch China move from being a developing country into an industrial superpower
Money Moves, 5/24: Chocomize Co-Founder Fabian Kaempfer talks with Bloomberg’s Deirdre Bolton about the business of customizing chocolate
The president's campaign has a new rule—no cell phones allowed
In honor of remote control inventor Eugene Polley, we recognize other influential but neglected inventors who have felt the sting of stolen glory
Adam Johnson talks about what trading vehicles can help you earn more money per trade
The Italian automaker and others are adding hybrid technology to elite cars
The storied bridge that links San Francisco and Marin County changed the face of California
Schools cultivate ties with startups before they're big successes
Dave McClure's traveling venture capital show scours the world for promising startups
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|  | MARCH 15, 2005 01:32 PM
 MARKET MOVERS AIG Announces Management Moves Genentech shares move higher for second day; Lehman posts higher earnings; plus more of Tuesday's stocks in the news American International Group (AIG ) elects Martin Sullivan as President and CEO, Donald Kanak as Executive Vice Chairman and COO, focusing on Asia, and Steven Bensinger Executive Vice President and CFO. The company delays its 10-K due to management changes and an ongoing internal review of certain accounting matters. Shares of Genentech (DNA ) continued higher after Monday's spurt. Piper Jaffray and Jefferies each upgraded the shares. S&P reiterated its strong buy opinion. On Monday, the company said interim analysis of Avastin plus chemotherapies study in lung cancer met primary endpoint. Lehman Bros. (LEH ) shares moved higher after the company posted $2.91 vs. $2.21 first-quarter EPS on 21% higher net revenues. Lehman notes that investment banking revenues rose 34% to a record $683 million. Sears, Roebuck (S ) reportedly is looking for a buyer for the Lands' End catalog company for a price below the $1.9 bilion it paid for the company in 2002. Applied Material (AMAT ) reportedly says sales to customers in China would fall in 2005 from almost $1 billion last year, as mainland chip makers cut spending. Tivo Inc. (TIVO ) is in advanced talks with cable giant Comcast Corp. (CMCSA ) about a partnership that could greatly expand Tivo's audience, according to the Wall Street Journal. Giant Industries (GI ) posted 6 cents, vs. 18 cents fourth-quarter earnings per share as lower refining margins and lower throughput volumes offset a 50% revenue rise. The company says first-quarter refining fundamentals were not as robust as last year and fuel margins within Retail operations have contracted. Comverse Technology (CMVT ) posted 10 cents, vs. 2 cents fourth-quarter earnings per share (GAAP) on a 28% sales rise. Conceptus Inc. (CPTS ) posted a 25-cent fourth-quarter loss, vs. a 41-cent loss on a 61% sales rise. The company expects it will file on Form 12b-25 with SEC Notification of Inability to Timely File Form 10-K for 2004. Protein Design (PDLI ) posted a 15-cent fourth-quarter loss, vs. a 78-cent loss on a 68% revenue rise. The company sees 18-cent to 34-cent 2005 loss (non-GAAP) on revenue of about $250 million to $260 million. Liberty Media (L ) is to spin-off to shareholders a separate company comprised of its ownership interests in Ascent Media Group and Discovery Communications in a new publicly-traded company, Discovery Holding Co. FDA grants marketing clearance for Gen-Probe Inc.'s (GPRO ) Aptima assay for Neisseria gonorrhoeae, an amplified nucleic acid test that detects, on a standalone basis, bacterium that causes one of the most common sexually transmitted diseases. Rayovac Corp. (ROV ) is to acquire Tetra Holding GmbH for 415 million euro. Albertson's (ABS ) posted 52 cents, vs. 35 cents fourth-quarter earnings per share on a 5.3% rise in total company same-store sales and a 29% total sales rise. The company says it is not pleased with its fourth-quarter performance. It sees $1.33 to $1.43 fiscal 2006 earnings per share from continuing operations.  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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