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Fannie Mae Reportedly Near Settlement

Toll Brothers posts higher earnings; plus more stocks in the news Tuesday

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European stock-exchange operator Euronext rebuffed an $11 billion takeover proposal from the Deutsche Boerse, calling new details of the bid misleading, saying a $10.2 billion offer by NYSE Group (NYX) remained more attractive, according to the Associated Press.

Fannie Mae (FNM) is expected to pay more than $400 million today as part of a settlement to resolve claims that executives manipulated earnings in the 1990s so they could receive bigger bonuses, according to the New York Times.

Toll Brothers (TOL) posts $1.06 vs. $1.00 second quarter earnings per share (EPS) on a 17% revenue rise. Based on estimated home deliveries, increased material, labor costs, and higher write-downs in the second quarter, it sees $4.69 to $5.16 in fiscal year 2006 EPS.

Wet Seal (WTSLA) posts 22 cents first quarter loss vs. 23 cents loss on a 20% same-store sales gain and 21% total sales rise. It notes that first quarter fiscal year 2007 EPS before items was 9 cents.

Brooks Automation (BRKS) says that on May 19 it received a grand jury document subpoena from the U.S. Attorney for the Eastern District of New York requesting records pertaining to the granting of stock options.

American Tower (AMT) receives a subpoena from the United States Attorney for the Eastern District of New York requesting documents related to the company's historical stock option practices.

VeriFone Holdings (PAY) posts 22 cents vs. 15 cents second quarter EPS on a 21% revenue rise.

Novellus Systems (NVLS) says it reviewed a Merrill Lynch report on options pricing in the semiconductor industry. It notes it also reviewed its process of granting options to executive officers named in the report, and found no irregularities.

Hansen Natural (HANS) signs the distribution agreement with Cadbury Bebidas, S.A. de C.V. for distribution of Monster Energy drinks in Mexico. Additional terms were not disclosed.

Boston Scientific (BSX) posts favorable results from an investigator initiated 1st human use experience, bench simulation study of its SpyGlass Direct Visualization System for single-operator duodenoscope assisted cholangiopancreatoscopy.

Mentor (MNT) posts 31 cents vs. 19 cents fourth quarter EPS (GAAP) on a 5.4% sales rise. It sees fiscal year 2007 sales of $290 million to $305 million, excluding positive impact potential Food and Drug Administration approval of the company's silicone gel breast implant PMA would have.

F5 Networks (FFIV) receives a grand jury subpoena issued by the U.S. District Court for the Eastern District of New York requesting documents related to granting of stock options from 1995 through the present.

Sycamore Network (SCMR) posts 4 cents third quarter earnings per share (EPS) vs. 4 cents loss (GAAP) on a 29% revenue rise. It says the SEC has commenced a formal investigation related to certain stock options granted by the company.

Fargo Electronics (FRGO) agrees to be acquired by ASSA ABLOY'S HID Global Corp. for $25.50 per share in cash.

Thor Industries (THO) posts 90 cents vs. 58 cents third quarter EPS on an 18% sales rise.

Fidelity National Title Group (FNT) reaches settlement with the Attorney General of the state of New York, ending nearly two years of industry-wide scrutiny. It says it is pleased the AG office found no pattern or practice of any wrongdoing on part of the company.

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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