) posted a 9-cent second-quarter loss vs. a $1.63 loss (excluding discontinued operations) as higher gross margin, and lower selling, general, and administrative expenses offset a 21% sales decline.
) raised the third-quarter EPS guidance to 30 cents to 33 cents, citing better han expected trends in most income statement lines. S&P reiterates hold.
Boston Scientific (BSX
) confirmed its drug-eluting stent Taxus is not on the FDA's October panel agenda. CIBC World views weakness in Boston Scientifi shares as a buying opportunity.
UBS Financial upgraded Tekelec (TKLC
) to buy from neutral.
) posted 9% higher August same-store sales, and 26% higher total sales.
), a chip-equipment maker, stood by its quarterly financial targets but warned of a $70 million charge that will deepen its net loss.
JNI Corp. (JNIC
) agreed to be acquired by Applied Micro Circuits in a $190 million deal. Terms: $7 cash per JNI share.
J.P. Morgan reiterates its overweight rating on Biovail .
Stratos Lightwave (STLW
) posted a 56-cent first-quarter loss vs. 89 cents earnings per share (non-GAAP) on 35% lower revenue. CIBC World cut its estimates.
Metal Storm (MTSX
) and the New Jersey Institute of Technology are in a formal partnership agreement to jointly commercialize Metal Storm's O'Dwyer VLe electronic handgun with NJIT's patented Dynamic Grip Recognition biometric authorizing technology.
). The FDA approved Biovail and GlaxoSmithKline 's (GSK
) once-daily Wellbutrin XL for the treatment of major depressive disorder in patients 18 and older. Wellbutrin XL is a longer-lasting version of Glaxo's twice-daily Wellbutrin SR.
Imperial Sugar (IPSU
) will receive $1 million relief in Louisiana state taxes to expand packaging capability at its refinery in Gramercy, LA.
Florida East Coast (FLA
) set a $1.50 special dividend, and set a $75 million stock buyback.
First American (FAF
) raised the 10 cents quarterly dividend to 15 cents.
US Bancorp Piper Jaffray issued a bullish comment on Yahoo (YHOO
UBS raised its fiscal 2004 and 2005 GAAP estimates for Qualcomm (QCOM
) to $1.20 per share from $1.16 and to $1.40 from $1.37, respectively. USB also hiked the 2-month price target by $5 to $38.