Markets & Finance

Cognos Climbs


Business software maker Cognos (COGN) posted 50 cents, vs. 33 cents fourth-quarter earnings per share on a 23% revenue rise. Cognos sees 19 cents to 50 cents first-quarter earnings per share on $169 million to $171 million in revenue, and sees $1.18 fiscal 2005 earnings per share. The company named Rob Ashe as CEO, replacing Ron Zambonini. Schwab SoundView reiterated its outperform rating.

Myogen (MYOG) says the primary endpoint of its heart-failure drug did not reach statistical significance. CS First Boston downgraded to neutral from outperform. Lazard Freres downgraded to hold from buy.

Resources Connection (RECN), a placement firm, posted 24 cents, vs. 12 cents third-quarter earnings per share on a 78% revenue rise. JMP Securities upgraded to market outperform from market perform.

EchoStar Communications (DISH), the No. 2 U.S. satellite TV broadcaster, posted 1 cent fourth-quarter earnings per share (basic), vs. a 45 cents loss on stronger than expected new subscriber growth.

Albertson's (ABS), the No. 2 U.S. grocer, agreed to acquire the U.S. supermarkets of J. Sainsbury Plc, Britain's third biggest grocer, for $2.5 billion.

Men's Wearhouse (MW) reduced previously reported fiscal 2004 earnings per share to $1.17 from $1.33, and cut its fourth-quarter estimate to 49 cents, from 55 cents. The men's retailer cited costs that it expects to incur in connection with wage and hour litigation in California.

Sharper Image (SHRP) raised its first-quarter earnings per share guidance to the 10 cents to 12 cents range due to strong sales trends to-date. As a result, the retailer raised the fiscal 2005 estimate to a range of $1.99 to $2.03.

Georgia Gulf (GGC) expects first-quarter earnings per share to exceed 50 cents, citing higher margins and volumes for vinyl resins and vinyl chloride monomer.

Yahoo (YHOO) agreed to acquire Kelkoo S.A., Europe's leading online comparison shopping service, for 475 million euros ($574 million) in cash, subject to adjustments.

Mylan Labs (MYL) says a court ruled that its generic pain-relief patch, Duragesic, violated a patent held by Johnson & Johnson (JNJ).

Sylvan (SYLN) posted 14 cents, vs. 25 cents fourth-quarter earnings per share as higher costs offset a 6.7% sales rise.

Sterling Financial (STSA) will be added to the S&P SmallCap 600 after the close of trading Mar. 31, replacing Ryland Group (RYL), which is being added to the S&P MidCap 400.

ETrade Financial (ET) will be added to the S&P 500 after the close of trading Mar. 31, replacing FleetBoston Financial (FBF), which is being acquired by Banc of America (BAC).


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