) received approval from the Nasdaq to list its securities on the Nasdaq National Market. The shares are currently listed on the Nasdaq SmallCap Market. The "phase-up" to the National Market is expected to occur Wednesday, Aug. 18
Needham upgraded Corning (GLW
) to strong buy from buy on solid demand in the liquid-crystal-display glass business.
Nobility Homes (NOBH
) is seen higher on an expected increase in the mobile-home manufacturing business after the destruction of Hurricane Charley over the weekend. Champion Enterprises (CHB
) and Fleetwood Enterprises (FLE
) are also higher.
Roth Capital upgraded Isle of Capri (ISLE
) to strong buy from buy. On Friday the company posted 34 cents Q1 EPS.
LifePoint Hospitals (LPNT
) agreed to acquire Province Healthcare in a $1.7 billion deal. Terms: $11.375 cash and 0.2917-0.3447 share of the newly formed company for each Province share. J.P. Morgan downgraded LifePoint to underweight from neutral. S&P also downgraded the shares.
Ciphergen Biosystems (CIPH
) announced the discovery of biomarkers, the development of a multi-marker pattern assay that shows promising results in the detection of early-stage ovarian cancer.
Piper Jaffray cut Sohu.com (SOHU
) estimates. On Friday, the company said China Mobile suspended Sohu as a supplier of mobile multimedia-picture services for one year, effective Sept. 1.
) reportedly still sees August same-store sales up 2% to 4%.
Retailer KMart Holding (KMRT
) posted $1.54 second-quarter earnings per share, vs. a 6-cent loss despite 15% lower same-store sales and 15% lower total sales.
) posted lower-than-expected 89 cents, vs. 75 cents second-quarter earnings per share on 5.1% higher same-store sales and a 17% net sales rise. The home-improvement retailer sees 65 cents to 66 cents third-quarter earnings per share, 3% to 4% higher same-store sales, and 15% higher total sales. It expects $2.69 to $2.71 fiscal 2005 earnings per share. CIBC World reiterates sector outperform. S&P reiterates accumulate.
Hospitality-services company Sysco (SYY
) posted 43 cents, vs. 37 cents fourth-quarter earnings per share on a 17% sales rise. S&P maintains buy. BB&T Capital downgraded to hold from buy.
St. Paul Travelers (STA
) is seen possibly lower with other insurers on liability exposure to claims from Hurricane Charley.
) posted 46 cents, vs. 3 cents second-quarter EPADS on a 63% sales rise.
A U.S. District Court rejected the Federal Trade Commission's request for a preliminary injunction blocking Arch Coal's (ACI
) acquisition of Triton Coal.