Markets & Finance

MarketWatch Climbs on Acquisition News


MarketWatch (MKTW) shares moved higher after the investing website agreed to be acquired by Dow Jones (DJ) in a $519 million deal. The deal values each MarketWatch share at $18 cash.

Taser International (TASR) shares moved higher Monday after the company said its TASER technology was approved for trials by the South Korean National Police Agency for field tests. It also announces a successful presentation on TASER technology last week in Johannesburg, South Africa.

Lowe's (LOW) posted 66 cents, vs. 56 cents third-quarter earnings per share on a 5.2% same-store sales rise and a 16% total sales rise. The company sees 58 cents to 60 cents fourth-quarter earnings per share on a 4% to 5% same store sales rise and $2.69 to $2.71 fiscal 2005 earnings per share. The shares finished lower.

William Lyon Homes (WLS) shares surged after the company increased the size of its previously announced stock repurchase program to three million shares from two million. As part of its increased stock repurchase program, the company repurchased about 1.3 million shares.

Wrigley (WWY) plans to acquire Kraft's (KFT) Life Savers candy and Altoids breath mints businesses for nearly $1.5 billion.

Tyson Foods (TSN) posted 19 cents, vs. 42 cents fourth-quarter earnings per share, as higher selling, general and administrative costs offset a 7.6% revenue rise. The company sees $1.15 to $1.45 fiscal 2005 earnings per share and expects over 60% of earnings per share to occur in the last six months of the year.

Barnes & Noble (BKS) posted 9 cents, vs. 10 cents third-quarter earnings per share on a slight rise in same-store sales and a 4% total sales rise. The books retailer notes the company's portion of GameStop's third quarter reported today is based on 59% ownership interest.

E Trade (ET) reported 21% higher October retail daily avenue revenue trades (DARTs) from September, 35% higher professional retail DARTs, and 26% higher total DARTs.

Overstock.com (OSTK) plans to offer 1 million shares of stock, subject to the market and other conditions.

Northeast Utilities (NU) cuts $1.35 to $1.45 2005 earnings-per-share guidance to $1.10 to $1.25. The company cites lower outlook for its competitive business. S&P maintains its hold rating.

SPX Corp. (SPW) is to sell its fire detection systems business, Edwards Systems Technology, to GE Infrastructure, a GE unit, for $1.395 billion in cash.

Chiron (CHIR) says it successfully concluded its Phase III trial for Menjugate meningococcal C vaccine in the U.S., but it will not be filing a Biologics License Application due to the "changing landscape for meningococcal vaccines."

Federated Department Stores (FD) is looking to sell its credit-card portfolio for about $3 billion, according to the New York Post.

Halliburton(HAL) is to sell its 50% interest in Subsea 7 to its joint venture partner, Siem Offshore, for $200 million in cash. The sale is expected to result in a pre-tax gain of about $115 million.

CB Richard Ellis (CBG) filed for a proposed secondary public offering of 15 million Class A shares. He says the offer consists solely of shares to be offered by affiliates of Blum Capital Partners L.P. and other selling shareholders.


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