) appointed CFO James Bell as President and CEO on an interim basis, replacing Harry Stonecipher who was asked to resign due to his personal relationship with a female Boeing executive who did not report directly to him.
Sony Corp. (SNE
) gains after CEO Nobuyuki Idei resigned and handed reins to Howard Stringer, head of U.S. operations, according to the Wall Street Journal.
Qualcomm Inc. (QCOM
) cuts $1.35 billion to $1.45 billion second-quarter revenue forecast to $1.35 billion to $1.40 billion on GAAP basis, but raises 24 cents to 26 cents earnings per share forecast to 25 cents to 27 cents (both including a penny loss attributable to the QSI segment). S&P reiterates strong buy.
Insiders at Martha Stewart Living (MSO
) sold nearly 5 million Martha Stewart shares compared with total purchases of 500,000, according to Barron's.
) is to sell up to 82 million shares of Genworth Financial (GNW
) through a secondary public offering and a sale to Citigroup Global Markets, an affiliate of which intends to conduct public offering of security exchangeable for Genworth shares.
Cisco Systems (CSCO
) rises after having slimmed to a market p-e. The tech giant may start attracting new crowd: value investors, according to Barron's.
Capital One Financial (COF
) agreed to acquire New Orleans-based lender Hibernia Corp. (HIB
) in a cash and stock deal valued at $5.3 billion. Terms of the agreement give cash or Capital One stock valued at $15.35, plus the value at closing of 0.2261 Capital One Share, giving a total per-share value of about $33 per Hibernia share.
Medarex Inc. (MEDX
) and Bristol-Myers (BMY
) announced results of an early clinical study with investigational fully human anti-CTLA-4 antibody, MDX-010, in which eight of 36 patients with metastatic melanoma experienced objective clinical responses.
Marvel Enterprises (MVL
) posted 27 cents, vs. 12 cents fourth-quarter earnings per share on a 17% sales rise. The company sees 25 cents to 29 cents first-quarter earnings per share, abd $1.07 to $1.12 2005 earnings per share.
Royal Caribbean (RCL
) signs a letter of intent with Aker Finnyards in Finland to add a third ship to its Freedom class of vessels now being built for Royal Caribbean. The company estimates the cost of the third ship at $230,000 per berth, at current exchange rates.
Boston Scientific (BSX
) says 9-month results from the Taxus V clinical trial, confirming safety and efficacy of Taxus Express2 paclitaxel-eluting coronary stent system for treatment of coronary artery disease, met its primary and secondary endpoints.
Banc of America upgrades AnnTaylor (ANN
) to buy from neutral.
Celgene Corp. (CELG
) says an external Independent Data Monitoring Committee analyses of both Phase III Special Protocol Assessment multiple myeloma trials of Revlimid exceeded pre-specified p
Prudential upgrades Talbots Inc. (TLB
) to overweight from underweight.
Vascular Solutions (VASC
) receives approval from the Japanese Ministry of Health and Labor & Welfare for the Pronto extraction catheter, which is designed for mechanical aspiration removal of acute thrombus from the arterial system.
Piper Jaffray reportedly downgrades Research In Motion (RIMM
) to market perform from outperform.
Walter Industries (WLT
) ups 2005 earnings per share guidance by 30 cents to $2.50 to $3.10. The company cites better-than-expected pricing on Jim Walter Resources' metallurgical coal contracts.
Maxcor Financial Group (MAXF
) says it is holding preliminary discussions with a potential acquirer.