Already a Bloomberg.com user?
Sign in with the same account.
US Airways (UAIR
) hopes to announce a merger with America West Holdings (AWA
) this week. The companies are in advanced talks with potential equity investors to raise as much as $400 million and are also closing in on a loan deal with Airbus, according to the Wall Street Journal.
United Parcel Service (UPS
) agreed to acquire Overnite Corp. (OVNT
) for a total of $1.25 billion in cash.
) says results from its Pivotal Phase III Special Protocol Assessment (SPA) trials using REVLIMID in treatment of previously treated patients with relapsed or refractory multiple myeloma met primary endpoint of two studies.
) posted 74 cents, vs. 56 cents first-quarter earnings per share on 3.8% same-store sales rise and a 14% total sales rise. It sees $1.00 to $1.02 second-quarter earnings per share on a 4% to 6% same-store rise. The company sees $3.25 to $3.34 fiscal 2006 earnings per share on 5% same-store sales rise.
If the financial sector comes back into vogue and Citigroup (C
) can produce $4.21 in profits this year and perhaps $4.60 a share in 2006, its shares easily could top $55, for a total return to holders of about 25%, according to Barron's.
Limited Brands (LTD
) posted 6 cents, vs. 19 cents first-quarter earnings per share on a 5% same-store sales decline. The company sees 23 cents to 25 cents second-quarter earnings per share and $1.41 fiscal 2006 earnings per share.
American International Group (AIG
) plans to force out several senior executives in coming weeks, under pressure from regulators probing company's books, according to the Wall Street Journal.
) says its Phase II results of Omnitarg did not meet company's expectations. Results show the drug had limited activity as a single agent in ovarian, breast, and prostate cancers.
) says its experimental drug Sutent improved survival rates and reduced tumor growth in patients with stomach cancer.
Schering AG (SHR
) says Phase III results for PTK/ZK CONFIRM 1, a new oral targeted therapy designed to block growth of blood and lymphatic vessels, demonstrated positive effects in metastatic colorectal cancer combined with FOLFOX chemo.
JP Morgan reportedly downgraded Dow Chemical (DOW
) to neutral from overweight.
Wachovia downgrades Onyx Pharmaceutical (ONXX
) to underperform from market perform.
) posted 11 cents, vs. 9 cents first-quarter earnings per share on a sharp revenue rise.
TD Banknorth (BNK
) posted 18 cents, vs. 54 cents first-quarter earnings per share despite 88% rise in net interest income.
Wachovia upgrades Hot Topic (HOTT
) to outperform from market perform. JP Morgan upgrades to neutral from underweight.
PanAmSat Holding (PA
) posted a penny first-quarter earnings per share, vs. a 7-cent loss on a 1.6% total revenue rise.