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International Business Machines (IBM
) receives a request to voluntarily comply with an informal investigation by the staff of the SEC concerning IBM's disclosures relating to IBM's first-quarter earnings per share and expensing of equity compensation.
Advanced Micro Devices (AMD
) files an antitrust suit against Intel (INTC
) alleging Intel has an unlawful monopoly in the x86 microprocessor market.
SeeBeyond Technology (SBYN
) agrees to be acquired by Sun Microsystems (SUNW
) for $4.25 per share.
Bowne & Co. (BNE
) agrees to sell Bowne Global Solutions to Lionbridge Technologies (LIOX
) for at least $180 million.
) raises 2005 earnings per share guidance to $2.80 to $2.90. The company cites high single-digit revenue growth, lower-than-expected growth in several expense items, and favorable tax developments.
) says it would pay $7.29 million (4 million pounds) to the UK Financial Services Authority relating to European government bond and bond derivative trading. The company agrees to give up about $18.15 million (9.96 million pounds) in profits from the Aug. 2, 2004 trade.
Goldman downgrades Seagate Technology (STX
) to underperform.
Lexington Corporation (LXP
) forms a partnership with Pitcarin, a real estate investment, development and mgmt company. Through partnership, it acquires a controlling interest for about $59 million in a joint venture that owns 6 Penn Center in Philadelphia, Pa.
Interpublic Group (IPG
) announces CFO Robert Thompson has decided to leave the company. In Form 8-K, the company discloses preliminary financial analysis currently indicates a likely moderate drop in first-quarter revenue and higher operating expenses.
Cubist Pharmaceuticals (CBST
) says its Phase 3 Staphylococcus aureus endocarditis and bacteremia trial of Cubicin at 6 mg/kg once daily met its primary endpoints of non-inferiority in intent-to-treat, per protocol populations.
) says there is no evidence of increased risk of blindness among patients taking Viagra. However, the company is in talks with the FDA to update its Viagra label to reflect rare reports of non-arteritic anterior ischemic optic neuropathy.
) posted 27 cents, vs. 16 cents fourth-quarter earnings per share on a 15% revenue rise. The company sees 11% to 12% fiscal 2006 revenue growth. It expects net income growth of 18% to 20%, assuming no change to interest rates.
Boston Scientific (BSX
) issues worldwide, voluntary recall of all Hemashield Vantage Vascular Grafts, which are used in peripheral procedures, made in the last two years, due to potential of device to fray or tear during suturing.
CKE Restaurants (CKR
) posted lower-than-expected 24 cents, vs. 17 cents first-quarter earnings per share on 2.4% higher same-store sales at company-operated Carl's Jr. restaurants and flat comparable sales at Hardee's.
CBRL Group (CBRL
) expects fourth-quarter revenue and earnings per share to be at the low end of previously announced range of 9% to 11% growth and 73 cents to 76 cents earnings per share, respectively.
Kemet Corp. (KEM
) announces a workforce reduction that will impact about 150 jobs worldwide. The reduction will result in a special charge of about $4 million in the first quarter.
Apollo Group (APOL
) posted 77 cents, vs. 56 cents third-quarter earnings per share on a 25% revenue rise. The company sees 67 cets fourth-quarter earnings per share (excluding items) on $605 million to $620 million in revenue.
Sonic Solutions (SNIC
) says its DigitalMedia Plus application suite is being shipped on HP desktop PCs, providing end-to-end media solution for its PC users that includes DVD playback, video editing and DVD creation, music, and data mastering.