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Boston Scientific (BSX
) says a U.S. District Court jury in Delaware found that Johnson & Johnson's (JNJ
) CYPHER drug-eluting stent infringes a Boston Scientific patent, and that J&J's Cypher, Bx Velocity, Bx Sonic, and Genesis stents infringe a second Boston Scientific patent.
Exxon Mobil (XOM
) sells oil-producing properties in the Permian Basin of West Texas and New Mexico to XTO Energy (XTO
) for $215 million.
) says June same-store sales growth for U.S. is estimated to be 4.5%, vs. its previous guidance of 2% to 4%. Strength was seen in seasonal merchandise sales. Oppenheimer reportedly upgrades to buy from neutral.
) cuts second-quarter guidance to a loss of 6 cents to 8 cents (GAAP) on revenue of $46 million to $47 million. The company cites customer delays and projects the second half of 2005 to be "better than first half". S&P keeps strong buy.
) says it was awarded contracts to supply technology products across three major categories (desktops, notebooks, and displays) to the government of California.
Bausch & Lomb (BOL
) is to acquire a 55% interest in Shandong Chia Tai Freda Pharmaceutical Group, the leading ophthalmic pharmaceutical company in China, from Sino Biopharmaceutical Ltd. for $200 million cash. Bausch & Lomb agrees to buy an additional 15% interest in the future.
CS First Boston downgrades KB Home (KBH
) and M.D.C. Holdings (MDC
) to underperform from neutral and also downgrades Ryland Group (RYL
) to neutral from outperform.
Mohawk Industries (MHK
) plans to acquire Belgium-based Unilin Holding NV for about $2.6 billion (2.2 billion euro). Unilin had annual sales in Belgian GAAP of about $1 billion (837 million euro) and EBITDA margins of 29%.
Legg Mason upgrades Amazon.com (AMZN
) to buy from hold.
Deutsche Telekom (DT
) is exploring whether to sell its U.S. wireless operation, T-Mobile USA, which could fetch as much as $30 billion, according to the Wall Street Journal.
Procter & Gamble's (PG
) deal to acquire Gillette (G
) may be getting more scrutiny from the EU, according to CNBC.
Mercury Interactive (MERQ
) cuts second-quarter guidance to 30 cents to 35 cents earnings per share (non-GAAP) on revenue of $200 million to $205 million from 33 cents to 37 cents earnings per share on $205 million to $215 million in revenue. The company cites a shortfall in Europe. It is to conduct an internal investigation of past stock option grants.
) cuts second-quarter guidance to a loss of 6 cents to 8 cents (GAAP) on revenue of $46 million to $47 million. The company cites customer delays and projects second-half of 2005 to be "better than first half."
Bear Stearns upgrades Deere & Co. (DE
) to outperform from underperform.
Young Broadcasting (YBTVA
) sees 2005 net revenue of $200 million to $204 million and station operating performance (non-GAAP measure) of $40 million to $42 million. The company notes continued weakness in the San Francisco market, in its national sales across the country.
Omnicare, Inc. (OCR
) agrees to purchase substantially all of the assets of RxCrossroads L.L.C., a provider of specialty pharmaceutical services, for $235 million in cash.
Able Laboratories (ABRX
) postpones its scheduled 2005 annual meeting of stockholders.