XL Capital (XL) shares fell sharply Friday after the company received a report regarding a dispute on its acquisition of certain Winterthur International insurance operations, and could record an $830 million loss in the fourth quarter. Sandler O'Neill downgraded the shares to hold from buy. Merrill reportedly downgraded its rating.
Northwestern (NWEC) received a request from Black Hills to commence merger negotiations where Northwestern shareholders would receive $33 to $35 per share in common stock of the combined company.
Taser International (TASR) says that due to a delay in filing its third quarter 10-Q, it received a letter from the NASDAQ indicating its stock is subject to delisting pursuant to the NASDAQ Marketplace Rule.
Offshore Logistics (OLG) says it will restate its consolidated financial statements for fiscal year 2000, fiscal year 2001, fiscal year 2002, fiscal year 2003, fiscal year 2004, the quarterly periods in fiscal year 2005, and results for fiscal year 2005.
Fairfax Financial (FFH) estimated aggregate potential net losses relating to Hurricane Wilma at $200 million before tax and minority interests; or approximately $112 million after tax and minority interests.
Lionbridge Technologies(LIOX) filed to offer 9.4 million shares.
Trimeris (TRMS) and Roche received a Food and Drug Administration approvable letter in response to their request for inclusion of information about a Biojector 2000 needle-free injection device in FUZEON labeling, whereby the FDA requests additional information.
Odyssey Re Holdings (ORH) said its loss from Hurricane Wilma during the fourth quarter, net of applicable reinsurance and reinstatement premiums, is expected to be $125 million before taxes, which represents after-tax net loss of $81 million.