Markets & Finance

Boston Scientific Bids for Guidant


Boston Scientific (BSX) offers to acquire Guidant (GDT) in a deal in which Guidant holders get a combination of cash and stock worth $72 per share. The offer represents a premium of about 14% over the $63.43 value proposed by Johnson & Johnson (JNJ).

NTL (NTLI) confirms it has proposed to acquire Virgin Mobile, at 0.09298 NTL shares per Virgin Mobile share or GBP 323p cash per Virgin Mobile share.

Lexar Media (LEXR) The California superior court granted Toshiba's motion for a new trial and orders a limited new trial regarding damages awarded in Lexar v. Toshiba Corp. et al., on the basis of insufficient evidence to support damages awarded by the jury.

Verizon Communications (VZ) is reviewing strategic alternatives for domestic operations of its wholly owned directories publishing business, Verizon Information Services. It is looking into divesting its unit through a spin-off, sale or other transaction.

Liberty Media offers to acquire Provide Commerce (PRVD) for $477 million, at $33.75 cash per Provide Commerce share.

Sears Holdings (SHLD) proposes to acquire all outstanding shares of Sears Canada, other than those it already owns, for C$16.86 per share cash after distribution to shareholders of C$18.64 per share announced last Friday.

Monsanto (MON) raises first quarter earnings per share guidance to 20 cents; it cites stronger-than-expected results for cotton traits in Australia and Roundup herbicides in Europe and the U.S.

E.W. Scripps (SSP) sees 48 cents to 50 cents fourth quarter earnings per share vs. previous 52 cents to 56 cents guidance. It cites softening sales at Shop At Home and the initial effects of hurricane on newspaper and t.v. station ops.

Yellow Roadway (YELL) sees $5.18 to $5.23 2005 and $1.30 to $1.35 fourth quarter earnings per share, consistent with previously issued guidance. It says absolute business volumes are healthy and remain consistent with earlier expectations.

Comstock Homebuilding Companies (CHCI) sees $1.01 to $1.10 fourth quarter earnings per share and $2.50 to $2.60 2005 earnings per share. It also sets a one million share buyback.

Lions Gate Entertainment (LGF) sees $35 million fiscal year 2006 earnings before interest taxes depreciation and amortization, or EBITDA, and $15 million net income. It reaffirms guidance for $100 million fiscal year 2006 free cash flow and $850 million revenue.

Alliance Imaging (AIQ) sees $138 million to $146 million 2006 adjusted EBITDA on $428 million to $438 million revenue. It says scan volumes are projected to continue to experience soft same-store growth.

Noven Pharmaceuticals (NOVN) The Food and Drug Administration committee votes unanimously in favor of the efficacy of the company's transdermal ADHD drug, and unanimously in favor of its safety. By vote of 11:1 the FDA rejected the proposal to limit use of the product to patients who cannot use oral products.

WGL Holdings (WGL) sees 80 cents to 86 cents first quarter earnings per share and $1.85 to $1.95 in fiscal year 2006, including projected earnings from its unregulated businesses of 5 cents to 7 cents and 15 cents to 19 cents, respectively.

Copart (CPRT) posted 25 cents vs. 24 cents first quarter earnings per share on a 14% revenue rise. It says results were adversely affected by additional costs incurred due to hurricanes Katrina and Rita. It says enactment of pending legislation in Louisiana could hurt margins.

Jos. A. Bank Clothiers (JOSB) posted 32 cents vs. 22 cents third quarter earnings per share on a 14% same-store sales rise and 28% total sales rise.

Atwood Oceanics (ATW) posted 45 cents vs. 24 cents fourth quarter earnings per share on a 7.5% revenue rise. It says its tax refund and related interest income increased EPS by 22 cents.

Perini (PCR) files for a public offering of 5.04 million shares held by certain existing stockholders.

Tele Sudeste Celular (TSD) is among companies merging with Telesp Celular Participacoes S.A (TCP) at 3.2879 new shares of ADS of Telesp Celular for every 1 share of ADS of Tele Sudest Celular.

Eurotrust (EURO) agreed to acquire 100% of outstanding shares of capital stock of Aktiv Gruppen Holding A/S in exchange for 21.7 million ordinary shares of Eurotrust.

China Automotive (CAAS) and Sensor System Solutions (SSYO.OB) formed a joint venture to manufacture and distribute Manifold Absolute Pressure, Temperature & Manifold Air Pressure sensors, as well as to provide technical and commercial support to one of India's largest automobile manufacturers.

Dynamic Materials (BOOM) says its AMK Welding division has entered into a 5-year supply deal with a major customer. It says AMK will soon begin work on a significant expansion of its facility in Conn. in anticipation of related production requirements.


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