Lucent Technologies (LU
) and Alcatel (ALA
) confirm they are engaged in talks about a potential merger of equals that is intended to be priced at market. They say they will have no further comment until an agreement is reached or talks are terminated.
) plans to close its Shrewsbury, N.J. facility, and lay off 62 employees to generate $7 million to $8 million in annualized cost savings. It sees $3.8 million to $8.1 million in restructuring charges.
Check Point Software (CHKP
) withdrew its offer to acquire Sourcefire and says the companies will explore an alternative business relationship.
) offers to acquire Schering (SHR
) in a ??16.3 billion deal, at ??86 cash per Schering share.
) is to be added to the S&P 500 after close of trading on Mar. 31, replacing Burlington Resources, which is being acquired. S&P announced plans on Friday to shuffle names such as Matria Healthcare (MATR
) and First Commonwealth Financial (FCF
) in its 600 index as well.
) posts 19 cents vs. 10 cents third quarter earnings per share (EPS) under non-Generally Accepted Accounting Principles (GAAP) on a 36% revenue rise. It sees 22 cents to 23 cents fourth quarter non-GAAP EPS (or 33 cents to 34 cents GAAP EPS), on revenue of $400 million to $405 million.
) says the Food and Drug Administration advisory committee recommends against approval of Sparlon for Attention Deficit/Hyperactivity Disorder in children and adolescents.
) says the jury in cases of Suzan Talbot v. Wyeth, Sharon Thacker v. Wyeth, Ernestine Vigil v. Wyeth and Jorie Williams v. Wyeth rules in favor of plantiffs in phase 1 of the trial. Phase 2 is set to begin on March 27.
) posts 8 cents third quarter loss vs. 14 cents loss (GAAP) on a 10% revenue rise.
Campbell Soup (CPB
) is to explore alternatives, including possible divestiture, for its businesses in the UK and Ireland. It notes that UK and Irish businesses have annual sales of about $490 million.
Lafarge North America (LAF
) says its special committee has unanimously determined that the tender offer of Lafarge to acquire all of Lafarge at $75 per share is inadequate. It recommends stockholders reject it.
Wet Seal (WTSLA
) posts 5 cents fourth quarter loss vs. $1.31 loss (GAAP) on 45% higher same-store sales and 19% higher total sales. It targets a fiscal year 2007 same-store sales increase in the mid-single-digit range.
Finish Line (FINL
) posts 58 cents vs. 57 cents fourth quarter EPS (including items) on 10% higher net sales and flat same-store sales.
Tim Hortons (THI
) an initial 29 million shares were offered at $23.162 per share.