Markets & Finance

Rambus Wins Patent Infringement Trial Against Hynix


Rambus (RMBS) wins a patent infringement trial against Hynix Semiconductor, as the jury finds all 10 of Rambus's patent claims at issue as valid and infringed. The jury awards Rambus $306.5 million, not including pre-judgement interest.

Stone Energy (SGY) agrees to be acquired by Plains Exploration & Production (PXP) in a stock-deal valued at about $1.46 billion, at 1.25 Plains Exploration & Production shares per Stone Energy share.

Deutsche Telekom (DT) Blackstone Group said it has agreed to buy 4.5% of Deutsche Telekom for $3.31 billion, becoming a major shareholder in Germany's largest telephone operator, according to the Wall Street Journal.

Washington Mutual (WM) agrees to acquire Commercial Capital Bancorp (CCBI) for $16 per share in cash, or a total of about $983 million.

TD Ameritrade Holding (AMTD) posts 30 cents vs. 19 cents second quarter EPS on sharply higher revenues. It raises the midpoint for fiscal year 2006 EPS by 3 cents to 94 cents, and lowers the midpoint for fiscal year 2007 by 9 cents to $1.06.

Check Point Software Technologies (CHKP) posts 25 cents vs. 29 cents first quarter Generally Accepted Accounting Principles earnings per share (EPS) on a 3% revenue drop. It notes the impact from its change in a decision to acquire Sourcefire, lower product revenues, and slower pace of growth in the industry.

Novartis (NVS) posts 83 cents vs. 63 cents first quarter earnings per ADS on 13% revenue growth (based on US$).

Ethan Allen Interiors (ETH) posts 59 cents vs. 50 cents third quarter EPS on a 16% sales rise. It says the comparable Ethan Allen store delivered 15.2% higher sales. It believes analyst estimates for the fourth quarter are "within reach."

Genentech (DNA)'s board authorizes the repurchase of up to an additional $2 billion in stock for a total of $6 billion through June 30, 2007.

Cendant (CD) says that in addition to pursuing its previously announced plan to spin-off its Travel Distribution Services unit to shareholders, it will also consider sale of that unit.

Xerox (XRX) posts 20 cents vs. 20 cents first quarter EPS on a 2% revenue decline. It says it is disappointed in the gross profit decline. It also sees 22 cents to 24 cents second quarter EPS.

InfoUSA (IUSA) Dolphin Ltd and Dolphin Financial Partners, owners of 3.6% IUSA outstanding shares, propose a slate of 3 independent directors. The company thinks the full board will be unable to control chairman and CEO Vinod Gupta, who Dolphin claims has received improper benefits.

Rohm & Haas (ROH) posts 93 cents vs. 70 cents first quarter EPS on a 3% sales rise.

Kimberly-Clark (KMB) posts 93 cents (excluding unusual items) vs. 93 cents first quarter EPS on a 4% sales rise, limited by higher costs. It remains comfortable with its previous $3.85 to $3.95 2006 EPS forecast, excluding items.

H.J. Heinz (HNZ) says the portfolio realignment part of its transformation plan is now virtually finished. It reaffirms fiscal year 2006 pro forma EPS guidance of $2.10 to $2.16. It sees 3% to 4% fiscal year 2007 sales growth and EPS growth at the upper end of the 6% to 8% range.

Maximus (MMS) fires CEO Lynn Davenport after the company determined he violated the company's standards and ethics related to his conduct towards a female employee. It sees 42 cents to 43 cents second quarter EPS, excluding 2 cents to 3 cents in legal and settlement expense.

Silicon Laboratories (SLAB) posts 19 cents vs. 31 cents first quarter EPS as higher operating expenses offset a 9.3% revenue rise. It sees $116 million to $120 million second quarter revenue.

Pacific Ethanol (PEIX) says Charles Bader and Kenneth Friedman resigned from the Board of Directors, while Douglas Kieta and Robert Thomas were appointed to fill vacancies. It also announces the resignation of Ryan Turner as Chief Operating Offier and Secretary.

Kensey Nash (KNSY) posts 21 cents vs. 26 cents third quarter EPS (pro forma) despite a 6% sales rise.


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