From Standard & Poor's Equity Research
The Food and Drug Administration supports a global recall of Bausch & Lomb's (BOL
) ReNu w/ MoistureLoc, amid a probe of its possible role in a fungal eye infection outbreak. The FDA is to issue inspection findings of Bausch & Lomb facilities in S.C.
First Avenue Networks (FRNS
) says the company and FiberTower Corp. inked a deal to combine the two companies in an all-stock transaction valued at about $1.5 billion. The combined company will be named FiberTower Corp. and listed on Nasdaq.
American Retirement (ACR
) agrees to be acquired by Brookdale Senior Living for an aggregate purchase price of about $1.2 billion cash, or $33.00 per share.
Brooks Automation (BRKS
) says the Securities and Exchange Commission is conducting an informal inquiry concerning stock option grant practices. It receives a staff determination letter from Nasdaq stating the company fails to comply with a certain rule because it did not make the timely filing of its 10-Q.
) agreed to pay $615 million to settle a Justice Department investigation into two contracting scandals, avoiding criminal charges and an admission of wrongdoing, according to the Wall Street Journal.
) posts 63 cents vs. 55 cents first quarter EPS on a 5.1% same-store sales rise. It notes gross margin rates were slightly unfavorable to the prior year. It believes it will achieve a mid-teen percentage increase in fiscal year 2007 EPS.
) and Inco (N
) announce that their boards have agreed to increase the value of Inco's friendly offer to acquire all of the outstanding shares of Falconbridge by C$5.00 to C$51.17 per share; the share component remains unchanged.
National Coal (NCOC
) posts 57 cents first quarter loss vs. 18 cents loss as consequences related to an accident with one of its highwall miners offset a 59% revenue rise. It says tons of coal shipped in the first quarter increased 65%.
Career Education (CECO
) says the U.S. District Court for the Northern District of Illinois has dismissed McSparran v. Larson, et al, a shareholder derivative action against Career Education, as well as certain of its officers and directors.
) and HD Digital Radio Alliance say that in anticipation of growing customer demand for HD Digital Radio receivers, RadioShack is launching a pilot program in several major markets as the prelude to a national roll-out later this year.
Cambridge Antibody Technology Group (CATG
) AstraZeneca UK Limited offers to acquire the company for GB 702 million.
Krispy Kreme Doughnuts (KKD
) announces a proposed settlement on class action against the company and individual defendants including certain members of the Board, officers, and employees. The settlement would include a one-time $4.75 million cash payment to be made by the company's insurer.
Paulson Capital (PLCC
) posts 57 cents first quarter loss vs. 40 cents loss on a 91% revenue decline. It cites significant investment losses from its proprietary investment accounts.
Kreisler Manufacturing (KRSL
) posts 24 cents vs. 5 cents third quarter EPS on a 42% sales rise.