Markets & Finance

PT Freeport Indonesia Expects Lower Copper Sales


From Standard & Poor's Equity Research

Freeport-McMoran Copper & Gold (FCX) PT Freeport Indonesia (PF-FI) expects its share of second quarter copper sales to be about 16% below previous second quarter estimates.

Sepracor (SEPR) receives a letter of inquiry from the Securities and Exchange Commission requesting documents related to Sepracor's stock option grants and practices. It sets up a special committee of its board to oversee the review of documentation relating to option grants.

Escala Group (ESCL) gets notification of a formal order of investigation from the Securities and Exhange Commission. Although the order is not confined to a particular matter, the company believes investigations relate to its transactions with Afinsa Bienes Tangibles, S.A. of Madrid.

Peabody Energy (BTU) the U.S. Supreme Court reportedly rejected an appeal from a group of mining companies to review the ruling of the West Virginia Supreme Court of Appeals that upheld state taxes on coal headed for export.

Merck (MRK) announces results of Phase IIb open-label study evaluating Zolinza, in patients with advanced, refractory cutaneous T-cell lymphoma, showed 30% of patients responded to treatment with Zolinza.

Wyeth (WYE) says preliminary interim Phase 3 clinical trial results of temsirolimus showed use of this investigational drug prolonged survival of patients in advanced renal cell carcinoma with poor risk features.

GlaxoSmithKline (GSK) says a pivotal Ph. III trial showed Tykerb nearly doubles time to progression for patients with HER2 positive advanced breast cancer, and also demonstrates preliminary activity in brain metastases associated with breast cancer.

Palomar Medical Technologies (PMTI) resolves patent infringement lawsuits against Cutera (CUTR). It will pay Palomar $15.5 million as royalty on sales of their laser-, lamp-based hair removal systems, as well as $2.5 million interest and $4 million to cover Palomar's legal costs and future royalties.

Laserscope (LSCP) agrees to be acquired in a tender offer by American Medical Systems in a $715 million deal, at $31 cash per share.


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