Markets & Finance

Napster For Sale?


From Standard & Poor's Equity ResearchSymbol Technologies (SBL

) agrees to be acquired by Motorola (MOT

) in a $3.9 billion deal.

In response to recent third party interest in establishing strategic partnerships or potentially acquiring the company, Napster (NAPS

) retains UBS Investment Bank to assist in evaluation of strategic alternatives.

Yahoo (YHOO

) says it is likely to report third quarter results in the lower half of its previous guidance range due to advertising weakness.

Dow Jones & Co (DJ

) says September advertising revenue at The Wall Street Journal is running below its expectations. As result, lowers third quarter EPS guidance to $0.08-$0.11, before tax benefit, severance charge.

Target (TGT

) reportedly sees September same-store sales increase of 5% vs. previous guidance of 3%-5%.

ImClone Systems (IMCL

) says U.S. District Court in Manhattan issued decision in favor of Yeda Research & Development Co. in case involving inventorship of patent that ImClone Systems licenses from Sanofi-Aventis. Intends to appeal against ruling.

Cemex (CX

) expects third quarter EBITDA of "close to" $1.1 billion and operating income of more than $800 million, on revenue of about $4.6 billion. In the U.S., cement and ready-mix volumes are expected to decrease 3% in the third quarter.

CBRL Group (CBRL

) posts $1.03 vs. $0.74 Q4 EPS despite 3.0% lower same-store restaurant sales at Cracker Barrel Old Country Stores. To provide guidance on full fiscal year rather than quarterly. It sees $2.4 billion fiscal 2007 revenue from Cracker Barrel.


Later, Baby
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