Markets & Finance

Napster For Sale?


From Standard & Poor's Equity Research

Symbol 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.


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