Markets & Finance

Goodyear Posts a Wider Loss


Microsoft shares lower amid report of Vista OS warning; BBVA to buy Compass Bancshares; plus more stocks in the news Friday

Goodyear Tire & Rubber (GT) Posts $2.02 fourth quarter loss vs. $0.29 loss as the impact of a strike and charges for rationalization offset a 1% sales rise.

Microsoft Corp. (MSFT) Shares seen lower after Microsoft CEO Ballmer reportedly said that analysts' revenue forecasts for Vista OS are "overly aggressive."

General Motors (GM) Automotive News reports that GM is in talks to buy the Chrysler group from DaimlerChrysler (DCX), citing sources in Germany and the U.S. GM declines comment, but says it has held talks with other companies about ventures. DaimlerChrysler declines to comment.

Compass Bancshares (CBSS) Agrees to be acquired by Banco Bilbao Vizcaya Argentaria in a $9.6 billion deal, where Compass Bancshares stockholders can elect to receive either 2.8 Banco Bilbao ADSs or $71.82 in cash per Compass Bancshares.

Mills Corp (MLS) Agrees to be acquired by Simon Property Group (SPG) and Farallon Capital Management LLC in a deal valued at about $1.64 billion, at $25.25 cash per Mills share. Mills has terminated its previous merger agreement with Brookfield (BAM)

Campbell Soup (CPB) Posts $0.72 (including a $0.04 gain from property sale) vs. $0.58 second quarter earnings per share (EPS) on a 4% revenue rise. Says that given a strong first half performance, it raises fiscal year 2007 EPS growth from continuing operations from its previous 5% to 7% range to between 10% and 12%.

Cisco Systems (CSCO) Agrees to give Apple (AAPL) until Feb. 21 to respond to a lawsuit it filed over the iPhone trademark. Separately, the Wall Street Journal reports that federal prosecutors are strongly considering criminal charges against former executives of Broadcom (BRCM), Apple, and KLA-Tencor (KLAC) in regards to stock compensation.

Stamps.com (STMP) Posts $0.20 vs. $0.17 fourth quarter EPS on 21% higher revenues.

J.M. Smucker (SJM) Posts $0.71 vs. $0.54 third quarter EPS despite a 2.5% sales drop. Expects 2007 sales to increase by about 4% over fiscal year 2006, excluding items. Says the goal remains to increase fiscal year 2007 EPS with a core growth assumption of 4% from fiscal year 2006's $2.65.

Honeywell (HON) Sets a $3 billion stock buyback.

Sonic Solutions (SNIC) Says third quarter revenue were $39.12 million. Sees fourth quarter revenue of $37 million to $41 million.


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