Markets & Finance

Inverness Bids Against Beckman Coulter for Biosite

Barnes & Noble to take immaterial charges related to stock option accounting; plus more stocks in the news Thursday

Biosite (BSTE) gets a letter from Inverness Medical Innovations (IMA) that says Inverness prepared to offer to acquire all of Biosite, other than the 4.9% it already owns, for $90 per share cash. On Mar. 25, Biosite received an $85 per share offer from Beckman Coulter (BEC).

Barnes & Noble (BKS) a Special Committee says the bookstore operator needs to take charges related to stock options, which are not material to financials in quarters such charges relate to; no restatement is needed. The committee recommends governance changes.

Rackable Systems (RACK) sees a first quarter net loss due to narrower-than-expected gross margin and higher-than-expected operating costs.

DaimlerChrysler (DCX) says a Supervisory Board elects Dr. Manfred Bischoff as its new chairman. Shareholders approve the distribution of a 2006 dividend of $2.002 per share.

Rockwell Automation (ROK) announces that James V. Gelly has resigned as CFO to pursue other opportunities. Says Theodore D. Crandall, head of Control Products & Solutions segment, will replace Gelly on an interim basis.

Nokia (NOK) pays Qualcomm (QCOM) $20 million for patent licenses covering the second quarter 2007 as part of a patent license agreement which partially expires April 9, 2007; Qualcomm continues to negotiate a new cross-license agreement.

Cutera (CUTR) cuts first quarter earnings per share guidance to between $0.11 and $0.13 vs. a previous $0.21 outlook. The company also moved revenue guidance to $23 million vs. a previous $26 million.

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