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Saturday, March 12, 2005 10:29:25 AM
Final - StreetInsider Alerts 03/11/2005 @ 04:25:26 PM
By StreetInsider.com, Investing-News.Com
Mar 11, 2005, 21:45
DJ:INDU ( KMRT XOMA ERES ) REV PAS MCRL IINT SGTL APPB ATVI (To Earlier Below)
03/11/2005 04:25:26 PM
StreetInsider Alert for DJ:INDU
Mar 11, 2005 (streetinsider.com via COMTEX) --The Dow finished 77.15 points lower to close at 10,774, the Nasdaq lost 18.12 points to close at 2,042, and the S&P 500 lost 9.17 points to close at 1,200.
The markets closed out the trading session in the red today as positive sentiment spurred by a UBS upgrade and price target increase of Kmart Holding Corp (Nasdaq: KMRT) was eclipsed by concerns over inflation and the rising price of crude oil as well as economic data showing the Trade Deficit at its second highest level in history.
Volume was light today with 1.44 billion shares trading on the NYSE and 1.77 billion on the Nasdaq. Decliners outpaced advancers by a margin of 20:13 on the NYSE, and by a margin of 17:14 on the Nasdaq.
In individual stories, XOMA Ltd. (Nasdaq: XOMA) closed 25.96% higher after the company was awarded a $15 million contract from the National Institute of Allergy and Infectious Diseases (NIAID). On the downside, eResearchTechnology, Inc. (Nasdaq: ERES) closed 16.21% lower after the company warned for Q1 revenues.
There is no economic data scheduled for release on Monday.
03/11/2005 04:15:18 PM
StreetInsider Alert for REV
Mar 11, 2005 (streetinsider.com via COMTEX) --Revlon, Inc. (NYSE: REV) announced that its wholly-owned subsidiary, Revlon Consumer Products Corporation, has priced its previously-announced offering of Senior Notes due 2011 (the "Notes"). The interest rate on the Notes has been set at 9 1/2 % and the transaction has been increased to $310 million, from the initially-announced $205 million, in response to investor demand. The transaction is expected to close on March 16, 2005. The closing of the offering is subject to customary closing conditions and there can be no assurances that the transaction will be consummated.
03/11/2005 04:10:21 PM
StreetInsider Alert for PAS
Mar 11, 2005 (streetinsider.com via COMTEX) --PepsiAmericas, Inc. (NYSE: PAS) announced that Mike Durkin will assume the position of executive vice president of U.S. operations, effective March 21. Mr. Durkin, 45, replaces Jim Nolan, who resigned his post last month. He will report to PepsiAmericas' President and Chief Operating Officer Ken Keiser and lead the development and execution of the company's domestic sales and marketing strategy.
03/11/2005 04:10:20 PM
StreetInsider Alert for MCRL
Mar 11, 2005 (streetinsider.com via COMTEX) --Micrel, Incorporated (Nasdaq: MCRL), an industry leader in high performance analog and high-speed mixed-signal solutions reported today that its Board of Directors has approved a $75 million share repurchase program for calendar year 2005. The action supercedes the Company's previously approved authorization to repurchase Micrel common stock announced on August 30, 2004. Repurchased shares will be used to offset the dilution arising from the Company's obligations under its stock option plans, employee stock purchase plan and 401(k) plan.
03/11/2005 04:10:20 PM
StreetInsider Alert for IINT
Mar 11, 2005 (streetinsider.com via COMTEX) --Indus International Inc. (NASDAQ: IINT) announced that President and CEO Greg Dukat has adopted a prearranged trading plan in accordance with guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934, and the company's policies with respect to insider sales.
03/11/2005 04:10:11 PM
StreetInsider Alert for SGTL
Mar 11, 2005 (streetinsider.com via COMTEX) --SigmaTel, Inc. (NASDAQ: SGTL) and A-MAX Technology, Ltd. announced a strategic partnership for developing and manufacturing portable digital audio devices.
03/11/2005 04:05:18 PM
StreetInsider Alert for APPB
Mar 11, 2005 (streetinsider.com via COMTEX) --Applebee's International, Inc. (Nasdaq: APPB) announced that it will file a Form 12b-25 for a fifteen-day extension of the March 11, 2005 filing deadline for its Annual Report on Form 10-K for the fiscal year ended December 26, 2004. The company now expects to file its Annual Report on Form 10-K on or before March 28, 2005.
03/11/2005 04:05:17 PM
StreetInsider Alert for ATVI
Mar 11, 2005 (streetinsider.com via COMTEX) --Activision, Inc. (Nasdaq: ATVI), a leading developer, publisher and distributor of interactive entertainment software products, and Viacom Consumer Products Inc., today jointly announced that they have reached an agreement that settles their legal disputes regarding their license agreement for "Star Trek" video games. As a result of the settlement, all pending lawsuits filed by each party in the Superior Court in Los Angeles regarding this matter have been dismissed. All other terms of the settlement agreement will remain confidential.
~~~ What To Look For ~~~ [ ALT + BACK ARROW ] to Return
PRTL NOI T AZO ATW ROG DJ:INDU ( XOMA ERES VC F CNLG AVNX LVB JILL LIN KMRT SIRF NUE )FLWS KOPN (To Earlier Below)
03/11/2005 03:55:27 PM
StreetInsider Alert for PRTL
Mar 11, 2005 (streetinsider.com via COMTEX) --Primus Telecommunications Group, Incorporated (Nasdaq: PRTL) reported that the private equity funds managed by subsidiaries of AIG Capital Partners, Inc. ("AIGCP") that hold Primus common stock have adopted a pre-arranged stock trading plan to sell less than 20 percent of their Primus common stock over time as part of a long-term strategy for asset diversification and liquidity. The stock trading plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934.
The Plan involves 3,000,000 shares, or approximately eighteen percent (18%) of the shares beneficially owned by the Funds. The Plan represents approximately three percent (3%) of the Primus common stock outstanding. Under the terms of the Plan, the Funds have given their broker the discretion to sell, within stated parameters, up to 3,000,000 shares over the next 18 months, which, if all were sold, would leave the Funds with beneficial ownership of approximately 13,500,000 shares, or more than eighty percent (80%) of their current holdings.
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03/11/2005 03:20:09 PM
StreetInsider Alert for NOI
Mar 11, 2005 (streetinsider.com via COMTEX) --National-Oilwell, Inc. (NYSE: NOI) and Varco International, Inc. (NYSE: VRC) jointly announced today that the merger of the two companies was approved today by stockholders of each company by substantial margins. In addition, stockholders of National Oilwell also approved the National Oilwell Varco Long-Term Incentive Plan. All conditions to the merger have been satisfied. A certificate of merger has been filed in the State of Delaware, which provides that the merger will become effective at 3 p.m., central time, today. Effective Monday, March 14, National Oilwell Varco's common stock will trade under the symbol NOV on the New York Stock Exchange.
03/11/2005 03:15:27 PM
StreetInsider Alert for T
Mar 11, 2005 (streetinsider.com via COMTEX) --AT&T (NYSE: T) is pleased to have reached an amicable resolution with the Pennsylvania Attorney General over a "Do-Not-Call" issue, which saves both organizations the time and expense that would have been consumed by litigation.
The purpose of this agreement is to settle the matter and is not a finding or admission of wrongdoing by AT&T. Under the terms of the agreement, AT&T will pay $34,500 to the Commonwealth of Pennsylvania.
03/11/2005 03:15:14 PM
StreetInsider Alert for AZO
Mar 11, 2005 (streetinsider.com via COMTEX) --AutoZone, Inc. (NYSE: AZO) announced the filing of its Form 10-Q for the fiscal second quarter ended February 12, 2005.
As previously announced, based upon recent SEC clarification, these financial statements include an adjustment associated with its accounting for leases and related leasehold improvements. The non-cash adjustment expensed in the quarter was $25.4 million net of tax ($0.31 per share), substantially all of which related to prior years. For the remainder of fiscal 2005, the Company expects this change in accounting to have an immaterial impact on its results of operations.
03/11/2005 02:55:21 PM
StreetInsider Alert for ATW
Mar 11, 2005 (streetinsider.com via COMTEX) --Atwood Oceanics, Inc. (NYSE: ATW) announced that the SEAHAWK has been awarded an additional contract by Sarawak Shell Berhad/Sabah Shell Petroleum Company Limited ("Shell") to drill two (2) to three (3) wells on one platform and two (2) wells on a second platform which is estimated to take six to eight months to complete. The contract provides Shell with an option to drill up to six months of additional work; however, the Company retains the right to not consent to any additional work with a well spud date after February 15, 2006. The contract provides for a $50,000 operating dayrate, with a fee of $289,170 payable when the rig was moved in March 2005 to its current dockside location in Malaysia and a fee of $315,000 payable when the rig arrives at the first platform location in May 2005. The rig will be off dayrate for approximately 45 days between completion of the prior contract with Shell and the commencement of this additional contract with Shell. In February/March 2006, the Company expects to commence preparing the SEAHAWK for its contract commitment with Amerada Hess Equatorial Guinea, Inc. off the coast of Equatorial Guinea.
03/11/2005 02:10:15 PM
StreetInsider Alert for ROG
Mar 11, 2005 (streetinsider.com via COMTEX) --Rogers Corporation (NYSE: ROG) announced that James M. Rutledge, Vice President of Finance, Chief Financial Officer and Treasurer, has resigned effective today for personal reasons.
03/11/2005 01:50:16 PM
StreetInsider Alert for DJ:INDU
Mar 11, 2005 (streetinsider.com via COMTEX) --03/11: StreetInsider.com's Unusual 11 Afternnon Movers:
XOMA Ltd. (Nasdaq: XOMA) 28.85% HIGHER; awarded a $15 million contract from NIAID.
eResearchTechnology, Inc. (Nasdaq: ERES) 17.80% LOWER; warned for Q1 revenues.
Visteon Corp. (NYSE: VC) 14.86% HIGHER; Ford Motor (NYSE: F) and VC have reached a financial agreement designed to help the stuggling auto supplier.
Conolog Corporation (Nasdaq: CNLG) 13.94% HIGHER; received military contracts.
Avanex (Nasdaq: AVNX) 13.92% LOWER; sees Q3 revs of $40-$42 million, versus the $42 million consensus and expects Q3 pro forma loss to be "slightly greater" than Q2.
Steinway Musical Instruments Inc. (NYSE: LVB) 13.62% HIGHER; posted strong Q4 results.
J. Jill Group, Inc. (Nasdaq: JILL) 12.35% LOWER; warned for Q1 net sales. In addition, Sanders Morris downgraded the stock and Piper Jaffray cut its price target on the stock.
Linens 'n Things (NYSE: LIN) 11.44% LOWER; CIBC World Markets downgraded the stock.
Kmart Holding Corp (Nasdaq: KMRT) 9.49% HIGHER; UBS upgraded the stock to a 'buy' rating and $160 price target.
SiRF Technology (Nasdaq: SIRF) 8.80% HIGHER; Deutsche Bank upgraded the stock.
Nucor Corporation (NYSE: NUE) 8.29% HIGHER; increased earnings guidance for Q1.
03/11/2005 01:45:20 PM
StreetInsider Alert for FLWS
Mar 11, 2005 (streetinsider.com via COMTEX) --1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), the leading florist and retailer of thoughtful gifts for all occasions and Cheryl & Co., Inc., a Westerville, Ohio-based manufacturer and seller of cookies and related baked gift items, today announced that the companies have signed a definitive merger agreement under which 1-800-FLOWERS.COM will acquire all of the stock of Cheryl & Co. in an all-cash purchase valued at approximately $40 million. The agreement is subject to a final vote of Cheryl & Co. shareholders and is expected to close by March 31, 2005.
03/11/2005 01:40:14 PM
StreetInsider Alert for KOPN
Mar 11, 2005 (streetinsider.com via COMTEX) --Kopin Corp (Nasdaq: KOPN) disclosed in an 8-K filing that on March 11, 2005, the Registrant filed a Form 12b-25 with the Securities and Exchange Commission pursuant to which it reported that its Annual Report on Form 10-K for the fiscal year ended December 25, 2004 could not be filed within the prescribed time period without unreasonable effort or expense and that the Form 10-K will be filed on or before the fifteenth calendar day following the prescribed due date.
~~~ Expert Analysis ~~~ [ ALT + BACK ARROW ] to Return
EPR BABY PPP SHMR EGN MBI MERB (To Earlier Below)
03/11/2005 01:20:14 PM
StreetInsider Alert for EPR
Mar 11, 2005 (streetinsider.com via COMTEX) --Entertainment Properties Trust (NYSE: EPR) announced the acquisition of the East Ridge 18 megaplex in Chattanooga, TN, for a total project cost of approximately $14.5 million.
03/11/2005 01:10:15 PM
StreetInsider Alert for BABY
Mar 11, 2005 (streetinsider.com via COMTEX) --Natus Medical Incorporated (Nasdaq: BABY) announced that at a meeting of its Board of Directors on March 10, 2005, the Board approved an amendment to the Company's stockholder rights plan increasing the threshold percentage of ownership that would result in a person or group being an "acquiring person" from 15% to 20%. This change to the plan will become effective as soon as practicable, pending the company's completion of the amendment to its rights plan with the rights agent. Jim Hawkins, President and Chief Executive Officer of Natus said, "Our board determined that it was in the interests of our stockholders to increase the percentage of our shares that could be acquired under our plan, while still preserving the beneficial effects of the plan for our stockholders."
03/11/2005 01:05:15 PM
StreetInsider Alert for PPP
Mar 11, 2005 (streetinsider.com via COMTEX) --Pogo Producing Company (NYSE: PPP) has discovered commercial accumulations of hydrocarbons in its 100%-owned Ewing Bank Block 948 in the Outer Continental Shelf (OCS), it was announced today. The 948 No. 1 well is located in 725 feet of water. Extensive sidewall coring and logging confirms the presence of 100 feet of net natural gas and condensate pay with average porosity calculations better than 26%, and excellent permeability of roughly 500 millidarcies. The vast majority of this Pleistocene Angulogenrina-B pay is in a 200-foot laminated sand interval found between 13,710 feet and 13,910 feet measured depth. Sidetracking operations are now underway which will be expected to yield the optimum take-point for this discovery structure. A subsea completion will be utilized, taking production to a nearby host platform by the first half of 2006.
03/11/2005 12:05:17 PM
StreetInsider Alert for SHMR
Mar 11, 2005 (streetinsider.com via COMTEX) --Today's 4 million share IPO for Shamir Optical Industry (Nasdaq: SHMR) is open for trading. The stock is tradng at $16.04 after pricing at $14.
Shamir Optical is an Israeli-based company which makes progressive lenses to treat a condition when the eye is unable to focus on close objects.
03/11/2005 11:55:16 AM
StreetInsider Alert for EGN
Mar 11, 2005 (streetinsider.com via COMTEX) --Energen Corporation (NYSE: EGN) said it continues to capitalize on commodity price volatility by hedging still more of its estimated 2006 natural gas and oil production; as a result, the diversified energy company is raising its earnings guidance for 2006 by 25 cents to a new range of $4.90-$5.10 per diluted share (consensus $4.56). Energen also said it is increasing its earnings guidance range for 2005 by 20 cents to a new range of $4.45-$4.65 per diluted share in recognition of the market strength of near-term commodity prices (consensus $4.39).
03/11/2005 11:10:15 AM
StreetInsider Alert for MBI
Mar 11, 2005 (streetinsider.com via COMTEX) --MBIA Inc. (NYSE: MBI) declared an increase in its regular quarterly dividend to 28 cents per share on its common stock, which was approved by the board of directors. This press release corrects the release issued last night that indicated the quarterly dividend was 24 cents per share.
03/11/2005 10:40:22 AM
StreetInsider Alert for MERB
Mar 11, 2005 (streetinsider.com via COMTEX) --Merrill Merchants Bancshares, Inc (Nasdaq: MERB) has declared a cash dividend of $ .15 per share on the Company's common stock for the first quarter of 2005. This is an increase of 19% over last year's first quarter dividend. The cash dividend will be payable to all shareholders of record as of April 15, 2005, and will be paid on April 29, 2005.
~~~ Don't Trade Alone ~~~ [ ALT + BACK ARROW ] to Return
HRLY LVB VWPT DJ:INDU ( XOMA ERES VC F JILL AVNX SIRF LIN KMRT AIRN ) AIRN PNX (To Earlier Below)
03/11/2005 10:35:23 AM
StreetInsider Alert for HRLY
Mar 11, 2005 (streetinsider.com via COMTEX) --Herley Industries, Inc. (Nasdaq: HRLY) announced that it has been awarded contracts totaling $6.5 million to supply flight termination receivers and hybrids for two U.S. military programs.
03/11/2005 10:35:08 AM
StreetInsider Alert for LVB
Mar 11, 2005 (streetinsider.com via COMTEX) --Steinway Musical Instruments Inc. (NYSE: LVB) is 13% higher in early action after the company reported strong Q4 results. Net sales increased 13% for the fourth quarter, to $107 million. Cash flow from operations was $32 million, up 25%, and EBITDA was $15 million. Basic EPS increased 55%, to $0.87 from $0.56 (consensus $0.61/one analyst).
03/11/2005 10:30:19 AM
StreetInsider Alert for VWPT
Mar 11, 2005 (streetinsider.com via COMTEX) --Viewpoint (Nasdaq: VWPT) announced the successful design, implementation and launch of its first project for CanWest Global Communications Corporation (NYSE: CWG), Canada's leading international media company. The project is a rich media mini-site featuring video and audio that provides users with dynamic updates of CanWest's CanSpell National Spelling Bee Competition.
03/11/2005 10:30:18 AM
StreetInsider Alert for DJ:INDU
Mar 11, 2005 (streetinsider.com via COMTEX) --03/11: StreetInsider.com's Unusual 8 Morning Movers:
XOMA Ltd. (Nasdaq: XOMA) 37.50% HIGHER; awarded a $15 million contract from the National Institute of Allergy and Infectious Diseases (NIAID).
eResearchTechnology, Inc. (Nasdaq: ERES) 26.96% LOWER; warned for Q1 revenues.
Visteon Corp. (NYSE: VC) 17.41% HIGHER; Ford Motor (NYSE: F) and VC have reached a financial agreement designed to help the stuggling auto supplier. In addition, Prudential upgraded the stock.
J. Jill Group, Inc. (Nasdaq: JILL) 12.92% LOWER; warned for Q1 net sales. In addition, Sanders Morris downgraded the stock and Piper Jaffray cut its price target on the stock.
Avanex (Nasdaq: AVNX) 10.84% LOWER; sees Q3 revs of $40-$42 million, versus the $42 million consensus and expects Q3 pro forma loss to be "slightly greater" than Q2.
SiRF Technology (Nasdaq: SIRF) 10.00% HIGHER; Deutsche Bank upgraded the stock.
Linens 'n Things (NYSE: LIN) 8.97% LOWER; CIBC World Markets downgraded the stock.
Kmart Holding Corp (Nasdaq: KMRT) 7.05% HIGHER; UBS upgraded the stock to a 'buy' rating and $160 price target.
03/11/2005 09:40:05 AM
StreetInsider Alert for AIRN
Mar 11, 2005 (streetinsider.com via COMTEX) --Airspan Networks, Inc. (Nasdaq: AIRN) and YOZAN Inc., a leading telecommunications operator providing services throughout the Tokyo Metropolitan area, have reached an agreement to deploy a Tokyo-wide WiMAX network. The Yozan MetroZone will deliver high speed IP connectivity, and support Voice, Video and broadband data services. The contract is valued in excess of $12 million.
03/11/2005 09:30:14 AM
StreetInsider Alert for PNX
Mar 11, 2005 (streetinsider.com via COMTEX) --The Phoenix Companies, Inc. (NYSE: PNX) reported a $5.4 million increase in fourth quarter 2004 net income to $48.3 million and full-year 2004 net income to $86.4 million, compared with the amounts previously reported on February 8, 2005. These results were included in Phoenix's Annual Report on Form 10-K for the year ended December 31, 2004, filed with the Securities Exchange Commission. Total segment income for the fourth quarter and full year 2004 remain unchanged.
~~~ Guidance For Trades ~~~ [ ALT + BACK ARROW ] to Return
NUE JILL DRS ZQK AMV EEI GPS ELMS AHG GLBC MANA AT BWS PETC NLY IM SFI GKK WBSN LNC PRU ENER CP NFS BOH KGC MNTG UNM IPG NGEN KEY ADH TQNT FRX BMC FHRX INSP FLYR AH KEG INCY FGP NUCO VC TRI VC SAFT SVNT MANH APD BTN CNCT DAL SIRF QCOM KMRT UDI WFMI LIN CVC
03/11/2005 09:25:09 AM
StreetInsider Alert for NUE
Mar 11, 2005 (streetinsider.com via COMTEX) --Nucor Corporation (NYSE: NUE) increased the earnings guidance for its first quarter ending April 2, 2005. Nucor expects first quarter net earnings to be in the range of $1.95 to $2.15 per share, significantly better than the $1.70 to $1.90 per share that Nucor had previously forecast (consensus 1.82).
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03/11/2005 09:20:23 AM
StreetInsider Alert for JILL
Mar 11, 2005 (streetinsider.com via COMTEX) --Sanders Morris Harris downgraded J. Jill Group Inc (Nasdaq: JILL) from 'buy' to 'hold'.
03/11/2005 09:20:12 AM
StreetInsider Alert for DRS
Mar 11, 2005 (streetinsider.com via COMTEX) --DRS Technologies, Inc. (NYSE: DRS) announced that it has completed the sale of its DRS Broadcast Technology, Inc. and DRS Weather Systems, Inc. units to The Veritas Capital Fund II, L.P., a New York-based investment company, in a stock purchase transaction. The company's intent to sell these operating units was disclosed previously.
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03/11/2005 09:15:13 AM
StreetInsider Alert for ZQK
Mar 11, 2005 (streetinsider.com via COMTEX) --Pacific Growth upgraded Quiksilver Inc (NYSE: ZQK) from 'equal weight' to 'overweight'.
03/11/2005 09:15:13 AM
StreetInsider Alert for AMV
Mar 11, 2005 (streetinsider.com via COMTEX) --Robert Baird & Co. upgraded Amerivest Properties Inc (AMEX: AMV) from 'neutral' to 'outperform'; $7.00 price target.
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03/11/2005 09:05:18 AM
StreetInsider Alert for EEI
Mar 11, 2005 (streetinsider.com via COMTEX) --Ecology & Environment Inc (NYSE: EEI) was selected by the Texas Commission on Environmental Quality (TCEQ) to support its statewide dry cleaner remediation program for the next three plus years, with an estimated contract value of $1 million per year.
03/11/2005 09:05:18 AM
StreetInsider Alert for GPS
Mar 11, 2005 (streetinsider.com via COMTEX) --Gap Inc. (NYSE: GPS) announced that it has called for the full redemption on March 31, 2005 of the $1.37 billion aggregate principal amount outstanding of its 5.75% Convertible Senior Notes due March 15, 2009 (the "Notes"). On March 31, 2005, all of the outstanding Notes will be redeemed. Note holders will receive cash at a redemption price equal to 102.46% of the principal amount of the Note, plus accrued interest excluding the redemption date, for a total of approximately $1,027 per $1,000 principal amount of Notes.
03/11/2005 09:05:07 AM
StreetInsider Alert for ELMS
Mar 11, 2005 (streetinsider.com via COMTEX) --ERI Acquisition Corp. announced that its cash tender offer at an offer price of $7.50 per share for all of the outstanding common stock of Elmer's Restaurants, Inc. (Nasdaq: ELMS) not owned by a group of continuing shareholders led by Bruce N. Davis, Chairman of the Board and President of the Company, expired at 5:00 p.m., Eastern Standard Time, on March 10, 2005. Purchaser has accepted for purchase and payment all of the shares validly tendered as of the expiration date of the Offer and intends to make prompt payment for such tendered shares.
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03/11/2005 08:55:08 AM
StreetInsider Alert for AHG
Mar 11, 2005 (streetinsider.com via COMTEX) --Pacific Growth downgrades Apria Healthcare Group Inc (NYSE: AHG) from 'overweight' to 'equal weight'.
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03/11/2005 08:40:13 AM
StreetInsider Alert for GLBC
Mar 11, 2005 (streetinsider.com via COMTEX) --Global Crossing (Nasdaq: GLBC) announced that in conjunction with its Global Channel Partner Transit Broker LLC, it has implemented a managed global IP VPN, for multinational Inalfa Roof Systems. The backbone replaces and significantly upgrades the functionality of a previous frame relay network, and connects corporate locations in the U.S., UK and the Netherlands, with Italy and Korea to follow. The agreement between the two companies was signed in March 2004.
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03/11/2005 08:35:12 AM
StreetInsider Alert for MANA
Mar 11, 2005 (streetinsider.com via COMTEX) --Manatron, Inc. (Nasdaq: MANA) announced that it has received a contract totaling $3.2 million over five years from the City of Nashville, Tennessee to provide its new Property Tax solution. The software, related implementation services, and ongoing support will be provided to the Davidson County Trustee's Office.
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03/11/2005 08:20:25 AM
StreetInsider Alert for AT
Mar 11, 2005 (streetinsider.com via COMTEX) --Thomas Weisel initiated coverage on Alltel Corp (NYSE: AT) with a 'peer perform' rating.
03/11/2005 08:20:24 AM
StreetInsider Alert for BWS
Mar 11, 2005 (streetinsider.com via COMTEX) --Brean Murray initiated coverage on Brown Shoe Co Inc (NYSE: BWS) with a 'buy' rating; $40.00 price target.
03/11/2005 08:20:23 AM
StreetInsider Alert for PETC
Mar 11, 2005 (streetinsider.com via COMTEX) --ThinkEquity Partners upgraded PETCO Animal Supplies Inc (Nasdaq: PETC) from an 'accumulate' to 'buy' rating with a $45 price target. The firm based its upgrade on valuation and a solid outlook.
03/11/2005 08:20:23 AM
StreetInsider Alert for NLY
Mar 11, 2005 (streetinsider.com via COMTEX) --Salomon Smith Barney initiated coverage on Annaly Mortgage Management Inc (NYSE: NLY) with a 'sell' rating; $16.00 price target. The firm thinks the negative earnings impact of rising short-term interest rates and a flatter yield curve will trump most earnings positives.
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03/11/2005 08:15:25 AM
StreetInsider Alert for IM
Mar 11, 2005 (streetinsider.com via COMTEX) --Robert W. Baird downgraded Ingram Micro Inc. (NYSE: IM) from an 'outperform' to 'neutral' rating and decreased its price target from $21 to $18 per share. The firm based their downgrade on signals that aggressive price competition among wholesale distributors lays ahead. They noted Ingram should pace market performance as moderating demand is creating more competitive conditions in this overcapacitized industry -- a situation the firm does not see improving in the near term.
03/11/2005 08:15:24 AM
StreetInsider Alert for SFI
Mar 11, 2005 (streetinsider.com via COMTEX) --Salomon Smith Barney initiated coverage on iStar Financial Incorporated (NYSE: SFI) with a 'buy' rating; $47.00 price target. The analyst favors SFI's strong national franchise and superior financing model. They believe SFI is a leader and pioneer in the commercial real estate finance business, generating premium yields in the marketplace and capitalizing on opportunities before its competitors.
03/11/2005 08:15:24 AM
StreetInsider Alert for GKK
Mar 11, 2005 (streetinsider.com via COMTEX) --Smith Barney initiated coverage on Gramercy Capital Corporation (NYSE: GKK) with a 'buy' rating and $25 price target. The firm assigned their Buy rating believing GKK benefits from a seasoned mgmt team in the structured finance sector, through a combination of SL Green and newly hired executives. In addition, they stated that SL Green owns 25% of GKK's shares, aligning them with shareholder interests.
03/11/2005 08:15:09 AM
StreetInsider Alert for WBSN
Mar 11, 2005 (streetinsider.com via COMTEX) --Deutsche Bank downgraded Websense Incorporated (Nasdaq: WBSN) from a 'buy' to 'hold' rating and increased its price target from $55 to $62 per share. The firm lowered their rating citing the stock's recent strong performance. They believe, however, that the fundamental outlook remains positive for the shares. In addition, they noted that they would not be putting new money in the shares today, but investors who already own the stock should continue to do so as billing growth may justify an even higher price target in the future.
03/11/2005 08:15:08 AM
StreetInsider Alert for LNC
Mar 11, 2005 (streetinsider.com via COMTEX) --Banc of America initiated coverage on Lincoln National Corporation (NYSE: LNC) with a 'neutral' rating.
03/11/2005 08:15:08 AM
StreetInsider Alert for PRU
Mar 11, 2005 (streetinsider.com via COMTEX) --Banc of America initiated coverage on Prudential Financial, Incorporated (NYSE: PRU) with a 'buy' rating and $66 price target. The firm has named PRU their top pick in the group and think the stock is one of the few companies to deliver ROE expansion in 2005. They also feel ROE improvement will be driven by solid growth in core life and annuities business, a continued shift to higher-margin businesses, the contribution of recent acquisitions and share buyback.
03/11/2005 08:15:06 AM
StreetInsider Alert for ENER
Mar 11, 2005 (streetinsider.com via COMTEX) --Jefferies Group Inc. initiated coverage on Energy Conversion Devices Inc (Nasdaq: ENER) with a 'hold' rating.
03/11/2005 08:10:22 AM
StreetInsider Alert for CP
Mar 11, 2005 (streetinsider.com via COMTEX) --RBC Capital Markets downgraded Canadian Pacific Railway (NYSE: CP) from an 'outperform' to 'sector perform' rating and increased its price target from $45 to $46.50 per share. The firm based their downgrade of the stock on valuation.
03/11/2005 08:10:21 AM
StreetInsider Alert for NFS
Mar 11, 2005 (streetinsider.com via COMTEX) --Banc of America initiated coverage on Nationwide Financial Services, Inc. (NYSE: NFS) with a 'neutral' rating.
03/11/2005 08:10:17 AM
StreetInsider Alert for BOH
Mar 11, 2005 (streetinsider.com via COMTEX) --Keefe Bruyette upgraded Bank of Hawaii Corporation (NYSE: BOH) from a 'market perform' to 'outperform' rating with a $54 price target. The firm based their upgraded on valuation and believes that the current operating environment will be beneficial to Bank of Hawaii due to its strong balance sheet, moderate asset sensitivity and limited local deposit competition.
03/11/2005 08:10:17 AM
StreetInsider Alert for KGC
Mar 11, 2005 (streetinsider.com via COMTEX) --UBS Securities Inc. downgraded Kinross Gold Corporation (NYSE: KGC) from 'buy' to 'neutral'.
03/11/2005 08:10:16 AM
StreetInsider Alert for MNTG
Mar 11, 2005 (streetinsider.com via COMTEX) --Gaming Group, Inc. (Nasdaq: MNTG) reported Q4 earnings of $0.09 per share, 4 cents better tahn estimates. Revenues came in at $71.2 million versus the consensus of $72.4 million.
03/11/2005 08:10:15 AM
StreetInsider Alert for UNM
Mar 11, 2005 (streetinsider.com via COMTEX) --Banc of America initiated coverage on UnumProvident Corporation (NYSE: UNM) with a 'buy' rating; $21.00 price target. The analyst said UNM is positioned as a leader in the income protection and long-term care mkts, which they believe will continue to see improving trends in 2005. They also look for fundamentals to continue to improve, driving earnings growth and a higher valuation.
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03/11/2005 08:05:29 AM
StreetInsider Alert for IPG
Mar 11, 2005 (streetinsider.com via COMTEX) --Interpublic (NYSE: IPG) indicated today that it would require additional time to file its annual report on Form 10-K and to release fourth quarter and full year 2004 earnings.
03/11/2005 08:05:28 AM
StreetInsider Alert for NGEN
Mar 11, 2005 (streetinsider.com via COMTEX) --Nanogen, Inc. (Nasdaq: NGEN), developer of advanced diagnostic products, announced today that it was issued U.S. Patent No. 6,864,071, "Multiplex amplification and separation of nucleic acid sequences using ligation-dependent strand displacement amplification and bioelectronic chip technology," by the U.S. Patent and Trademark Office. The '071 patent relates to amplifying and analyzing multiple samples of nucleic acid using ligation-based strand displacement amplification (SDA) technologies. The intellectual property pertains to research Nanogen conducted in collaboration with Becton Dickinson and increases Nanogen's portfolio of technologies for multiplex amplification on a chip.
03/11/2005 08:05:27 AM
StreetInsider Alert for KEY
Mar 11, 2005 (streetinsider.com via COMTEX) --Ryan Beck & Co. initiated coverage on KeyCorp (NYSE: KEY) with a 'market perform' rating; $35.00 price target. Raymond James downgraded the stock to 'market perform'.
03/11/2005 08:05:27 AM
StreetInsider Alert for ADH
Mar 11, 2005 (streetinsider.com via COMTEX) --Adherex Technologies Inc. (AMEX: ADH) announced that the Drug Development Group (DDG) of the U.S. National Cancer Institute's (NCI) Division of Cancer Treatment and Diagnosis has approved a Level III collaboration for the clinical development of the Company's lead biotechnology compound ADH-1, also known as Exherin(TM), provided additional preclinical studies be conducted.
03/11/2005 08:05:26 AM
StreetInsider Alert for TQNT
Mar 11, 2005 (streetinsider.com via COMTEX) --TriQuint Semiconductor (Nasdaq:TQNT) announced that it has been awarded a multi-year contract from the Defense Advanced Research Projects Agency (DARPA) to develop high power wide band amplifiers in gallium nitride. Gallium nitride High Electron Mobility Transistor (HEMT) devices provide the higher power density and efficiency required for high power phased array radar, electronic warfare, missile seeker and communications systems. The Army Research Laboratory in Adelphi, Md., is the contracting activity (W911QX-05-C-0087).
The contract is in two phases. The first phase, lasting three years and valued at $15.8 million, covers the development of gallium nitride material and devices to improve performance and reliability. The second, optional phase covers years four and five and is valued at $15.9 million. This phase will develop gallium nitride high power, wide band amplifiers and package technology for insertion into Department of Defense (DoD) systems.
03/11/2005 08:05:26 AM
StreetInsider Alert for FRX
Mar 11, 2005 (streetinsider.com via COMTEX) --Soleil Securities initiated coverage on Forest Laboratories Inc (NYSE: FRX) with a 'sell' rating and $35 price target. The firm assigned a Sell rating citing growing concern over impending formulary changes to Lexapro, as managed care organizations look to cut costs through increased utilization of generic SSRIs.
03/11/2005 08:05:25 AM
StreetInsider Alert for BMC
Mar 11, 2005 (streetinsider.com via COMTEX) --U.S. Bancorp Piper Jaffray upgraded BMC Software Inc (NYSE: BMC) from 'market perform' to 'outperform'; target price increased from $17.00 to $19.00.
03/11/2005 08:05:24 AM
StreetInsider Alert for FHRX
Mar 11, 2005 (streetinsider.com via COMTEX) --Soleil Securities initiated coverage on First Horizon Pharmaceutical Corporation (Nasdaq: FHRX) with a 'buy' rating and $22 price target. In the firm's opinion, the key drivers for near term share appreciation will be successful re-launches of recently acquired Altoprev and Fortamet, as well as 2Q FDA action on the fenofibrate product in-licensed from SkyePharma.
03/11/2005 08:00:58 AM
StreetInsider Alert for INSP
Mar 11, 2005 (streetinsider.com via COMTEX) --RBC Capital initiates coverage on InfoSpace (Nasdaq: INSP) with a 'sector perform' ratign and $46 price target.
03/11/2005 08:00:57 AM
StreetInsider Alert for FLYR
Mar 11, 2005 (streetinsider.com via COMTEX) --Navigant International, Inc. (Nasdaq: FLYR) said it will delay the filing of its Form 10-K for the fiscal year ended December 26, 2004. As a result, Navigant will file a Notification of Late Filing on Form 12b-25 with the Securities and Exchange Commission. Without this extension, Navigant's Form 10-K would be due today, March 11, 2005.
03/11/2005 08:00:56 AM
StreetInsider Alert for AH
Mar 11, 2005 (streetinsider.com via COMTEX) --Armor Holdings, Inc. (NYSE: AH) receives a $35 million order to provide new HMMWV Armor System.
03/11/2005 08:00:56 AM
StreetInsider Alert for KEG
Mar 11, 2005 (streetinsider.com via COMTEX) --Raymond James downgrades Key Energy Services (NYSE: KEG) from Market Perform to Underperform, citing higher risk of delisting and default of debt obligations.
03/11/2005 08:00:46 AM
StreetInsider Alert for INCY
Mar 11, 2005 (streetinsider.com via COMTEX) --Morgan Stanley initiates coverage on Incyte Corp. (Nasdaq: INCY) with an 'overweight' rating and $11 price target.
03/11/2005 08:00:45 AM
StreetInsider Alert for FGP
Mar 11, 2005 (streetinsider.com via COMTEX) --Wachovia Securities upgrades Ferrellgas Partners (NYSE: FGP) from Underperform to Market Perform on current valuation.
03/11/2005 08:00:44 AM
StreetInsider Alert for NUCO
Mar 11, 2005 (streetinsider.com via COMTEX) --NuCO2 Inc. (Nasdaq: NUCO) announced that it has filed a preliminary prospectus supplement with the Securities and Exchange Commission relating to an underwritten public offering of 3,665,000 shares of its common stock under a shelf registration statement.
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03/11/2005 08:00:38 AM
StreetInsider Alert for VC
Mar 11, 2005 (streetinsider.com via COMTEX) --Prudential Securities upgrades Visteon (NYSE: VC) from Underweight to Neutral after financial agreement announced with Ford Motor-Price target $7.
03/11/2005 08:00:37 AM
StreetInsider Alert for TRI
Mar 11, 2005 (streetinsider.com via COMTEX) --Bank of America upgrades Triad Hospitals (NYSE: TRI) from Neutral to Buy on positive earnings outlook for 2005.
03/11/2005 08:00:37 AM
StreetInsider Alert for VC
Mar 11, 2005 (streetinsider.com via COMTEX) --Ford Motor (NYSE: F) and Visteon Corp. (NYSE: VC) have reached a financial agreement designed to help the stuggling auto supplier. Under the agreement, Ford will reduce the wage reimbursements Visteon now pays for Ford hourly workers assigned to work at Visteon, which is expected to save the company $25 million per month. Ford has also agreed to advance $120 million in payments that aren't required until after March 31 and will accelerate future payments.
03/11/2005 08:00:36 AM
StreetInsider Alert for SAFT
Mar 11, 2005 (streetinsider.com via COMTEX) --Keefe Bruyette downgrades Safety Insurance Group (Nasdaq: SAFT) from Outperform to Market Perform on valuation-Price target $39.
03/11/2005 08:00:35 AM
StreetInsider Alert for SVNT
Mar 11, 2005 (streetinsider.com via COMTEX) --Savient Pharmaceuticals (Nasdaq: SVNT) announced today that its dose ranging Phase 2 trial of Prosaptide will be terminated. This trial was designed to test the safety and analgesic efficacy of Prosaptide in HIV/AIDS patients with peripheral neuropathic pain.
03/11/2005 08:00:35 AM
StreetInsider Alert for MANH
Mar 11, 2005 (streetinsider.com via COMTEX) --Smith Barney upgrades Manhattan Associates (Nasdaq: MANH) from Hold to Buy on recent collaboration with Microsoft Industry Builder Initiative-Price target $27.
03/11/2005 08:00:34 AM
StreetInsider Alert for APD
Mar 11, 2005 (streetinsider.com via COMTEX) --UBS Securities downgrades Air Products (NYSE: APD) from Buy to Neutral on valuation-Price target $70.
03/11/2005 08:00:27 AM
StreetInsider Alert for BTN
Mar 11, 2005 (streetinsider.com via COMTEX) --Ballantyne of Omaha (AMEX: BTN) reports Q4 earnings of $0.09 per share, in-line with estimates. Q4 revenues were $14.5 million, slightly higher than analysts estimates of $14.2 million.
03/11/2005 08:00:27 AM
StreetInsider Alert for CNCT
Mar 11, 2005 (streetinsider.com via COMTEX) --Piper Jaffray upgrades Connetics Corp (Nasdaq: CNCT) from Market Perform to Outperform on positive outlook-Price target $32.
03/11/2005 08:00:26 AM
StreetInsider Alert for DAL
Mar 11, 2005 (streetinsider.com via COMTEX) --Delta Air Lines (NYSE: DAL) may still file for bankruptcy protection after the company warned it will post another substantial loss. This comes after a recent round of pay cuts and other cost reductions.
03/11/2005 08:00:26 AM
StreetInsider Alert for SIRF
Mar 11, 2005 (streetinsider.com via COMTEX) --Deutsche Bank upgrades SiRF Technology (Nasdaq: SIRF) from Hold to Buy on strong product demand outlook-Price target $14.
03/11/2005 08:00:25 AM
StreetInsider Alert for QCOM
Mar 11, 2005 (streetinsider.com via COMTEX) --UBS Securities upgrades QUALCOMM (Nasdaq: QCOM) from Neutral to Buy on positive growth outlook-Price target $50.
03/11/2005 08:00:25 AM
StreetInsider Alert for KMRT
Mar 11, 2005 (streetinsider.com via COMTEX) --UBS Securities upgrades Kmart (Nasdaq: KMRT) from Hold to Buy on positive merger outlook-Price target $160.
03/11/2005 08:00:23 AM
StreetInsider Alert for UDI
Mar 11, 2005 (streetinsider.com via COMTEX) --Friedman Billings downgrades United Defense Industries (NYSE: UDI) from Outperform to Market Perform after announcement of BAE Systems acquisition.
03/11/2005 08:00:23 AM
StreetInsider Alert for WFMI
Mar 11, 2005 (streetinsider.com via COMTEX) --Prudential Securities downgrades Whole Foods Market (Nasdaq: WFMI) from Overweight to Neutral on valuation.
03/11/2005 08:00:22 AM
StreetInsider Alert for LIN
Mar 11, 2005 (streetinsider.com via COMTEX) --CIBC World Markets downgrades Linens 'n Things (NYSE: LIN) from Outperformer to Sector Performer on lower earnings outlook.
03/11/2005 08:00:21 AM
StreetInsider Alert for CVC
Mar 11, 2005 (streetinsider.com via COMTEX) --The Wall Street Journal reports Cablevision Systems (NYSE: CVC) Chairman Charles Dolan has announced plans to fund operations for Voom use his own cash and stock in the company. It is reported that Dolan will use up to $10 million of his own money in cash and Cablevision stock.
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http://www.investing-news.com/artman/publish/article_617.shtml
By StreetInsider.com, Investing-News.Com
Mar 11, 2005, 21:45
DJ:INDU ( KMRT XOMA ERES ) REV PAS MCRL IINT SGTL APPB ATVI (To Earlier Below)
03/11/2005 04:25:26 PM
StreetInsider Alert for DJ:INDU
Mar 11, 2005 (streetinsider.com via COMTEX) --The Dow finished 77.15 points lower to close at 10,774, the Nasdaq lost 18.12 points to close at 2,042, and the S&P 500 lost 9.17 points to close at 1,200.
The markets closed out the trading session in the red today as positive sentiment spurred by a UBS upgrade and price target increase of Kmart Holding Corp (Nasdaq: KMRT) was eclipsed by concerns over inflation and the rising price of crude oil as well as economic data showing the Trade Deficit at its second highest level in history.
Volume was light today with 1.44 billion shares trading on the NYSE and 1.77 billion on the Nasdaq. Decliners outpaced advancers by a margin of 20:13 on the NYSE, and by a margin of 17:14 on the Nasdaq.
In individual stories, XOMA Ltd. (Nasdaq: XOMA) closed 25.96% higher after the company was awarded a $15 million contract from the National Institute of Allergy and Infectious Diseases (NIAID). On the downside, eResearchTechnology, Inc. (Nasdaq: ERES) closed 16.21% lower after the company warned for Q1 revenues.
There is no economic data scheduled for release on Monday.
03/11/2005 04:15:18 PM
StreetInsider Alert for REV
Mar 11, 2005 (streetinsider.com via COMTEX) --Revlon, Inc. (NYSE: REV) announced that its wholly-owned subsidiary, Revlon Consumer Products Corporation, has priced its previously-announced offering of Senior Notes due 2011 (the "Notes"). The interest rate on the Notes has been set at 9 1/2 % and the transaction has been increased to $310 million, from the initially-announced $205 million, in response to investor demand. The transaction is expected to close on March 16, 2005. The closing of the offering is subject to customary closing conditions and there can be no assurances that the transaction will be consummated.
03/11/2005 04:10:21 PM
StreetInsider Alert for PAS
Mar 11, 2005 (streetinsider.com via COMTEX) --PepsiAmericas, Inc. (NYSE: PAS) announced that Mike Durkin will assume the position of executive vice president of U.S. operations, effective March 21. Mr. Durkin, 45, replaces Jim Nolan, who resigned his post last month. He will report to PepsiAmericas' President and Chief Operating Officer Ken Keiser and lead the development and execution of the company's domestic sales and marketing strategy.
03/11/2005 04:10:20 PM
StreetInsider Alert for MCRL
Mar 11, 2005 (streetinsider.com via COMTEX) --Micrel, Incorporated (Nasdaq: MCRL), an industry leader in high performance analog and high-speed mixed-signal solutions reported today that its Board of Directors has approved a $75 million share repurchase program for calendar year 2005. The action supercedes the Company's previously approved authorization to repurchase Micrel common stock announced on August 30, 2004. Repurchased shares will be used to offset the dilution arising from the Company's obligations under its stock option plans, employee stock purchase plan and 401(k) plan.
03/11/2005 04:10:20 PM
StreetInsider Alert for IINT
Mar 11, 2005 (streetinsider.com via COMTEX) --Indus International Inc. (NASDAQ: IINT) announced that President and CEO Greg Dukat has adopted a prearranged trading plan in accordance with guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934, and the company's policies with respect to insider sales.
03/11/2005 04:10:11 PM
StreetInsider Alert for SGTL
Mar 11, 2005 (streetinsider.com via COMTEX) --SigmaTel, Inc. (NASDAQ: SGTL) and A-MAX Technology, Ltd. announced a strategic partnership for developing and manufacturing portable digital audio devices.
03/11/2005 04:05:18 PM
StreetInsider Alert for APPB
Mar 11, 2005 (streetinsider.com via COMTEX) --Applebee's International, Inc. (Nasdaq: APPB) announced that it will file a Form 12b-25 for a fifteen-day extension of the March 11, 2005 filing deadline for its Annual Report on Form 10-K for the fiscal year ended December 26, 2004. The company now expects to file its Annual Report on Form 10-K on or before March 28, 2005.
03/11/2005 04:05:17 PM
StreetInsider Alert for ATVI
Mar 11, 2005 (streetinsider.com via COMTEX) --Activision, Inc. (Nasdaq: ATVI), a leading developer, publisher and distributor of interactive entertainment software products, and Viacom Consumer Products Inc., today jointly announced that they have reached an agreement that settles their legal disputes regarding their license agreement for "Star Trek" video games. As a result of the settlement, all pending lawsuits filed by each party in the Superior Court in Los Angeles regarding this matter have been dismissed. All other terms of the settlement agreement will remain confidential.
~~~ What To Look For ~~~ [ ALT + BACK ARROW ] to Return
PRTL NOI T AZO ATW ROG DJ:INDU ( XOMA ERES VC F CNLG AVNX LVB JILL LIN KMRT SIRF NUE )FLWS KOPN (To Earlier Below)
03/11/2005 03:55:27 PM
StreetInsider Alert for PRTL
Mar 11, 2005 (streetinsider.com via COMTEX) --Primus Telecommunications Group, Incorporated (Nasdaq: PRTL) reported that the private equity funds managed by subsidiaries of AIG Capital Partners, Inc. ("AIGCP") that hold Primus common stock have adopted a pre-arranged stock trading plan to sell less than 20 percent of their Primus common stock over time as part of a long-term strategy for asset diversification and liquidity. The stock trading plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934.
The Plan involves 3,000,000 shares, or approximately eighteen percent (18%) of the shares beneficially owned by the Funds. The Plan represents approximately three percent (3%) of the Primus common stock outstanding. Under the terms of the Plan, the Funds have given their broker the discretion to sell, within stated parameters, up to 3,000,000 shares over the next 18 months, which, if all were sold, would leave the Funds with beneficial ownership of approximately 13,500,000 shares, or more than eighty percent (80%) of their current holdings.
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03/11/2005 03:20:09 PM
StreetInsider Alert for NOI
Mar 11, 2005 (streetinsider.com via COMTEX) --National-Oilwell, Inc. (NYSE: NOI) and Varco International, Inc. (NYSE: VRC) jointly announced today that the merger of the two companies was approved today by stockholders of each company by substantial margins. In addition, stockholders of National Oilwell also approved the National Oilwell Varco Long-Term Incentive Plan. All conditions to the merger have been satisfied. A certificate of merger has been filed in the State of Delaware, which provides that the merger will become effective at 3 p.m., central time, today. Effective Monday, March 14, National Oilwell Varco's common stock will trade under the symbol NOV on the New York Stock Exchange.
03/11/2005 03:15:27 PM
StreetInsider Alert for T
Mar 11, 2005 (streetinsider.com via COMTEX) --AT&T (NYSE: T) is pleased to have reached an amicable resolution with the Pennsylvania Attorney General over a "Do-Not-Call" issue, which saves both organizations the time and expense that would have been consumed by litigation.
The purpose of this agreement is to settle the matter and is not a finding or admission of wrongdoing by AT&T. Under the terms of the agreement, AT&T will pay $34,500 to the Commonwealth of Pennsylvania.
03/11/2005 03:15:14 PM
StreetInsider Alert for AZO
Mar 11, 2005 (streetinsider.com via COMTEX) --AutoZone, Inc. (NYSE: AZO) announced the filing of its Form 10-Q for the fiscal second quarter ended February 12, 2005.
As previously announced, based upon recent SEC clarification, these financial statements include an adjustment associated with its accounting for leases and related leasehold improvements. The non-cash adjustment expensed in the quarter was $25.4 million net of tax ($0.31 per share), substantially all of which related to prior years. For the remainder of fiscal 2005, the Company expects this change in accounting to have an immaterial impact on its results of operations.
03/11/2005 02:55:21 PM
StreetInsider Alert for ATW
Mar 11, 2005 (streetinsider.com via COMTEX) --Atwood Oceanics, Inc. (NYSE: ATW) announced that the SEAHAWK has been awarded an additional contract by Sarawak Shell Berhad/Sabah Shell Petroleum Company Limited ("Shell") to drill two (2) to three (3) wells on one platform and two (2) wells on a second platform which is estimated to take six to eight months to complete. The contract provides Shell with an option to drill up to six months of additional work; however, the Company retains the right to not consent to any additional work with a well spud date after February 15, 2006. The contract provides for a $50,000 operating dayrate, with a fee of $289,170 payable when the rig was moved in March 2005 to its current dockside location in Malaysia and a fee of $315,000 payable when the rig arrives at the first platform location in May 2005. The rig will be off dayrate for approximately 45 days between completion of the prior contract with Shell and the commencement of this additional contract with Shell. In February/March 2006, the Company expects to commence preparing the SEAHAWK for its contract commitment with Amerada Hess Equatorial Guinea, Inc. off the coast of Equatorial Guinea.
03/11/2005 02:10:15 PM
StreetInsider Alert for ROG
Mar 11, 2005 (streetinsider.com via COMTEX) --Rogers Corporation (NYSE: ROG) announced that James M. Rutledge, Vice President of Finance, Chief Financial Officer and Treasurer, has resigned effective today for personal reasons.
03/11/2005 01:50:16 PM
StreetInsider Alert for DJ:INDU
Mar 11, 2005 (streetinsider.com via COMTEX) --03/11: StreetInsider.com's Unusual 11 Afternnon Movers:
XOMA Ltd. (Nasdaq: XOMA) 28.85% HIGHER; awarded a $15 million contract from NIAID.
eResearchTechnology, Inc. (Nasdaq: ERES) 17.80% LOWER; warned for Q1 revenues.
Visteon Corp. (NYSE: VC) 14.86% HIGHER; Ford Motor (NYSE: F) and VC have reached a financial agreement designed to help the stuggling auto supplier.
Conolog Corporation (Nasdaq: CNLG) 13.94% HIGHER; received military contracts.
Avanex (Nasdaq: AVNX) 13.92% LOWER; sees Q3 revs of $40-$42 million, versus the $42 million consensus and expects Q3 pro forma loss to be "slightly greater" than Q2.
Steinway Musical Instruments Inc. (NYSE: LVB) 13.62% HIGHER; posted strong Q4 results.
J. Jill Group, Inc. (Nasdaq: JILL) 12.35% LOWER; warned for Q1 net sales. In addition, Sanders Morris downgraded the stock and Piper Jaffray cut its price target on the stock.
Linens 'n Things (NYSE: LIN) 11.44% LOWER; CIBC World Markets downgraded the stock.
Kmart Holding Corp (Nasdaq: KMRT) 9.49% HIGHER; UBS upgraded the stock to a 'buy' rating and $160 price target.
SiRF Technology (Nasdaq: SIRF) 8.80% HIGHER; Deutsche Bank upgraded the stock.
Nucor Corporation (NYSE: NUE) 8.29% HIGHER; increased earnings guidance for Q1.
03/11/2005 01:45:20 PM
StreetInsider Alert for FLWS
Mar 11, 2005 (streetinsider.com via COMTEX) --1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), the leading florist and retailer of thoughtful gifts for all occasions and Cheryl & Co., Inc., a Westerville, Ohio-based manufacturer and seller of cookies and related baked gift items, today announced that the companies have signed a definitive merger agreement under which 1-800-FLOWERS.COM will acquire all of the stock of Cheryl & Co. in an all-cash purchase valued at approximately $40 million. The agreement is subject to a final vote of Cheryl & Co. shareholders and is expected to close by March 31, 2005.
03/11/2005 01:40:14 PM
StreetInsider Alert for KOPN
Mar 11, 2005 (streetinsider.com via COMTEX) --Kopin Corp (Nasdaq: KOPN) disclosed in an 8-K filing that on March 11, 2005, the Registrant filed a Form 12b-25 with the Securities and Exchange Commission pursuant to which it reported that its Annual Report on Form 10-K for the fiscal year ended December 25, 2004 could not be filed within the prescribed time period without unreasonable effort or expense and that the Form 10-K will be filed on or before the fifteenth calendar day following the prescribed due date.
~~~ Expert Analysis ~~~ [ ALT + BACK ARROW ] to Return
EPR BABY PPP SHMR EGN MBI MERB (To Earlier Below)
03/11/2005 01:20:14 PM
StreetInsider Alert for EPR
Mar 11, 2005 (streetinsider.com via COMTEX) --Entertainment Properties Trust (NYSE: EPR) announced the acquisition of the East Ridge 18 megaplex in Chattanooga, TN, for a total project cost of approximately $14.5 million.
03/11/2005 01:10:15 PM
StreetInsider Alert for BABY
Mar 11, 2005 (streetinsider.com via COMTEX) --Natus Medical Incorporated (Nasdaq: BABY) announced that at a meeting of its Board of Directors on March 10, 2005, the Board approved an amendment to the Company's stockholder rights plan increasing the threshold percentage of ownership that would result in a person or group being an "acquiring person" from 15% to 20%. This change to the plan will become effective as soon as practicable, pending the company's completion of the amendment to its rights plan with the rights agent. Jim Hawkins, President and Chief Executive Officer of Natus said, "Our board determined that it was in the interests of our stockholders to increase the percentage of our shares that could be acquired under our plan, while still preserving the beneficial effects of the plan for our stockholders."
03/11/2005 01:05:15 PM
StreetInsider Alert for PPP
Mar 11, 2005 (streetinsider.com via COMTEX) --Pogo Producing Company (NYSE: PPP) has discovered commercial accumulations of hydrocarbons in its 100%-owned Ewing Bank Block 948 in the Outer Continental Shelf (OCS), it was announced today. The 948 No. 1 well is located in 725 feet of water. Extensive sidewall coring and logging confirms the presence of 100 feet of net natural gas and condensate pay with average porosity calculations better than 26%, and excellent permeability of roughly 500 millidarcies. The vast majority of this Pleistocene Angulogenrina-B pay is in a 200-foot laminated sand interval found between 13,710 feet and 13,910 feet measured depth. Sidetracking operations are now underway which will be expected to yield the optimum take-point for this discovery structure. A subsea completion will be utilized, taking production to a nearby host platform by the first half of 2006.
03/11/2005 12:05:17 PM
StreetInsider Alert for SHMR
Mar 11, 2005 (streetinsider.com via COMTEX) --Today's 4 million share IPO for Shamir Optical Industry (Nasdaq: SHMR) is open for trading. The stock is tradng at $16.04 after pricing at $14.
Shamir Optical is an Israeli-based company which makes progressive lenses to treat a condition when the eye is unable to focus on close objects.
03/11/2005 11:55:16 AM
StreetInsider Alert for EGN
Mar 11, 2005 (streetinsider.com via COMTEX) --Energen Corporation (NYSE: EGN) said it continues to capitalize on commodity price volatility by hedging still more of its estimated 2006 natural gas and oil production; as a result, the diversified energy company is raising its earnings guidance for 2006 by 25 cents to a new range of $4.90-$5.10 per diluted share (consensus $4.56). Energen also said it is increasing its earnings guidance range for 2005 by 20 cents to a new range of $4.45-$4.65 per diluted share in recognition of the market strength of near-term commodity prices (consensus $4.39).
03/11/2005 11:10:15 AM
StreetInsider Alert for MBI
Mar 11, 2005 (streetinsider.com via COMTEX) --MBIA Inc. (NYSE: MBI) declared an increase in its regular quarterly dividend to 28 cents per share on its common stock, which was approved by the board of directors. This press release corrects the release issued last night that indicated the quarterly dividend was 24 cents per share.
03/11/2005 10:40:22 AM
StreetInsider Alert for MERB
Mar 11, 2005 (streetinsider.com via COMTEX) --Merrill Merchants Bancshares, Inc (Nasdaq: MERB) has declared a cash dividend of $ .15 per share on the Company's common stock for the first quarter of 2005. This is an increase of 19% over last year's first quarter dividend. The cash dividend will be payable to all shareholders of record as of April 15, 2005, and will be paid on April 29, 2005.
~~~ Don't Trade Alone ~~~ [ ALT + BACK ARROW ] to Return
HRLY LVB VWPT DJ:INDU ( XOMA ERES VC F JILL AVNX SIRF LIN KMRT AIRN ) AIRN PNX (To Earlier Below)
03/11/2005 10:35:23 AM
StreetInsider Alert for HRLY
Mar 11, 2005 (streetinsider.com via COMTEX) --Herley Industries, Inc. (Nasdaq: HRLY) announced that it has been awarded contracts totaling $6.5 million to supply flight termination receivers and hybrids for two U.S. military programs.
03/11/2005 10:35:08 AM
StreetInsider Alert for LVB
Mar 11, 2005 (streetinsider.com via COMTEX) --Steinway Musical Instruments Inc. (NYSE: LVB) is 13% higher in early action after the company reported strong Q4 results. Net sales increased 13% for the fourth quarter, to $107 million. Cash flow from operations was $32 million, up 25%, and EBITDA was $15 million. Basic EPS increased 55%, to $0.87 from $0.56 (consensus $0.61/one analyst).
03/11/2005 10:30:19 AM
StreetInsider Alert for VWPT
Mar 11, 2005 (streetinsider.com via COMTEX) --Viewpoint (Nasdaq: VWPT) announced the successful design, implementation and launch of its first project for CanWest Global Communications Corporation (NYSE: CWG), Canada's leading international media company. The project is a rich media mini-site featuring video and audio that provides users with dynamic updates of CanWest's CanSpell National Spelling Bee Competition.
03/11/2005 10:30:18 AM
StreetInsider Alert for DJ:INDU
Mar 11, 2005 (streetinsider.com via COMTEX) --03/11: StreetInsider.com's Unusual 8 Morning Movers:
XOMA Ltd. (Nasdaq: XOMA) 37.50% HIGHER; awarded a $15 million contract from the National Institute of Allergy and Infectious Diseases (NIAID).
eResearchTechnology, Inc. (Nasdaq: ERES) 26.96% LOWER; warned for Q1 revenues.
Visteon Corp. (NYSE: VC) 17.41% HIGHER; Ford Motor (NYSE: F) and VC have reached a financial agreement designed to help the stuggling auto supplier. In addition, Prudential upgraded the stock.
J. Jill Group, Inc. (Nasdaq: JILL) 12.92% LOWER; warned for Q1 net sales. In addition, Sanders Morris downgraded the stock and Piper Jaffray cut its price target on the stock.
Avanex (Nasdaq: AVNX) 10.84% LOWER; sees Q3 revs of $40-$42 million, versus the $42 million consensus and expects Q3 pro forma loss to be "slightly greater" than Q2.
SiRF Technology (Nasdaq: SIRF) 10.00% HIGHER; Deutsche Bank upgraded the stock.
Linens 'n Things (NYSE: LIN) 8.97% LOWER; CIBC World Markets downgraded the stock.
Kmart Holding Corp (Nasdaq: KMRT) 7.05% HIGHER; UBS upgraded the stock to a 'buy' rating and $160 price target.
03/11/2005 09:40:05 AM
StreetInsider Alert for AIRN
Mar 11, 2005 (streetinsider.com via COMTEX) --Airspan Networks, Inc. (Nasdaq: AIRN) and YOZAN Inc., a leading telecommunications operator providing services throughout the Tokyo Metropolitan area, have reached an agreement to deploy a Tokyo-wide WiMAX network. The Yozan MetroZone will deliver high speed IP connectivity, and support Voice, Video and broadband data services. The contract is valued in excess of $12 million.
03/11/2005 09:30:14 AM
StreetInsider Alert for PNX
Mar 11, 2005 (streetinsider.com via COMTEX) --The Phoenix Companies, Inc. (NYSE: PNX) reported a $5.4 million increase in fourth quarter 2004 net income to $48.3 million and full-year 2004 net income to $86.4 million, compared with the amounts previously reported on February 8, 2005. These results were included in Phoenix's Annual Report on Form 10-K for the year ended December 31, 2004, filed with the Securities Exchange Commission. Total segment income for the fourth quarter and full year 2004 remain unchanged.
~~~ Guidance For Trades ~~~ [ ALT + BACK ARROW ] to Return
NUE JILL DRS ZQK AMV EEI GPS ELMS AHG GLBC MANA AT BWS PETC NLY IM SFI GKK WBSN LNC PRU ENER CP NFS BOH KGC MNTG UNM IPG NGEN KEY ADH TQNT FRX BMC FHRX INSP FLYR AH KEG INCY FGP NUCO VC TRI VC SAFT SVNT MANH APD BTN CNCT DAL SIRF QCOM KMRT UDI WFMI LIN CVC
03/11/2005 09:25:09 AM
StreetInsider Alert for NUE
Mar 11, 2005 (streetinsider.com via COMTEX) --Nucor Corporation (NYSE: NUE) increased the earnings guidance for its first quarter ending April 2, 2005. Nucor expects first quarter net earnings to be in the range of $1.95 to $2.15 per share, significantly better than the $1.70 to $1.90 per share that Nucor had previously forecast (consensus 1.82).
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03/11/2005 09:20:23 AM
StreetInsider Alert for JILL
Mar 11, 2005 (streetinsider.com via COMTEX) --Sanders Morris Harris downgraded J. Jill Group Inc (Nasdaq: JILL) from 'buy' to 'hold'.
03/11/2005 09:20:12 AM
StreetInsider Alert for DRS
Mar 11, 2005 (streetinsider.com via COMTEX) --DRS Technologies, Inc. (NYSE: DRS) announced that it has completed the sale of its DRS Broadcast Technology, Inc. and DRS Weather Systems, Inc. units to The Veritas Capital Fund II, L.P., a New York-based investment company, in a stock purchase transaction. The company's intent to sell these operating units was disclosed previously.
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03/11/2005 09:15:13 AM
StreetInsider Alert for ZQK
Mar 11, 2005 (streetinsider.com via COMTEX) --Pacific Growth upgraded Quiksilver Inc (NYSE: ZQK) from 'equal weight' to 'overweight'.
03/11/2005 09:15:13 AM
StreetInsider Alert for AMV
Mar 11, 2005 (streetinsider.com via COMTEX) --Robert Baird & Co. upgraded Amerivest Properties Inc (AMEX: AMV) from 'neutral' to 'outperform'; $7.00 price target.
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03/11/2005 09:05:18 AM
StreetInsider Alert for EEI
Mar 11, 2005 (streetinsider.com via COMTEX) --Ecology & Environment Inc (NYSE: EEI) was selected by the Texas Commission on Environmental Quality (TCEQ) to support its statewide dry cleaner remediation program for the next three plus years, with an estimated contract value of $1 million per year.
03/11/2005 09:05:18 AM
StreetInsider Alert for GPS
Mar 11, 2005 (streetinsider.com via COMTEX) --Gap Inc. (NYSE: GPS) announced that it has called for the full redemption on March 31, 2005 of the $1.37 billion aggregate principal amount outstanding of its 5.75% Convertible Senior Notes due March 15, 2009 (the "Notes"). On March 31, 2005, all of the outstanding Notes will be redeemed. Note holders will receive cash at a redemption price equal to 102.46% of the principal amount of the Note, plus accrued interest excluding the redemption date, for a total of approximately $1,027 per $1,000 principal amount of Notes.
03/11/2005 09:05:07 AM
StreetInsider Alert for ELMS
Mar 11, 2005 (streetinsider.com via COMTEX) --ERI Acquisition Corp. announced that its cash tender offer at an offer price of $7.50 per share for all of the outstanding common stock of Elmer's Restaurants, Inc. (Nasdaq: ELMS) not owned by a group of continuing shareholders led by Bruce N. Davis, Chairman of the Board and President of the Company, expired at 5:00 p.m., Eastern Standard Time, on March 10, 2005. Purchaser has accepted for purchase and payment all of the shares validly tendered as of the expiration date of the Offer and intends to make prompt payment for such tendered shares.
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03/11/2005 08:55:08 AM
StreetInsider Alert for AHG
Mar 11, 2005 (streetinsider.com via COMTEX) --Pacific Growth downgrades Apria Healthcare Group Inc (NYSE: AHG) from 'overweight' to 'equal weight'.
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03/11/2005 08:40:13 AM
StreetInsider Alert for GLBC
Mar 11, 2005 (streetinsider.com via COMTEX) --Global Crossing (Nasdaq: GLBC) announced that in conjunction with its Global Channel Partner Transit Broker LLC, it has implemented a managed global IP VPN, for multinational Inalfa Roof Systems. The backbone replaces and significantly upgrades the functionality of a previous frame relay network, and connects corporate locations in the U.S., UK and the Netherlands, with Italy and Korea to follow. The agreement between the two companies was signed in March 2004.
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03/11/2005 08:35:12 AM
StreetInsider Alert for MANA
Mar 11, 2005 (streetinsider.com via COMTEX) --Manatron, Inc. (Nasdaq: MANA) announced that it has received a contract totaling $3.2 million over five years from the City of Nashville, Tennessee to provide its new Property Tax solution. The software, related implementation services, and ongoing support will be provided to the Davidson County Trustee's Office.
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03/11/2005 08:20:25 AM
StreetInsider Alert for AT
Mar 11, 2005 (streetinsider.com via COMTEX) --Thomas Weisel initiated coverage on Alltel Corp (NYSE: AT) with a 'peer perform' rating.
03/11/2005 08:20:24 AM
StreetInsider Alert for BWS
Mar 11, 2005 (streetinsider.com via COMTEX) --Brean Murray initiated coverage on Brown Shoe Co Inc (NYSE: BWS) with a 'buy' rating; $40.00 price target.
03/11/2005 08:20:23 AM
StreetInsider Alert for PETC
Mar 11, 2005 (streetinsider.com via COMTEX) --ThinkEquity Partners upgraded PETCO Animal Supplies Inc (Nasdaq: PETC) from an 'accumulate' to 'buy' rating with a $45 price target. The firm based its upgrade on valuation and a solid outlook.
03/11/2005 08:20:23 AM
StreetInsider Alert for NLY
Mar 11, 2005 (streetinsider.com via COMTEX) --Salomon Smith Barney initiated coverage on Annaly Mortgage Management Inc (NYSE: NLY) with a 'sell' rating; $16.00 price target. The firm thinks the negative earnings impact of rising short-term interest rates and a flatter yield curve will trump most earnings positives.
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03/11/2005 08:15:25 AM
StreetInsider Alert for IM
Mar 11, 2005 (streetinsider.com via COMTEX) --Robert W. Baird downgraded Ingram Micro Inc. (NYSE: IM) from an 'outperform' to 'neutral' rating and decreased its price target from $21 to $18 per share. The firm based their downgrade on signals that aggressive price competition among wholesale distributors lays ahead. They noted Ingram should pace market performance as moderating demand is creating more competitive conditions in this overcapacitized industry -- a situation the firm does not see improving in the near term.
03/11/2005 08:15:24 AM
StreetInsider Alert for SFI
Mar 11, 2005 (streetinsider.com via COMTEX) --Salomon Smith Barney initiated coverage on iStar Financial Incorporated (NYSE: SFI) with a 'buy' rating; $47.00 price target. The analyst favors SFI's strong national franchise and superior financing model. They believe SFI is a leader and pioneer in the commercial real estate finance business, generating premium yields in the marketplace and capitalizing on opportunities before its competitors.
03/11/2005 08:15:24 AM
StreetInsider Alert for GKK
Mar 11, 2005 (streetinsider.com via COMTEX) --Smith Barney initiated coverage on Gramercy Capital Corporation (NYSE: GKK) with a 'buy' rating and $25 price target. The firm assigned their Buy rating believing GKK benefits from a seasoned mgmt team in the structured finance sector, through a combination of SL Green and newly hired executives. In addition, they stated that SL Green owns 25% of GKK's shares, aligning them with shareholder interests.
03/11/2005 08:15:09 AM
StreetInsider Alert for WBSN
Mar 11, 2005 (streetinsider.com via COMTEX) --Deutsche Bank downgraded Websense Incorporated (Nasdaq: WBSN) from a 'buy' to 'hold' rating and increased its price target from $55 to $62 per share. The firm lowered their rating citing the stock's recent strong performance. They believe, however, that the fundamental outlook remains positive for the shares. In addition, they noted that they would not be putting new money in the shares today, but investors who already own the stock should continue to do so as billing growth may justify an even higher price target in the future.
03/11/2005 08:15:08 AM
StreetInsider Alert for LNC
Mar 11, 2005 (streetinsider.com via COMTEX) --Banc of America initiated coverage on Lincoln National Corporation (NYSE: LNC) with a 'neutral' rating.
03/11/2005 08:15:08 AM
StreetInsider Alert for PRU
Mar 11, 2005 (streetinsider.com via COMTEX) --Banc of America initiated coverage on Prudential Financial, Incorporated (NYSE: PRU) with a 'buy' rating and $66 price target. The firm has named PRU their top pick in the group and think the stock is one of the few companies to deliver ROE expansion in 2005. They also feel ROE improvement will be driven by solid growth in core life and annuities business, a continued shift to higher-margin businesses, the contribution of recent acquisitions and share buyback.
03/11/2005 08:15:06 AM
StreetInsider Alert for ENER
Mar 11, 2005 (streetinsider.com via COMTEX) --Jefferies Group Inc. initiated coverage on Energy Conversion Devices Inc (Nasdaq: ENER) with a 'hold' rating.
03/11/2005 08:10:22 AM
StreetInsider Alert for CP
Mar 11, 2005 (streetinsider.com via COMTEX) --RBC Capital Markets downgraded Canadian Pacific Railway (NYSE: CP) from an 'outperform' to 'sector perform' rating and increased its price target from $45 to $46.50 per share. The firm based their downgrade of the stock on valuation.
03/11/2005 08:10:21 AM
StreetInsider Alert for NFS
Mar 11, 2005 (streetinsider.com via COMTEX) --Banc of America initiated coverage on Nationwide Financial Services, Inc. (NYSE: NFS) with a 'neutral' rating.
03/11/2005 08:10:17 AM
StreetInsider Alert for BOH
Mar 11, 2005 (streetinsider.com via COMTEX) --Keefe Bruyette upgraded Bank of Hawaii Corporation (NYSE: BOH) from a 'market perform' to 'outperform' rating with a $54 price target. The firm based their upgraded on valuation and believes that the current operating environment will be beneficial to Bank of Hawaii due to its strong balance sheet, moderate asset sensitivity and limited local deposit competition.
03/11/2005 08:10:17 AM
StreetInsider Alert for KGC
Mar 11, 2005 (streetinsider.com via COMTEX) --UBS Securities Inc. downgraded Kinross Gold Corporation (NYSE: KGC) from 'buy' to 'neutral'.
03/11/2005 08:10:16 AM
StreetInsider Alert for MNTG
Mar 11, 2005 (streetinsider.com via COMTEX) --Gaming Group, Inc. (Nasdaq: MNTG) reported Q4 earnings of $0.09 per share, 4 cents better tahn estimates. Revenues came in at $71.2 million versus the consensus of $72.4 million.
03/11/2005 08:10:15 AM
StreetInsider Alert for UNM
Mar 11, 2005 (streetinsider.com via COMTEX) --Banc of America initiated coverage on UnumProvident Corporation (NYSE: UNM) with a 'buy' rating; $21.00 price target. The analyst said UNM is positioned as a leader in the income protection and long-term care mkts, which they believe will continue to see improving trends in 2005. They also look for fundamentals to continue to improve, driving earnings growth and a higher valuation.
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03/11/2005 08:05:29 AM
StreetInsider Alert for IPG
Mar 11, 2005 (streetinsider.com via COMTEX) --Interpublic (NYSE: IPG) indicated today that it would require additional time to file its annual report on Form 10-K and to release fourth quarter and full year 2004 earnings.
03/11/2005 08:05:28 AM
StreetInsider Alert for NGEN
Mar 11, 2005 (streetinsider.com via COMTEX) --Nanogen, Inc. (Nasdaq: NGEN), developer of advanced diagnostic products, announced today that it was issued U.S. Patent No. 6,864,071, "Multiplex amplification and separation of nucleic acid sequences using ligation-dependent strand displacement amplification and bioelectronic chip technology," by the U.S. Patent and Trademark Office. The '071 patent relates to amplifying and analyzing multiple samples of nucleic acid using ligation-based strand displacement amplification (SDA) technologies. The intellectual property pertains to research Nanogen conducted in collaboration with Becton Dickinson and increases Nanogen's portfolio of technologies for multiplex amplification on a chip.
03/11/2005 08:05:27 AM
StreetInsider Alert for KEY
Mar 11, 2005 (streetinsider.com via COMTEX) --Ryan Beck & Co. initiated coverage on KeyCorp (NYSE: KEY) with a 'market perform' rating; $35.00 price target. Raymond James downgraded the stock to 'market perform'.
03/11/2005 08:05:27 AM
StreetInsider Alert for ADH
Mar 11, 2005 (streetinsider.com via COMTEX) --Adherex Technologies Inc. (AMEX: ADH) announced that the Drug Development Group (DDG) of the U.S. National Cancer Institute's (NCI) Division of Cancer Treatment and Diagnosis has approved a Level III collaboration for the clinical development of the Company's lead biotechnology compound ADH-1, also known as Exherin(TM), provided additional preclinical studies be conducted.
03/11/2005 08:05:26 AM
StreetInsider Alert for TQNT
Mar 11, 2005 (streetinsider.com via COMTEX) --TriQuint Semiconductor (Nasdaq:TQNT) announced that it has been awarded a multi-year contract from the Defense Advanced Research Projects Agency (DARPA) to develop high power wide band amplifiers in gallium nitride. Gallium nitride High Electron Mobility Transistor (HEMT) devices provide the higher power density and efficiency required for high power phased array radar, electronic warfare, missile seeker and communications systems. The Army Research Laboratory in Adelphi, Md., is the contracting activity (W911QX-05-C-0087).
The contract is in two phases. The first phase, lasting three years and valued at $15.8 million, covers the development of gallium nitride material and devices to improve performance and reliability. The second, optional phase covers years four and five and is valued at $15.9 million. This phase will develop gallium nitride high power, wide band amplifiers and package technology for insertion into Department of Defense (DoD) systems.
03/11/2005 08:05:26 AM
StreetInsider Alert for FRX
Mar 11, 2005 (streetinsider.com via COMTEX) --Soleil Securities initiated coverage on Forest Laboratories Inc (NYSE: FRX) with a 'sell' rating and $35 price target. The firm assigned a Sell rating citing growing concern over impending formulary changes to Lexapro, as managed care organizations look to cut costs through increased utilization of generic SSRIs.
03/11/2005 08:05:25 AM
StreetInsider Alert for BMC
Mar 11, 2005 (streetinsider.com via COMTEX) --U.S. Bancorp Piper Jaffray upgraded BMC Software Inc (NYSE: BMC) from 'market perform' to 'outperform'; target price increased from $17.00 to $19.00.
03/11/2005 08:05:24 AM
StreetInsider Alert for FHRX
Mar 11, 2005 (streetinsider.com via COMTEX) --Soleil Securities initiated coverage on First Horizon Pharmaceutical Corporation (Nasdaq: FHRX) with a 'buy' rating and $22 price target. In the firm's opinion, the key drivers for near term share appreciation will be successful re-launches of recently acquired Altoprev and Fortamet, as well as 2Q FDA action on the fenofibrate product in-licensed from SkyePharma.
03/11/2005 08:00:58 AM
StreetInsider Alert for INSP
Mar 11, 2005 (streetinsider.com via COMTEX) --RBC Capital initiates coverage on InfoSpace (Nasdaq: INSP) with a 'sector perform' ratign and $46 price target.
03/11/2005 08:00:57 AM
StreetInsider Alert for FLYR
Mar 11, 2005 (streetinsider.com via COMTEX) --Navigant International, Inc. (Nasdaq: FLYR) said it will delay the filing of its Form 10-K for the fiscal year ended December 26, 2004. As a result, Navigant will file a Notification of Late Filing on Form 12b-25 with the Securities and Exchange Commission. Without this extension, Navigant's Form 10-K would be due today, March 11, 2005.
03/11/2005 08:00:56 AM
StreetInsider Alert for AH
Mar 11, 2005 (streetinsider.com via COMTEX) --Armor Holdings, Inc. (NYSE: AH) receives a $35 million order to provide new HMMWV Armor System.
03/11/2005 08:00:56 AM
StreetInsider Alert for KEG
Mar 11, 2005 (streetinsider.com via COMTEX) --Raymond James downgrades Key Energy Services (NYSE: KEG) from Market Perform to Underperform, citing higher risk of delisting and default of debt obligations.
03/11/2005 08:00:46 AM
StreetInsider Alert for INCY
Mar 11, 2005 (streetinsider.com via COMTEX) --Morgan Stanley initiates coverage on Incyte Corp. (Nasdaq: INCY) with an 'overweight' rating and $11 price target.
03/11/2005 08:00:45 AM
StreetInsider Alert for FGP
Mar 11, 2005 (streetinsider.com via COMTEX) --Wachovia Securities upgrades Ferrellgas Partners (NYSE: FGP) from Underperform to Market Perform on current valuation.
03/11/2005 08:00:44 AM
StreetInsider Alert for NUCO
Mar 11, 2005 (streetinsider.com via COMTEX) --NuCO2 Inc. (Nasdaq: NUCO) announced that it has filed a preliminary prospectus supplement with the Securities and Exchange Commission relating to an underwritten public offering of 3,665,000 shares of its common stock under a shelf registration statement.
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03/11/2005 08:00:38 AM
StreetInsider Alert for VC
Mar 11, 2005 (streetinsider.com via COMTEX) --Prudential Securities upgrades Visteon (NYSE: VC) from Underweight to Neutral after financial agreement announced with Ford Motor-Price target $7.
03/11/2005 08:00:37 AM
StreetInsider Alert for TRI
Mar 11, 2005 (streetinsider.com via COMTEX) --Bank of America upgrades Triad Hospitals (NYSE: TRI) from Neutral to Buy on positive earnings outlook for 2005.
03/11/2005 08:00:37 AM
StreetInsider Alert for VC
Mar 11, 2005 (streetinsider.com via COMTEX) --Ford Motor (NYSE: F) and Visteon Corp. (NYSE: VC) have reached a financial agreement designed to help the stuggling auto supplier. Under the agreement, Ford will reduce the wage reimbursements Visteon now pays for Ford hourly workers assigned to work at Visteon, which is expected to save the company $25 million per month. Ford has also agreed to advance $120 million in payments that aren't required until after March 31 and will accelerate future payments.
03/11/2005 08:00:36 AM
StreetInsider Alert for SAFT
Mar 11, 2005 (streetinsider.com via COMTEX) --Keefe Bruyette downgrades Safety Insurance Group (Nasdaq: SAFT) from Outperform to Market Perform on valuation-Price target $39.
03/11/2005 08:00:35 AM
StreetInsider Alert for SVNT
Mar 11, 2005 (streetinsider.com via COMTEX) --Savient Pharmaceuticals (Nasdaq: SVNT) announced today that its dose ranging Phase 2 trial of Prosaptide will be terminated. This trial was designed to test the safety and analgesic efficacy of Prosaptide in HIV/AIDS patients with peripheral neuropathic pain.
03/11/2005 08:00:35 AM
StreetInsider Alert for MANH
Mar 11, 2005 (streetinsider.com via COMTEX) --Smith Barney upgrades Manhattan Associates (Nasdaq: MANH) from Hold to Buy on recent collaboration with Microsoft Industry Builder Initiative-Price target $27.
03/11/2005 08:00:34 AM
StreetInsider Alert for APD
Mar 11, 2005 (streetinsider.com via COMTEX) --UBS Securities downgrades Air Products (NYSE: APD) from Buy to Neutral on valuation-Price target $70.
03/11/2005 08:00:27 AM
StreetInsider Alert for BTN
Mar 11, 2005 (streetinsider.com via COMTEX) --Ballantyne of Omaha (AMEX: BTN) reports Q4 earnings of $0.09 per share, in-line with estimates. Q4 revenues were $14.5 million, slightly higher than analysts estimates of $14.2 million.
03/11/2005 08:00:27 AM
StreetInsider Alert for CNCT
Mar 11, 2005 (streetinsider.com via COMTEX) --Piper Jaffray upgrades Connetics Corp (Nasdaq: CNCT) from Market Perform to Outperform on positive outlook-Price target $32.
03/11/2005 08:00:26 AM
StreetInsider Alert for DAL
Mar 11, 2005 (streetinsider.com via COMTEX) --Delta Air Lines (NYSE: DAL) may still file for bankruptcy protection after the company warned it will post another substantial loss. This comes after a recent round of pay cuts and other cost reductions.
03/11/2005 08:00:26 AM
StreetInsider Alert for SIRF
Mar 11, 2005 (streetinsider.com via COMTEX) --Deutsche Bank upgrades SiRF Technology (Nasdaq: SIRF) from Hold to Buy on strong product demand outlook-Price target $14.
03/11/2005 08:00:25 AM
StreetInsider Alert for QCOM
Mar 11, 2005 (streetinsider.com via COMTEX) --UBS Securities upgrades QUALCOMM (Nasdaq: QCOM) from Neutral to Buy on positive growth outlook-Price target $50.
03/11/2005 08:00:25 AM
StreetInsider Alert for KMRT
Mar 11, 2005 (streetinsider.com via COMTEX) --UBS Securities upgrades Kmart (Nasdaq: KMRT) from Hold to Buy on positive merger outlook-Price target $160.
03/11/2005 08:00:23 AM
StreetInsider Alert for UDI
Mar 11, 2005 (streetinsider.com via COMTEX) --Friedman Billings downgrades United Defense Industries (NYSE: UDI) from Outperform to Market Perform after announcement of BAE Systems acquisition.
03/11/2005 08:00:23 AM
StreetInsider Alert for WFMI
Mar 11, 2005 (streetinsider.com via COMTEX) --Prudential Securities downgrades Whole Foods Market (Nasdaq: WFMI) from Overweight to Neutral on valuation.
03/11/2005 08:00:22 AM
StreetInsider Alert for LIN
Mar 11, 2005 (streetinsider.com via COMTEX) --CIBC World Markets downgrades Linens 'n Things (NYSE: LIN) from Outperformer to Sector Performer on lower earnings outlook.
03/11/2005 08:00:21 AM
StreetInsider Alert for CVC
Mar 11, 2005 (streetinsider.com via COMTEX) --The Wall Street Journal reports Cablevision Systems (NYSE: CVC) Chairman Charles Dolan has announced plans to fund operations for Voom use his own cash and stock in the company. It is reported that Dolan will use up to $10 million of his own money in cash and Cablevision stock.
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