LEXR DJ:INDU ( GM MBRX GBND FO ) AMLN EK VIA ALXN WWCA GEPT DHB MLHR HOTT (To Earlier Below)
03/16/2005 06:10:17 PM StreetInsider Alert for LEXR
Mar 16, 2005 (streetinsider.com via COMTEX) --UPDATE: Lexar (Nasdaq: LEXR) is 17% lower in after-hours action after the company said it will delay its 10-k, identified material weaknesses in its financial controls and said its expects to report total Q4 net revenues of between $185 million and $190 million (consensus is $256.7M) and FY05 revenue between $680 million and $685 million (consensus is $745.8M).
The company also said it expects its net loss for the fourth quarter of 2004 to be between $60 million and $65 million and its net loss for the year ended December 31, 2004 to be between $72 million and $77 million.
03/16/2005 05:05:15 PM StreetInsider Alert for DJ:INDU
Mar 16, 2005 (streetinsider.com via COMTEX) --The Dow finished 112 points lower to close at 10,633, the Nasdaq fell 19.23 points to close at 2,015, and the S&P 500 lost 9.68 points to close at 1,188.
The markets closed out the trading session in the red today as oil prices continued to rise, GM reduced its Q1 and FY05 outlook, and bond values increased.
Volume was modest with 1.65 billion shares trading on the NYSE and 1.97 billion on the Nasdaq. Decliners outpaced advancers today by a margin of 24:9 on the NYSE and by a margin of 20:11 on the Nasdaq.
In individual stories, Metabasis Therapeutics, Inc. (Nasdaq: MBRX) closed 43.48% lower after two serious adverse events occurred in an interaction study with the diabetes drug metformin, resulting in the halting of the study. On the upside, General Binding (Nasdaq: GBND) closed 39.22% higher as a result of its announced merger with Fortune Brands (NYSE: FO).
Tomorrow traders will be watching for data on Initial Claims, Leading Indicators, and from the Philedelphia Fed. Initial Claims is due to hit the wires at 8:30 A.M, Leading indicators is expected at 10:00 A.M., and the Philedelphia Fed is planned to come out at 12:00 P.M.
03/16/2005 05:05:14 PM StreetInsider Alert for AMLN
Mar 16, 2005 (streetinsider.com via COMTEX) --Amylin Pharmaceuticals (Nasdaq: AMLN) said the FDA has approved SYMLIN injection to be used in conjunction with insulin to treat diabetes. SYMLIN is to be used at mealtime in patients with type 2 or type 1 diabetes who have failed to achieve desired glucose control despite optimal insulin therapy. SYMLIN will be commercially available in approximately 90 days.
03/16/2005 04:45:14 PM StreetInsider Alert for EK
Mar 16, 2005 (streetinsider.com via COMTEX) --Eastman Kodak Company (NYSE: EK) reported that the accounting review announced on January 26 is nearing completion. As a result, the company also announced that it will report revised results for the fourth quarter of 2004, and will restate results for the first three quarters of 2004 and the quarters and full year of 2003. To allow sufficient time for completion of the restatement, the company will request tomorrow an automatic extension for the filing of its 2004 Annual Report on Form 10-K, which it now intends to file by March 31.
03/16/2005 04:20:23 PM StreetInsider Alert for VIA
Mar 16, 2005 (streetinsider.com via COMTEX) --Sumner M. Redstone, Chairman and Chief Executive Officer of Viacom Inc., (NYSE: VIA) (NYSE: VIA.B) confirms that he has been exploring with the Company's Board of Directors the possible division of its businesses into separate publicly-traded companies
03/16/2005 04:15:19 PM StreetInsider Alert for ALXN
Mar 16, 2005 (streetinsider.com via COMTEX) --Alexion Pharmaceuticals, Inc. (Nasdaq: ALXN) announced the resignation of Carsten Boess, the Company's Chief Financial Officer. Mr. Boess is leaving to pursue other opportunities. David Keiser, President and Chief Operating Officer of Alexion, will temporarily resume his direct responsibility for functions managed by Mr. Boess while a search for a permanent replacement is conducted. Mr. Boess will remain with the Company until April 1.
03/16/2005 04:15:17 PM StreetInsider Alert for WWCA
Mar 16, 2005 (streetinsider.com via COMTEX) --Western Wireless Corp (Nasdaq: WWCA) reported Q4 EPS of $1.15, which includes a tax benefit and is not comparable to estimates. Revenues came in at $508 million versus the consensus of $499.47 million.
03/16/2005 04:10:14 PM StreetInsider Alert for GEPT
Mar 16, 2005 (streetinsider.com via COMTEX) --Global ePoint, Inc. (Nasdaq: GEPT) has announced new contracts totaling $5 million for advanced computer control technology for conventional x-ray security systems used in airports and other venues. The announcement was made by Global ePoint CEO Toresa Lou.
03/16/2005 04:10:13 PM StreetInsider Alert for DHB
Mar 16, 2005 (streetinsider.com via COMTEX) --DHB Industries Inc (NYSE: DHB) reported Q4 EPS of $0.18, 1 cent better than estimates. Revenues came in at $90.2 million versus the consensus of $92.83 million.
03/16/2005 04:05:24 PM StreetInsider Alert for MLHR
Mar 16, 2005 (streetinsider.com via COMTEX) --Herman Miller Inc (Nasdaq: MLHR) reported Q3 EPS of $0.24, 3 cents better than estimates. Revenues came in at $382.4 million versus the consensus of $368.24 million.
03/16/2005 04:05:23 PM StreetInsider Alert for HOTT
Mar 16, 2005 (streetinsider.com via COMTEX) --Hot Topic, Inc (Nasdaq: HOTT) reported Q4 EPS of $0.38, in-line with estimates. Revenues came in at $211.3 million versus the consensus of $211.75 million.
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NOVL SBGI NSYS (To Earlier Below)
03/16/2005 03:05:13 PM StreetInsider Alert for NOVL
Mar 16, 2005 (streetinsider.com via COMTEX) --Novell (Nasdaq: NOVL) and IBM (NYSE: IBM) announced an initiative to help ISVs accelerate the development and certification of new applications for Novell's SUSE LINUX on IBM eServer and middleware platforms. ISVs can now access the technical resources, hands-on tools and expertise available at nine IBM Innovation Centers in North America, Europe and Asia to certify their applications for SUSE LINUX on IBM hardware and software. As a result, ISVs can port new applications to SUSE LINUX more quickly and cost effectively, creating new technology infrastructure choices for customers running Linux-based applications.
03/16/2005 01:50:15 PM StreetInsider Alert for SBGI
Mar 16, 2005 (streetinsider.com via COMTEX) --Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) is pleased to announce that it has reached a binding retransmission consent agreement providing for the cable carriage by Comcast cable systems (Nasdaq: CMCSA) of all Sinclair stations located in markets served by Comcast. The multi-year agreement relates to the analog and digital signals of the Sinclair stations.
03/16/2005 01:45:15 PM StreetInsider Alert for NSYS
Mar 16, 2005 (streetinsider.com via COMTEX) --Nortech Systems, Inc. (NASDAQ: NSYS) is 21% higher in afternoon action after the company said Q4 net sales rose 30% to $20.4 million and said earnings came in at $0.08 per diluted share, compared with a net loss of $0.06 per share a year ago.
For 2005, Nortech Systems expects revenues to increase approximately by 8 to 10 percent, in the range of $78.0 million to $80.0 million. Earnings per diluted share for 2005 are expected to be in the range of 30 to 35 cents.
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03/16/2005 01:30:20 PM StreetInsider Alert for DJ:INDU
Mar 16, 2005 (streetinsider.com via COMTEX) --03/16: Streetinsider.com's Unusual 11 Afternoon Movers:
General Binding (Nasdaq: GBND) 39.29% HIGHER; Fortune Brands' (NYSE: FO) ACCO World Corporation office products unit will merge with the Company.
Metabasis Therapeutics, Inc. (Nasdaq: MBRX) 42.03% LOWER; diabetes drug metformi study has been stopped because of serious adverse results.
Opnet Technologies (Nasdaq: OPNT) 25.00% HIGHER; announced a multi-year worldwide distribution agreement with Cisco Systems (Nasdaq: CSCO). In addtion, Friedman Billings upgraded the stock.
Sonic Solutions (Nasdaq: SNIC) 19.64% HIGHER; JMP Securities upgraded the stock.
Research In Motion (Nasdaq: RIMM) 18.04% HIGHER; resolved all current litigation with NTP, Inc. In addition, RBC Capital upgraded the stock.
Sigma Designs Inc (Nasdaq: SIGM) 17.22% HIGHER; reported Q4 revenues above the consensus. In addition, Needham upgraded the stock.
Wave Systems Corp. (NASDAQ: WAVX) 14.81% LOWER; will issue approximately $4.1 million of Class A common stock.
BanColombia SA (NYSE: CIB) 14.12% HIGHER; UBS Securities upgraded the stock.
General Motors Corp (NYSE: GM) 13.55% LOWER; guided lower for Q1 and FY05.
TiVo Inc. (Nasdaq: TIVO) 11.94% LOWER; profit taking after the Comcast (Nasdaq: CMCSA) agreement.
MicroStrategy Incorporated (Nasdaq: MSTR) 11.10% LOWER; PricewaterhouseCoopers LLP declined reelection as the Company's independent registered public accountant.
03/16/2005 12:40:14 PM StreetInsider Alert for XMSR
Mar 16, 2005 (streetinsider.com via COMTEX) --The PGA TOUR and XM Satellite Radio (Nasdaq: XMSR) announced a long-term broadcasting and marketing agreement, which includes exclusive XM broadcasts of PGA TOUR events, as well as sales and rentals of portable XM2go radios at PGA TOUR tournament courses.
03/16/2005 11:25:13 AM StreetInsider Alert for NVD
Mar 16, 2005 (streetinsider.com via COMTEX) --NovaDel Pharma Inc. (AMEX: NVD) announced positive results from a pilot pharmacokinetic trial in healthy human subjects that was conducted using it's proprietary lingual spray technology to deliver ondansetron hydrochloride --- the active ingredient marketed under the brand name Zofran by GlaxoSmithKline for the treatment of chemotherapy-induced nausea and vomiting.
03/16/2005 11:20:14 AM StreetInsider Alert for GLBC
Mar 16, 2005 (streetinsider.com via COMTEX) --Global Crossing (Nasdaq: GLBC) announced a $100 million contract to provide global network connectivity for the British Council. Under the seven-year contract, Global Crossing will provide a fully managed, terrestrial and satellite IP-based network connecting more than 7,000 users at 260 offices in 110 countries.
03/16/2005 11:10:19 AM StreetInsider Alert for NYMX
Mar 16, 2005 (streetinsider.com via COMTEX) --Nymox Pharmaceutical Corporation's (NASDAQ: NYMX) NicAlert has been shown to increase nicotine replacement therapy success according to a team of Swiss researchers led by Dr. Karl Klingler of the Hirslanden Lung Center, Zurich, Switzerland. The researchers have found that the success rate was significantly improved when NicAlert was used in conjunction with NRT to measure nicotine consumption.
03/16/2005 11:05:11 AM StreetInsider Alert for MCZ
Mar 16, 2005 (streetinsider.com via COMTEX) --Mad Catz Interactive, Inc. (AMEX: MCZ) announced that it has signed a license agreement with Major League Baseball Properties to produce customized MLB team controllers for the PlayStation®2 and the Xbox gaming systems. The Company recently announced similar licensing agreements with the National Football League and the National Basketball Association. Mad Catz' MLB controllers are expected to be available this summer at a suggested retail price of $29.99.
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03/16/2005 10:45:10 AM StreetInsider Alert for DJ:INDU
Mar 16, 2005 (streetinsider.com via COMTEX) --03/16: Streetinsider.com's Unusual 8 Morning Movers:
General Binding (Nasdaq: GBND) 38.69% HIGHER; Fortune Brands' (NYSE: FO) ACCO World Corporation office products unit will merge with the Company.
Metabasis Therapeutics, Inc. (Nasdaq: MBRX) 31.88% LOWER; two serious adverse events occurred in an interaction study with the diabetes drug metformin, and the study has been stopped.
Research In Motion (Nasdaq: RIMM) 16.50% HIGHER; signed a binding term sheet with NTP, Inc. that resolves all current litigation between them. In addition, RBC Capital upgraded the stock.
Wave Systems Corp. (NASDAQ: WAVX) 14.81% LOWER; will issue approximately $4.1 million of Class A common stock under a $25 million shelf registration statement.
MicroStrategy Incorporated (Nasdaq: MSTR) 12.25% LOWER; PricewaterhouseCoopers LLP declined to stand for reelection as the Company's independent registered public accountant. In addition, First Albany Corp downgraded the stock.
General Motors Corp (NYSE: GM) 12.01% LOWER; guided lower for Q1 and FY05.
BanColombia SA (NYSE: CIB) 9.77% HIGHER; UBS Securities upgraded the stock and increased the target price. The firm feels the stock is in attractive valuation territory and the merger valuation terms with Conavi and Corfinsura are fair.
TiVo Inc. (Nasdaq: TIVO) 8.36% LOWER; profit taking after the spike seen yesterday from the Comcast (Nasdaq: CMCSA) agreement.
03/16/2005 10:05:08 AM StreetInsider Alert for ACAS
Mar 16, 2005 (streetinsider.com via COMTEX) --American Capital Strategies Ltd. (Nasdaq: ACAS) announced it plans to make a public offering of 7,000,000 shares of its common stock, 4,000,000 shares of which are being offered by the Counter-Parties (as defined below) in connection with agreements to purchase common stock from American Capital at a future date as discussed below and 3,000,000 shares are being offered directly by American Capital. The Company has granted the underwriters an option to purchase up to an additional 1,050,000 shares to cover over-allotments.
03/16/2005 10:00:21 AM StreetInsider Alert for GLGS
Mar 16, 2005 (streetinsider.com via COMTEX) --GlycoGenesys, Inc. (Nasdaq: GLGS) is 13% higher in early action after the company closed the first tranche of its previously announced $6.5 million private placement. This first closing resulted in gross proceeds of $2,000,000 from institutional and accredited investors.
03/16/2005 09:35:17 AM StreetInsider Alert for CAND
Mar 16, 2005 (streetinsider.com via COMTEX) --Badgley Mischka, a division of Candie's, Inc. (NASDAQ: CAND) announced a license agreement with Groupe JS International for couture apparel under the Badgley Mischka label. Groupe JS will begin to ship product for Fall 2005 deliveries.
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03/16/2005 09:20:15 AM StreetInsider Alert for BUCA
Mar 16, 2005 (streetinsider.com via COMTEX) --BUCA, Inc. (Nasdaq: BUCA) announced Kaye R. O'Leary has been named Chief Financial Officer effective March 15, 2005. She had been scheduled to assume that role on April 1, 2005. The Company also announced that it has terminated the employment of its Vice President, Controller, and Interim Chief Financial Officer, Dan Skrypek, and its Senior Vice President and Chief Information Officer, John Motschenbacher. Acting through its Audit Committee with the assistance of separate counsel, the Company has commenced an internal investigation of matters relating to the termination of these two executive officers.
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03/16/2005 09:15:23 AM StreetInsider Alert for ARTC
Mar 16, 2005 (streetinsider.com via COMTEX) --First Albany upgrades ArthroCare (Nasdaq: ARTC) from 'neutral' to 'buy'; says guidance is conservative and revenues should outperform.
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03/16/2005 09:10:19 AM StreetInsider Alert for SMMU
Mar 16, 2005 (streetinsider.com via COMTEX) --Summus, Inc. (OTCBB: SMMU) said it has partnered with the world's leading family products company, Mattel, Inc. (NYSE: MAT), to develop and distribute card game UNO, and other classic games; Ker Plunk!, Rock 'Em Sock 'Em Robots and Toss Across for the mobile phone.
03/16/2005 09:10:18 AM StreetInsider Alert for CKN
Mar 16, 2005 (streetinsider.com via COMTEX) --Cash Systems, Inc. (Amex: CKN) announced a new contract to provide check cashing, ATM, and credit and debit card cash advance services to Grand Traverse Resort and Casino.
03/16/2005 09:10:18 AM StreetInsider Alert for NVAX
Mar 16, 2005 (streetinsider.com via COMTEX) --Novavax, Inc. (Nasdaq: NVAX) and Ranbaxy Laboratories, Inc., have entered into an agreement to evaluate a new transdermal product (this is a new product and is not related to ESTRASORB®). This product has been formulated using Novavax's proprietary micellar nanoparticle (MNP) technology.
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03/16/2005 09:05:26 AM StreetInsider Alert for SALM
Mar 16, 2005 (streetinsider.com via COMTEX) --Salem Communications Corporation (Nasdaq: SALM) has announced the appointment of Joe D. Davis to executive vice president and chief operating officer of the company, effective immediately. Davis has been executive vice president of radio for the company since 2003. Davis' new duties will include day-to-day operational oversight of all of Salem Communication's lines of business including radio broadcasting, news, music and talk programming, network syndication, and non-broadcast activities that include Salem Publishing and Salem Web Network. Davis will continue to report directly to Edward G. Atsinger III, president and chief executive officer.
03/16/2005 09:05:24 AM StreetInsider Alert for LLL
Mar 16, 2005 (streetinsider.com via COMTEX) --L-3 Communications (NYSE: LLL) announced that its Integrated Systems (L-3 IS) subsidiary has been awarded an indefinite delivery/indefinite quantity (ID/IQ) contract with a basic funding ceiling of $411 million to provide the U.S. Missile Defense Agency (MDA) with airborne mission support for ballistic missile defense system (BMDS) test requirements, over a five year period of performance. The value of the initial delivery order is approximately $16 million
03/16/2005 09:05:15 AM StreetInsider Alert for VLO
Mar 16, 2005 (streetinsider.com via COMTEX) --IRG Research initiated coverage on Valero Energy Corporation (NYSE: VLO) with a 'buy' rating; $81.00 price target. The firm believes that with a dynamic mgmt team and superior balance sheet, Valero will continue to grow via internal projects and acquisitions. In addition, they think catalysts include seasonal expansion in refining margins and potential refinery acquisitions.
03/16/2005 09:00:35 AM StreetInsider Alert for LCRD
Mar 16, 2005 (streetinsider.com via COMTEX) --IRG Research downgraded LaserCard Corporation (Nasdaq: LCRD) from 'buy' to 'neutral'. The firm thinks that although underlying business with the U.S. govt (Green Cards, Border Crossing Cards) and Canada (Maple Leaf Card) supports the viability of the technology, it does not support profit.They also see a lack of near-term catalysts before qtr-end.
03/16/2005 09:00:34 AM StreetInsider Alert for SIGM
Mar 16, 2005 (streetinsider.com via COMTEX) --Needham upgrades Sigma Designs (Nasdaq: SIGM) from 'buy' to 'strong buy' with a $14 price target. Cites recent weakness and positive quarterly call.
03/16/2005 09:00:33 AM StreetInsider Alert for FTI
Mar 16, 2005 (streetinsider.com via COMTEX) --FMC Technologies, Inc. (NYSE: FTI) announced that it has signed a contract with Anadarko Petroleum Corporation (NYSE: APC) to supply subsea production equipment for certain Anadarko wells in the eastern Gulf of Mexico that will be connected to the Independence Hub. The contract for this project includes 10 subsea trees and associated equipment. The initial value of this contract to FMC Technologies is approximately $25 million in revenue.
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03/16/2005 08:50:15 AM StreetInsider Alert for MTSN
Mar 16, 2005 (streetinsider.com via COMTEX) --Mattson Technology, Inc. (Nasdaq: MTSN) announced that a leading China foundry has selected Mattson's advanced strip systems for its new state-of-the art 300 millimeter (mm) fabs. The initial toolset shipped included the Aspen III ICPHT system, which will be used in the chipmaker's newest 300 mm copper fab for back-end-of-line (BEOL) strip applications. Also shipped to the new copper fab was an enhanced version of the Aspen III Highlands, which will be used in the foundry's new metal interconnect process line to produce copper/low-k logic devices. Another Aspen III ICPHT strip system is scheduled to ship at the end of this month to the chipmaker's front-end-of-line (FEOL) 300 mm fab, where Mattson's Aspen III Strip system is already installed and in production.
03/16/2005 08:50:14 AM StreetInsider Alert for WAVX
Mar 16, 2005 (streetinsider.com via COMTEX) --Wave Systems Corp. (NASDAQ: WAVX) announced that it has agreed upon an issuance of approximately $4.1 million of Class A common stock with accredited investors. The transaction is being done under Wave Systems' $25 million shelf registration statement which was declared effective by the Securities and Exchange Commission on May 10, 2004. Pursuant to the financing, Wave Systems agreed to sell 4,659,090 shares of Class A common stock at a price of $0.88 per share. The transaction is anticipated to close today and is intended to fund Wave Systems' ongoing operations and general corporate overhead.
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03/16/2005 08:45:12 AM StreetInsider Alert for RIMM
Mar 16, 2005 (streetinsider.com via COMTEX) --RBC Capital upgrades Research In Motion Ltd (Nasdaq: RIMM) from 'sector perform' to 'outperform' following NTP settlement.
03/16/2005 08:45:12 AM StreetInsider Alert for AIRN
Mar 16, 2005 (streetinsider.com via COMTEX) --Airspan Networks, Inc. (Nasdaq: AIRN) announced that its WipLL 700MHz broadband wireless access system has been accepted by the Rural Utility Service (RUS) for purchases under the RUS Broadband Loan Program.
03/16/2005 08:45:11 AM StreetInsider Alert for ROST
Mar 16, 2005 (streetinsider.com via COMTEX) --Ross Stores Inc (Nasdaq: ROST) reported Q4 EPS of $0.35, 1 cent better than estimates. Revenues came in at $1.21 billion versus the consensus of $1.19 billion.
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03/16/2005 08:40:15 AM StreetInsider Alert for HRAY
Mar 16, 2005 (streetinsider.com via COMTEX) --Hurray! Holding Co., Ltd. (Nasdaq: HRAY) announced on March 15 the signing of agreements with three record companies: Warner Music, EMI and Ocean Butterflies Music. Under these agreements, Hurray! will be able to offer music from the libraries of all three companies in its Color Ring Back Tone (CRBT) services and to offer the music from Warner Music and Ocean Butterflies Music in its Interactive Voice Response (IVR) services.
03/16/2005 08:40:14 AM StreetInsider Alert for GILD
Mar 16, 2005 (streetinsider.com via COMTEX) --Gilead Sciences, Inc. (Nasdaq: GILD) announced that the company's global Access Program for HIV medicines is being expanded to include additional countries in the Caribbean and Latin America.
03/16/2005 08:40:13 AM StreetInsider Alert for WOR
Mar 16, 2005 (streetinsider.com via COMTEX) --Worthington (NYSE: WOR) reports Q3 earnings of $0.42 per share, 6 cents better than estimates. Revenues came in at $747.4 million versus the consensus of $737 million.
03/16/2005 08:40:13 AM StreetInsider Alert for KERX
Mar 16, 2005 (streetinsider.com via COMTEX) --Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) announced that it has finalized a Special Protocol Assessment (SPA) agreement with the FDA for the Phase 3 and Phase 4 clinical trials of KRX-101 (sulodexide gelcaps), the Company's drug candidate for the treatment of diabetic nephropathy.
03/16/2005 08:40:12 AM StreetInsider Alert for PLUS
Mar 16, 2005 (streetinsider.com via COMTEX) --ePlus inc. (Nasdaq: PLUS) announced that a subsidiary, ePlus Systems, Inc., has entered into an alliance agreement with Hitachi Consulting Corporation, Hitachi, Ltd.'s (NYSE: HIT) to provide eProcurement, content management, and supplier portal solutions. Together, the consulting and outsourcing services from Hitachi Consulting, matched with the Procure+ and Content+ software solutions from ePlus, will help customers maximize the success of their online eProcurement systems.
03/16/2005 08:35:17 AM StreetInsider Alert for SNIC
Mar 16, 2005 (streetinsider.com via COMTEX) --JMP Securities upgraded Sonic Solutions (Nasdaq: SNIC) from 'market outperform' to 'strong buy'; $24.00 price target. The firm raised their outlook on the stock due to valuation.
03/16/2005 08:35:07 AM StreetInsider Alert for TWAV
Mar 16, 2005 (streetinsider.com via COMTEX) --Therma-Wave, Inc. (Nasdaq: TWAV) announced that a leading Taiwanese DRAM (Dynamic RAM) semiconductor manufacturer has selected multiple Therma-Wave metrology solutions for use in its 300-mm factory.
03/16/2005 08:35:07 AM StreetInsider Alert for PHLY
Mar 16, 2005 (streetinsider.com via COMTEX) --Banc of America downgraded Philadelphia Consolidated Holding Corp. (Nasdaq: PHLY) from 'buy' to 'neutral'; $77.00 price target. The firm cited valuation as cause for their downgrade.
03/16/2005 08:35:06 AM StreetInsider Alert for MSTR
Mar 16, 2005 (streetinsider.com via COMTEX) --First Albany Corp downgraded MicroStrategy Inc CL A (Nasdaq: MSTR) from 'strong buy' to 'buy'; target price decreased from $99.00 to $84.00. The firm lowered their rating due to an announcement of a change in auditors. They noted that the filing disclosed that PricewaterhouseCoopers has no material disagreement with the company's filings from 2002 through March 9, 2005.
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03/16/2005 08:30:19 AM StreetInsider Alert for DRL
Mar 16, 2005 (streetinsider.com via COMTEX) --Wachovia Securities downgraded Doral Financial Corporation (NYSE: DRL) from 'market perform' to 'underperform'. According to the firm, on March 15, DRL filed Form 10-K with the SEC. After reviewing certain disclosures within that document, they feel DRL's earnings quality has significantly weakened in recent quarters.
03/16/2005 08:30:19 AM StreetInsider Alert for CIB
Mar 16, 2005 (streetinsider.com via COMTEX) --UBS Securities upgraded BanColombia SA (NYSE: CIB) from 'neutral' to 'buy'; target price increased from $16.38 to $16.80. The firm feels that following the 23% correction in the last 6 sessions, the stock is back into attractive valuation territory. In addition, they believe the merger valuation terms (with Conavi and Corfinsura) are fair, and that the logic of the merger is positive.
03/16/2005 08:30:18 AM StreetInsider Alert for CRM
Mar 16, 2005 (streetinsider.com via COMTEX) --Robert W. Baird initiated coverage on Salesforce.com Inc (NYSE: CRM) with a 'neutral' rating; $18.00 price target. The firm thinks CRM can remain at the forefront of the rapidly emerging On-Demand applications market.
03/16/2005 08:25:22 AM StreetInsider Alert for MICU
Mar 16, 2005 (streetinsider.com via COMTEX) --Stanford Group initiates coverage on Vicuron Pharmaceuticals (Nasdaq: MICU) with a 'buy' rating and $22 price target.
03/16/2005 08:25:21 AM StreetInsider Alert for ARP
Mar 16, 2005 (streetinsider.com via COMTEX) --Robert W. Baird initiated coverage on American Reprographics Company (NYSE: ARP) with an 'outperform' rating; $17.00 price target. The firm thinks that ARP is a quality and timely means to leverage the U.S. commercial construction recovery. Goldman Sachs started the stock out 'in-line'. CIBC World Markets started the stock at 'sector perform'.
03/16/2005 08:25:20 AM StreetInsider Alert for DRI
Mar 16, 2005 (streetinsider.com via COMTEX) --Morgan Stanley initiated coverage on Darden Restaurants Inc (NYSE: DRI) with an 'underweight' rating; $25.00 price target.
03/16/2005 08:20:19 AM StreetInsider Alert for EAT
Mar 16, 2005 (streetinsider.com via COMTEX) --Morgan Stanley initiated coverage on Brinker International Inc (NYSE: EAT) with an 'equal weight' rating.
03/16/2005 08:20:19 AM StreetInsider Alert for TXCC
Mar 16, 2005 (streetinsider.com via COMTEX) --Stanford Group initiates coverage on TranSwitch (Nasdaq: TXCC) with a 'buy' rating and $2 price target.
03/16/2005 08:20:18 AM StreetInsider Alert for OSI
Mar 16, 2005 (streetinsider.com via COMTEX) --Morgan Stanley initiated coverage on Outback Steakhouse, Inc. (NYSE: OSI) with an 'overweight' rating.
03/16/2005 08:20:06 AM StreetInsider Alert for DKS
Mar 16, 2005 (streetinsider.com via COMTEX) --Wachovia upgrades Dick's Sporting Goods (NYSE: DKS) from 'underperform' to 'outperform' with a $38-$42 valuation range; says risk/reward outlook has improved.
03/16/2005 08:20:05 AM StreetInsider Alert for CE
Mar 16, 2005 (streetinsider.com via COMTEX) --Deutsche Bank initiated coverage on Celanese Corporation Series A (NYSE: CE) with a 'buy' rating; $21.00 price target.
03/16/2005 08:15:12 AM StreetInsider Alert for AVO
Mar 16, 2005 (streetinsider.com via COMTEX) --Advanced Medical Optics, Inc. (NYSE: AVO) announced that it has implemented a stock trading program in accordance with Rule 10b5-1 of the Securities and Exchange Act of 1934. The program permits participating company executives and board members to adopt pre-arranged plans to buy or sell pre-determined amounts of AMO stock over time in compliance with AMO's insider trading policies and stock ownership guidelines.
03/16/2005 08:15:11 AM StreetInsider Alert for IMH
Mar 16, 2005 (streetinsider.com via COMTEX) --Bear Stearns initiated coverage on Impac Mortgage Holdings, Inc. (NYSE: IMH) with a 'peer perform' rating. The firm believes the company's earnings and divident will decline this year due to a deteriorating operating environment as well as co-specific issues.
03/16/2005 08:15:11 AM StreetInsider Alert for EPMN
Mar 16, 2005 (streetinsider.com via COMTEX) --Epimmune Inc. (Nasdaq: EPMN) and IDM S.A. (Immuno-Designed Molecules), a biopharmaceutical company specializing in immunotherapy for the treatment of cancer, announced the signing of a definitive agreement under which Epimmune will combine with privately-held IDM in an all-stock transaction.
Under the terms of the agreement, the shareholders of IDM will receive approximately 3.77 shares of Epimmune common stock in exchange for each share of IDM they hold. In connection with the closing, the holders of Epimmune's Series S and S-1 preferred stock have also agreed to exchange those shares into Epimmune common stock. Following the closing of the transaction, the Company will have approximately 102 million shares outstanding, on a fully diluted basis, with Epimmune's current shareholders owning approximately 22% of the Company and IDM's current shareholders owning approximately 78%, on a fully diluted basis.
03/16/2005 08:15:10 AM StreetInsider Alert for HRAY
Mar 16, 2005 (streetinsider.com via COMTEX) --U.S. Bancorp Piper Jaffray initiated coverage on Hurray Holding Company, Limited (Nasdaq: HRAY) with an 'outperform' rating; $14.00 price target. The firm is resuming coverage on the stock. They noted that Hurray is a leading WAP and 2.5G wireless service provider with a very strong technology platform, as it is also the provider of key WAP provisioning software to China Unicom.
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03/16/2005 08:00:51 AM StreetInsider Alert for TELK
Mar 16, 2005 (streetinsider.com via COMTEX) --Lehman Bros. downgrades Telik (Nasdaq: TELK) from Overweight to Equalweight and drops price target to $20.
03/16/2005 08:00:51 AM StreetInsider Alert for BAMM
Mar 16, 2005 (streetinsider.com via COMTEX) --Books-A-Million, Inc. (NASDAQ: BAMM) said its Board of Directors has approved a $0.02 increase in its quarterly dividend to $0.05 per share from the previous rate of $0.03 per share. The new quarterly dividend of $0.05 per share will be paid on April 12, 2005, to stockholders of record at the close of business on March 29, 2005. The Company will pay quarterly cash dividends in the future subject to Board approval.
03/16/2005 08:00:50 AM StreetInsider Alert for IVX
Mar 16, 2005 (streetinsider.com via COMTEX) --Friedman Billings upgrades Ivax Corp (NYSE: IVX) from Market Perform to Outperform after earnings report and strong guidance.
03/16/2005 08:00:49 AM StreetInsider Alert for NMGA
Mar 16, 2005 (streetinsider.com via COMTEX) --The New York Post reported that Neiman Marcus Group (NYSE: NMGa) has been in discussions with rivals and investors on buying the upmarket retailer for as much as $5 billion.
03/16/2005 08:00:48 AM StreetInsider Alert for FO
Mar 16, 2005 (streetinsider.com via COMTEX) --Fortune Brands (NYSE: FO) and General Binding (Nasdaq: GBND) announced that Fortune Brands will spin off to shareholders its ACCO World Corporation office products unit, and that ACCO will merge with General Binding Corporation (GBC) to create the world's largest supplier of branded office products with combined revenues of nearly $2 billion.
03/16/2005 08:00:48 AM StreetInsider Alert for AIR
Mar 16, 2005 (streetinsider.com via COMTEX) --AAR Corporation (NYSE: AIR) reports Q3 earnings of $0.15 per share, 3 cents better than estimates. Q3 revenues were $197.7 million, higher than analysts estimates of $182 million.
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03/16/2005 08:00:47 AM StreetInsider Alert for VECO
Mar 16, 2005 (streetinsider.com via COMTEX) --Veeco Instruments (Nasdaq: VECO) reports Q4 earnings of $0.03 per share, 3 cents worse than estimates. Q4 revenues were $103 million, higher than analysts estimates of $95.43 million.
03/16/2005 08:00:46 AM StreetInsider Alert for HYSL
Mar 16, 2005 (streetinsider.com via COMTEX) --ThinkEquity downgrades Hyperion Solutions (Nasdaq: HYSL) from Buy to Accumulate, telling clients stock is less compelling at these levels.
03/16/2005 08:00:46 AM StreetInsider Alert for KO
Mar 16, 2005 (streetinsider.com via COMTEX) --UBS Securities upgrades Coca-Cola (NYSE: KO) from Reduce to Neutral on valuation.
03/16/2005 08:00:45 AM StreetInsider Alert for GDYS
Mar 16, 2005 (streetinsider.com via COMTEX) --Goody's Family Clothing (Nasdaq: GDYS) repors Q4 earnings of $0.21 per share, 5 cents better than estimates. Q4 revenues were $384.7 million, lower than analysts estimates of $394.05 million.
03/16/2005 08:00:44 AM StreetInsider Alert for ELX
Mar 16, 2005 (streetinsider.com via COMTEX) --J.P. Morgan upgrades Emulex (NYSE: ELX) from Neutral to Overweight on positive outlook.
03/16/2005 08:00:44 AM StreetInsider Alert for SHOP
Mar 16, 2005 (streetinsider.com via COMTEX) --Piper Jaffray upgrades Shopping.com Ltd (Nasdaq: SHOP) from Market Perform to Outperform after recent dip in stock price.
03/16/2005 08:00:42 AM StreetInsider Alert for LSBC
Mar 16, 2005 (streetinsider.com via COMTEX) --Predictive Diagnostics, Inc., a wholly owned subsidiary of Large Scale Biology Corporation (Nasdaq: LSBC) said the the current issue of the Journal of Molecular Neuroscience has published the results of Predictive's collaborative research to diagnose multiple sclerosis using a simple blood test. The study, done in conjunction with Jagannadha Avasarala, M.D., Ph.D., while at Wake Forest University Baptist Medical Center, is the first published research of its kind to describe a potential diagnostic blood test for multiple sclerosis. This diagnostic analysis was made possible by using Predictive's proprietary BAMF technology in identifying patterns of proteins and peptides that distinguish multiple sclerosis patients from those without MS.
03/16/2005 08:00:34 AM StreetInsider Alert for THOR
Mar 16, 2005 (streetinsider.com via COMTEX) --RBC Capital Markets upgrades Thoratec Labs (Nasdaq: THOR) from Sector Perform to Outperform on positive outlook-Price target $14.
03/16/2005 08:00:34 AM StreetInsider Alert for NVAX
Mar 16, 2005 (streetinsider.com via COMTEX) --RBC Capital Markets downgrades Novavax (Nasdaq: NVAX) from Outperform to Underperform after poor earnings results-Price target $1.50.
03/16/2005 08:00:33 AM StreetInsider Alert for MBRX
Mar 16, 2005 (streetinsider.com via COMTEX) --Metabasis Therapeutics, Inc. (Nasdaq: MBRX) has been notified by Sankyo Company, Ltd., its partner on the development of Metabasis' product candidate CS-917, that two serious adverse events that involved apparent lactic acidosis occurred in an interaction study with the marketed diabetes drug metformin. The serious adverse events were resolved after medical intervention. The two patients were administered CS-917 in combination with metformin. Metformin has also been associated with lactic acidosis. The interaction study has been stopped. Also, a second study that involved administration of a relatively high dose of CS-917 to evaluate timing of dose administration is being stopped. Metabasis is not aware of any serious adverse events in this study. A third study evaluating various doses of CS-917 administered as a single agent over three months is under review. No patients are currently receiving CS-917. Metabasis will work with Sankyo, investigators and other experts to evaluate clinical data in an effort to fully understand the implications of these findings for the development of CS-917.
03/16/2005 08:00:32 AM StreetInsider Alert for POM
Mar 16, 2005 (streetinsider.com via COMTEX) --Pepco Holdings (NYSE: POM) reports Q4 earnings of $0.16 per share, excluding special items, 6 cents better than estimates.
03/16/2005 08:00:31 AM StreetInsider Alert for CYPB
Mar 16, 2005 (streetinsider.com via COMTEX) --Cypress Bioscience (Nasdaq: CYPB) reports a Q4 loss of $0.08 per share, 2 cents better than estimates. Q4 revenues were $3.3 million, lower than analysts estimates of $3.74 million.
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03/16/2005 08:00:23 AM StreetInsider Alert for CPB
Mar 16, 2005 (streetinsider.com via COMTEX) --Credit Suisse FB upgrades Campbell Soup (NYSE: CPB) from Neutral to Outperform and raises price target to $35.
03/16/2005 08:00:22 AM StreetInsider Alert for RIMM
Mar 16, 2005 (streetinsider.com via COMTEX) --Research In Motion (Nasdaq: RIMM) and NTP, Inc. announced that they have signed a binding term sheet that resolves all current litigation between them. As part of the resolution, NTP will grant RIM and its customers an unfettered right to continue its BlackBerry-related wireless business without further interference from NTP or its patents. RIM will pay to NTP US$450 million in final and full settlement of all claims to date against RIM, as well as for a perpetual, fully-paid up license going forward.
03/16/2005 08:00:21 AM StreetInsider Alert for CDN
Mar 16, 2005 (streetinsider.com via COMTEX) --Cadence Design Systems (NYSE: CDN) announced that Wipro Technologies has renewed an agreement under which Cadence will provide Wipro access to Cadence's electronic design automation (EDA) technologies.
03/16/2005 08:00:21 AM StreetInsider Alert for TOY
Mar 16, 2005 (streetinsider.com via COMTEX) --The Wall Street Journal reports Kohlberg. Kravis. Roberts & Co. and an investment group led by Cerberus Capital Management LP have each offered more than $5.5 billion for Toys "R" Us (NYSE: TOY).
03/16/2005 08:00:13 AM StreetInsider Alert for CHRS
Mar 16, 2005 (streetinsider.com via COMTEX) --Charming Shoppes (Nasdaq: CHRS) reports Q4 earnings of $0.05 per share, 1 cent worse than estimates. Q4 revenues were $586.1 million, lower than analysts estimates of $586.53 million. CHRS reaffirms Q1 earnings outlook.
03/16/2005 08:00:10 AM StreetInsider Alert for MIK
Mar 16, 2005 (streetinsider.com via COMTEX) --Michaels Stores (NYSE: MIK) sees full-year earnings between $1.74-1.81, excluding items, in-line with analysts estimates of $1.78.
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