04/04/2005 05:45:12 PM StreetInsider Alert for FLS
Apr 4, 2005 (streetinsider.com via COMTEX) --Flowserve Corp. (NYSE: FLS) said its board of directors and C. Scott Greer have jointly agreed to accelerate the company's previously announced CEO transition. Greer resigned as chairman, president, CEO and director of Flowserve, effective immediately, but will remain employed with the company in a consulting role through June 30, 2005, to help insure a smooth transition.
Kevin E. Sheehan, a director and most recently chairman of the board's Corporate Governance and Nominating Committee, was named interim chairman, president and CEO.
04/04/2005 05:40:10 PM StreetInsider Alert for MWD
Apr 4, 2005 (streetinsider.com via COMTEX) --MORGAN STANLEY (NYSE: MWD) confirms that it will pursue the sale of its Discover Card unit. Also says it will boost Coleman litigation reserve by $100M, Q1 EPS will be cut by $0.06 per share on charge.
04/04/2005 05:10:20 PM StreetInsider Alert for SGR
Apr 4, 2005 (streetinsider.com via COMTEX) --Shaw Group (NYSE: SGR) reports Q2 earnings of $0.15 per share, 2 cents better than estimates. Revenues came in at $763.5 million versus the consensus of $780.5 million.
The company also plans to sell up to 12.5 million shares of its common stock for expected estimated net proceeds of up to $262.5 million.
04/04/2005 05:10:19 PM StreetInsider Alert for DJ:INDU
Apr 4, 2005 (streetinsider.com via COMTEX) --The Dow finished 16.84 points higher to close at 10,421, the Nasdaq rose 6.26 points to close at 1,991, and the S&P 500 gained 3.20 points to close at 1,176.
The markets closed out the trading session in the green today as an absence of earnings and economic data left the decline in oil prices as the market's main catalyst. The market also got a boost after Dow stock AIG (NYSE: AIG) found a bid after New York's AG, Eliot Spitzer, said a "civil resolution" with the company is achievable.
Volume was moderate with 2.07 billion shares trading on the NYSE and 1.6 billion on the Nasdaq. Advancers outpaced decliners today by a margin of 17:16 on the NYSE and trailed them by a margin of 17:14 on the Nasdaq.
In individual stories, Castelle (Nasdaq: CSTL) closed 23.71% higher after reporting impressive Q4 results. On the downside, The Immune Response Corporation (Nasdaq: IMNR) closed 30.49% lower after auditor Levitz, Zacks & Ciceric declared the Company's 2004 financial statements, which were included in its Form 10-K that was filed last week, contained a going-concern qualification. There is no major economic data due to hit the wires tomorrow.
04/04/2005 04:50:16 PM StreetInsider Alert for NMSS
Apr 4, 2005 (streetinsider.com via COMTEX) --NMS Communications (NASDAQ: NMSS) warns for Q1; sees revenues between $21.4 million and $22.4 million and a net loss of between ($0.02) per share and ($0.04) per share, versus the consensus of $27.08M and a $0.02 profit.
04/04/2005 04:50:15 PM StreetInsider Alert for PSTI
Apr 4, 2005 (streetinsider.com via COMTEX) --Per-Se Technologies, Inc. (Nasdaq: PSTI) has been notified by the Securities and Exchange Commission of the issuance of an order of investigation, which the Company believes relates to allegations of wrongdoing made by a former employee in 2003. These allegations were the subject of a prior investigation by the Audit Committee of the Board of Directors and an outside accounting firm that resulted in the performance of extensive additional procedures, all of which are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2004. The Company intends to cooperate fully with the SEC.
04/04/2005 04:45:19 PM StreetInsider Alert for CTRA
Apr 4, 2005 (streetinsider.com via COMTEX) --Centra Software, Inc. (NASDAQ: CTRA) announced that Michelle M. Caggiano, Centra's former vice president of Finance, has been promoted to senior vice president and chief financial officer effective April 1, 2005. Ms. Caggiano, 43, now reports to Paul R. Gudonis, Centra's president and CEO.
04/04/2005 04:40:17 PM StreetInsider Alert for GILD
Apr 4, 2005 (streetinsider.com via COMTEX) --Gilead Sciences, Inc. (Nasdaq: GILD) announced that the company has received early termination by the United States Federal Trade Commission (the "FTC") of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the licensing agreement announced on March 22, 2005 granting Gilead exclusive rights to develop and commercialize Japan Tobacco Inc.'s novel HIV integrase inhibitor (JTK-303) in all countries of the world, excluding Japan. The JTK-303 license agreement, which was subject to clearance by the FTC, is now effective as a result of the FTC's early termination of the required waiting period without any request for additional information.
04/04/2005 04:31:17 PM StreetInsider Alert for MENT
Apr 4, 2005 (streetinsider.com via COMTEX) --Mentor Graphics Corporation (Nasdaq: MENT) warns for Q1; sees revenue of approximately $165 million and earnings per share before severance costs and amortization of intangibles to be approximately break-even, versus the consensus of $176.50M and $0.08.
04/04/2005 04:25:19 PM StreetInsider Alert for PLCM
Apr 4, 2005 (streetinsider.com via COMTEX) --Polycom, Inc. (NASDAQ: PLCM) warns for Q1; sees revenue of $135 million to $138 million and EPS of of $0.16 to $0.18 per diluted share, versus the consensus of $142.61M and $0.19.
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04/04/2005 04:20:18 PM StreetInsider Alert for FBN
Apr 4, 2005 (streetinsider.com via COMTEX) --Furniture Brands International, Inc. (NYSE: FBN) announced the appointment of Harvey Dondero as President and Chief Executive Officer of Broyhill Furniture Industries, Inc.
04/04/2005 04:20:17 PM StreetInsider Alert for ATRS
Apr 4, 2005 (streetinsider.com via COMTEX) --Altiris, Inc. (Nasdaq: ATRS) warns for Q1; sees revenue of $46 million and Pro forma earnings per share are expected to be in the range of $0.17-$0.18, versus the consensus of $46.35M and $0.21.
04/04/2005 04:15:20 PM StreetInsider Alert for RSAS
Apr 4, 2005 (streetinsider.com via COMTEX) --RSA Security Inc (Nasdaq: RSAS) warns for Q1; sees revenue of $74 million to $76 million versus the consensus of $82.78M and EPS of $0.08 to $0.10 versus the consensus of $0.14.
04/04/2005 04:15:19 PM StreetInsider Alert for VNWK
Apr 4, 2005 (streetinsider.com via COMTEX) --Visual Networks, Inc. (Nasdaq: VNWK) warns for Q1; anticipates Q1 revenue to be in the range of $9.3 million to $9.7 million with a per share loss of $0.07 to $0.09 cents, consensus is $14.57M and profit of $0.02 per share.
04/04/2005 04:15:18 PM StreetInsider Alert for TSRA
Apr 4, 2005 (streetinsider.com via COMTEX) --Tessera Technologies, Inc. (Nasdaq: TSRA) announced that it has signed a new technology licensing agreement with Hynix Semiconductor, Inc. (KSE:000660), one of the world's leading developers and manufacturers of DRAM devices. The new agreement replaces a prior licensing agreement, and covers Tessera's chip-scale and multi-chip technologies.
04/04/2005 04:10:15 PM StreetInsider Alert for MOBE
Apr 4, 2005 (streetinsider.com via COMTEX) --Mobility Electronics, Inc. (Nasdaq: MOBE) signed certain agreements to revise the structure of its strategic relationship with RadioShack Corporation (NYSE: RSH) and Motorola, Inc. (NYSE: MOT), which includes an aggregate equity investment from both companies of $10 million in Mobility Electronics common stock. RadioShack and Motorola each have made a $5 million equity investment in Mobility common stock at a purchase price of $7.25 per share.
04/04/2005 04:10:14 PM StreetInsider Alert for EXAC
Apr 4, 2005 (streetinsider.com via COMTEX) --Exactech, Inc. (Nasdaq: EXAC) said that earnings for the first quarter of 2005 will be below original estimates and likely will be in the range of $0.10 - $0.12 diluted earnings per share versus the consensus of $0.16. The company also said that revenue for the quarter, which ended March 31, 2005, will be near the low end of estimates the company provided previously. Exactech's first quarter earnings release has been scheduled for late afternoon on April 27 with a 10 a.m. EDT conference call on Thursday, April 28.
04/04/2005 04:10:14 PM StreetInsider Alert for IIVI
Apr 4, 2005 (streetinsider.com via COMTEX) --II-VI Incorporated (Nasdaq: IIVI) announced that it is partnering with SemiSouth Laboratories, Inc. and Mississippi State University for the establishment of a Silicon Carbide (SiC) semiconductor substrate manufacturing facility in Starkville, Mississippi. This effort will focus on II-VI's production capabilities in SiC substrates along with an advanced SiC epitaxial material growth technology at SemiSouth. During this process, strong technical and operational support will be provided from II-VI's New Jersey-based Wide Bandgap Materials Group Technical Center and Headquarters where II-VI will strengthen its research and worldwide marketing.
04/04/2005 04:05:18 PM StreetInsider Alert for INTU
Apr 4, 2005 (streetinsider.com via COMTEX) --Intuit Inc. (Nasdaq: INTU) announced that Mark Schar has been named senior vice president and chief marketing officer.
Schar will lead the company's efforts to acquire new customers and expand share of wallet with existing customers to maximize lifetime value. He will be responsible for product marketing efforts -- including Internet and direct marketing -- advertising, customer research, business development and ommunications. Schar reports to Steve Bennett, Intuit's president and chief executive officer.
04/04/2005 04:05:18 PM StreetInsider Alert for SBYN
Apr 4, 2005 (streetinsider.com via COMTEX) --SeeBeyond (Nasdaq: SBYN) warns for Q1; expects to report first quarter 2005 revenue in the range of $36.0 to $37.0 million. In accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Company expects to report a net loss for the first quarter in the range of $(0.04) to $(0.05) per share.
Previous guidance provided by the Company on January 26, 2005, estimated revenue for the first quarter of 2005 to be in the range of $42.0 to $44.0 million, and earnings to be in the range of $0.00 to $0.01 per share.
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04/04/2005 03:05:12 PM StreetInsider Alert for STST
Apr 4, 2005 (streetinsider.com via COMTEX) --Argon ST, Inc. (NASDAQ: STST) announced that it has received an order valued at $6.4M to provide system upgrades for U.S. submarines.
04/04/2005 03:00:16 PM StreetInsider Alert for MCIP
Apr 4, 2005 (streetinsider.com via COMTEX) --Verizon (NYSE: VZ) issues letter to MCI, Inc. (Nasdaq: MCIP) regarding Qwest's (NYSE: Q) latest offer for the company. Verizon said they believe Qwest's offer is inferior to their own and says if MCI's boards declares this bid to be "superior", they would no longer be interested in participating.
04/04/2005 02:55:18 PM StreetInsider Alert for CAKE
Apr 4, 2005 (streetinsider.com via COMTEX) --The Cheesecake Factory Incorporated (Nasdaq: CAKE) announced that it has completed its review of the accounting treatment for its operating leases. As previously disclosed, the Company determined the need to restate its previously announced results for fiscal 2004 and its prior year financial statements to correct its accounting for leases in order to conform with U.S. generally accepted accounting practices. The restatement adjustments had no impact on previously reported revenues or net cash flows. The Company's adjustments to lease accounting policies are more fully described in its Annual Report on Form 10-K filed today with the Securities and Exchange Commission, which includes restated historical financial information for certain periods.
The restatement adjustments reduced net income by $1.2 million, $0.6 million and $0.3 million for fiscal years 2004, 2003 and 2002, respectively. As a result, diluted net income per share was reduced by $0.01 in fiscal 2004 but unchanged in fiscal 2003 and 2002. In addition, the cumulative reduction to retained earnings as of the beginning of fiscal 2002 was $0.3 million.
04/04/2005 01:55:12 PM StreetInsider Alert for DJ:INDU
Advanced Battery Technologies Inc (OTCBB: ABAT) 263.64% HIGHER; Altair Nanotechnologies, Inc. (Nasdaq: ALTI) and the Company signed a development agreement for lithium polymer batteries in China.
The Immune Response Corporation (Nasdaq: IMNR) 31.71% LOWER; in its 2004 financial statements, the audit opinion of Levitz, Zacks & Ciceric contained a going-concern qualification.
Maxcor Financial Group Inc. (Nasdaq: MAXF) 19.02% HIGHER; will be acquired by a BGC Partners, L.P. affiliate for $14.00 per share in cash.
Altair Nanotechnologies, Inc. (Nasdaq: ALTI) 14.53% HIGHER; and Advanced Battery Technologies, Inc (OTCBB: ABAT) signed a mutually exclusive development agreement.
Xybernaut Corporation (Nasdaq: XYBR) 12.50% HIGHER; is seeing a rally after Friday's low.
SR Telecom Inc. (Nasdaq: SRXA) 12.13% HIGHER; received purchase orders valued at approximately CDN$11 million from Siemens.
NetIQ Corp. (Nasdaq: NTIQ) 9.49% LOWER; guided Q3 EPS and revenues below the consensus.
Morgan Stanley (NYSE: MWD) 4.2% HIGHER; the company's board has okayed the sale of its Discover Card unit.
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RADI MAXF HAST ASH DJ:INDU ARTX MBI SMI (To Earlier Below)
04/04/2005 12:40:34 PM StreetInsider Alert for RADI
Apr 4, 2005 (streetinsider.com via COMTEX) --RADA Electronic Industries Ltd. (NASDAQ: RADI) announced that it has received a $1.6 million purchase order, from Lockheed Martin Aeronautics Company, to provide the Israeli Air Force with "Reality" - an advanced flight debriefing system and Squadron Information Management Network (SIMNet). The systems will be supplied to the IAF during the third quarter of 2005.
04/04/2005 12:30:15 PM StreetInsider Alert for MAXF
Apr 4, 2005 (streetinsider.com via COMTEX) --Maxcor Financial Group Inc. (Nasdaq: MAXF) and BGC Partners, L.P. announced today that they have entered into a definitive merger agreement pursuant to which Maxcor will be acquired by an affiliate of BGC for $14.00 per share in cash.
04/04/2005 12:30:14 PM StreetInsider Alert for HAST
Apr 4, 2005 (streetinsider.com via COMTEX) --Hastings Entertainment, Inc. (Nasdaq: HAST) authorized a stock repurchase program. At current market price, this stock buy back will approximate 3% ($$2.5 Million) of the company's outstanding common shares.
04/04/2005 12:10:16 PM StreetInsider Alert for ASH
Apr 4, 2005 (streetinsider.com via COMTEX) --Gary A. Cappeline, president and chief operating officer of the Chemical Sector of Ashland Inc. (NYSE: ASH) announced the movement of Elizabeth "Liz" Potts and Marcello Boldrini to new positions on the company's senior management team, effective May 1, 2005. Liz Potts has been named vice president of purchasing for Ashland Inc. She will be based in Dublin, Ohio, and will report to Larry Baker, vice president, global supply chain for Ashland's Chemical Sector. Marcello Boldrini has been promoted to vice president, Ashland Specialty Chemical, and general manager, Specialty Polymers & Adhesives. In his new role, Boldrini will be responsible for driving the growth strategy for Ashland's SP&A business group, a global leader in high-performance, pressure- sensitive and structural adhesives, and specialty resins. He will be based in Dublin, Ohio, and will report to Mike Shannon, senior vice president, Thermoset Resins, Ashland Specialty Chemical.
04/04/2005 10:40:14 AM StreetInsider Alert for DJ:INDU
The Immune Response Corporation (Nasdaq: IMNR) 22.07% LOWER; in its 2004 financial statements included in the Company's Form 10-K filed last week, the audit opinion of Levitz, Zacks & Ciceric contained a going-concern qualification.
NetIQ Corp. (Nasdaq: NTIQ) 11.35% LOWER; guided Q3 EPS and revenues below the consensus. In addition, JP Morgan downgraded the stock.
SR Telecom Inc. (Nasdaq: SRXA) 10.64% HIGHER; received purchase orders valued at approximately CDN$11 million from Siemens for the ongoing Telefonica TRAC initiative.
Unocal Corporation (NYSE: UCL) 6.96% LOWER; ChevronTexaco Corporation (NYSE: CVX) will acquire the Company in a stock and cash transaction valued at approximately $18 billion.
InteliData Technologies Corporation (Nasdaq: INTD) 4.12% LOWER; sees a selloff after Friday's high after Corillian Corp. (Nasdaq: CORI) announced a definitive agreement to acquire the Company.
04/04/2005 10:35:17 AM StreetInsider Alert for ARTX
Apr 4, 2005 (streetinsider.com via COMTEX) --Arotech Corporation (Nasdaq: ARTX) said its Simulation and Security Division, through its FAAC and IES subsidiaries, has received new orders totaling over $1.8 million for combat operations, driving and use-of-force simulator training equipment.
04/04/2005 09:50:14 AM StreetInsider Alert for MBI
Apr 4, 2005 (streetinsider.com via COMTEX) --MBIA Inc. (NYSE: MBI) said it has purchased over 3.4 million shares as part of its buyback program in the first quarter of 2005. The Company has approximately 7.4 million shares remaining in the share buyback program, which was authorized by the board in 2004.
04/04/2005 09:35:14 AM StreetInsider Alert for SMI
Apr 4, 2005 (streetinsider.com via COMTEX) --Salomon Smith Barney upgraded Semiconductor Manufacturing Intl Corp ADS (NYSE: SMI) from Sell to Buy; target price increased from $10.00 tp $13.00. The firm based their upgrade on SMIC announcing it may record losses in 1Q05, consensus estimates were lowered and their previous concerns now seem priced in.
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04/04/2005 09:20:20 AM StreetInsider Alert for GENZ
Apr 4, 2005 (streetinsider.com via COMTEX) --Genzyme Corporation (Nasdaq: GENZ) announced today that physicians have treated the first patients in a Phase 3 clinical study to test the safety and efficacy of tolevamer, an investigational polymer therapy for patients with Clostridium difficile associated diarrhea (CDAD), a form of infectious diarrhea caused by the bacterium C. difficile.
04/04/2005 09:20:20 AM StreetInsider Alert for DD
Apr 4, 2005 (streetinsider.com via COMTEX) --DuPont (NYSE: DD) and Magellan Systems International announced that they have signed definitive agreements under which DuPont will increase its equity interest in Magellan. Financial terms of the agreements were not disclosed.
04/04/2005 09:20:07 AM StreetInsider Alert for SUNH
Apr 4, 2005 (streetinsider.com via COMTEX) --CareerStaff Unlimited, Inc., a wholly owned healthcare staffing subsidiary of Sun Healthcare Group, Inc. (NASDAQ: SUNH), announced the acquisition of the operations of SingleSource Staffing and oddard Healthcare Consulting, Inc. Both acquisitions were effective April 1, 2005. Revenues in 2004 for these two operations were approximately $3.2 million. Terms of the deals were undisclosed.
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04/04/2005 09:15:09 AM StreetInsider Alert for AOC
Apr 4, 2005 (streetinsider.com via COMTEX) --Aon Corporation (NYSE: AOC) announced the election of Gregory C. Case, 42, as president and chief executive officer, effective immediately. Case has also been elected to the Aon Board of Directors. Case succeeds Patrick G. Ryan, who has served as Aon's CEO since the company's founding. Ryan will serve as executive chairman of the Aon Board of Directors.
04/04/2005 09:15:09 AM StreetInsider Alert for RIG
Apr 4, 2005 (streetinsider.com via COMTEX) --Transocean Inc. (NYSE: RIG) announced that it has been awarded contracts for four of the company's High-Specification semisubmersible rigs, the Sedco Energy, Deepwater Discovery, Transocean Leader, and Sedco 709.
04/04/2005 09:15:08 AM StreetInsider Alert for ERES
Apr 4, 2005 (streetinsider.com via COMTEX) --eResearchTechnology, Inc. eResearchTechnology, Inc. (Nasdaq: ERES) announced that it has been awarded more than $5 million in cardiac safety monitoring and services for three significant later phase development programs by three diverse sponsors.
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04/04/2005 09:10:16 AM StreetInsider Alert for TIBX
Apr 4, 2005 (streetinsider.com via COMTEX) --Xyleme Inc. announced an alliance with TIBCO Software Inc. (Nasdaq: TIBX) and the integration of Xyleme's XML repository, Xyleme Server, with TIBCO's Messaging and Portal solutions.
Integration with TIBCO Messaging allows organizations to archive and query large volumes of heterogeneous messages in near real-time. Additional integration between Xyleme Server and TIBCO Portal provides customers with a precision XML search and notification facility. Xyleme Server combines the best of structured query and full-text search, enabling real-time syndication and distribution of high-value content across the enterprise and to partners.
04/04/2005 09:10:15 AM StreetInsider Alert for VIGN
Apr 4, 2005 (streetinsider.com via COMTEX) --Vignette Corp. (Nasdaq: VIGN) announced that it has been awarded a patent for cutting-edge technology which supports automatic localization and presentation of content based on a user's locale. By applying this technology, organizations can dynamically generate Web content in the right language and format without explicitly prompting visitors for additional information, creating a better experience for site visitors, which can translate to increased customer satisfaction and loyalty.
04/04/2005 09:10:15 AM StreetInsider Alert for PBI
Apr 4, 2005 (streetinsider.com via COMTEX) --Pitney Bowes Inc. (NYSE: PBI) entered into a definitive agreement with Cerberus Capital Management, L.P. for a sponsored spin-off of its Capital Services external financing business. Under the terms of the agreement, Cerberus is expected to invest in excess of $100 million for common and preferred stock representing up to 19.9% of the voting interest and up to 48% economic interest in the spun-off entity. The agreement anticipates that Pitney Bowes stockholders will receive 80.1% of the common stock of the new public company in a tax-free distribution.
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04/04/2005 09:05:16 AM StreetInsider Alert for MVSN
Apr 4, 2005 (streetinsider.com via COMTEX) --Macrovision Corporation (Nasdaq: MVSN) announced that Loren Hillberg joined the Company as Executive Vice President, General Counsel reporting to CEO Bill Krepick. In this capacity, Hillberg will be the Company's first inside General Counsel and will be responsible for all corporate legal matters including contracts, intellectual property, SEC matters, trademarks, litigation, M&A legal support, federal and state regulatory compliance and advocacy, as well as HR and facilities.
04/04/2005 09:05:15 AM StreetInsider Alert for MONE
Apr 4, 2005 (streetinsider.com via COMTEX) --Lazard Freres initiated coverage on MatrixOne Incorporated (Nasdaq: MONE) with a Buy rating; $7.00 price target. The firm assigned their Buy rating to the stock as the shares appear to be undervalued.
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04/04/2005 09:00:27 AM StreetInsider Alert for AGIL
Apr 4, 2005 (streetinsider.com via COMTEX) --Lazard Freres initiated coverage on Agile Software Corporation (Nasdaq: AGIL) with a Buy rating; $9.00 price target. The firm notes that the shares appear to be undervalued.
04/04/2005 09:00:16 AM StreetInsider Alert for TIMHY
Apr 4, 2005 (streetinsider.com via COMTEX) --Goldman Sachs downgraded Tim Hellas Telecommunications S.A. ADS (Nasdaq: TIMHY) from Outperform to In-Line. According to the firm, TIMHY has accepted an offer from Apax and TPG for its 81% stake in TIMHY. The companies stated they will acquire TIMHY's remaining shares at the same price per share through a cash merger under Greek law. The price is a 2% premium to April 1's close price. Therefore, they lowered their rating given proximity of current share price to the offer.
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04/04/2005 08:55:52 AM StreetInsider Alert for WSTM
Apr 4, 2005 (streetinsider.com via COMTEX) --Workstream Inc. (NASDAQ: WSTM) announced the appointment of three individuals to the Company's senior leadership team, Stephen Lerch as Chief Financial Officer and Chief Operating Officer, Michael Gioja as Executive Vice President of Technology and Operations and Neil McAdorey as Senior Director of Business Development.
04/04/2005 08:55:51 AM StreetInsider Alert for THK
Apr 4, 2005 (streetinsider.com via COMTEX) --CGI Holding Corporation, which plans to seek shareholder approval to change its name to Think Partnership Inc. (AMEX: THK) announced that the Company has entered into two letters of intent to merge, through two wholly owned subsidiaries, with privately held Vintacom Media Group Inc. ("Vintacom") and Real Estate School Online Inc. ("Real Estate School Online"). The Company expects to pay an aggregate of $4.95 million in cash and $4.95 million in stock to acquire the two companies. The shareholders of Vintacom and Real Estate School Online will also be entitled to certain earnout/lookback payments if the pre-tax earnings of the companies exceed specified targets during the first twelve full calendar quarters following the closings. The Company expects the two acquisitions to add a total of $3.2 million dollars to its pre-tax income annually, and to be immediately accretive to earnings.
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04/04/2005 08:50:18 AM StreetInsider Alert for RSAS
Apr 4, 2005 (streetinsider.com via COMTEX) --RSA Security Inc. (Nasdaq: RSAS) announced that RSA BSAFE Crypto-C Micro Edition 1.9 encryption software has received Federal Information Processing Standards (FIPS) 140-2 validation with certificate 508. This validation -- which encompasses 12 different platforms -- signifies that RSA BSAFE Crypto-C Micro Edition conforms to the FIPS 140-2 Level 1 security requirements for cryptographic modules, which is required before any cryptographic product can be used by U.S. federal departments or agencies. This broad platform availability helps ensure the widest range of government applications will be able to benefit from the time and cost savings associated with a FIPS 140-2 validated module.
04/04/2005 08:50:17 AM StreetInsider Alert for SNDK
Apr 4, 2005 (streetinsider.com via COMTEX) --Bear Stearns upgraded Sandisk Corporation (Nasdaq: SNDK) from Underperform to Peer Perform. The firm based their upgrade on their checks indicating that flash market tightness should extend into 2Q05, a positive for SNDK. In their opinion, supply could catch up with demand in 2H, keeping it from Outperform.
04/04/2005 08:50:17 AM StreetInsider Alert for ONNN
Apr 4, 2005 (streetinsider.com via COMTEX) --Needham resumes a Buy rating for ON Semiconductor Corporation (Nasdaq: ONNN). The firm is resuming their coverage on ONNN.
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04/04/2005 08:45:20 AM StreetInsider Alert for HMSL
Apr 4, 2005 (streetinsider.com via COMTEX) --Hemosol Corp. (NASDAQ: HMSL) announced that it has negotiated an agreement with Biomedical Frontiers Incorporated (BMF), a private biopharmaceutical company located in Minneapolis, Minnesota, under which Hemosol will produce two separate iron-binding drugs (40SD02 and 25SD04). These injectable drug formulations will be used for pre-clinical and clinical studies for treatment of iron poisoning, iron overload and diabetic complications.
Production is scheduled to begin in the second quarter of 2005. Revenue from the agreement governing
04/04/2005 08:45:19 AM StreetInsider Alert for XTO
Apr 4, 2005 (streetinsider.com via COMTEX) --XTO Energy Inc. (NYSE: XTO) announced that Vice Chairman and President Steffen E. Palko will retire as of April 30, 2005 and will no longer serve on the Board of Directors. Mr. Palko will continue his relationship with the Company on a consulting basis as he pursues other interests.
04/04/2005 08:40:06 AM StreetInsider Alert for BSC
Apr 4, 2005 (streetinsider.com via COMTEX) --The Bear Stearns Companies Inc. (NYSE: BSC) announced that, subject to the FSA's approval, it has acquired an ownership stake in UK based Essex & Capital Mortgage Corporation Limited. Prior to consummation of the transaction, Essex & Capital will acquire its "packager" affiliate ICMG. Essex & Capital is an independent mortgage broker that specializes in the sub-prime mortgage market. In its new role, Essex & Capital will process residential loan packages from brokers or consumers and aggregate them for placement with lenders. Terms of the deal were not disclosed.
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04/04/2005 08:35:20 AM StreetInsider Alert for CGFW
Apr 4, 2005 (streetinsider.com via COMTEX) --CyberGuard Corporation (Nasdaq: CGFW) announced that its technology is powering Trusonic's newest MBOX Media Player which was recently launched. Trusonic provides custom business music and messaging services and maintains licensing relationships with major record labels and over 200,000 Independent Artists representing over 1.5 million songs.
04/04/2005 08:35:19 AM StreetInsider Alert for CRIS
Apr 4, 2005 (streetinsider.com via COMTEX) --Curis, Inc. (NASDAQ: CRIS) announced that it has established a second major collaboration with Genentech, Inc. (NYSE: DNA). This new collaboration, in which Curis will work exclusively with Genentech, involves the discovery and development of small molecule modulators of an undisclosed pathway that plays an important role in cell proliferation. This pathway is a key regulator of tissue formation and repair, and its abnormal activation is associated with certain cancers.
04/04/2005 08:35:18 AM StreetInsider Alert for NARA
Apr 4, 2005 (streetinsider.com via COMTEX) --Sandler O'Neill & Partners upgraded Nara Bancorp, Inc. (Nasdaq: NARA) from Sell to Buy; target price increased from $14.00 to $17.00. The firm based their upgrade on the 20% sell-off that followed NARA's announcement that it would be restating its earnings for 2002 related to a compensation arrangement with the former CEO. The firm notes that following speaking with President and CEO Ho Yang Friday, they are reasonably confidant that NARA's problem will not likely create any material operational issues that will distract mgmt.
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04/04/2005 08:30:17 AM StreetInsider Alert for WWE
Apr 4, 2005 (streetinsider.com via COMTEX) --World Wrestling Entertainment (NYSE: WWE) and NBC Universal have inked a new, three-year agreement that will return WWE cable programming, including ratings titan Monday Night RAW®, to USA Network beginning in October 2005, it was announced today by Linda McMahon, WWE CEO, and Bonnie Hammer, president, USA Network and SCI FI Channel. RAW, a cable mainstay for more than 12 years, continues to be the most watched regularly scheduled year-round program on ad-supported cable television. The agreement is a homecoming of sorts for WWE, which introduced Monday Night RAW on USA on January 11, 1993. The prime time cable series flourished for seven years, establishing cable ratings records, before moving to Spike TV on September 25, 2000.
04/04/2005 08:30:16 AM StreetInsider Alert for QSFT
Apr 4, 2005 (streetinsider.com via COMTEX) --Quest Software Inc. (Nasdaq: QSFT) announced that Unisys Corp. has selected Quest's application and database management solutions for Oracle to proactively plan, predict and control service level agreements for both Oracle and custom J2EE Web applications for the Transportation Security Administration (TSA) under the Information Technology Managed Services (ITMS) contract.
04/04/2005 08:25:13 AM StreetInsider Alert for WFII
Apr 4, 2005 (streetinsider.com via COMTEX) --Wireless Facilities, Inc. (Nasdaq: WFII) announced that it has been awarded a wireless network communication project from a major national wireless carrier. The project, valued in excess of $6 million, is an expansion of an existing umbrella contract of previously announced work valued at approximately $17 million, bringing the total cumulative value of this contract to approximately $23 million.
According to terms of the agreement, WFI will perform turnkey site identification, acquisition, and deployment services for multiple sites located throughout the western United States. Work is scheduled to begin immediately and will be concluded in 2006. Further terms of the award were not disclosed.
04/04/2005 08:20:09 AM StreetInsider Alert for WYNN
Apr 4, 2005 (streetinsider.com via COMTEX) --Harris Nesbitt Gerard initiated coverage on Wynn Resorts Ltd. (Nasdaq: WYNN) with an Outperform rating; $86.00 price target. The firm looks for WYNN to grow its EBITDA at a 46% compounded annual rate from 2005-2009 as it opens three resort casinos in Las Vegas and Macau during that time period. They view WYNN as an attractive pure-play investment in the high-end gaming business in the world's two largest markets which include Las Vegas and Macau.
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04/04/2005 08:20:09 AM StreetInsider Alert for WAG
Apr 4, 2005 (streetinsider.com via COMTEX) --Walgreen Co. (NYSE: WAG) had March sales of $3,743,160,000, an increase of 16.1 percent from $3,223,359,000 for the same month in 2004. Sales in comparable stores (those open at least a year) rose 11.6 percent. March sales benefited from an early Easter compared with Easter in April last year.
March pharmacy sales increased 13.8 percent, while comparable pharmacy sales rose 10.3 percent. Total prescriptions filled at comparable stores increased 9.1 percent. Pharmacy sales accounted for 64.0 percent of total sales for the month.
04/04/2005 08:20:09 AM StreetInsider Alert for WYNN
Apr 4, 2005 (streetinsider.com via COMTEX) --Harris Nesbitt Gerard initiated coverage on Wynn Resorts Ltd. (Nasdaq: WYNN) with an Outperform rating; $86.00 price target. The firm looks for WYNN to grow its EBITDA at a 46% compounded annual rate from 2005-2009 as it opens three resort casinos in Las Vegas and Macau during that time period. They view WYNN as an attractive pure-play investment in the high-end gaming business in the world's two largest markets which include Las Vegas and Macau.
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04/04/2005 08:15:20 AM StreetInsider Alert for CHCI
Apr 4, 2005 (streetinsider.com via COMTEX) --Robert W. Baird initiated coverage on Comstock Homebuilding Company (Nasdaq: CHCI) with an Outperform rating; $27.00 price target. In the firm's opinion, Comstock is one of the few public homebuilding companies that is significantly invested in the condominium development and conversion business. They feel the rewards and the risks associated with this business require a highly focused mgmt team that can monitor and evaluate the proper course and adjust strategy as necessary. In addition, they believe Comstock trades at a significant relative discount on a PEG ratio basis.
04/04/2005 08:15:19 AM StreetInsider Alert for ACN
Apr 4, 2005 (streetinsider.com via COMTEX) --The Arizona Department of Administration has awarded Accenture (NYSE: ACN) a contract to assist the state in the transformation of its telecommunications capabilities to next-generation converged network technologies, including voice over Internet protocol (VoIP). The contract, which also calls for Accenture to provide management services for the telecommunications systems for all executive branch agencies of the Arizona State government on an outsourced basis, is valued at $98 million over five years. Under the broad program, Accenture will work closely with the State of Arizona to redefine its statewide telecommunications enterprise in order to improve standard telecommunications security, services and service level agreements at all of the state's executive branch locations. The program is notable for its focus on improved enterpris business results and the use of metrics and ongoing measurement to assess program results and achievements.
04/04/2005 08:15:19 AM StreetInsider Alert for NTIQ
Apr 4, 2005 (streetinsider.com via COMTEX) --NetIQ Corp. (Nasdaq: NTIQ) warns for Q3; sees revenue in the range of $61 to $63 million, versus previously disclosed revenue guidance of $67 to $70 million for the quarter. The company also expects both GAAP and non-GAAP earnings per share to be lower than the previously provided guidance.
04/04/2005 08:10:17 AM StreetInsider Alert for BBY
Apr 4, 2005 (streetinsider.com via COMTEX) --CIBC World Markets reiterated an Outperform rating on Best Buy Company Inc (NYSE: BBY); target price decreased from $62.00 to $60.00. The firm expects 3%-4% SSS growth for FY06 - low single digit growth in 1H05 and mid single digit in 2H05. They have lowered BBY's FY06 EPS estimate to $3.00 from $3.40. Jefferies Group downgraded the stock from Buy to Hold; target price decreased from $53.00 to $48.00. The firm based their downgrade on BBY's Q4 report citing the company's ongoing guidance suggests only moderate YoY EPS growth that in part is heavily influenced by mandated accounting changes. They mentioned other concerns of a low single-digit older store sales guidance for Q1, a forecasted 25%-35% decline in the average selling price of flat screen HDTV sets this year, and anticipated shift to a lower margin sales mix.
04/04/2005 08:10:16 AM StreetInsider Alert for MOH
Apr 4, 2005 (streetinsider.com via COMTEX) --Molina Healthcare, Inc. (NYSE: MOH) filed a registration statement with the SEC relating to the proposed follow-on offering of 3,000,000 shares of common stock. Of the 3,000,000 shares, 1,000,000 are being offered by the Company and 2,000,000 are being offered by three selling stockholders.
04/04/2005 08:10:16 AM StreetInsider Alert for UCL
Apr 4, 2005 (streetinsider.com via COMTEX) --UPDATE: ChevronTexaco Corporation (NYSE: CVX) and Unocal Corporation (NYSE: UCL) announced today that ChevronTexaco would acquire Unocal in a stock and cash transaction valued at approximately $18 billion, including net debt.
The acquisition consideration is structured as 75 percent stock and 25 percent cash, providing an overall value of approximately $62 per share based on the closing price of ChevronTexaco stock on April 1. Unocal shareholders may elect to receive either 1.03 shares of ChevronTexaco stock or $65 in cash for each share of Unocal stock; however, both of these elections will be subject to proration.
04/04/2005 08:10:15 AM StreetInsider Alert for BPA
Apr 4, 2005 (streetinsider.com via COMTEX) --BioSante Pharmaceuticals, Inc. (Amex: BPA) announced the completion of its12-week pivotal Phase III clinical trial to evaluate the safety and efficacy of Bio-E-Gel for the treatment of moderate-to-severe hot flashes in menopausal women. Hot flashes occur in up to 85 percent of menopausal women.
04/04/2005 08:10:14 AM StreetInsider Alert for CBH
Apr 4, 2005 (streetinsider.com via COMTEX) --U.S. Bancorp Piper Jaffray downgraded Commerce Bancorp, Incorporated (NYSE: CBH) from Outperform to Market Perform; target price decreased from $35.00 to $34.00. In the firm's opinion, money markets and government deposits in particular, as likely to react rather quickly to upward Fed funds movements, potentially making Commerce relatively more sensitive to increasing deposit funding costs.
04/04/2005 08:01:11 AM StreetInsider Alert for NUCO
Apr 4, 2005 (streetinsider.com via COMTEX) --Bear Stearns initiated coverage on NUCO2 Inc. (Nasdaq: NUCO) with an Outperform rating; $31.00 price target. The firm based their Outperform rating on the following reasons: 1) NUCO2 is largest and only national distributor of beverage-grade CO2; 2) margins transcend those of a distributor; 3) substantial potential for significant mkt development and penetration; and 4) premium valuation.
04/04/2005 08:01:08 AM StreetInsider Alert for ALDN
Apr 4, 2005 (streetinsider.com via COMTEX) --Piper Jaffray initiates coverage on Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN) with a 'market perform' rating and $26 price target.
04/04/2005 08:01:07 AM StreetInsider Alert for GNW
Apr 4, 2005 (streetinsider.com via COMTEX) --Banc of America initiates coverage on Genworth Financial (NYSE: GNW) with a 'buy' rating and $36 price target.
04/04/2005 08:01:06 AM StreetInsider Alert for AH
Apr 4, 2005 (streetinsider.com via COMTEX) --Armor Holdings, Inc. (NYSE: AH) said its Board of Directors increased its existing stock repurchase program to enable the Company to repurchase, from time to time depending upon market conditions and other factors, up to an additionaAH)l 3.5 million shares of its outstanding common stock.
04/04/2005 08:00:56 AM StreetInsider Alert for MTLK
Apr 4, 2005 (streetinsider.com via COMTEX) --Metalink Ltd. (NASDAQ: MTLK) expects its revenues for the first quarter of 2005 to be approximately $3.0 million. Metalink also announced today that its Board of Directors has approved a plan to repurchase up to $10 million of its outstanding Common Stock.
04/04/2005 08:00:55 AM StreetInsider Alert for AH
Apr 4, 2005 (streetinsider.com via COMTEX) --Armor Holdings, Inc. (NYSE: AH) received a contract modification from the Defense Supply Center-Philadelphia for approximately $16.1 million to produce additional quantities of Outer Tactical Vests. The OTV is used in the Individual Body Armor ensemble and carries ceramic body armor inserts, also manufactured by Armor Holding.
04/04/2005 08:00:55 AM StreetInsider Alert for ESCC
Apr 4, 2005 (streetinsider.com via COMTEX) --Evans & Sutherland Computer Corp. (Nasdaq: ESCC) has been awarded a $2.3M follow-on order by the U.S. Army's Program Executive Office for Simulation, Training, and Instrumentation to update the visual systems for its Close Combat Tactical Trainer Program.
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04/04/2005 08:00:48 AM StreetInsider Alert for SNN
Apr 4, 2005 (streetinsider.com via COMTEX) --J.P. Morgan upgrades Smith & Nephew (NYSE: SNN) from Neutral to Overweight on long-term earnings outlook.
04/04/2005 08:00:47 AM StreetInsider Alert for Q
Apr 4, 2005 (streetinsider.com via COMTEX) --Qwest Communications (NYSE: Q) said it delivered to MCI's (Nasdaq: MCIP) advisors signed financing commitments to fund a Qwest-MCI transaction and to enable the new combined company to compete aggressively for new customers, make necessary capital improvements and continue to expand next generation services.
MCI has an current merger agreement with Verizon (NYSE: VZ).
04/04/2005 08:00:46 AM StreetInsider Alert for OCR
Apr 4, 2005 (streetinsider.com via COMTEX) --Omnicare (NYSE: OCR) announced that it has extended its offer for all of the outstanding shares of NeighborCare, Inc. (Nasdaq: NCRX) common stock for $30.00 per share in cash. The offer, which was to have expired on Friday, April 1, 2005 at 5:00 p.m., New York City time, has been extended until 5:00 p.m., New York City time, on April 29, 2005.
04/04/2005 08:00:46 AM StreetInsider Alert for OPTV
Apr 4, 2005 (streetinsider.com via COMTEX) --OpenTV Corp. (Nasdaq: OPTV) and Bluestreak Network announced the signing of a multi-year agreement pursuant to which OpenTV will be able to distribute the DEM as an extension to OpenTV's Core middleware.
04/04/2005 08:00:45 AM StreetInsider Alert for BIVN
Apr 4, 2005 (streetinsider.com via COMTEX) --JP Morgan initiates coverage on Bioenvision (Nasdaq: BIVN) with an 'overweight' rating; says the potential positive impact of Clofarabine in the EU marketplace has been underappreciated.
04/04/2005 08:00:45 AM StreetInsider Alert for CTL
Apr 4, 2005 (streetinsider.com via COMTEX) --Merrill Lynch downgrades CenturyTel (NYSE: CTL) from Buy to Neutral on valuation.
04/04/2005 08:00:44 AM StreetInsider Alert for CYTO
Apr 4, 2005 (streetinsider.com via COMTEX) --Cytogen Corporation (Nasdaq: CYTO) announced a new clinical development initiative for a targeted oncology product designed to treat prostate and other cancers. The product candidate uses DOTA-based bifunctional chelant technology to radiolabel Cytogen's proprietary monoclonal antibody to prostate-specific membrane antigen with a therapeutic radionuclide.
04/04/2005 08:00:43 AM StreetInsider Alert for SRA
Apr 4, 2005 (streetinsider.com via COMTEX) --Merrill Lynch upgrades Serono SA (NYSE: SRA) from Neutral to Buy on strong Rebif sales outlook for MS.
04/04/2005 08:00:36 AM StreetInsider Alert for AMZN
Apr 4, 2005 (streetinsider.com via COMTEX) --Amazon.com, Inc. (Nasdaq: AMZN) announced it has acquired BookSurge LLC, a global leader in inventory-free book printing and fulfillment, based in Charleston, South Carolina. Terms of the acquisition were not disclosed.
04/04/2005 08:00:35 AM StreetInsider Alert for RESP
Apr 4, 2005 (streetinsider.com via COMTEX) --Respironics, Inc. (Nasdaq: RESP) has acquired 100 percent of the outstanding shares of Mini-Mitter Company, Inc., a 34-year-old, privately held company located in Bend, Oregon. Mini Mitter, which has revenues of approximately $5.5 million, develops and sells sleep and physiological monitoring products to commercial sleep laboratories and other medical, pharmaceutical and health research institutions involved in clinical trials. The base cash purchase price is $10.5 million, with provisions for additional payments to be made based on Mini Mitter's operating performance over the next two years.
04/04/2005 08:00:35 AM StreetInsider Alert for USM
Apr 4, 2005 (streetinsider.com via COMTEX) --Merrill Lynch upgrades U.S. Cellular (NYSE: USM) from Neutral to Buy on valuation-Price target $55.
04/04/2005 08:00:34 AM StreetInsider Alert for NITE
Apr 4, 2005 (streetinsider.com via COMTEX) --Knight Trading Group (Nasdaq: NITE) announced that it has agreed to acquire the business of Direct Trading Institutional, a privately held firm specializing in providing institutions with direct access trading through an advanced electronic platform. Financial terms of the all-cash transaction were not disclosed.
04/04/2005 08:00:33 AM StreetInsider Alert for SPRT
Apr 4, 2005 (streetinsider.com via COMTEX) --First Albany downgrades SupportSoft (Nasdaq: SPRT) from Buy to Neutral on challenging business outlook.
04/04/2005 08:00:24 AM StreetInsider Alert for NXY
Apr 4, 2005 (streetinsider.com via COMTEX) --UBS Securities upgrades Nexen (NYSE: NXY) from Reduce to Neutral on positive growth outlook.
04/04/2005 08:00:24 AM StreetInsider Alert for AKAM
Apr 4, 2005 (streetinsider.com via COMTEX) --Akamai Technologies (Nasdaq: AKAM) announced that Paul Sagan has assumed the role of chief executive officer of Akamai. Mr. Sagan holds the title of President & CEO, and also serves on the Company's Board of Directors. Previously, Mr. Sagan was the Company's president since 1999.
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04/04/2005 08:00:23 AM StreetInsider Alert for JOSB
Apr 4, 2005 (streetinsider.com via COMTEX) --Jos. A. Bank Clothiers (Nasdaq: JOSB) reports Q4 earnings of $0.88 per share, 4 cents better than estimates. Q4 revenues were $127.9 million, higher than analysts estimates of $124.36 million. JOSB sees full-year earnings between $2.00-2.05 vs. analysts estimates of $2.07.
04/04/2005 08:00:22 AM StreetInsider Alert for IMDC
Apr 4, 2005 (streetinsider.com via COMTEX) --Inamed Corporation (Nasdaq: IMDC) announced that it has received a letter from the U.S. Food and Drug Administration (FDA) with respect to its Style 410 cohesive gel-filled breast implants premarket approval (PMA) application. The letter outlines the additional information that Inamed must provide before the FDA can complete its review of Inamed's Style 410 PMA.
04/04/2005 08:00:21 AM StreetInsider Alert for AIG
Apr 4, 2005 (streetinsider.com via COMTEX) --Smith Barney upgrades American Int'l Group (NYSE: AIG) from Hold to Buy on overall strong business model.
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