AstraZeneca will not list two patents protecting the active ingredient of Prilosec in the FDA's Orange Book. By listing the patents, AstraZeneca could have delayed FDA approval of Andrx Group's (ADRX) generic version of Prilosec. CIBC reiterated its strong buy rating on the company's stock.
Memberworks (MBRS) agreed to sell its iPlace Inc. unit to Homestore.com for $52M cash, and up to $36M in Homestore stock.
Rambus (RMBS) says that on Thursday a U.S. District Court rejected Infineon's motion to enjoin Rambus from pursuing further patent infringement litigation regarding Infineon's DDR SDRAM memory products.
Thomas Weisel downgraded Solectron (SLR) to market perform from buy, and DB Alex Brown downgraded to buy from strong buy. On Thursday the company agreed to acquire C-Mac.
Goldman cut estimates for Siebel Systems (SEBL) and Oracle.
AaiPharma (AAII) is seen lower on news that AstraZeneca will not list two U.S. patents covering the active ingredient of Prilosec (omeprazole) in FDA's Orange Book. AstraZeneca had a non-exclusive license on patents from aaiPharma.
Wild Oats Markets (OATS) posted a $0.14 Q2 loss from operations vs. $0.14 EPS despite a 3.9% comp-store sales rise. CFO Mary Beth Lewis resigned, and the company won't provide guidance for the rest of 2001, or 2002 until a business review is completed.
Goldman removed Cablevision Systems (CVC) from the recommended
list, and now rates market outperform. On Thursday the company posted a $0.69 Q2 loss vs. a $1.03 loss.
CS First Boston cut estimates on BEA Systems (BEAS).
US Airways (U) sees a Q3 loss in excess of $160 million before unusual items, and will take a pretax charge of about $405M, citing weak business travel.
A judge in California reportedly cut the $3 billion punitive award in the tobacco lawsuit against Philip Morris (MO) to $100 million, saying the award was excessive.
WebMD (HLTH) posted a $2.30 Q2 loss from operations vs. a $2.64 loss. S&P maintains hold.
Ade Corp. (ADEX) sees a wider than expected $0.09-$0.10 Q1 loss on about $26M revenues, at the low end of the previous revenue guidance. Ade cited order pushouts and a less favorable sales mix. Tucker Anthony cut estimates and the target.
Goldman removed Cablevision Systems (CVC) from the recommended list, and now rates
market outperform. On Thursday the company posted a $0.69 Q2 loss vs. a $1.03 loss.
Prudential reportedly initiated coverage on Idec Pharmaceutical (IDPH) with buy.
Vion Pharmaceutical (VION) set a 2.5 million offering at $5 per share.
Pixar (PIXR) posted $0.17 vs. $0.16 Q2 EPS despite 8.7% lower revenues. Pixar raised the $0.40-$0.55 2001 forecast to $0.50-$0.58.
An FDA advisory committee recommended approval, by a 6 to 3 vote, of United Therapeutics's (UTHR) Remodulin injection for the treatment of pulmonary arterial hypertension.
A U.S. Patent Office issued Corixa Corp. (CRXA) three patents related to oncology programs. Corixa and GlaxoSmithKline submited data regarding Bexxas for the treatment of non-Hodgkins' lymphona.
Learning Tree (LTRE) posted $0.31 vs. $0.54 Q3 EPS on 8.2% lower revenues, citing the impact of the slowdown in IT spending.
Whole Foods Markets (WFMI) agreed to acquire Harry's Farmers Market Inc. for about $35M in cash.