Cepheid (CPHD) and Northrop Grumman's Automation & Information Systems, Environmental Technologies Group announce they are working together on an adaptation of DNA-based bio-threat detection technology for use in the U.S. Postal Service.
Circuit City (CC) estimates its CarMax (KMX) holding is worth about $9 per share. Excluding the CarMax contribution to financials and the stock price, Circuit City is not a bargain, according to a press report.
An attempt by US Airway's (U) to replace much of its fleet with small regional jets abruptly stalled Sunday after a clash with its pilots' union, according to press reports.
Kmart (KM) says CEO Charles Conaway is leaving, and will be succeeded by Chairman James Adamson
Banc of America cut the $50 target on Emulex (EMLX) to $45, and trimmed estimates.
Based on current production levels and a strong secondary market for its loans, New Century (NCEN) raised its $3.60-$3.80 2002 EPS guidance to $3.90-$4.10. Jefferies plans to raise estimates, and reiterates buy.
A few teams of leveraged-buyout firms have entered first-round bids of between $2.5B-$3B for the plastics unit of Tyco International (TYC), according to press reports.
Wal-Mart Stores (WMT) raised its quarterly dividend to $0.30, and restored the authorization level of a share repurchase program to $3 billion.
Elantec Semiconductor (ELNT) agreed to be acquired by Intersil Corp. for about $1.4B. Terms: 1.24 Intersil shares, and $8 cash per Elantec share.
Qwest Communications (Q) received a informal inquiry from the SEC requesting voluntary production of documents relating to three previously disclosed aspects of 2000 and 2001 financial statements.
Williams-Sonoma (WSM) posted $1.20 vs. $0.79 Q4 EPS on 6.3% same store sales rise, and sees $0.03-$0.04 Q1 fiscal 2003 EPS, and $0.04-$0.05 Q2 EPS, and maintains fiscal 2003 EPS guidance.
A press report says Federated Dept. (FD) and May Dept. (MAY) have been holding preliminary merger talks, according to people familiar with the matter.
Avaya (AV) cut its $1.254B-$1.358B Q2 revenue forecast to $1.240B-$1.275B, and sees a $0.06-$0.10 loss from ongoing operations vs. the previous forecast of a $0.08 loss.
The FDA's Microbiology Devices Panel recommended the FDA approve, with conditions, Digene's (DIGE) Pre-Market Approval Supplement application for the DNA Pap.
Williams Cos. (WMB) says it is the pursuing sale of Williams' Pipe Line to Williams Energy Partners for at least $900M. The sale is expected to occur before the end of Q2.
Salomon Smith Barney reportedly downgraded Macromedia (MACR) to outperform from buy.
According to press reports, some professionals say JP Morgan JPM shares are cheap. The company's CEO says it's almost through its rough patch, and remains sound. The CEO also added that the company will not cut its annual dividend, and that its credit rating is unlikely to fall below double-A.