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FDA: Pfizer Drug Can Stay on Market

Pfizer (PFE) was higher as the FDA panel votes to allow Celebrex Cox-2 to remain on market. S&P reiterates hold..

News reports says Merck (MRK) would consider selling its arthritis pill Vioxx again if drug regulators decide heart risks are similar to those of related prescription pain relievers. S&P keeps hold.

According to news sources, Qwest (Q) says it will submit new bid to buy MCI (MCIP), raising the prospect of bidding war with Verizon (VZ).

Federated's (FD) takeover talks for rival May Department Stores (MAY) have resumed. The two department-store chains were about $2 a share apart on price, according to the Wall Street Journal.

J.M. Smucker (SJM) posted 70 cents, vs. 65 cents third-quarter earnings per share (excluding items) on a 60% sales rise. Excluding the contribution of the acquired Multifoods businesses, the company posted 60 cents, vs. 62 cents third-quarter earnings per share from continuing operations despite a 5% sales rise.

New York Times (NYT) agrees to acquire, an online consumer information provider, from Primedia (PRM) in all-cash deal valued at about $410 million. S&P keeps hold.

Tivo (TIVO) says as of Jan. 31, 2005, its subscription base exceeded 3 million.

Campbell Soup (CPB) posted 57 cents, vs. 57 cents second-quarter earnings per share as higher costs offset a 6% sales rise.

Intuit (INTU) posted 77 cents, vs. 73 cents ssecond-quarter earnings per share (GAAP) on 4.6% higher revenue. Due to investments, the company cuts $1.46 to $1.51 third-quarter earnings per share estimate (pro forma) to $1.42 to $1.47 and widens its 4-cent to 8-cent fourth-quarter loss (pro forma) to 5 cents to 9 cents. It sees $1.82 to $1.90 fiscal 2005 GAAP earnings per share.

Lions Gate Entertainment (LGF) proposed to raise between $150 million to $175 million in proceeds through private placement of convertible senior subordinated notes due 2025 of its unit Lions Gate Entertainment Inc.

Nvidia (NVDA) posted 27 cents, vs. 14 cents fourth-quarter earnings per share on a 20% revenue rise.

Kintera (KNTA) posted a 21-cent fourth-quarter loss, vs. a 23-cent loss on sharply higher revenues. The company sees a 17-cent to 21-cent first-quarter loss on $9.2 million to $10.1 million in revenue.

Akamai Technologies (AKAM) posted 10 cents, vs. 8 cents fourth-quarter earnings per share (GAAP) on an 8.1% revenue rise.

Zale (ZLC) posted $1.91, vs. $1.83 second-quarter earnings per share on 0.6% same-store sales rise and 2.5% total sales rise. Keybanc reportedly upgrades to hold from underweight. (PCLN) posted 12 cents, vs. 6 cents fourth-quarter earnings per share (GAAP) on 8.2% higher revenue. The company sees 7 cents to 11 cents first-quarter earnings per share (GAAP) and says it comfortable with analysts' consensus estimate of $1.18 earnings per share (pro forma) for 2005.

ValueClick (VCLK) posted 16 cents, vs. 7 cents fourth-quarter earnings per share on an 80% revenue rise. The company raises 2005 earnings per share guidance to 37 cents to 39 cents. S&P reiterates a strong buy.

Wireless Facilities (WFII) posted 15 cents, vs. 3 cents fourth-quarter earnings per share (GAAP) on 27% higher revenue. The company sees $490 million to $510 million in 2005 revenues.

Advanced Digital (ADIC) posted a breakeven first-quarter, vs. 7 cents earnings per share on 6.3% revenue decline. Bear Stearns downgrades to underperform from peer perform.

Trex (TWP) posted a 2-cent fourth-quarter loss, vs. a 5-cent loss on a 35% revenue rise. For 2005, the company expects sales and earnings per share to increase approximately 18% to 22%.

NetGear (NTGR) posted 26 cents, vs. 12 cents fourth-quarter earnings per share (GAAP) on 21% higher revenue. The company sees $105 million to $107 million in first-quarter revenue and non-GAAP operating margin in the 11.3% to 11.5% range. S&P reiterates hold.

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