Amazon.com (AMZN ) falls after Citigroup downgrades the company to sell from hold.
Rayovac (ROV ) agrees to acquire United Industries Corp. in a deal valued at about $1.2 billion in stock, cash, and assumption of debt. S&P reiterates buy.
Eastman Chemical (EMN ) expects fourth-quarter earnings per share, excluding asset impairments, restructuring charges, and gains from sale of business and foreign exchange impact will be at the low end of 42 cents to 63 cents previous guidance. The company cites higher raw material and energy costs.
Continental Airlines (CAL ) says that for the month of Dec. 2004, consolidated passenger revenue per available seat mile (RASM) is estimated to have decreased between 4% to 5%, while mainline RASM is estimated to have decreased between 4.5% to 5.5%
Krispy Kreme Dounuts (KKD ) shares fell after a report that the company knew of slowing sales long before its infamous profit warning in May, 2004.
Sirius Satellite (SIRI ) announces Ford (F ) and Lincoln Mercury will begin offering Sirius as a factory installed option this summer. Ford targets factory installed option for up to 21 vehicle lines and expects to generate up to 1 million Sirius subscribers.
Walgreen (WAG ) posted 4.2% higher December same-store sales and 8.6% higher total sales.
Big defense contractors Lockheed Martin (LMT ) and Northrup Gruman (NOC ) stand to take the biggest hits from $30 billion in proposed budget cuts, as the Pentagon tightens its belt amid the rising cost of war in Iraq, according to the Wall Street Journal.
Goodyear Tire (GT ) says it will receive about $159 million from certain insurance companies as a settlement for the lawsuit previously filed by the tiremaker.
Piper Jaffray upgrades Guess (GES ) to outperform from market perform.
Sun Microsystems (SUNW ) slips after Merrill says channel checks suggest the second quarter appears to have had a "soft" close.
Deutsche Bank downgrades Genentech (DNA ) to hold from buy.
Zoll Medical (ZOLL ) sees a 5-cent to 10-cent first-quarter loss on revenue of about $50 million. It cites lower-than-expected sales to the North American hospital market. Also, the company says sales of AutoPulse did not ramp up as expected.
CIBC World downgrades Kintera Inc. (KNTA ) to underperform from sector perform.
Shire Pharmaceutical (SHPGY ) and New River Pharmaceuticals announce a deal to develop a new treatment for hyperactivity.
Pacific Crest upgrades ValueClick (VCLK ) to outperform from sector perform.
Intrusion Inc. (INTZ ) rises after the U.S. Army Directorate of Information Management selects the company for the deployment of SecureNet intrusion detection/prevention system and SpySnare spyware prevention system. It received $800,000 for the first phase of the project.