A group including Silver Lake Partners, Bain Capital, Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and Texas Pacific Group agreed to acquire Sungard Data (SDS ) in an $11.3 billion deal. Terms: $36 cash per Sungard share.
UBS Financial reportedly downgraded its rating on General Motors (GM ) to reduce.
Walgreen (WAG ) posted 48 cents, vs. 42 cents second-quarter earnings per share on a 7.7% same-store sales rise and 12% total sales rise. S&P downgrades to hold from strong buy.
Ligand Pharmaceuticals (LGND ) says its two pivotal Phase III studies of Targretin capsules in front-line combination therapy with standard chemotherapy to treat advanced non-small cell lung cancer did not meet their endpoints.
Meade Instrument (MEAD ) cut its $119 million to $123 million fiscal 2005 revenue estimate to $112 million on softness in the US telescope market; the company narrowed its 10 cents fiscal 2005 loss per share forecast (excluding ESOP expenses) to a 4 cents to 6 cents loss due to management of operating expenses and better-than-expected gross margins.
Blockbuster (BBI ) says its offer to acquire Hollywood Entertainment (HLYW ) for $14.50 per share in cash and stock has expired. Blockbuster did not extend the offer.
Boston Scientific (BSX ) says the jury found that a single claim of Johnson & Johnson's (JNJ ) Palmaz patent was valid, infringed by NIR stent, which was formerly sold by Boston Scientific. The jury only determined liability. Any monetary damages are still to be determined.
DreamWorks Animation (DWA ) filed for secondary stock offering of $500 million.
Bear Stearns downgraded Sanmina-SCI (SANM ) to peer perform from outperform.
AmerisourceBergen (ABC ) cut its fiscal 2005 EPS from continuing operations forecast a range of $4.00 to $4.10 to a range of $3.10 to $3.50 due to reduced buy-side profits from lower-than-anticipated inventory levels caused by transition to fee-for-service contracts with branded pharmaceutical companies.
The FDA designated Medtronic's (MDT ) Activa Deep Brain Stimulation Therapy as a Humanitarian Use Device for treatment of chronic, treatment-resistant obsessive compulsive disorder as alternative to anterior capsulotomy.
Nuveen Investment (JNC ) says St. Paul's Travelers is implementing a program to sell its equity interest (39.6 million shares) in Nuveen. Nuveen plans to buy $600 million of these shares.
ISTA Pharmaceuticals (ISTA ) says the FDA has approved a New Drug Application for its Xibrom 0.09% for treatment of ocular inflammation following cataract surgery.
Lexar Media (LEXR ) posted an 80-cent fourth-quarter loss per share vs. EPS of 21 cents one year earlier as higher cost of product revenue offset a 6% revenue rise. The company sees a 14 cent to 18 cent first quarter loss (including legal costs) on revenue of at least $200 million.
Some analysts say either Tiffany & Co. (TIF ) will solve its problems in Japan and re-energize its U.S. operations, or a savvier buyer (perhaps a European luxury-goods firm or cash-rich Coach (COH )) will do the job, according to a Barron's article.
Fulcrum reportedly upgrades Pathmark Stores (PTMK ) to neutral from sell.
Temple-Inland (TIN ) says it has received notice that investor Carl Icahn does not intend to nominate board candidates.
TIBCO Software (TIBX ) posted 5 cents vs. 4 cents first quarter EPS (non-GAAP) on a 40% revenue rise.
Verity (VRTY ) posted one cent vs. 12 cents third-quarter EPS (GAAP) as higher operating expenses offset an 11% revenue rise. The company sees breakeven to 3 cents fourth quarter EPS on revenue of $34 million to $36 million.