Vicuron Pharmaceuticals (MICU ) agrees to be acquired by Pfizer (PFE ) at $29.10 per Vicuron share. The deal is valued at about $1.9 billion.
Goldman Sachs (GS ) posted $1.71, vs. $2.31 second-quarter earnings per share on 14% lower net revenue in investment banking. S&P reiterates strong buy.
Mineral products company Minerals Technologies (MTX ) says second-quarter results will be "significantly" lower than expected. The company cites extended an lockout in the Finnish paper industry and also notes higher-than-expected start-up costs and continued ramp-up costs in Germany.
Lehman upgrades Bed Bath & Beyond (BBBY ) to overweight from equal-weight.
Network Appliances (NTAP ) agrees to acquire Decru, a privately held storage security company, for $272 million in cash, with payment to be comprised of 80% stock and 20% cash. S&P reiterates hold.
The FDA approves Wyeth's (WYE ) Tygacil, a novel I.V. antibiotic with a broad spectrum of antimicrobial activity, including activity against drug-resistant Staphylococcus aureus and indicated for treatment of complicated cIAI and cSSI in adults.
Franchise-restaurant company Yum! Brands (YUM ) confirms 56 cents second-quarter earnings per share guidance (excluding a $17 million gain from IPO of Poland/Czech Republic venture). The company posted a 6% rise in second-quarter same-store sales for the international division, a 2% rise for the China division, and 5% growth for the U.S.
Oregon Steel Mills (OS ) cut 85 cents to 95 cents second-quarter earnings per share estimate to 75 cents to 85 cents. The company cites an inability to achieve scheduled delivery on approximately 30,000 tons of welded pipe products representing about $34 million of revenue.
Ultralife Batteries (ULBI ) cuts $28 million second-quarter revenue guidance to $21 million, as the U.S. Defense Department said the purchase of BA-5390 battery procurement will not occur in the second quarter. The company sees "modest" operating income, vs. previous guidance of $2.5 million.
New York Times (NYT ) sees 38 cents to 42 cents second-quarter earnings per share on low- to mid-single-digit revenue growth. The company says while ad revenues in the second quarter have exhibited modest year-on-year improvement, the ad market remains uneven across categories and markets.
Clorox (CLX ) continues to expects 4% to 6% fourth-quarter sales growth and 91 cents ot 97 cents fourth-quarter earnings per share. The company also expects 4% to 6% fiscal 2005 sales growth and $2.80 to $2.86 fiscal 2005 earnings per share from continuing operations.
Advancis Pharmaceutical (AVNC ) and Par Pharmaceutical (PRX ) say their Amoxicillin PULSYS Phase III trial for treatment of adults and adolescents with pharyngitis/tonsillitis due to strep throat failed to achieve its desired microbiological and clinical endpoints.
J.M. Smucker (SJM ) posted 45 cents, vs. 42 cents fourth-quarter earnings per share from continuing operations on a 57% sales rise. The company sees $2.16 billion fiscal 2006 revenue. It expects fiscal 2006 to include 13 cents in merger and integration costs and 9 cents in restructuring costs.
Microelectronics products company Entegris Inc. (ENTG ) posted 9 cents, vs. 12 cents third-quarter earnings per share on a 12% net sales decline. The company sees 4 cents to 5 cents fourth-quarter earnings per share on flat sequential total sales growth.
Winnebago Industries (WGO ) posted 52 cents, vs. 51 cents third-quarter earnings per share despite an 18% revenue decline.
Progress Software (PRGS ) posted 30 cents, vs. 21 cents second-quarter earnings per share (GAAP) on a 10% total revenue rise. The company sees $1.06 to $1.10 third-quarter earnings per share (GAAP).