Cerberus, Kimco, and Supervalu to Buy Albertson's for $9.6 Bln

Southern Union will buy Sid Richardson Energy for $1.6 billion, Adobe Systems plans to cut 10% of its staff, plus more stocks in the news Friday

Albertson's (ABS ) Albertson's is set to be sold to an investment group comprised of Cerberus Capital, Kimco Realty (KIM ), and the grocery chain store Supervalu (SVU ) for about $9.6 billion. A deal could lead to heavy layoffs and store closings, according to the Wall Street Journal.

Google (GOOG ) the Wall Street Journal reports that the company and Time Warner's (TWX )'s AOL are in exclusive talks over a deal that would have Google pay $1 billion for a 5% stake in AOL, deepening their advertising partnership.

Southern Union (SUG ) is to acquire the privately held Sid Richardson Energy Services Co., and the related company Richardson Energy Marketing for $1.6 billion in cash.

Adobe Systems (ADBE ) posted 31 cents vs. 23 cents fourth quarter earnings per share (GAAP) on a 19% revenue rise. It sees 13 cents to 16 cents first quarter EPS and plans to cut 10% of its workforce. The company announces the resignation of Murray Demo, its Chief Financial Officer, for personal reasons.

RadioShack (RSH ) says it is unlikely to achieve its $2.14 to $2.24 2005 EPS forecast. It says sales and profitability of wireless in the RadioShack store chain were weaker than anticipated, including the expected impact of its wireless carrier transition.

General Motors (GM )'s CEO reportedly says GM should see improved revenue in 2006 driven by its new product line of full-sized sport utility and trucks.

Scholastic (SCHL ) posted $1.59 vs. $1.80 second quarter earnings per share. A decline in International results and modestly lower profits in Children's Book Publishing and Distribution offset a 2% revenue rise.

KB HOME (KBH ) posted $3.51 vs. $2.21 fourth quarter earnings per share on a 32% rise in revenue. It reaffirms fiscal year 2006 EPS guidance of $11.25 and sets a 10 million share buyback. It also raises its dividend 33%.

Oracle (ORCL ) posted 15 cents vs. 16 cents second quarter earnings per share (GAAP) despite a 19% revenue rise. It remains on track to meet or exceed its goal of 20% EPS growth for fiscal year 2006.

Danaher (DHR ) raises the lower end of its 2005 EPS outlook from the previous range of $2.74 to $2.79 to $2.76 to $2.79. For 2006, it anticipates EPS to be in the range of $3.13 to $3.23 before expensing of stock options.

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