Catellus Gains on Buyout News

Washington Mutual to buy Providian; Agilent reportedly plans to sell semiconductor unit; plus more of Monday's stocks in the news

Shares of real-estate development company Catellus Development (CDX ) moved higher Monday after it agreed to be acquired by industrial distribution facility company ProLogis (PLD ) in a deal valued at about $4.9 billion, including assumed liabilities and transaction costs. Terms of the agreement give $33.81 cash or 0.822 Proligis share per Catellus share held.

Providian Financial (PVN ) agreed to be acquired by Washington Mutual (WM ) in a cash and stock deal valued at about $6.45 billion, or about $18.71 per Providian share.

Agilent Technologies (A ) plans to sell its semiconductor unit, according to the Wall Street Journal. S&P believes sales would be logical and keeps hold.

The Wall Street Journal reports that E*Trade (ET ) has sweetened its bid for AmeriTrade Holdings (AMTD ). It offered AmeriTrade shareholders a 49.5% stake in the combined company and $2 billion in cash. E*Trade hopes to derail its rival's talks with TD Waterhouse.

Lowe's (LOW ) plans to build on its aggressive expansion plan by extending the reach of its stores into Canada. It expects to open its first Canadian stores in Toronto in 2007.

UBS Financial upgrades Heidrick & Struggles (HSII ) to buy from neutral.

Baird upgrades Korn/Ferry International (KFY ) to outperform from neutral.

Teva Pharmaceutical Industries (TEVA ) says the U.S. district court granted a preliminary injunction related to Teva's generic Clarithromycin Extended Release Tablets pending trial on merits or further court order. Second-quarter earnings per share are to be reduced by about 4 cents.

Packaging Dynamics (PKDY ) cut its 2005 earnings per share from continuing operations guidance to $1.13 to $1.23 from a previous guidance of $1.20 to $1.30. It cites challenges in the Specialty Laminations segment.

Rowan Cos. (RDC ) received notification from Tuscan Energy (Scotland) Limited, operator of Ardmore Field Development in the North Sea, that Tuscan is insolvent. As a result, production from Ardmore has been shut down.

Hovnanian Enterprises (HOV ) says the dollar value of net contracts, including unconsolidated joint ventures, rose 34% in May, while a number of net contracts increased 17% compared with May 2004.

R.R Donnelley & Co. (RRD ) agreed to acquire Asia Printers Group Ltd. from Asia Printing Holdings Ltd. in a deal valued at about $95 million.

Jos. A. Bank Clothiers (JOSB ) posted 47 cents, vs. 37 cents first-quarter earnings per share on a 4.1% same-store sales rise. The company raises fiscal 2006 earnings per share guidance to at least $2.07 to $2.12.

Quiksilver (ZQK ) posted 28 cents, vs. 24 cents second-quarter earnings per share on a 32% sales rise.

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