GlaxoSmithKline to Buy ID Biomedical

Electronics For Imaging ups forecast; Altera disappointed by quarterly results; plus more of Wednesday's stocks in the news

ID Biomedical (IDBE ) agreed to be acquired by GlaxoSmithKline (GSK ) for C$35 per share, or about C$1.7 billion (US$1.4 billion).

Electronics for Imaging( EFII ) said it sees better-than-expected 30 cents to 32 cents third quarter earnings per share (pro forma), $0.21 to $0.23 (generally accepted accounting principles), on revenue of $137 million to $139 million. The digital imaging company cited strong performance of its Fiery controller business.

Altera (ALTR ) said it sees 66% to 67% third quarter gross margin as a percentage of sales vs. earlier guidance of 68% to 69%. The logic devices manufacturer said high-margin and low-volume businesses thus far in the quarter have been less than anticipated.

Albertson's (ABS ) posted 29 cents vs. 28 cents second quarter earnings per share on unchanged sales. It reaffirmed guidance of $1.37 to $1.47 earnings per share for fiscal year 2006 from continuing operations.

Pepsi Bottling (PBG ) said it's likely that its third quarter earnings per share will reach the high end of previous 76 cents to $0.78 guidance. It sees $1.82 to $1.88 2005 earnings per share on 3% worldwide volume growth.

Hibernia (HIB ) and Capital One Financial (COF ) renegotiated their acquisition purchase price, which is now valued at about $5 billion, or $30.49 per Hibernia share; the deal represents a reduction of 9% relative to previous terms. The companies cited the impact of Hurricane Katrina.

Bristol-Myers Squibb (BMY ) said that the Food and Drug Administration unanimously recommended approval of ORENCIA, which is being developed for the treatment of rheumatoid arthritis.

Korn/Ferry Intl (KFY ) posted a 27 cents vs. 20 cents first quarter earnings per share estimate on 19% higher fee revenue. The recruiting firm saw $118 million to $124 million in fee revenue during the second quarter, or 22 cent to 27 cent earnings per share.

Alnylam Pharmaceuticals (ALNY ) and Novartis (NVS ) are in an alliance to discover innovative therapeutics. Novartis will make initial payments of $56.8 million to Alnylam, but collective payments could exceed $700 million, not including royalties.

ADTRAN (ADTN ) revised its third quarter forecast to between 38 cent and 40 cent earnings per share on $143 million to $147 million in revenue. For 2005 it sees between $1.18 and $1.22 earnings per share on $503 million to $511 million in revenue. Legg Mason upgraded the network access product maker to buy from hold. S&P reiterated its hold opinion.

Spectrum Brands (SPC ) said it sees lower-than-expected fourth quarter earnings per share (Generally Accepted Accounting Principles) of between 2 cents and 5 cents. The company cut its fiscal year 2006 earnings per share (GAAP) forecast to between $2.20 and $2.35.

Symbol Technologies (SBL ) and UNOVA( UNA ) agreed to settle their RFID (radio frequency identification) intellectual property dispute.

World Wrestling (WWE ) posted 16 cents vs. 11 cents first quarter earnings per share on a 15% revenue rise. The company raised its fiscal year 2006 forecast to between 46 cents and 50 cents in earnings per share from continuing operations on $360 million to $375 million of revenue.

International DisplayWorks (IDWK )posted 3 cent vs. 1 cent third quarter earnings per share on a sharp revenue rise. The liquid crystal display product maker said its revenues were negatively impacted by an inventory issue with its largest customer. International DisplayWorks is expecting fourth quarter revenue of $22.5 million to $25 million. Roth Capital downgraded the company to buy from strong buy.

Macrovision (MVSN ) named James Budge as its executive vice president and chief financial officer, effective immediately. First Albany upgraded the stock to buy from neutral.

Mikohn Gaming (PGIC ) said it agreed to acquire EndX Group, a British gaming software maker, for $27 million.

ADE( ADEX ) posted 20 cent vs. 35 cent first quarter earnings per share on a 14% revenue decline. The semiconductor company sees its second quarter sales in the range of $23 million and $24 million (vs. the first quarter's $24.3 million), and earnings per share of 15 cents to 20 cents.

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