Boeing, Union Reach Pact
Boeing (BA ) confirmed that it has reached a tentative agreement for a new three-year contract with the International Association of Machinists and Aerospace Workers, which represents about 19,000 Boeingemployees.
Wal-Mart Stores (WMT ) has emerged as a new player in the race for Tommy Hilfiger (TOM ), according to WWD.com. Sources said Wal-Mart is believed to have initiated the idea, and soon will start its due diligence analysis on Tommy Hilfiger.
Honeywell (HON ) received a favorable arbitration ruling in its dispute against Sunoco for a breach of supply agreement. The arbitrator awarded Honeywell damages for overcharges totaling $65.5 million. Honeywell maintained its 52 cents to 54 cents third quarter earnings per share guidance.
Reynolds American (RAI ) filed a multi-million dollar lawsuit in US Federal Court alleging that various wholesalers, retailers, and other individuals conspired to defraud the company.
Fairfax Financial Holdings (FFH ) received a further subpoena from the Securities and Exchange Commission as part of its investigation into certain loss mitigation products, requesting documents regarding any transactions in securities of Fairfax Financial.
QLT (QLTI ) said that Paul Hastings stepped down as president and CEO. Robert Butchofsky, senior vice president marketing, sales, was named acting CEO.
Palm (PALM ) announced it will be holding a press conference with Microsoft (MSFT ) and Verizon Wireless (VZ ). S&P said it believes Palm is going to announce a new Treo smartphone based on Microsoft's operating system, and using Verizon's high-speed wireless service.
MSGI Security Solutions (MSGI ) SmartMoney reported that the company is installing its video surveillance system in selected NYC subway stations, but the only problem is, the cops are already putting the system on probation. MSGI noted several misleading items reported in the article.
Baxter International (BAX ) A US District Court judge ruled that Abbott Laboratories' patent related to sevoflurane combined with water was not infringed by Baxter's generic version of sevoflurane.
Royal Caribbean (RCL ) said it's in a deal with Goldman to purchase Royal Caribbean shares for an aggregate purchase price of $250 million in an accelerated share repurchase transaction.
Hologic (HOLX ) set a two-for-one stock split.
Chico's FAS (CHS ) said its September same-store sales are in the mid double digit percent range, with Chico's brand same-store sales in the high single to low double digit percent range.
Walgreen (WAG ) posted 32 cents vs. 32 cents fourth quarter earnings per share on 11% higher sales. The company noted that its fourth quarter earnings per share were unchanged due in part to a $54.7 million pre-tax charge for expenses associated with Hurricane Katrina.
In response to Shurgard Storage Centers' (SHU ) rejected acquisition proposal by Public Storage (PSA ), Public Storage says it is willing to consider alternative forms of consideration, such as transaction structures.
ENGlobal(ENG ) said at least two of its buildings sustained wind damage from Hurricane Rita that will impact its operations. The company sees financial impact primarily related to the loss of billing revenue and anticipated gross profits.
Ameron International (AMN )posted $1.58 third quarter earnings per share vs. a $1.05 loss on a 24% sales rise.
Conn's (CONN ) said its facilities in the path of Hurricane Rita sustained minimal damage. The company noted that fifty of its fifty-five stores were operational as of Sunday.