Freescale Climbs on Deal Talks
Freescale Semiconductor (FSL.B) shares rose Monday after the company said it is in talks with parties relating to a possible business transaction. It says it will not comment further on these discussions unless and until it is appropriate to do so.
Dell (DELL) delayed its 10-Q for the quarter ended 8/4/06 due to questions raised from the SEC's informal investigation into its accounting and financial reporting matters, as well as Dell's independent investigation. It suspends buybacks and postpones a 9/13 analyst meeting.
Genentech (DNA) shares fell after the company received a response letter from the FDA for Avastin, whereby the FDA requests significant safety and efficacy update from positive PHIII ECOG-2100 trial. RBC Capital keeps outperform.
Hewlett-Packard's (HPQ) board met for several hours Sunday morning, reportedly to discuss chairwoman Patricia Dunn; it is to reconvene late Monday afternoon.
IPSCO (IPS) is to acquire NS GRP, a manufacturer of seamless and welded oilfield tubular goods.
Scottish Re Group (SCT) As part of an auction process currently underway, the company says it received proposals from a number of potential bidders. Proposals will be reviewed by management and the board.
A jury found that Abbott Laboratories (ABT) willfully infringed on an Innogenetics patent for method of genotyping hep. C virus. Abbott is to pay Innogenetics an initial $7 million, but the amount could be increased by up to 3 times.
First Data (FDC) sets a record date of 9/22/06 for its proposed tax-free spin-off of Western Union. The board declares a dividend of one share of Western Union for each First Data share held.
ADVO (AD) files answer and counterclaims in response to a complaint filed last week by Valassis Communications (VCI), seeking, among other things, court declaration that Valassis has no right to rescind a merger deal between the two companies.