Movers: CME, CBOT, Goldman, Bear Stearns, Sanofi
Chicago Mercantile (CME)
The company and CBOT Holdings (BOT) announce that CME sweetened its bid for BOT by adding special dividend for BOT holders... All BOT shareholders will receive a one-time, $9.14-per-share cash dividend, or total of $485 million. The move comes one day after a similar proposale form IntercontinentalExchange (ICE).
Target Corp. TGT
Raises quarterly dividend 17% to $0.14... Raises current $5B stock buyback authorization by $3B, for total authorization of $8B.
Goldman Sachs Group (GS)
Posts $4.93 vs. $4.78 Q2 EPS despite slightly lower total net revenues... Notes Q2 net revenues in investment banking rose 13% y/y.
Bear Stearns Cos. (BSC)
Posts $2.52 vs. $3.72 Q2 EPS despite flat rev... Notes Q2 FY 07 includes effect of $227M ($0.88/share) non-cash charge from write-down of intangible assets, representing goodwill, specialist rights of Bear Wagner.
Sanofi-Aventis ADS (SNY)
Says FDA Endocrinologic and Metabolic Drugs Advisory Committee did not recommend approval of rimonabant for use in obese, overweight patients with associated risks factors.
Federal Home Loan (FRE)
Posts $0.46 Q1 loss vs. $2.80 EPS last year... Also reports decline in fair value of net assets attributable to shareholders before capital transactions, of about $300M in Q1... Cites losses on mark-to-market items.
Computer Sciences (CSC)
Posts $1.44 vs. $0.87 Q4 GAAP EPS from cont. ops on 4% rev. rise... Sees 6%-7% FY 08 rev. rise, excl. Covansys acquisition impact, $4.00-$4.20 EPS, excl. special items... Sees $3.7B-$3.8B Q1 rev., $0.65-$0.75 EPS.
Watson Pharmaceutical (WPI)
Receives final FDA approval on its Abbreviated New Drug Application (ANDA) for bupropion hydrochloride extended-release tablets, 300 mg, the generic equivalent to GSK's anti-depressant Wellbutrin XL.
Human Genome Sci (HGSI)
Reports Phase 2 study of LymphoStat-B showed significant reductions in disease activity in patients with active systemic lupus erythematosus.
Monaco Coach (MNC)
To consolidate production of Holiday Rambler, McKenzie fifth-wheel, travel trailer RVs from Elkhart, IN to Wakarusa, Warsaw, IN facilities... Sees $1.0M-$1.2M in charges; sees changes adding $0.10-$0.12 to EPS next FY.
Warns that counterfeit toothpaste falsely packaged as "Colgate" has been found in several dollar-type discount stores in four states: NY, NJ, PA, MD.
Arqule Inc (ARQL)
Prices 7M share offering at $7.75 per share.
Citrix Systems (CTXS)
As result of voluntary review, CTXS says it intends to restate its previously issued financial statements for '04, '05, for interim quarterly periods for '05, '06.
Invesco PLC ADS (IVZ)
Sets $500M stock buyback.