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Blockbuster (BBI: news, chart, profile) reported fourth-quarter net income of $900,000, or breakeven per share, up from a loss of $1.2 billion, or $6.57 per share, in the year-ago period. On an adjusted basis, net income in the latest quarter would have been $12.3 million, or 7 cents per share. The company was expected to earn 4 cents per share, according to a survey of analysts by Thomson First Call. Revenue rose 6.3 percent to $1.72 billion. Blockbuster also extended its offer for Hollywood Entertainment (HLYW: news, chart, profile) to March 24. Shares of the Dallas-based video rental retailer rose 10 cents to $8.72 on Tuesday.
Cablevision Systems (CVC: news, chart, profile) said it reached a deal with its founder Charles Dolan to keep the Voom satellite business going at least for the rest of this month. See full story.

Chinadotcom Corp. (CHINA: news, chart, profile) said its loss widened in the fourth quarter from the previous quarter, and announced the resignation of its chief executive. Net loss widened to $8 million, or 7.2 cents a share, from $6.2 million, or 5.8 cents per share in the third quarter of 2004. Revenue rose to $54.2 million from $48 million in the third quarter. The company also said founding CEO Peter Yip, who has been on an extended leave of absence, has resigned and will be replaced by Executive Chairman Raymond Ch'ien. Yip will remain on the board as vice chairman.

Comcast Corp. (CMCSA: news, chart, profile) (CMCSK: news, chart, profile) and Motorola Inc. (MOT: news, chart, profile) finalized a $1 billion agreement, the largest set-top box purchase in Comcast's history. See full story.

Cost Plus, Inc. (CPWM: news, chart, profile) said Chief Executive Murray Dashe has stepped down, with plans to retire. Director Danny Gurr was named president and chief operating officer while the board searches for a new CEO. In addition, director Frederic Roberts was named non-executive chairman. Cost Plus said it will take a pre-tax charge of $2.3 million in the first quarter associated with the costs of Dashe's departure.

Crompton Corp. (CK: news, chart, profile) has agreed to buy Great Lakes Chemical Corp. (GLK: news, chart, profile) in a stock-based deal valued at $1.8 billion. Terms set Great Lakes shareholders to receive 2.2232 shares of Crompton for each share of Great Lakes they hold, a 10.1% premium to the Tuesday close. Combined, the companies had 2004 revenues of more than $4.1 billion. The deal price includes $250 million of Great Lakes net debt and minority interest. The new company will be owned 51 percent by Crompton shareholders.

Geac Computer Corp. (GEAC: news, chart, profile) (CA:GAC: news, chart, profile) said third-quarter earnings rose 116 percent to $29.7 million, or 34 cents a share, from $13.8 million, or 16 cents a share, a year ago. Revenue was $113.9 million vs. $116.2 million.

Hughes Supply Inc. (HUG: news, chart, profile) said its fourth-quarter profit more than doubled as its sales topped $1 billion on higher construction- and manufacturing-driven demand. See full story.

Hutchison Telecom (HTX: news, chart, profile) agreed to pay $120 million in cash to acquire a 60 percent equity stake in Indonesia's PT Cyber Access Communications. The deal is expected to be completed in May 2005. The Hong Kong telecommunications services company's stock closed Tuesday down 63 cents at $15.41.

International Securities Exchange's (ISE: news, chart, profile) initial public offering of 10 million shares priced at $18 a share, raising $180 million. The pricing came in at the top end of the expected $16 to $18 range. The New York-based company is due to begin trading Wednesday on the New York Stock Exchange.

Kerr-McGee (KMG: news, chart, profile) said its board approved the repurchase of $1 billion of its common stock. It also said the board rejected the Icahn Group's proposal because it was not in the best interest of its shareholders. See full story.

Lions Gate Entertainment (LGF: news, chart, profile) plans to release several video games based on its movies for Sony's (SNE: news, chart, profile) PlayStation Portable handheld device. See full story.

NPS Pharmaceuticals (NPSP: news, chart, profile) was downgraded to "neutral weight" by Prudential due to a delay in the European regulatory submission of anabolic agent Preos.

Oracle Corp. (ORCL: news, chart, profile) said it plans make a cash offer for Retek Inc. (RETK: news, chart, profile) , raising the stakes and setting the stage for a potential battle with Germany's SAP AG (SAP: news, chart, profile) , which two weeks ago agreed to acquire Retek.

Owens Corning (OWENQ: news, chart, profile) reported fourth-quarter earnings of $72 million, up 67 percent from $43 million a year ago. The bankrupt company said income from operations was $146 million. Revenue was $1.48 billion vs. $1.28 billion.

Retailix (RTLX: news, chart, profile) was upgraded to "outperform" by Piper Jaffray on expectations of future revenue growth.

Tanox Inc. (TNOX: news, chart, profile) reported a fourth-quarter net loss of $3.84 million, or 9 cents per share, wider than the prior year's loss of $2.85 million, or 7 cents per share. The biotechnology company's quarterly revenue reached $5.59 million from $2.81 million, primarily reflecting Xolair royalties. Analysts, on average, had been looking for Tanox to post a loss of 7 cents on revenue of $6 million, according to estimates compiled by Thomson First Call. Spending on research and development climbed to $8.5 million in the latest quarter from $5.3 million a year earlier. The company's Dec. 31 cash and investments totaled $202.5 million, down from $227.4 million at the end of 2003. Shares of Tanox lost a penny to end Tuesday's trading at $10.95.

Tempur Pedic International lifted its 2005 earnings outlook to $1.08 a share compared to a previous estimate of earnings in the range of $1 to $1.05 a share. Analysts polled by Thomson First Call expect EPS of $1.04. The distributor of Swedish mattresses and neck pillows said it now sees 2005 sales of $880 million from a previous forecast of sales in the range of $830 million to $850 million.

Tessco Technologies Inc. (TESS: news, chart, profile) said it was selected to provide Nokia's (NOK: news, chart, profile) repair parts in the Americas. Financial terms weren't disclosed.

The Talbots, Inc. (TLB: news, chart, profile) said fourth-quarter earnings, on a preliminary basis because it's reviewing accounting for leases, fell to $16 million, or 29 cents a diluted share, from $22 million, or 38 percent, while sales rose 11 percent to $470.7 million, or a 4.4 percent comparable stores sales growth. The earnings decline was in line with broker forecasts, and the retailer said it was helped by "robust markdown selling throughout our very successful post-Christmas semi-annual clearance event." Looking ahead, it sees a "modest" rise in EPS and the opening of approximately 50 new stores.

SeaChange International (SEAC: news, chart, profile) reported it swung to a fourth-quarter loss on lower-than-expected shipments of video-on-demand systems. See full story.

WebMD Corp. (HLTH: news, chart, profile) posted an 87 percent rise in fourth-quarter earnings and increased its first-quarter profit outlook. See full story.

Wendy's International (WEN: news, chart, profile) said February U.S. company same-store sales fell 2.4 percent from year-earlier levels. U.S. franchise sales fell 0.7 percent to 0.9 percent, Tim Hortons U.S. sales increased 8.1 to 8.5 percent and Tim Hortons Canada sales grew 6.2 to 6.6 percent. The stock closed Tuesday up 34 cents at $39.70.

Willis Group (WSH: news, chart, profile) received subpoenas from 19 states and the District of Columbia as part of investigations into conflicts of interest in the insurance industry. See full story.

Xilinx Inc. (XLNX: news, chart, profile) reported fourth-quarter sales will be 5 to 8 percent higher than the prior quarter, up from previous guidance of 1 percent to 5 percent growth. See full story.
 

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