<TABLE cellSpacing=0 cellPadding=2 width="100%" bgColor=white border=0 xmlns:msxsl="urn:schemas-microsoft-com:xslt" xmlns:js="http://cbs.markewatch.com/xsl"><TBODY><TR><TD width="100%">Akamai Technologies Inc. (AKAM: news, chart, profile) said Paul Sagan has become the content-acceleration company's chief executive. Sagan, who's been serving as Akamai's president after joining the company as chief operating officer in 1998, takes over as CEO from George Conrades, who will become executive chairman. Sagan's assumption of the CEO's post was laid out in a succession plan adopted by the company's board in January. Shares of Akamai lost 22 cents, or 1.7 percent, to end Friday's trading at $12.51.
AIG (AIG: news, chart, profile) shares rose in pre-market after the Dow component received upgrades from Smith Barney and Morgan Stanley after issuing a letter to shareholders late Sunday. The letter came from Martin Sullivan, the company's CEO and president, and it said the insurance giant recently became aware of efforts to remove documents and information from its Bermuda building without its permission. Sullivan said it immediately told "relevant" authorities about these efforts and that AIG is cooperating with the New York Attorney General and the Securities and Exchange Commission with regard to document security in New York, Bermuda, Ireland, and other locations.
Cognos Inc. (COGN: news, chart, profile) posted increased license sales and growth in million-dollar contracts. The Ottawa producer of business software also was upgraded to "buy" at UBS. The shares rose $1.34, or 3.2%, to $43.12.
Comcast Corp. (CMCSA: news, chart, profile) (CMCSK: news, chart, profile) and Motorola Inc. (MOT: news, chart, profile) said they completed two joint ventures. Shares of Comcast, the Philadelphia operator of broadband networks, fell 39 cents, or 1.2 percent, Friday to $33.39. Motorola, the Schaumburg, Ill., communications and electronics group, fell 8 cents, or 0.5 percent, to $14.89.
Commerce Bancorp (CBH: news, chart, profile) was downgraded to market perform from outperform at Piper Jaffray due to concerns that continued interest rate increases would make the company more sensitive to higher deposit funding costs. Analyst Andrew Collins trimmed his stock price target to $34 from $35. The banking services company's stock closed Friday down 76 cents at $31.71.
Diamond Offshore Drilling (DO: news, chart, profile) said it has an agreement to buy a rig and related equipment from Newfield Exploration Gulf Coast for $20 million. Closing on the purchase is expected to take place in September 2005.
General Dynamics (GD: news, chart, profile) acquired closely held Maya Viz Ltd., a Pittsburgh collaboration-technologies company. General Dynamics, the Falls Church, Va., defense and aerospace company, did not disclose terms. Its shares closed up 80 cents, or 0.8%, at $107.85.
HIT Entertainment (HIEMF: news, chart, profile) may be the subject of a more than $1 billion bid from Lions Gate Entertainment, (LGF: news, chart, profile) the North Vancouver, British Columbia, film developer and distributor, the New York Times reported. HIT has already agreed to be acquired by private equity firm Apax Partners for $921 million. HIT shares rose 3 cents, or 0.5 percent, Friday to $5.66, while Lions Gate shares added 15 cents, or $1.36, to $11.20.
Immune Response Corp., (IMNR: news, chart, profile) , the Carlsbad, Calif., developer of immune-based therapies, said its independent auditor, Levitz, Zacks & Ciceric, included a "going concern" line in its 2004 Form 10-K. The company's shares rose 4 cents, or 5.1 percent, to 82 cents on Friday.
Isonics (ISON: news, chart, profile) agreed to acquire the 94% it doesn't own of Institut fur Umwelttechnologien-Berlin, its German partner in developing explosives-detection equipment, for about $1.4 million in cash and stock. Shares of the Golden, Colo., developer of isotope-based products applicable in the energy, medical research, diagnostic, pharmaceutical and semiconductor industries closed unchanged at $2.46 Friday.
Joseph A. Bank Clothiers Ltd. (JOSB: news, chart, profile) reported fourth-quarter earnings of $12.6 million, or 88 cents per share, up from $9.6 million, or 68 cents, earned in the same period a year earlier. Sales for the three months ended Jan. 29 reached $127.9 million from the prior year's $100.9 million, with comparable-store sales rising 9.4%. Analysts, on average, had been looking for earnings of 84 cents per share on sales of $124 million, according to estimates compiled by Thomson First Call. The year-earlier results have been restated to reflect accounting issues raised over operating leases, the company said. For the current fiscal year, Joseph A. Bank expects to earn "at least" $2.00 to $2.05 per share, up from the $1.72 per share that that retailer posted in the just-completed year. Shares of Joseph A. Bank added 41 cents, or 1.4%, to end Friday's trading at $29.71.
Knight Trading (NITE: news, chart, profile) agreed to buy Direct Trading Institutional, a privately held firm specializing in providing institutions with direct access trading through an advanced electronic platform. No financial terms were released. The company also said that it has restructured its equity markets business into three primary groups - broker-dealer, electronic services and institutional - to help the company operate more strategically and efficiently. The broker-dealer group will be headed by Mony Rueven, electronic services will be headed by Derek N. Stein, and Gregory C. Voetsch will lead the institutional group, Knight Trading said.
Morgan Stanley (MWD: news, chart, profile) may be in focus after U.K. newspaper The Independent said HSBC was considering making a bid worth $75 billion to acquire the company. HSBC had no comment on the report. Also, a group of Morgan Stanley shareholders and former senior executives of the company sent a letter to shareholders, saying leadership problems at the firm "must be addressed and resolved."
Navarre Corp. (NAVR: news, chart, profile) said it amended its March 14 agreement to buy the remaining 20% interest of its Encore Software Inc. subsidiary. As a result of this transaction, between Navarre and Michael Bell, Encore's president and chief executive, Navarre now owns 100% of Encore. Shares of the New Hope, Minn., publisher and distributor of home entertainment and multimedia products fell 36 cents, or 4.5 percent, to $7.59 on Friday.
Penn Virginia Resource Partners (PVR: news, chart, profile) said it purchased the lease rights to about 36 million tons of undeveloped coal reserves and royalty interests in 73 producing oil and natural gas wells for $9.3 million. The company's shares rose $1.33, or 2.6%, to $51.88 on Friday.
Petrohawk Energy Corp. (HAWK: news, chart, profile) agreed to buy Mission Resources Corp. (MSSN: news, chart, profile) for 19.2 million shares, $135 million in cash and the assumption of debt. Based on the closing prices of Petrohawk and Mission on April 1, the acquisition price represents a premium to Mission stockholders of approximately 19%. Petrohawk said it believes the deal will immediately boost cash flow.
Precis Inc. (PCIS: news, chart, profile) requested a filing extension with the Securities and Exchange Commission regarding its 2004 Form 10-K. The Grand Prairie, Texas, operator of membership-service programs said it has been delayed in completing its 2004 financial statements. The company's shares fell a penny to $1.69 Friday.
Qwest (Q: news, chart, profile) said it's provided "signed financing commitments" to MCI's advisers. The board of the long-distance carrier, which has accepted a $7.5 billion offer from Verizon Communications (VZ: news, chart, profile) , invited Qwest to reopen acquisition talks on Friday, ahead of the April 5 deadline set by Qwest. Qwest said in its Monday statement that MCI "has not agreed" to sign its latest sweetened takeover offer but that "this revised agreement clearly reflects what we believe to be a superior proposal." Shares of MCI added 39 cents, or 1.6%, to $25.29 in Friday's dealings, while Qwest slipped 6 cents, or 1.6%, to $3.64 and Verizon dropped 31 cents to $35.19.
Sonus Pharmaceuticals Inc. (SNUS: news, chart, profile) filed a $50 million shelf registration statement with the Securities and Exchange Commission. Shares of the Bothell, Wash., drug developer fell 8 cents, or 3 percent, to $2.56 on Friday.
Stratasys Inc. (SSYS: news, chart, profile) , the Minneapolis manufacturer of office-based rapid prototyping systems and 3D printers, said it named Tom Stenoien chief operating officer and Robert Gallagher chief financial officer. Stenoien had been executive vice president and CFO; Gallagher succeeds him as CFO. Scott Crump continues as chairman, president and chief executive officer. Stratasys shares fell 8 cents, or 0.3 percent, to $28.25 on Friday.
Transmeta Corp. (TMTA: news, chart, profile) reported new leadership, job cuts, and a multiyear deal with Sony Corp. (SNE: news, chart, profile) See full story. Shares of the Santa Clara, Calif., maker of low-power computer chips gained nearly 8% to $1 on Friday.
Weider Nutrition International (WNI: news, chart, profile) said third-quarter net income fell to $1.2 million, or 5 cents a share, from $2.6 million, or 10 cents a share, in the year-earlier quarter. Sales for the period declined slightly to $65.6 million from $67.5 million a year ago. The company attributed the modest decrease in sales to a drop in domestic private label sales and weakness in its Haleko business unit's Multipower and Multaben brands. Looking ahead, the provider of vitamins and other nutrition products said it expects higher raw material costs, significant marketing support behind Lubriflex3 and the continued challenging competitive environment in Germany to continue.
Wyeth (WYE: news, chart, profile) said a Philadelphia jury split its verdict in a diet drug trial. In the cases of Patricia Conlon, the jury found in favor of the company. The jury found in favor of the three remaining plaintiffs: Evon Perez, Cynthia Hutchinson and Vicki Morrill. The plaintiffs alleged heart-valve injury from use of Pondimin, a diet drug Wyeth once marketed, the company said. Shares of the Madison, N.J., drugmaker fell 49 cents, or 1.2 percent, to $41.69.
Xybernaut Corp. (XYBR: news, chart, profile) said late Thursday that it would delay for a second time filing its annual report with the Securities and Exchange Commission because of a continuing internal investigation. See full story. Shares of the Fairfax, Va., maker of wearable computers lost 43% in Friday trading, closing at 24 cents.
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Michael Baron is a reporter for MarketWatch in New York.
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AIG (AIG: news, chart, profile) shares rose in pre-market after the Dow component received upgrades from Smith Barney and Morgan Stanley after issuing a letter to shareholders late Sunday. The letter came from Martin Sullivan, the company's CEO and president, and it said the insurance giant recently became aware of efforts to remove documents and information from its Bermuda building without its permission. Sullivan said it immediately told "relevant" authorities about these efforts and that AIG is cooperating with the New York Attorney General and the Securities and Exchange Commission with regard to document security in New York, Bermuda, Ireland, and other locations.
Cognos Inc. (COGN: news, chart, profile) posted increased license sales and growth in million-dollar contracts. The Ottawa producer of business software also was upgraded to "buy" at UBS. The shares rose $1.34, or 3.2%, to $43.12.
Comcast Corp. (CMCSA: news, chart, profile) (CMCSK: news, chart, profile) and Motorola Inc. (MOT: news, chart, profile) said they completed two joint ventures. Shares of Comcast, the Philadelphia operator of broadband networks, fell 39 cents, or 1.2 percent, Friday to $33.39. Motorola, the Schaumburg, Ill., communications and electronics group, fell 8 cents, or 0.5 percent, to $14.89.
Commerce Bancorp (CBH: news, chart, profile) was downgraded to market perform from outperform at Piper Jaffray due to concerns that continued interest rate increases would make the company more sensitive to higher deposit funding costs. Analyst Andrew Collins trimmed his stock price target to $34 from $35. The banking services company's stock closed Friday down 76 cents at $31.71.
Diamond Offshore Drilling (DO: news, chart, profile) said it has an agreement to buy a rig and related equipment from Newfield Exploration Gulf Coast for $20 million. Closing on the purchase is expected to take place in September 2005.
General Dynamics (GD: news, chart, profile) acquired closely held Maya Viz Ltd., a Pittsburgh collaboration-technologies company. General Dynamics, the Falls Church, Va., defense and aerospace company, did not disclose terms. Its shares closed up 80 cents, or 0.8%, at $107.85.
HIT Entertainment (HIEMF: news, chart, profile) may be the subject of a more than $1 billion bid from Lions Gate Entertainment, (LGF: news, chart, profile) the North Vancouver, British Columbia, film developer and distributor, the New York Times reported. HIT has already agreed to be acquired by private equity firm Apax Partners for $921 million. HIT shares rose 3 cents, or 0.5 percent, Friday to $5.66, while Lions Gate shares added 15 cents, or $1.36, to $11.20.
Immune Response Corp., (IMNR: news, chart, profile) , the Carlsbad, Calif., developer of immune-based therapies, said its independent auditor, Levitz, Zacks & Ciceric, included a "going concern" line in its 2004 Form 10-K. The company's shares rose 4 cents, or 5.1 percent, to 82 cents on Friday.
Isonics (ISON: news, chart, profile) agreed to acquire the 94% it doesn't own of Institut fur Umwelttechnologien-Berlin, its German partner in developing explosives-detection equipment, for about $1.4 million in cash and stock. Shares of the Golden, Colo., developer of isotope-based products applicable in the energy, medical research, diagnostic, pharmaceutical and semiconductor industries closed unchanged at $2.46 Friday.
Joseph A. Bank Clothiers Ltd. (JOSB: news, chart, profile) reported fourth-quarter earnings of $12.6 million, or 88 cents per share, up from $9.6 million, or 68 cents, earned in the same period a year earlier. Sales for the three months ended Jan. 29 reached $127.9 million from the prior year's $100.9 million, with comparable-store sales rising 9.4%. Analysts, on average, had been looking for earnings of 84 cents per share on sales of $124 million, according to estimates compiled by Thomson First Call. The year-earlier results have been restated to reflect accounting issues raised over operating leases, the company said. For the current fiscal year, Joseph A. Bank expects to earn "at least" $2.00 to $2.05 per share, up from the $1.72 per share that that retailer posted in the just-completed year. Shares of Joseph A. Bank added 41 cents, or 1.4%, to end Friday's trading at $29.71.
Knight Trading (NITE: news, chart, profile) agreed to buy Direct Trading Institutional, a privately held firm specializing in providing institutions with direct access trading through an advanced electronic platform. No financial terms were released. The company also said that it has restructured its equity markets business into three primary groups - broker-dealer, electronic services and institutional - to help the company operate more strategically and efficiently. The broker-dealer group will be headed by Mony Rueven, electronic services will be headed by Derek N. Stein, and Gregory C. Voetsch will lead the institutional group, Knight Trading said.
Morgan Stanley (MWD: news, chart, profile) may be in focus after U.K. newspaper The Independent said HSBC was considering making a bid worth $75 billion to acquire the company. HSBC had no comment on the report. Also, a group of Morgan Stanley shareholders and former senior executives of the company sent a letter to shareholders, saying leadership problems at the firm "must be addressed and resolved."
Navarre Corp. (NAVR: news, chart, profile) said it amended its March 14 agreement to buy the remaining 20% interest of its Encore Software Inc. subsidiary. As a result of this transaction, between Navarre and Michael Bell, Encore's president and chief executive, Navarre now owns 100% of Encore. Shares of the New Hope, Minn., publisher and distributor of home entertainment and multimedia products fell 36 cents, or 4.5 percent, to $7.59 on Friday.
Penn Virginia Resource Partners (PVR: news, chart, profile) said it purchased the lease rights to about 36 million tons of undeveloped coal reserves and royalty interests in 73 producing oil and natural gas wells for $9.3 million. The company's shares rose $1.33, or 2.6%, to $51.88 on Friday.
Petrohawk Energy Corp. (HAWK: news, chart, profile) agreed to buy Mission Resources Corp. (MSSN: news, chart, profile) for 19.2 million shares, $135 million in cash and the assumption of debt. Based on the closing prices of Petrohawk and Mission on April 1, the acquisition price represents a premium to Mission stockholders of approximately 19%. Petrohawk said it believes the deal will immediately boost cash flow.
Precis Inc. (PCIS: news, chart, profile) requested a filing extension with the Securities and Exchange Commission regarding its 2004 Form 10-K. The Grand Prairie, Texas, operator of membership-service programs said it has been delayed in completing its 2004 financial statements. The company's shares fell a penny to $1.69 Friday.
Qwest (Q: news, chart, profile) said it's provided "signed financing commitments" to MCI's advisers. The board of the long-distance carrier, which has accepted a $7.5 billion offer from Verizon Communications (VZ: news, chart, profile) , invited Qwest to reopen acquisition talks on Friday, ahead of the April 5 deadline set by Qwest. Qwest said in its Monday statement that MCI "has not agreed" to sign its latest sweetened takeover offer but that "this revised agreement clearly reflects what we believe to be a superior proposal." Shares of MCI added 39 cents, or 1.6%, to $25.29 in Friday's dealings, while Qwest slipped 6 cents, or 1.6%, to $3.64 and Verizon dropped 31 cents to $35.19.
Sonus Pharmaceuticals Inc. (SNUS: news, chart, profile) filed a $50 million shelf registration statement with the Securities and Exchange Commission. Shares of the Bothell, Wash., drug developer fell 8 cents, or 3 percent, to $2.56 on Friday.
Stratasys Inc. (SSYS: news, chart, profile) , the Minneapolis manufacturer of office-based rapid prototyping systems and 3D printers, said it named Tom Stenoien chief operating officer and Robert Gallagher chief financial officer. Stenoien had been executive vice president and CFO; Gallagher succeeds him as CFO. Scott Crump continues as chairman, president and chief executive officer. Stratasys shares fell 8 cents, or 0.3 percent, to $28.25 on Friday.
Transmeta Corp. (TMTA: news, chart, profile) reported new leadership, job cuts, and a multiyear deal with Sony Corp. (SNE: news, chart, profile) See full story. Shares of the Santa Clara, Calif., maker of low-power computer chips gained nearly 8% to $1 on Friday.
Weider Nutrition International (WNI: news, chart, profile) said third-quarter net income fell to $1.2 million, or 5 cents a share, from $2.6 million, or 10 cents a share, in the year-earlier quarter. Sales for the period declined slightly to $65.6 million from $67.5 million a year ago. The company attributed the modest decrease in sales to a drop in domestic private label sales and weakness in its Haleko business unit's Multipower and Multaben brands. Looking ahead, the provider of vitamins and other nutrition products said it expects higher raw material costs, significant marketing support behind Lubriflex3 and the continued challenging competitive environment in Germany to continue.
Wyeth (WYE: news, chart, profile) said a Philadelphia jury split its verdict in a diet drug trial. In the cases of Patricia Conlon, the jury found in favor of the company. The jury found in favor of the three remaining plaintiffs: Evon Perez, Cynthia Hutchinson and Vicki Morrill. The plaintiffs alleged heart-valve injury from use of Pondimin, a diet drug Wyeth once marketed, the company said. Shares of the Madison, N.J., drugmaker fell 49 cents, or 1.2 percent, to $41.69.
Xybernaut Corp. (XYBR: news, chart, profile) said late Thursday that it would delay for a second time filing its annual report with the Securities and Exchange Commission because of a continuing internal investigation. See full story. Shares of the Fairfax, Va., maker of wearable computers lost 43% in Friday trading, closing at 24 cents.
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Michael Baron is a reporter for MarketWatch in New York.
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