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Piper Jaffray Is Raising Microsoft Corp. (MSFT) 2005 Rev. Estimate To $43.8  Billion From $43.1  Billion

PRAECIS PHARMACEUTICALS INC. (PRCS) reported its fourth quarter net loss of about $13.42 million or $0.26 per share, compared to a loss of $16.05 million or $0.31 per share in the same quarter last year. Analysts expected a loss of $.27 per share.

The company said it generated revenues for the quarter of about $780 thousand, while there were no revenues in the corresponding period last year.

Canon Inc. (CAJ) reported fourth-quarter net income of $777 million, 7.8% higher than fourth quarter 2003 with revenue of $9,434 million, 9.6% higher than the same quarter last year.

For the full year, the company posted net income of $3,301 million, which represents a year-over-year increase of 24.5% and $ 3.73 per basic share. Net sales for the year was of $33,345 million, which represents a year-over-year increase of 8.4% over fiscal year 2003.

First Albany Corp. Is Raising Bausch & Lomb (BOL) 2006 Estimate To 4.03 From 4.00

USF Corp. (USFC) reported income from continuing operations for the fourth quarter of $6.6 million or $0.23 per share, compared to $18.7 million or $0.68 per share in the same period last year. Analysts expected earnings of $0.59 per share.

The current fourth quarter included costs and operating losses of $0.25 per share. The fourth quarter of previous year included gain of $0.21 per share.

Revenue for the fourth quarter was $584 million, compared to $547 million reported last year.

The company expects income from continuing operations for fiscal 2005, excluding the effects of USF Red Star, in the range of $2.45 to $2.65 per share. Analysts expect earnings of $2.60.

Peoples Energy Corp. (PGL) reported first quarter ongoing net income of $29.2 million, or $0.77 per share, compared to $31.4 million, or $0.85 per share, in the year-ago period. Ongoing net income (non-GAAP) is defined as GAAP net income adjusted to exclude the effects of the restructuring-related pension charge. Five Analysts polled by First Call/Thomson Financial expected the company to post earnings of $0.83 per share for the quarter.

Revenues for the first quarter increased to $737.41 million from $604.88 million in the same period last year.

Peoples Energy stated that earnings for the full year would likely be at the low end of the range of $2.75 to $2.90 per share that the company projected earlier.

AGL Resources (ATG) Reports FY 2004 EPS of $2.28 Vs. $2.01 Last Year.

Early Friday, Tribune Company (TRB), a media and entertainment company, reported fourth quarter earnings that declined from last year, despite higher revenues.  The company's earnings before special items also missed Wall Street's expectations by 9 cents.

The company posted earnings, excluding items, of $0.61 as compared to earnings, excluding items, of $0.66 per share in the same quarter last year.  On average, 18 analysts polled by First Call/Thomson Financial expected earnings of $0.70 per share for the fourth quarter.

The Chicago, Illinois-based Tribune noted that its current quarter earnings includes non-operating items of $17.93 million or $0.06 per share, after-tax, as compared to $114.2 million or $0.34 per share in the same period a year-ago.

Including the above special items, Tribune reported net income of $216.8 million or $0.67 per share, compared to net income of $338.4 million or $1.00 per share in the comparable quarter prior year.

Operating revenues for the quarter increased slightly to $1.48 billion from $1.46 billion in the corresponding quarter last year. Nine analysts had consensus revenue estimate of $1.50 billion for the fourth quarter.

In the fourth quarter, Tribune incurred a charge of $24 million for the elimination of approximately 230 positions in its Publishing segment. Broadcasting and entertainment's operating revenues remained essentially flat at $385 million as compared to $386 million in 2003.

For the fourth quarter, net interest expense decreased to $35 million, down 26% from $47 million in the fourth quarter of 2003. The decreases were primarily due to the retirement of higher interest rate debt, which was replaced with commercial paper in the second quarter of 2004, the company said.

For the full year, the company posted earnings, excluding items, of $1.95 per share, lower than $2.09 per share in the same period last year.  On average,19 analysts expected full year earnings of $2.23 per share.

The company's earnings includes non-operating items, after-tax, of $90.31 million or $0.28per share, compared to $172.6 million or $0.52 per share last year.

Including the above special items, the company reported net income of $555.5 million or $1.67 per share, compared to $891.3 million or $2.61 per share in the same period last year.   

Operating revenues for the period rose to $5.72 billion from $5.59 billion in the comparable period prior year. Thirteen analysts had consensus revenue estimate of $5.74 billion for the full year.

TRB closed Thursday's regular trading session at $39.01, down 14 cents.

Halliburton (HAL) Reports Q4 EPS From Continuing Ops Of $0.41 Vs. $0.34 Last Year.

First Albany Corp. Ups MicroStrategy Inc. (MSTR) To Strong Buy From Buy With $99 Up From $75 Price Target

The Futures are currently trading in the green before the bell on Friday. The S&P Futures are higher by 1.50 points, the Dow Futures are up 2 points and the Nasdaq Futures are higher by 6 points.

MAF Bancorp (MAFB) Announces 1.2 Mln. Stock Repurchase Plan

Woodhead Industries (WDHD) Reports Q1 EPS of $0.10 Vs. $0.17 Last Year.

Triumph Group (TGI) Reports Q3 EPS of $0.25 Vs. $0.17 Last Year.

Lancaster Colony (LANC) Reports Q2 EPS Of $1.08 Vs. $0.74 Last Year.

Halliburton Co. (HAL) reported fourth quarter income from continuing operations of $183 million, or $0.41 per share, compared to $146 million or $0.34 per share in the same quarter last year. Analysts polled by First Call/Thomson Financial expected the company to earn $0.48 per share for the quarter.

Quarterly revenues recorded by the company declined 5% to $5.2 billion from $5.5 billion in the year-ago quarter. WallStreet analysts had revenue consensus of $4.73 billion for the quarter.

Friday before the bell, biotechnology company Neurobiological Technologies Inc. (NTII) announced the fast-track status granted by the U.S. Food and Drug Administration to Viprinex for its intended use in patients suffering from ischemic stroke.

The company said that Viprinex, an investigational drug, is under development for decreasing disability in patients with acute non-hemorrhagic stroke, when treated within 6 hours of symptoms.

Viprinex was earlier studied in approximately 2,000 patients in various clinical studies in the U.S. and Europe, Neurobiological Technologies noted.

The fast-track designation provides for expedited regulatory review for new drug candidates demonstrating the potential to address unmet medical needs for the treatment of serious or life-threatening conditions.

NTII closed Thursday's regular trading session at $3.80.

Friday, First Albany downgraded shares of Guidant Corp. (GDT) to Neutral from Buy, given the company's pending merger with Johnson & Johnson, Inc. (JNJ). The brokerage indicated that the company would merge with Johnson & Johnson for $76 per share or $25.4 billion, with the closure of the deal expected by the third quarter of 2005.

Analyst Jason Mills noted that the company's 2004 sales at $968.2 million exceeded his estimate of $949.4 million. With regard to the specific products, the analyst noted that high power CRM came in-line with expectations, while emerging therapy and coronary stent sales exceeded expectations. Pressured by a shift in mix towards high power CRM, the analyst noted that low power CRM came in below his estimates.

The analyst further elaborated that the company's high power CRM grew by 18% worldwide and 15% in the U.S., although below market expectations due to St. Jude Medical, Inc.'s (STJ) entry into the CRT-D segment in July.

In the foreseeable future, the analyst expects robust growth in excess of 20%. In terms of margin growth, the analyst noted that gross margins were ahead of expectations and also up sequentially, while operating margins were in-line with his expectations.

Aided by strong sales and lower R&D expenditure, the analyst noted that the company's earnings of $0.70 per share beat his estimate by $0.02. As such, the analyst increased his price target for Guidant to $76 from $69 to reflect the per share valuation of the Johnson & Johnson acquisition offer. That said, the analyst cautioned that any hitch to culmination of the planned merger would act as significant risk to his price target.

On Thursday, the stock closed at $72.

Friday before the bell, Anadarko Petroleum Corp. (APC), an oil and gas exploration and production company, reported higher fourth quarter net income, including charges, on revenues that rose from last year.

Net income, including charges, for the quarter was reported at $405 million or $1.64 per share, compared to $294 million or $1.17 per share in the year-ago quarter. On average, 29 analysts polled by First Call/ Thomson Financial estimated earnings for the quarter at $1.86 per share.

The charges for the fourth quarter of 2004 includes an impairment in Qatar, certain legal settlements and charges related to the implementation of the refocused strategy, which amounted to a fall of $96 million after taxes, or $0.39 per share. For the fourth quarter of 2003, net income included $32 million after taxes or $0.13 per share, associated with a decline in Canadian tax rates offset partly by impairments and restructuring costs.

Quarterly sales were recorded at $1.6 billion, compared to $1.2 billion in the corresponding quarter last year. Sales volume during the quarter was 46 million barrels of oil equivalent (BOE), compared to 49 million BOE in 2003.

The Houston-based company registered cash flow from operations, before changes in assets and liabilities, for the fourth quarter of 2004 of $1.03 billion, in comparison with $728 million in the prior year quarter.

For the full year 2004, Anadarko Petroleum registered net income, including items, of $1.6 billion or $6.36 per share, increasing from net income of $1.29 billion or $5.09 per share in the previous year. 29 analysts had a consensus earnings estimate of $6.92 per share for 2004.

Fiscal 2004 revenues climbed to $6.09 billion from revenues of $5.12 billion in fiscal 2003. Sales volumes of natural gas, crude oil and natural gas liquids for 2004 were 190 million BOE, declining from 192 million BOE in 2003.

The company has also raised quarterly dividend 29% to $0.18 per share, payable on March 23, 2005, to stockholders of record on March 9, 2005.

APC closed Thursday's regular trading session at $65.76.

Triumph Group Inc. (TGI) reported third quarter income from continuing operations of $3.9 million, or $0.25 per share, compared to $2.6 million, or $0.17 per share, for the same period last year. Analysts polled by First Call/Thomson Financial expected the company to earn $0.39 per share for the quarter.

Net sales from continuing operations for the third quarter of fiscal 2005 totaled $171.3 million, an increase of 17% over $146.8 million last year. WallStreet analysts had revenue consensus of $172.48 million for the quarter.

Woodhead Industries Inc. (WDHD), reported net income for fiscal 2005 first quarter of $1.2 million, or $0.10 per diluted share, compared to net income of $2.1 million, or $0.17 per diluted share, reported for the same period last year.

On average, 3 analysts polled by First Call / Thomson Financial expected the company to report earnings of $0.11 per share for the quarter.

Total revenues for the fiscal 2005 first quarter were $48.7 million, up 8% from $45.1 million in fiscal 2004 first quarter.

Looking forward, the company expects to report earnings of $0.12 per share for the second quarter of fiscal 2005, on anticipated revenues of about $57 million. 

For fiscal 2005, the company expects to report earnings in the range of $0.70 to $0.72 per share, on anticipated total revenues of about $226 million.

Friday, First Albany initiated coverage of Motive Inc. (MOTV) with a Buy rating and set a price target of $14. Analyst Scott Zeller the stock is attractive at these levels and said the company is most closely identified with its use as software for self-service automation in the broadband market for DSL and cable subscribers.

The analyst sees positive catalysts like solid 2004-Q4, fragmented broadband market with good growth opportunities, company's term licensing model providing above-average revenue visibility better sales execution and marketing versus competition and attractive valuations.

Accordingly, the brokerage estimates 2005 earnings per share at $0.34. On Thursday the stock closed at $10.30.

We alerted readers at 12:22 that Procter & Gamble (PG) had agreed to acquire Gillette Co. (G) for around $57 billion. Under the terms of the deal, P&G will swap 0.975 share of its stock for each Gillette share. Gillette is now up 5.45 on 113K shares Friday morning on Instinet, but Procter & Gamble is down 1.83 on 13K shares.

Gillette Co. climbed to the upside in the later half of Thursday morning and rose further going into the close, to finish up by 0.85 at $45.85. The stock rose above a 6-week range and closed at a new high for the year.

T.Rowe Price Group Inc. (TROW) reported its fourth quarter net income of $97 million or $0.71 per share, compared to $69 million or $0.53 per share in the same quarter last year. Analysts expected $0.66 per share.

Net revenues for the quarter increased to $345 million from $281 million in the year-ago quarter. analysts anticipated $337.54 million.

Wachovia Securities Is Increasing CONSOL Energy Inc. (CNX) 2005 Estimate To 3.12 From 2.85

Archer Daniels Midland reported net income for the second quarter of fiscal 2004, including charges, of $314 million, or $0.48 per diluted share, compared to net income of $221 million, or $0.34 per diluted share, reported for the same quarter last year.

Net income for the quarter includes a gain of $45 million, or $0.07 per share, the company stated.  Analysts expected the company to report earnings of $0.39 per share for the quarter.

Net sales and other operating income for the quarter decreased 1% to $9.06 billion from $9.19 billion reported for the prior year quarter.

IDEXX Laboratories Inc. (IDXX) posted net income for the fourth quarter at $16.9 million or $0.49 per share, compared to net income of $12.4 million or $0.34 per share in the prior year quarter.

On average, 4 analysts polled by First Call/ Thomson Financial estimated earnings for the quarter at $0.48 per share.

Fourth quarter revenues were up 16% to $144.3 million from $124.8 million in the previous quarter last year.

Looking ahead, the company expects full year 2005 earnings to be in the range of $2.20 to $2.25 per share, on revenues of $630 to $640 million.

Boas News,

Acho uma excelente iniciativa.

Quanto ao cheque, não tem problema ser um cheque pré-datado para 20/12/2045 ? ... só para nos organizarmos melhor aqui em caixa ? ;)

um abraço,

Já agora uma sugestão, se vais fazer isto todos os dias, o titulo inicial do topico podia ser qualquer coisa como:

Noticias USA  [28/01/2005]

um abraço,

no problem... ehehehheh

Abraço

1/28/2005 9:00:28 AM After closing higher in the two previous sessions, the U.S. stock markets took a breather on Thursday, with the major averages ending the session mixed. While the Dow ended the session in negative territory, the Nasdaq and the S&P 500 managed to hold onto modest gains.

The Nasdaq and the broader market could see some further upside on Friday following the release of better than expected quarterly results from software giant Microsoft (MSFT). Shares of Microsoft are moving higher in pre-market trading, with the technology bellwether currently up more than 2 percent.

The upward momentum for Microsoft comes after the company reported fiscal second-quarter earnings that more than doubled, beating Wall Street estimates. The company also reported sales growth for the quarter, citing strong sales of server software and its Halo 2 video game.

Additionally, the company also raised its full year guidance, saying it now expects to earn $1.09 to $1.11 per share on revenue of $39.8 billion to $40 billion. This compares to Microsoft's previous guidance of earnings of $1.07 to $1.09 per share on revenue of $38.9 to $39.2 billion.

Procter & Gamble To Acquire Gillette For $57 Billion

Shares of Gillette (G) are also showing a strong upward move in pre-market trading, benefiting from news that it has agreed to be acquired by Procter & Gamble (PG) in a deal valued at approximately $57 billion. The proposed acquisition would combine two of the nation's largest consumer products makers.

Under the terms of the deal, Gillette shareholders will receive 0.975 shares of P&G common stocks for each share of Gillette held. Based on the stocks' closing prices on Thursday, the deal represents an 18 percent premium to Gillette shareholders.

The companies said that the transaction is expected to close in the fall of 2005, subject to certain conditions including approval by Gillette's and P&G's shareholders and regulatory clearance.

Additionally, P&G said that as a result of the proposed acquisition, it has raised its annual sales growth target to 5 to 7 percent from its previous target of 4 to 6 percent growth. The company also said that it expects to cut 6,000 jobs through the elimination of management overlaps and the consolidation of business support functions.

After the close of trading on Thursday, P&G released its second quarter financial results, reporting earnings that increased from last year and beat analyst estimates on higher sales. The company also forecast third quarter earnings in line with analyst expectations.

U.S. Economy Grows Less Than Expected In Q4

Friday morning, the Department of Commerce released its advanced report on the fourth quarter Gross Domestic Product, showing weaker than expected growth in the U.S. economy.

The report showed that the GDP rose at an annual rate of 3.1 percent in the fourth quarter compared to the 4 percent growth seen in the third quarter. Economists had expected a more modest slowdown to about 3.5 percent growth.

The Commerce Dept. said that the deceleration in GDP growth was primarily due to a downturn in exports and an acceleration in imports. This comes even though the recent weakness in the value of the dollar has made U.S. exports more competitive overseas.

The report also showed that a deceleration in consumer sending on durable goods also contributed to the slowdown in economic growth. The Commerce Dept. noted that this was partly offset by an upturn in private inventory investment.

The Commerce Dept. also said that its price index for personal consumption expenditures excluding food and energy rose at an annual rate of 1.6 percent. The increase for the index, which is said to be a favorite inflation indicator of Federal Reserve Chairman Alan Greenspan, compares to the 0.9 percent increase reported for the third quarter.

Real-Time Bid, Ask, Trades and News for MSFT


The Futures Are Mixed Going Into The Open [$COMPX]

1/28/2005 8:53:40 AM The Futures are currently mixed going into the open of Friday's session. The S&P Futures are up 1.50 points, the Dow Futures are down 3 points and the Nasdaq Futures are up 7.50 points.

1/28/2005 9:00:22 AM Tidewater Inc. (TDW) revealed net income for the third quarter of $19.8 million or $0.34 per share, compared to $18.3 million or $0.32 per share in the same period last year. Analysts expected earnings of $0.32.

Quarterly revenues rose to $187.6 million from $169.4 million last year. Analysts expected revenues of $174.59 million.

1/28/2005 8:58:02 AM Friday before the bell, McDonald's Corp. (MCD), an operator of restaurants, released its fourth quarter financial results reporting higher earnings, excluding items, that came in below estimates, despite an increase in revenues.

Excluding items, earnings per share for the quarter was $0.45 compared to $0.35 in the prior year quarter. On average, 19 analysts polled by First Call/ Thomson Financial estimated earnings for the quarter of $0.46 per share.

The Oak Brook, Illinois-based company posted net income of $397.9 million or $0.31 per share, compared to net income of $125.7 million or $0.10 per share in the year-ago quarter.

Operating income for the quarter rose 68% to $617.3 million from operating income of $367.5 million in the corresponding quarter last year.

Quarterly revenues were registered at $5.0 billion, climbing from revenues of $4.5 billion in the comparable quarter last year. 11 analysts had a consensus revenue estimate of $4.86 billion for the quarter.

For the full year 2004, McDonald's recorded net income of $2.2 billion or $1.79 per share, in comparison with net income of $1.5 billion or $1.15 per share in 2003. Analysts expected the company to report earnings of $1.93 per share for the year.

Fiscal 2004 operating income climbed 25% to $3.5 billion from $2.8 billion in the previous year.

Revenues for full year 2004 were reported at $19.06 billion, increasing 11% from revenues of $17.14 billion in the previous year.

MCD closed Thursday's regular trading session at $32.12.

1/28/2005 8:55:02 AM Friday morning, Engineered Support Systems Inc. (EASI), a holding company for 11 wholly owned subsidiaries, announced that it has received its fifth contract order valued at $1.4 million for 63 Multi-Purpose Decontamination Systems and accessories from the US Marine Corps Albany Logistics Base that would be fielded to US Army and US Marine Corps Chemical units.

The company stated that the order was received by its Engineered Air Systems (EASI) subsidiary in St. Louis. The order brings the total number of Multi-Purpose Decontamination Systems (MPDS) fielded to date to 440 systems throughout the Department of Defense and US Coast Guard, the company said.

Engineered Support further said that including training, field maintenance services and support, contractor Logistical Support (CLS) for MPDS under EASI's existing multi- year CLS contract would continue to be provided by the company's Radian Inc. subsidiary.

EASI closed Thursday's trade unchanged at $57.90 per share.

1/28/2005 12:15:46 AM Late Thursday, OSI Systems, Inc. (OSIS), a provider of security and inspection systems, revealed its financial results for the second quarter, reporting earnings that decreased from last year but matched analysts' estimates on higher revenues. The company also provided the outlook for the third and fourth quarters.

The Hawthorne, California-based company reported net income for the quarter of $2.5 million or $0.15 per share, compared to $3.0 million or $0.20 per share in the same quarter last year.

Excluding Spacelabs-related acquisition charges, non-GAAP net income was $3.14 million or $0.19 per share for the second quarter of 2005.

On average, 4 analysts polled by First Call/Thomson Financial expected the company to earn $0.19 per share for the quarter.

Quarterly revenue rose 101% to 102.5 million from $51.1 million reported in the year-ago quarter. Four analysts had a consensus revenue estimate of $97.50 million for the quarter. Spacelabs' acquisition contributed to a greater extent for the revenue growth, the company noted.

For the quarter, revenue from Security Group was $32 million, up 11% from last year, revenue from Healthcare Group rose to $54 million from $3.3 million, revenue from Optoelectronics & Manufacturing Group was $16.5 million, down 12% from prior year-quarter.

For the first half of 2005, OSI Systems posted net income of $3.8 million or $0.23 per share, compared to $4.3 million or $0.29 per share in the comparable period of fiscal 2004.

Revenue for the six-month period was $190.2 million, an increase of 112% from $89.7 million in the corresponding period of last year.

Looking ahead, OSI Systems projects third quarter earnings, including Spacelabs-related retention and amortization expenses, to be break even and anticipates revenue between $92 and $94 million for the quarter.

Analysts expect the company to earn $0.20 per share on revenue of $97.90 million for the third quarter.

Moreover, for the fourth quarter, OSI Systems forecasts earnings, including items, to be in the range of $0.08 - $0.10 per share and revenue in the range of $96 to $98 million.

On Thursday, OSIS closed the trading session at $19.60, up $0.11.

Cisco Upgrades Internet Routing Solution For Chunghwa Telecom`s HiNet To Help Reduce Capital And Operating Expenses - Update [CSCO]

1/28/2005 12:12:17 AM Thursday evening, Cisco Systems, Inc. (CSCO) said it has been chosen to upgrade the Internet protocol network of HiNet, the data communications business of Taiwan-based Chunghwa Telecom, to consolidate traffic of all its services.

This is not the first time the two companies are coming together. Since 2001, HiNet has deployed the Cisco 12000 Series Routers for its broadband infrastructure, and would now use the Cisco 12800 Series Router, a routing solution that can double the capacity of large IP Multiprotocol Label Switching (MPLS) networks without a complete equipment upgrade.

Cisco said it took less than two month's time to complete the major installation of the Chunghwa Telecom (CHT) IP network. The company believes that the new IP network with its added services would enable CHT to reduce capital and operating expenses, while helping it to cater to over three million customers, inclusive of existing 2.5 million broadband ADSL users.

ADSL is the acronym for Asymmetric digital subscriber line, a new technology that allows more data to be sent over existing copper telephone lines.

CHT said the new Internet routing solution would facilitate the consolidation of the traffic of all HiNet offerings.

CSCO ended Thursday's regular trade at $18.18, up 9 cents. In the after hours of trading, the stock further gained 2 cents and closed at $18.20.

 PRAECIS PHARMACEUTICALS INC. (PRCS) reported its fourth quarter net loss of about $13.42 million or $0.26 per share, compared to a loss of $16.05 million or $0.31 per share in the same quarter last year. Analysts expected a loss of $.27 per share.

The company said it generated revenues for the quarter of about $780 thousand, while there were no revenues in the corresponding period last year

 IDEXX Laboratories Inc. (IDXX) posted net income for the fourth quarter at $16.9 million or $0.49 per share, compared to net income of $12.4 million or $0.34 per share in the prior year quarter.

On average, 4 analysts polled by First Call/ Thomson Financial estimated earnings for the quarter at $0.48 per share.

Fourth quarter revenues were up 16% to $144.3 million from $124.8 million in the previous quarter last year.

Looking ahead, the company expects full year 2005 earnings to be in the range of $2.20 to $2.25 per share, on revenues of $630 to $640 million. last year

Friday before the bell, Aceto Corp. (ACET), a distributor of chemically-derived pharmaceuticals, biopharmaceuticals, specialty chemicals and agrochemicals, announced its preliminary earnings for its second quarter ended December 31, 2004.

In a statement, the Lake Success, New York-based Aceto said that it expects to report second quarter earnings of about $0.10 per diluted share, before any non-cash impairment costs associated with the sale of its discontinued Institutional Sanitary Supplies business.

On average, 2 analysts surveyed by First Call/Thomson Financial currently expect the company to earn $0.14 per share.

The company noted that non-cash impairment costs are expected to reduce its December quarter earnings by about $0.02 per diluted share.

Aceto's earlier second quarter earnings outlook was, which announced before taking the decision to discontinue the Institutional Sanitary Supplies business, in the range of $0.12 to $0.15 per diluted share, after 3-for-2 stock dividend.

The company attributed the lowered earnings guidance to competitive pricing on certain mature, tight production demand in China, costs associated with the Company's various new business initiatives and an unanticipated bad debt expense.

Aceto also said that it plans to release its second quarter results on Thursday February 3, before the stock market opens.

ACET closed Thursday's regular trading session at $11.76. In the pre-market hours, the stock is currently down $1.06 or $9.01 percent, at $10.70

Friday before the bell, Delta Apparel Inc. (DLA), manufacturer of branded apparel, announced second quarter results, reporting net earnings compared to loss last year, on higher revenues.

For the quarter, the company posted net income of $1.2 million or $0.27 per share, compared to net loss of $0.1 million or $0.02 per share in the same quarter of last year. The operating income rose $2.7 million from $0.7 million reported in the year-earlier quarter.

Delta Apparel reported quarterly net sales of $49.2 million, a 7.8% rise from $45.6 million in the comparable quarter of prior year. The company attributed the revenue rise mainly to organic growth in its core business.

Gross margins for the quarter increased 250 basis points to 22.0%, compared to 19.5% in the prior year's quarter. The company's operating margin improved 390 basis points to 5.5% from 1.6% revealed in the year-earlier quarter.

For the six-month period, Delta Apparel reported net income of $2.6 million or $0.61 per share, compared to net earnings of $0.5 million or $0.12 per share in the same period year-ago. The net sales for the six-month period rose 35.4% to $103.5 million from $76.4 million recorded in the comparable period year-earlier.

The company's gross margin improved 460 basis points to 21.6% from 17.0% in the prior year period. Operating margin increased 330 basis points to 5.7% from 2.4% in the corresponding period of previous year.

Delta Apparel expects continued growth in sales and gross margins in the second half of 2005 due to a strong spring selling season for its core business divisions.

On Thursday, DLA climbed 12 cents and closed at $25.72.

Friday morning, Smith International Inc. (SII), a provider of services to oil exploration industry, announced its fourth quarter financial results, reporting increased earnings that came in line with estimates, on higher revenues.

The Houston, Texas-based company posted its consolidated non-GAAP net income for the quarter of $58.23 million or $0.57 per share, compared to $41.00 million or $0.41 per share in the year-ago quarter. On average, 24 analysts polled by First Call/ Thomson Financial expected the company to earn $0.57 per share.

Including items, the company reported its fourth quarter net income of $58.23 million or $0.57 per share, in comparison with $38.01 million or $0.38 per share in the same prior year quarter.

Total revenues for the quarter increased to $1.22 billion from $983.54 million in the corresponding quarter of 2003, Smith noted. While 11 analysts had a consensus estimate of $1.17 billion revenue for the quarter.

Quarterly revenues from M-I SWACO improved 6% to $597.2 million from the year-ago quarter, the company added.

For the full year, Smith posted its non-GAAP net income of $202.88 million or $1.98 per share, compared to $126.47 million or $1.26 per share in the last year. While analysts anticipated the company to report $1.98 per share. Annual revenues rose to $4.42 billion from $3.59 billion in the prior year, the company said.

SII closed its trading session on Thursday at $59.50, up 54 cents.

Friday morning, the Department of Commerce released its advanced report on the fourth quarter Gross Domestic Product, showing weaker than expected growth in the U.S. economy.

The report showed that the GDP rose at an annual rate of 3.1 percent in the fourth quarter compared to the 4.0 percent growth seen in the third quarter. Economists had expected a more modest slowdown to about 3.5 percent growth.

The Commerce Dept. said that the deceleration in GDP growth was primarily due to a downturn in exports and an acceleration in imports. This comes even though the recent weakness in the value of the dollar has made U.S. exports more competitive overseas.

The report also showed that a deceleration in consumer sending on durable goods also contributed to the slowdown in economic growth. The Commerce Dept. noted that this was partly offset by an upturn in private inventory investment.

The Commerce Dept. also said that its price index for personal consumption expenditures excluding food and energy rose at an annual rate of 1.6 percent. The increase for the index, which is said to be a favorite inflation indicator of Federal Reserve Chairman Alan Greenspan, compares to the 0.9 percent increase reported for the third quarter.

Despite the weaker than expected fourth quarter growth, the report showed that GDP for full year 2004 rose at annual rate of 4.4 percent. This compares with an increase of 3.0 percent in 2003, and is the strongest rate of growth since 1999.

After the report, most economists expect that the Federal Reserve is still likely to raise interest rates by a quarter percentage point at its next meeting. The Fed is next scheduled to make a decision on interest rates at a two-day meeting starting February 1.

Gilead Sciences Inc. (GILD) reported fourth quarter EPS of $0.25 after the bell on Thursday, which topped the consensus estimate of $0.23. Revenues increased to $369.58 million, from the $263.52 million reported last year. Full year EPS came in at $0.96, which beat the consensus estimate of $0.94.

Gilead Sciences Inc. gapped open lower Thursday morning, but traded in a range for the bulk of the session, to close down by 0.58 at $32.59. The stock closed near the lower end of a 2 1/2 week range.

Eli Lilly And Boehringer Ingelheim Say Lilly Withdraws FDA Application For Duloxetine For Treatment Of Stress Urinary Incontinence - Quick Facts [LLY]

1/28/2005 9:30:44 AM Eli Lilly (LLY) and Boehringer Ingelheim Pharmaceuticals jointly revealed that Eli Lilly has withdrawn the U.S. FDA application for Duloxetine hydrochloride for treatment of stress urinary incontinence.

The companies noted that the withdrawal was based on the FDA's refusal to grant approval for Duloxetine for treatment of the SUI patient population based on the data package submitted.

Getty Images Inc. (GYI) reported fourth quarter EPS of $0.46 after the bell on Thursday, which topped the consensus estimate of $0.43. The company expects to report first quarter EPS of $0.51 to $0.54 and full year 2005 EPS of $2.10 to $2.20. The consensus estimates are for EPS of $0.52 and $2.09 respectively.

Getty Images Inc. gapped up sharply Friday morning and has since climbed gradually higher, now up 4.60 at $70.50 on above average volume. The stock has risen above a 6-week range and is now trading at a new high for the year.

Friday morning, Littelfuse Inc. (LFUS), an electronics instruments and controls company, revealed that it has reduced its staff in selling, administrative and other overhead functions due to slow down in sales. The company expects a pre-tax charge of approximately $3.5 million in the first quarter and anticipates annual savings of approximately $5 million.

The Des Plaines, Illinois-based Littelfuse disclosed that the decision was taken in tune with their strategy to reduce overhead expenditures without diluting its efforts on strategic initiatives for new product development and solution selling.

The company's President and CEO, Gordon Hunter, commented, "The recent slowdown in a few of our key markets has caused us to take action to better align expenses with current business levels."

Currently, LFUS is trading $0.15 down at $31.34.

Crude futures fell Friday on speculation that the Organization of Petroleum Exporting Countries, which pumps more than a third of the world's oil, will not cut production at a meeting Sunday.

However, analysts said the market remained jittery amid concerns over the first democratic elections in Iraq since the U.S.-led war, also scheduled for Sunday.

Light, sweet crude for March delivery dropped 42 cents to $48.42 a barrel on the New York Mercantile Exchange in electronic trading in Europe. February heating oil fell by around 1.6 cents to $1.3810 a gallon.

In London, Brent for March delivery fell 54 cents to $45.90 on the International Petroleum Exchange.

"Certainly, the market seems like its holding its breath, waiting for the OPEC meeting," said Victor Shum, oil analyst at Purvin & Gertz, an energy consulting agency.

OPEC agreed in December to cut production by 1 million barrels a day starting this month to bring output closer to its self-imposed target of 27 million barrels a day.

OPEC members have suggested the group may not cut output quotas further because prices are already high enough. Ali Naimi, oil minister for the group's largest producer, Saudi Arabia, said Thursday that members will wait until the March meeting to decide on further cuts.

Yet traders still believed in the possibility that "OPEC could pull a surprise," Shum said.

Traders are anxious too about Iraq's election, fearing that an upsurge in violence could hit southern exports, which have been largely spared the repeated sabotage that has paralyzed northern flows for more than a month.

Around 9,000 Iraqi troops are being dispatched to guard oil pipelines over the election period to stop further attacks.

Insurgents stepped up attacks Thursday against polling centers across Iraq, killing at least a dozen people, including a U.S. Marine, in the rebel campaign to frighten Iraqis away from participating in the poll.

 Buckeye GP LLC, the general partner of Buckeye Partners, L.P (BPL), a petroleum products refinery, announced its fourth quarter financial results reporting earnings that came in below estimates, despite an increase in revenues.

The company posted net income for the quarter at $22.3 million or $0.67 per share, compared to net income of $21.8 million or $0.75 per share in the year-ago quarter. On average, 7 analysts polled by First Call/ Thomson Financial estimated earnings for the quarter at $0.74 per share.

Fourth quarter operating income climbed to $36.5 million from $30.1 million in the corresponding quarter last year.

Quarterly revenues increased to $99.2 million from revenues of $70.1 million in the fourth quarter of 2003.

For the full year 2004, Buckeye recorded net income of $82.9 million or $2.76 per share, compared to net income of $30.2 million or $1.05 per share in 2003.

Fiscal 2004 operating income was $122.1 million, when compared to operating income of $109.3 million recorded in the prior year.

Revenues for 2004 were posted at $323.5 million, increasing from revenues of $272.9 million in the previous year.

The statement revealed that the fourth quarter and full year results reflected the effects of pipelines and terminals acquired from Shell.

In addition, the company declared quarterly partnership cash distribution of $.68 per unit payable on February 28, 2005, to unit holders of record on February 7, 2005.

BPL closed Thursday's regular trading session at $44.40.

Helix Technology Corp. (HELX) reported fourth quarter net income, excluding adjustments, of $2.5 million or $0.10 per share, compared to net income of $0.8 million or $0.03 per share in the prior year quarter.

On average, 7 analysts polled First Call/ Thomson Financial estimated earnings for the quarter at $0.11 per share.

Sales for the fourth quarter was posted at $34.9 million, compared to $31.7 million in the year-ago quarter.

Eli Lilly and Company (LLY), an innovation-driven pharmaceutical company and Boehringer Ingelheim Pharmaceuticals Inc. jointly announced that following discussions with the officials of the U.S. Food and Drug Administration (FDA), Eli Lilly has withdrawn its new drug application for duloxetine hydrochloride for the treatment of stress urinary incontinence, or SUI.

The companies, which signed a global long-term agreement to jointly develop and commercialize duloxetine hydrochloride for the treatment of stress urinary incontinence (SUI), depression and diabetic peripheral neuropathic pain (DPNP), revealed that the FDA is not prepared at this time to grant approval for duloxetine for the treatment of SUI patient population based on the data package submitted.

While conforming that the ongoing trials for duloxetine SUI would continue, the two companies stated that they would evaluate all options for further steps after fully understanding the FDA's perspective in this regard.

Stress urinary incontinence, or SUI, is the accidental leakage of urine during physical activities such as sneezing, coughing, laughing, lifting or exercising.

The companies revealed that withdrawal of NDA does not affect the marketing status of duloxetine for the indication of depression and diabetic peripheral neuropathic pain in the U.S. or the SUI and depression indications outside of the United States.

Duloxetine for the treatment of SUI, marketed as Yentreve and AriClaim outside of the United States, has been deemed safe and effective by regulatory authorities that have granted its approval in 27 countries throughout the world.

The stock of Eli Lilly is currently trading at $54.72, down $0.85.

Stewart Enterprises, Inc. (STEI) lowered its first quarter earnings outlook due to a 5% decline in the number of events performed by its funeral homes and cemeteries during the first two months of its fiscal year. However, the company did not change its fiscal 2005 guidance.

For the first quarter, the company now expects adjusted earnings per share from continuing operations to be in the range of $0.09 to $0.11, compared to its prior guidance of $0.11 to $0.13 per share. On average, 4 analysts polled by First Call/Thomson Financial expect first quarter earnings of $0.13 per share.

The company's first quarter earnings forecast excludes $2.7 million ($1.7 million after tax, or $0.02 per share) charge for early extinguishment of debt related to the refinancing of its credit facility in November 2004.

As per its previous announcement, the company recently began a tender offer for all $300 million of its outstanding 10 3/4% senior subordinated notes due in 2008, as part of a plan to refinance these notes.

Assuming the refinancing is completed as currently anticipated, the notes would be refinanced about five months earlier than previously forecasted. This would reduce its forecasted 2005 interest expense, which would create a corresponding positive impact on its forecast for adjusted earnings from continuing operations for fiscal year 2005, the company noted.

Meanwhile, the company still expects 2005 adjusted earnings from continuing operations of $0.44 to $0.48, excluding any charges for early extinguishment of debt and any potential gains or losses from asset dispositions. On average, 4 analysts expect 2005 EPS of $0.46 per share.

Stewart Enterprises 2005 forecast excludes interest savings of $0.02 to $0.03 per share, which would result from the anticipated refinancing, if it is successfully completed, depending on the final terms of the new debt. Assuming the purchase of all notes in the tender offer and based on financial market conditions at the time of commencement of the offer, the company anticipates an early extinguishment of debt charge of about $29 million, higher than its prior estimate of about $20 million. The earlier forecast was based on the assumption that it would redeem the notes on July 1, 2005, the company said.

The company further noted that the actual charge related to the tender offer would depend on the actual results of the tender offer.

STEI is currently trading at $6.72.

News

News

1/28/2005 10:09:46 AM Oshkosh Truck Corp. (OSK) has been climbing to the upside for the majority of Friday morning and is now higher by 2.53 at $72.51.

Oshkosh Truck Corp. has risen to a new 52-week high.

1/28/2005 10:06:42 AM Packeteer Inc. (PKTR) reported fourth quarter EPS of $0.14 after the close on Thursday, compared to the $0.10 reported last year.

Packeteer Inc. gapped open higher Friday morning and has since climbed to the upside on above average volume, now up 1.43 at $15.65. The stock has risen above over a 5-week range and is trading at nearly a 7-month high.

Commerce Group Inc. (CGI) reported fourth quarter EPS of $2.14 after the close on Thursday, compared to the $1.65 reported last year.

Commerce Group Inc. gapped up Friday morning and has since climbed higher on above average volume, now up 3.09 at $62.11. The stock is now challenging resistance at the highs of the year, trading at a 5-week high.

 Hologic Inc. (HOLX) has been climbing to the upside for the majority of Friday's session and is now higher by 1.59 at $35.31.

Hologic Inc. has been heading higher for the last 2 weeks and is now trading at a new 52-week high.

IDEXX Laboratories, Inc. (IDXX), a Maine-based biotechnology firm, announced its fourth quarter earnings that rose on higher revenues over last year.

Idexx revealed its fourth quarter net income of $16.9 million, or $0.49 per share, compared to net income of $12.4 million, or $0.34 per share, in the year-ago quarter. The year-ago earnings per share reflect a negative effect of $0.12 per share, resulting from the write-down of fixed assets, and a positive effect of $0.03 per share as a result of a reduction of an estimated liability for a third party claim and revision of an estimate of collectability.

On average, 4 analysts polled by First Call/Thomson Financial had expected the fourth quarter earnings to be at $0.48 per share.

The company's revenues for the quarter rose 16% to $144.3 million from $124.8 million last year.

Full year results:

For the full year, Idexx reported a net income of $78.3 million, up 37% from $57.1 million in 2003. On a per share basis, the earnings, including items, were $2.19 and $1.59, respectively.

Revenues for the year 2004 grew 15% to $549.2 million from $476.0 million in the previous year.

Outlook for First Quarter 2005:

Looking ahead, the company said its sees its earnings for the first quarter to be in the range of $0.47-$0.48, including about $0.03 of anticipated acquisition integration costs, on revenues of $152-$154 million. The current consensus of analysts polled by First Call/Thomson Financial on the first quarter earnings and revenues are $0.53 per share and $143.71 million, respectively.

Forecast for full year 2005:

Further, Idexx said it expects its full year earnings to range at about $2.20-$2.25 per share, with revenues expected to be at about $630-$640 million. Analysts surveyed by Thomson First Call currently expect the full year earnings and revenues to average at $2.27 per share and $599.59 million, respectively.

IDXX is currently trading at $55.81, down $1.27.

ITT Industries, (ITT) announced its fourth quarter financial reports, reporting increased net income after adjustments of special items, from last year, on the back of higher revenues. Additionally the company confirmed its full year out look for the FY2005 projected earnings and revenues.

The White Plains, New York-based provider of advanced technology products and services in fluid and water management market, stated that the adjusted net income from continuing operations rose to $121.6 million or $1.28 per share from $108.1 million or $ $1.06 per share in the previous year. These earnings came in above the consensus $1.25 per share of 15 analysts polled by First call/Thomson Financial for the quarter.

The company's unadjusted net income for the quarter was $121.6 million or $1.29 per share, compared to $108.1 million or $1.15 per share in the year-ago quarter.

Quarterly revenues rose to $1.9 billion or $1.5 billon in the prior year quarter, in comparison to the analysts' expectations of $1.82 billion.

For the full fiscal 2004,the company reported an adjusted net income of $432.3 million, which rose from $403.9 million in the prior year. Earnings improved to $4.58 per share from $4.29 per share last year in comparison to the analysts expectation of $4.50 per share for the full year.

Driven by increased sales in all the segments, full year revenues jumped to $6.8 billion from $5.6 billion, while the analysts expected the company's full year revenues at $6.65 billion.

Looking ahead, the company said it is maintaining its next year's outlook on earnings and revenues and reiterated its earlier guidance of earnings range of $5.00 - $5.15 per share with revenue of $7.15 - $7.43 billion. The analysts expect the company to earn $5.13 per share for the next year on revenues of $7.42 billion.

ITT is currently down $0.70 and trading at $83.35.

Vulcan Materials (VMC) moved to the upside at the open of Friday's session and has climbed higher in the last few minutes. The stock is now up 0.52 at $55.79.

Vulcan Materials has risen above resistance and is now trading at a new high for the year.

MDU Resources Group, Inc. (MDU), a diversified natural resource company, reported higher fourth quarter earnings that missed analysts' expectations by a penny, on higher revenues.

The company reported fourth quarter net income of $53.1 million or $0.45 per share, compared to $46.2 million or $0.41 per share in the same quarter last year. On average, 7 analysts polled by First Call/Thomson Financial expected earnings of $0.46 per share for the fourth quarter.

Operating revenues climbed to $745.9 million from $620.1 million in the comparable quarter a year-ago. Revenues from construction materials and mining segment contributed $348.6 million to the total revenues.

For the full year, the company posted net income of $207.1 million or $1.76 per share, compared to $175.3 million or $1.55 per share in the same period last year. On average, 4 analysts expect full earnings of $1.79 per share.

Earnings at its Natural Gas and Oil Production segment were $110.8 million for 2004, higher than $63.0 million for the previous year. The earnings rise in the segment was due to 20% rise in average realized natural gas prices and realized oil prices that were 25% higher than 2003. Combined natural gas and oil production increased 7%.

Revenues for the period rose to $2.71 billion from $2.35 billion in the comparable period prior year.

For the first quarter, the company projects earnings growth to be between 10% and 15%. The company also reaffirmed its 2005 earnings guidance of $1.70 to $1.90 per share. On average, 7 analysts expect 2005 earnings of $1.91 per share.

Further, the company anticipates investing about $445 million in capital expenditures during 2005.

MDU is currently trading at $26.38, down 12 cents.

Goldman Sachs Group (GS) gapped open higher Friday morning and has since climbed steadily to the upside. The stock is now higher by 2.60 at $106.61.

Goldman Sachs Group has risen above a narrow range to set over a 5-week high. The stock is approaching the highs of the year, around $110.50.

1/28/2005 10:29:24 AM The indecisive trading of the opening 30 minutes has continued into the 10 o'clock hour. None of the major averages is now more than a couple of points off the unchanged mark. Dow +1.13, Nasdaq +1.68, S&P 500 +0.48. NYSE Adv/Dec 1246/1554, Nasdaq Adv/Dec 1099/1419.

The oil service sector, the leader of an energy sell off, has come off its lows over the past half hour, but still remains about 1.5% below the flat line. Halliburton (HAL) is a drag on the sector, falling more than 4% on disappointing fourth-quarter earnings.

On the upside, the broker/dealer space is a notable standout, ticking further higher in the last few minutes and now posting a modest advance. The REIT sector is rising moderately as well.

There is a split decision in technology. While the disk drive space remains 1.3% above the flat line, certain tech spaces, like the networking and computer hardware sectors, are posting modest losses.

Synagro Technologies (SYGR) is one of the biggest percentage gainers in the early going after it announced plans to initiate a dividend and refinance debt. The stock is currently up $1.40, or 49%.

Aceto (ACET), meanwhile, is a significant mover to the downside after it provided lowered earnings guidance for the second quarter. The stock is currently posting a decline of $2.20, or 19%.

Harris Corp. (HRS) has been moving to the upside for the better part of Friday morning and is now higher by 1.21 at $65.20.

Harris Corp. has been heading higher for the last 2 sessions and is now trading at a 7-week high.

Aspect Communications Corp. (ASPT) have been on the rise since the open of Friday's session and are now higher by 1.33 at $11.70. Volume has begun to accelerate in the last 20 minutes.

Aspect Communications Corp. has risen to over a 6-month high and has re-crossed both its 50 and 200-day moving averages. The company reported fourth quarter EPS of $0.19 after the bell on Thursday, which was flat with last year.

Church & Dwight Co. (CHD) gapped up slightly Friday morning and has since climbed gradually higher on above average volume. The stock is now up 1.09 at $33.69.

Church & Dwight Co. has risen above over a 5-week range and is now trading at a new 52-week high.

Lehman Brothers Holdings (LEH) moved slightly to the upside at the open of Friday's session, but has risen higher in the last 10 minutes on increased volume. The stock is now up 0.89 at $90.41.

Lehman Brothers Holdings is approaching the highs of the year, around $90.55.

CryptoLogic Inc. (CRYP) has been climbing to the upside since the open of Friday's session and is now higher by 1.78 at $24.70. Volume has begun to increase in the last 15 minutes.

CryptoLogic Inc. is challenging resistance at the highs of the year, trading at nearly a one-month high.

Orckit Communications Ltd. (ORCT) has been climbing to the upside for the last 15 minutes on increased volume and is now higher by 4.60 at $44.16.

Orckit Communications Ltd. is now trading at its second consecutive 52-week high. The company reported a fourth quarter EPS loss of $0.67 Thursday morning, compared to the loss of $1.26. Orckit expects to report first quarter EPS of $0.15.

 Praecis Pharmaceuticals, Inc. (PRCS), a pharmaceutical company engaged in research and clinical development programs, reported net loss for the fourth quarter that decreased from the net loss for the same period last year.

The Waltham, Massachusetts - based company reported net loss of $13.42 million or $0.26 per share for the quarter, compared to a net loss of $16.04 or $0.31 per share for the same period last year. On average, 2 analysts from First Call/ Thomson Financial estimated net loss at $0.27 per share for the quarter.

The company reported total revenues of approximately $780 thousand for the quarter, which was nil a year ago.

For the full year, the company reported net loss of approximately $57.60 million or $1.10 per share, compared to a net loss of approximately $55.80 million or $1.08 per diluted share, for the prior year.

Total revenues during the year were approximately $3.0 million including approximately $2.8 million in sales of Plenaxis®, the company's first commercial product to receive US FDA approval for use in treating patients with certain symptoms of prostrate cancer. The revenue was nil the previous year.

The company had cash, cash equivalents and marketable securities of approximately $83.34 million at December 31, 2004compared to approximately $143.20 million at December 31, 2003.

PRCS is currently trading at $1.59 gaining 2 cents on a volume of 70,757 shares.

Ryland Group Inc. (RYL) gapped open higher Friday morning, but has since moved in a range. The stock has risen higher in the last 10 minutes and is now up 0.70 at $62.68.

Ryland Group Inc. has been moving in a range for the last week and a half at the highs of the year and may encounter resistance around $63.00.

Career Education Corp. (CECO) moved slightly to the downside around 10:00 this morning and has spiked lower in the last few minutes on above average volume. The stock is now down 1.01 at $38.00.

Career Education Corp. has been heading lower for the last 2 weeks and is now trading at a 5-week low.

First Merchants Corp. (FRME), a financial holding company, released fourth quarter financial results, reporting earnings that increased from last year but missed Wall Street analysts' projections by two cents.

The Muncie, Indiana-based First Merchants reported net income for the quarter of $7.5 million, or $0.40 per share, compared to $5.8 million, or $0.31 per share, in the same period last year. On average, 3 analysts surveyed by First Call/Thomson Financial expected the company to earn $0.42 per share for the period. The company stated that December quarter net interest income, after the provision for loan losses, increased by 6.7 percent to $25.8 million from $24.25 million reported in the year-ago period. For the full year 2004, First Merchants posted net income of $29.4 million, or $1.58 per share, compared to $27.6 million, or $1.50 per share, in 2003.

Total net interest income for the year also rose 6.4 percent to $99.68 million from $93.66 million recorded in the last year. First Merchants is scheduled to host a conference call at 2:30 p.m. ET on January 28

FRME is currently trading at $25.98, down $0.18 or 0.69 percent, on a volume of 2K shares

Maguire Properties, Inc. (MPG), a real estate investment trust, entered into an agreement with an affiliate of CommonWealth Partners, LLC, underwhich Maguire Properties would purchase a significant number of assets from CommonWealth's Fifth Street Properties Portfolio. The purchase price would be about $1.51 billon, the company said.

Maguire Properties noted that CommonWealth's portfolio of office properties was owned through a partnership with Rockefeller Group International, Inc and the California Public Employees Retirement System.

Maguire Properties intends to initially fund the purchase price with assumed debt and financing provided by Credit Suisse First Boston. The acquisition is expected to close in the first quarter of 2005.

As per the agreement, Maguire Properties has agreed to acquire 10 office properties comprising nearly 5.0 million square feet and four development sites entitled for over 1.5 million square feet of office space. The portfolio is currently 86.4% leased, the company said.

Upon completion, the portfolio would allow Maguire Properties to substantially and rapidly grow its Southern California asset base by three million square feet in a single transaction.

Maguire Properties plans to engage CommonWealth in an interim contract for provision of management and leasing services for the Fifth Street Properties portfolio. MPG is currently trading at $23.97, up 3 cents.

MAF Bancorp Inc. (MAFB) reported fourth quarter EPS of $0.74, compared to the $0.84 reported last year.

MAF Bancorp Inc. has been climbing steadily to the upside for the majority of Friday morning and is now higher by 1.29 at $42.98. The stock has risen to a 3-week hgh and has also re-crossed its 200-day moving average.

1/28/2005 10:51:33 AM As has been the case throughout the session, the major averages continued to hover near the flat line over the past half hour. The Dow has held to a trading range of less than 45 points through the first 90 minutes of the session. Dow -12.92, Nasdaq -0.37, S&P 500 -1.19. NYSE Adv/Dec 1425/1469, Nasdaq Adv/Dec 1219/1387.

Procter & Gamble (PG) dropped sharply at the start of Friday's trading on news that it has agreed to acquire Gillette (G) for about $57 billion. The stock came off its lows during the first 45 minutes of trading, but remains the worst performing Dow component with a loss of 2.7%. McDonald's (MCD) is also a significant decliner in the Dow, falling 1.6% on quarterly results released before the opening bell.

Earnings news sparked a sell off in Caterpillar (CAT) on Thursday, with the stock dropping to its lowest level since November. On Friday, the stock is bouncing back somewhat, rising by 1.4%. Microsoft (MSFT), which reported earnings after Thursday's close, is up by 1%, while IBM (IBM) is climbing by 1.2%.

Pixelworks Inc. (PXLW) steadily declined in the first 30 minutes of Friday's session and has dropped lower in the last few minutes. The stock is now down 1.32 at $9.52 on above average volume.

Pixelworks Inc. has dropped below a 2-week range and is now trading at a 4-month low.

KVH Industries Inc. (KVHI) has been climbing to the upside for the majority of Friday morning and is now higher by 0.60 at $10.93. Volume has begun to accelerate in the last 15 minutes.

KVH Industries Inc. is attempting to rebound off of the lower end of a 3-week range.

Standard Pacific Corp. (SPF) gapped up Friday morning, but has since moved in a narrow range. The stock has risen higher in the last 20 minutes and is now up 1.27 at $64.92.

Standard Pacific Corp. is approaching the highs of the year, around $66.65.

Adobe Systems Inc. (ADBE) moved to the downside at the open of Friday's session and has fallen lower in the last 15 minutes. The stock is now down 0.67 at $55.50.

Adobe Systems Inc. is testing the lower end of a narrow, one-week range.

Firstwave Technologies Inc. (FSTW) is a lightly traded stock that has been climbing steadily to the upside since the open of Friday's session and is now higher by 0.76 at $2.32 on above average volume.

Firstwave Technologies Inc. is tarding at nearly a one-month high and has re-crossed both its 50 and 200-day moving averages.

Hyperion Solutions Corp. (HYSL) moved to the downside in the first 30 minutes of Friday's session and has fallen further in the last 20 minutes. The stock is now down 1.75 at $46.92.

Hyperion Solutions Corp. is pulling back from the highs of the year and may find support around its current levels.

Tuesday Morning Corp. (TUES) moved slightly lower at the open of Friday's session and has fallen further in the last 20 minutes on increased volume. The stock is now down 1.64 at $27.74.

Tuesday Morning Corp. has been pulling back from its 200-day moving average for the last week and a half and is now trading at an 8-month low.

Before the bell Friday, Beckman Coulter Inc. (BEC) announced financial results for its fourth quarter, reporting earnings that rose from last year but still came in below the analysts' estimate, despite an increase in revenues.

The Fullerton, California-based company stated that reported net earnings for the quarter were $59.8 million or $0.91 per share, compared to reported net earnings of $59 million or $0.90 per share in the same period last year.

The company's earnings missed the $0.98 per share consensus estimate of eleven analysts polled by First Call/ Thomson Financial.

Beckman Coulter reported net income for the quarter of $59.8 million or $0.91 per share, compared to net income of $70.4 million or $1.07 per share in the same period last year.

The company stated that revenues for the quarter rose 8.5% to $693 million from revenues of $638.6 million last year. Ten analysts had a revenue consensus of $685.92 million for the quarter.

For the full year 2004, Beckman Coulter said that reported net earnings were $210.9 million or $3.21 per share, compared to reported net earnings of $181.9 million or $2.82 per share in the same period last year. Eleven analysts expected earnings of $3.14 per share for 2004.

Also, the company reported net income for the year of $210.9 million compared to net income of $207.2 million last year. Beckman Coulter reported earnings per share for 2004 of $3.21, flat with last year.

In addition, Beckman Coulter noted that revenues for the year rose 9.8% to $2,408.3 million, compared to revenues of $2,192.5 million last year. Twelve analysts expected revenues of $2.40 billion for 2004.

Looking forward, Beckman Coulter stated that it expects earnings for its first quarter to be in the range of $0.59 to $0.66 per share. Twelve analysts expect earnings of $0.64 per share for the first quarter.

The company stated that it expects earnings for 2005 to be in the range of $3.55 to $3.65 per share. Fourteen analysts expect earnings of $3.62 per share for the full year 2005.

Beckman Coulter revealed that its Board has declared a quarterly cash dividend of $0.14 per share, a 7.7% or $0.01 per share increase, payable on March 10, 2005 to stockholders of record on February 18, 2005.

John Wareham Chairman and CEO, said, "Returns, in the form of higher margin test kit sales should begin to flow late in 2005, with the most noticeable gains in 2006."

BEC is currently trading at $68.19, down $2.99.

Catapult Communications (CATT) gapped up and moved higher in the first 30 minutes of Friday's session and has climbed further in the last 10 minutes. The stock is now up 2.14 at $21.70.

Catapult Communications has risen to a 2 1/2 week high and has also re-crossed its 200-day moving average.

Idenix Pharmaceuticals Inc. (IDIX) gapped up slightly Friday morning, but has since moved in a range. The stock has risen higher in the last 10 minutes on increased volume. The stock is now up 1.23 at $19.97.

Idenix Pharmaceuticals Inc. has been gaining ground for the last week and a half and is now trading at a new high.

Mercury Interactive Corp. (MERQ) moved to the downside in the first 30 minutes of Friday's session and has fallen lower in the last 15 minutes on increased volume. The stock is now lower by 1.10 at $43.21.

Mercury Interactive Corp. is pulling back from resistance and may find support around $40.00.

NetEase.com Inc. (NTES) has been moving in a narrow range since the open of Friday's session, but has fallen lower in the last 15 minutes. The stock is now down 0.94 at $42.52.

NetEase.com Inc. has fallen below a 4-session range and is now trading at a 3-month low.

FX Energy Inc. (FXEN) has dropped below Friday's range in the last 10 minutes on increased volume and is now down 0.81 at $12.50.

FX Energy Inc. has fallen beneath a week and a half long range and is now trading at a 3 1/2 week low.

Rayonier Inc. (RYN) moved slightly to the downside at the open of Friday's session and has fallen lower in the last 15 minutes. The stock is now down 0.70 at $43.84.

Rayonier Inc. has been losing ground for the last week and is now trading at a 6-month low.

Furniture Brands International Inc. (FBN) appoints Denise Ramos as Senior Vice-President, Treasurer and Chief Financial Officer of the company.

The company said that it has accepted the resignation of David Howard as Vice-President, Treasurer and Chief Financial Officer of the company.

PHARMACEUTICALS INC. (AKC) said that it has obtained FDA's clearance for its Investigational New Drug Application (IND) for AP5346 allowing it to proceed with a Phase I clinical trial for this promising drug candidate. The company plans to initiate a study of AP5346 in combination with fluorouracil and leucovorin to evaluate drug safety and to establish a starting dose for future Phase II studies utilizing this combination. Access also said that its outlicensing program for OraDiscA for the treatment of canker sores has resulted in the execution of two additional licenses covering Australia, New Zealand and numerous South East Asian markets. The company said that recently executed OraDisc license agreements, Zindaclin approvals, approvals for amlexanox paste and the recent achievement of an OraDisc development milestone are important as these are milestones which will result in license payments of up to $1.5 million.

USF Corp. Q4 EPS Decreases From Last Year Despite Increase In Revenues - Update [USFC]

1/28/2005 11:29:48 AM Friday, USF Corp. (USFC), a transportation company, reported earnings per share for the fourth quarter that decreased from the year-ago quarter, despite increase in revenues.

The Chicago, Illinois - based company reported income from continuing operations of $6.6 million or $0.23 per share for the quarter, compared to $18.7 million or $0.68 per share for the same period last year.

The company reported revenues of $584 million for the quarter that rose from $547 million last year same period.

The company reported income from continuing operations of $23.8 million or $0.85 per share for the full year compared to $44.1 million or $1.61 per share last year, net of pre-tax charges.

USF reported that its revenues increased to $2.4 billion for the full year from $2.3 billion last year.

Looking ahead, the company expects its earnings per share for income from continuing operations in 2005, excluding the effects of USF Red Star to be in the range of $2.45 to $2.65.

USFC is currently trading at $33.00 losing 93 cents on a volume of 345,727 shares.

Myriad Genetics Inc. (MYGN) has been moving to the downside for the majority of Friday morning and is now lower by 1.27 at $24.30.

Myriad Genetics Inc. has slipped below a narrow range at the highs of the year and is now trading at a 2-week low.

The major averages began to sell off at the tail end of the 10 o'clock hour and have continued the drop precipitously for much of the past 30 minutes, reaching their lowest levels of the day. The Nasdaq is the worst performer among the major averages, down about 0.9%. Dow -57.12, Nasdaq -18.14, S&P 500 -6.93. NYSE Adv/Dec 1404/1606, Nasdaq Adv/Dec 1083/1635.

WMS Industries Inc. (FXEN) gapped open lower Friday morning, but has since moved in a narrow range. The stock has fallen lower in the last 15 minutes on increased volume and is now down 0.66 at $30.06.

WMS Industries Inc. has fallen below a one-week range and is now trading at a 7-week low.

Wachovia Securities downgraded shares of Direct General Corp. (DRCT) Thursday morning from a "Market Perform" to an "Underperform."

Direct General Corp. gapped down sharply Thursday and has since fallen steadily lower on above average volume, now down 8.51 at $19.98. The stock has plunged below support to set a new low for the year.

Guitar Center Inc. (GTRC) moved to the downside at the open of Friday's session and has fallen lower in the last 20 minutes on above average volume. The stock is now down 1.63 at $55.15.

Guitar Center Inc. has been trading in a range for the last 3 weeks at the highs of the year and may find support around $54.50.

MGIC Investment Corp. (MTG) moved to the downside at the open of Thursday's session and has fallen lower in the last 20 minutes. The stock is now down 0.99 at $63.31.

MGIC Investment Corp. has dropped below a one-week range and is now trading at a 3-month low.

Graco Inc. (GGG) has been moving to the downside for the majority of Friday's session and is now lower by 1.28 at $34.19.

Graco Inc. has dropped below a narrow, week and a half long range and is now trading at a 3-month low.

Merck & Co. Inc. (MRK) has been falling sharply to the downside for the last 15 minutes on above average volume and is now lower by 0.83 at $30.35.

Merck & Co. Inc. is testing the lower end of a 6-week range as well as its 50-day moving average.

American Healthways Inc. (AMHC) has been moving to the downside for the last hour and is now trading lower by 0.64 at $29.81.

American Healthways Inc. has been heading lower for the last 6 sessions and is now trading at a 3-month low.

Access Pharmaceuticals Inc. (AKC) announced that it has received clearance from the US Food and Drug Administration for its Investigational New Drug Application for AP5346. The clearance allows the company to proceed with a Phase I clinical trial for the promising drug candidate.

Access plans to initiate a Phase II study to determine the efficacy of AP5346 in combination with fluorouracil and leucovorin in colorectal cancer patients, upon successful completion of the phase I study.

Access also announced that its outlicensing program for OraDisc A has resulted in the execution of two additional licenses covering Australia, New Zealand and numerous South East Asian markets. Under the terms of these agreements Access will receive upfront licensing payments, milestone payments and will supply the product to the licensee.

Amlexanox paste is currently in the approval process in the European Union with the decision on marketing authorization in the member states due to be received in the first week of March.

Access Pharma said that Strakan, its worldwide licensee of Zindaclin, has recently been granted marketing authorization under the Mutual Recognition Procedure to sell Zindaclin in 10 additional European Union countries.

The company noted that OraDisc license agreements, Zindaclin approvals, approvals for amlexanox paste and the recent achievement of an OraDisc development milestone are important as they result in license payments of up to $1.5 million."

AKC is currently trading at $3.20, up 36 cents.

erck & Co. Inc. (MRK) said that the Judicial Panel on Multidistrict Litigation yesterday heard motions by various parties, including the company, to transfer for coordinated proceedings various pending product liability and shareholder actions relating to VIOXX.

The company said it expects the Panel to make decisions regarding these motions in the next several weeks.

Additionally, as previously disclosed, the company noted that it was advised by the staff of the SEC that it was commencing an informal inquiry concerning VIOXX.

Yesterday, the company received notice that the SEC has issued a formal notice of investigation relating to the matter. This action was not unexpected and the company said it will continue to cooperate with the SEC.

The broader indices have ticked off their intraday lows in the past half hour, though they remain notably lower on the day. Dow -60.67, Nasdaq -16.36, S&P 500 -6.41. NYSE Adv/Dec 1167/1900, Nasdaq Adv/Dec 943/1856.

The semiconductor and networking sectors dropped off during the mid-morning and are now down 1.2% and 1.5%, respectively. Energy stocks remain weak as well, led by a 1.5% decline in the oil service space.

The housing sector ticked higher through the 10 o'clock hour and has kept to a range near its highs lately. Friday's advance more than makes up for the decline posted the day before, with the sector now up 1.1%. Though SanDisk (SNDK) is still supporting the space with an 11% advance, the disk drive sector has given up most of its early gains and is now only modestly higher on the day.

Gillette (G) has broken to a new 52-week high on news of its $57 billion deal to be acquired by Procter & Gamble (PG). MicroStrategy (MSTR) has jumped to a new peak on earnings news, while Bausch & Lomb (BOL) is adding to Thursday's earnings-inspired rally, adding to its high.

Once again, earnings news is sending a number of stocks to new 52-week lows, including Sanmina-SCI (SANM), LookSmart (LOOK) and Millipore (MIL). JDS Uniphase (JDSU) is extending its nadir, adding to a downtrend that has lasted since the beginning of the year.


American Healthways Inc. Continues To Lose Ground [AMHC]

1/28/2005 11:54:25 AM American Healthways Inc. (AMHC) has been moving to the downside for the last hour and is now trading lower by 0.64 at $29.81.

American Healthways Inc. has been heading lower for the last 6 sessions and is now trading at a 3-month low.

Polo Ralph Lauren Corp. (RL) has climbed above Friday's range in the last 10 minutes and is now higher by 0.38 at $39.38.

Polo Ralph Lauren Corp. has been heading higher for the last 2 sessions after rebounding off of support.

Gold Fields Limited (GFI), a South African gold mining company commented on the waiver of condition by Harmony Gold Mining Limited (HMY) for its offer, whereby it required acceptances in excess of 50 per cent.

The board of directors of Gold Fields welcomed the waiver by Harmony in its bid as an acknowledgement that there is no prospect that they will acquire majority control of Gold Fields. Their offer had under valued Gold Fields and resulted in massive value destruction for the shareholders of both companies.

The board also warned the shareholders of both companies that there can be no certainty for some time as to what shareholding, if any, Harmony will come to hold in Gold Fields.

Gold Fields' board noted that the waiver of 50 per cent condition by Harmony clearly indicated that it is prepared to settle for a minority stake in Gold Fields rather than complete take over it originally envisaged.

GFI is currently trading at $11.25 losing 9 cents on a volume of 214,700 shares. HMY is trading at $8.19 up 4 cents on a volume of 697,700 shares.

Yum! Brands Inc. (YUM) announced today that its Board of Directors has authorized the repurchase of shares of the company's outstanding common stock up to an additional $500 million over the next 12 months. In May 2004, the Board authorized the repurchase of shares up to $300 million, which is expected to be completed during the first half of 2005.

Brown Shoe Company (BWS) climbed to the upside in the first hour of Friday's session and has risen further in the last 30 minutes. The stock is now up 0.82 at $28.87.

Brown Shoe Company has been heading higher for the last 2 sessions and is now challenging its 50-day moving average. The stock may encounter resistance around $30.00.

Anteon International Corp. (ANT) moved to the downside in the later half of Friday morning and has slipped lower in the last few minutes. The stock is now down 0.64 at $34.07.

Anteon International Corp. has been on the decline for nearly a month and is now trading at a 4 1/2 month low. The stock has also dropped below its 200-day moving average.

Macromedia Inc. (MACR) moved to the downside at the open of Friday's session and has fallen lower in the last 40 minutes. The stock is now lower by 0.64 at $32.65.

Macromedia Inc. pulled back from the highs of the year on Thursday and may find support around $31.25.

Travelzoo Inc. (TZOO) gapped open higher Friday morning, but has since moved in a range. The stock has fallen lower in the last 10 minutes and is now down 1.21 at $54.60.

Travelzoo Inc. has dropped below a 4-session range and is now trading at over a 3-month low.

Frontline Ltd. (FRO) spiked to the upside around 10:00 this morning and has risen higher in the last 10 minutes. The stock is now up 1.20 at $48.15.

Frontline Ltd. is challenging the upper end of a one-month range.

eCost.com Inc. (ECST) gapped down and moved lower at the open of Friday's session and has fallen further in the last few mintues. The stock is now down 1.09 at $11.46.

eCost.com Inc. is testing the lower end of a 2 1/2 week range.

Sina Corp. (SINA) has been moving to the downside for the last 45 minutes and is now lower by 1.57 at $25.08. Volume has begun to increase in the last 10 minutes.

Sina Corp. has dropped below a one-week range and is now trading at a 4-month low.

Vasco Data Security International (VDSI) moved slightly to the upside at the open of Thursday's session and has risen higher in the last few minutes on increased volume. The stock is now up 0.31 at $7.51.

Vasco Data Security International has risen above a week and a half long range and is now trading at a new high for the year.

XL Capital Ltd. (XL) has been gradually declining for the last hour and is now down 0.93 at $74.32. Volume has begun to increase in the last 10 minutes.

XL Capital Ltd. has fallen below a one-week range and is now trading at a 9-week low.

Coventry Health Care Inc. (CVH) revealed that it has acqired First Health Group Corp. Each outstanding share of First Health common stock was converted into a right to receive $9.375 cash and 0.1791 shares of Coventry common stock.

Related to the merger, Coventry said it is issuing about 16.5 million shares of its common stock to former First Health stockholders.

Airgas To Raise Prices On Packaged And Bulk Gases And Other Products To Maintain Its Profit Margins - Update [ARG]

1/28/2005 12:43:12 PM Friday afternoon, Airgas Inc. (ARG), a distributor of industrial, medical and specialty gases, revealed that its regional companies and operating units would increase prices on packaged and bulk gases and other products and services, effective February 28, or as contracts permit.

Airgas said that the prices would be increased by 6%-10% for packaged industrial, specialty and bulk gases, 10%-15% for helium, 12%-15% for acetylene, and 7%-8% for carbon dioxide.

Further, the company also noted that it would raise cylinder and bulk tank rental rates and pricing for hardgoods and safety products and services.

The company said that the decision was influenced by steadily rising costs, operating costs in fill plants and other facilities, costs for gas products and higher steel prices.

Peter McCausland, Chairman and CEO, said, "These pricing actions are needed so that we can maintain our profit margins, which will support these kinds of investments to add value to our customers."

ARG is currently trading at $23.40, up $0.12

Compass Bancshares Inc. (CBSS) has been moving to the downside for the bulk of Friday's session and is now lower by 1.08 at $45.59.

Compass Bancshares Inc. pulled back from its 50-day moving average on Thursday and may find support around $45.00.

Astoria Financial Corp. (AF) moved slightly to the downside at the open of Friday's session and has fallen lower in the last hour. The stock is now down 0.95 at $36.61 with volume beginning to increase in the last 15 minutes.

Astoria Financial Corp. has been pulling back from its 50-day moving average for the last 4 sessions and is now trading at a 3-month low. The stock has also dropped beneath its 200-day moving average.

The broader indices have ticked lower over the past half hour. Driven by a mid-day sell off in Merck (MRK), which was prompted by an adverse court ruling regarding its Fosamax patent, the Dow has moved to a new intraday low. The Nasdaq is sitting just above a nadir set in the 11 o'clock hour.

Overcoming a disappointing GDP report, the major averages ticked up at the start of Friday's session, helped by earnings from Microsoft (MSFT) and hope that Procter & Gamble's (PG) deal to acquire Gillette (G) might bode well for continued M&A activity. The optimism did not last much longer than the first few minutes of trading, however, and the major averages dropped sharply through the mid-morning. Dow -69.75, Nasdaq -19.28, S&P 500 -7.54. NYSE Adv/Dec 1294/1857, Nasdaq Adv/Dec 1014/1868.

Though they showed some strength early in the session, tech stocks were key components in the mid-day drop off. The semiconductor sector has been adding to its losses lately and is now posting a decline of 1.8%. The software and networking spaces are each down more than 1.5% as well.

Housing and homebuilding stocks are being helped by the decline in treasury yields, recovering from Thursday's decline. Despite a choppy session, the airline sector is currently sitting modestly above the flat line.

Treasury yields fell through the first hours of trading after the release of worse-than-expected GDP data for the fourth quarter. The 10-year yield is currently down 6.9 basis points to 4.138%, holding just above recent lows.

WebEx Communications Inc. (WEBX) has been moving to the downside for the bulk of Friday's session and is now lower by 0.71 at $19.58.

WebEx Communications Inc. has been pulling back from its 200-day moving average for the last week and a half and is now trading at a 5-month low.

Telik Inc. (TELK) has fallen below Friday's range in the last 15 minutes on increased volume and is now down 0.47 at $18.76.

Telik Inc. has been moving in a range for the last 5 weeks and may find support around $18.00.

CHICAGO (Reuters) - The union representing mechanics at bankrupt United Airlines said Friday its members had overwhelmingly rejected a tentative labor agreement that would have reduced their wages and benefits.

The Aircraft Mechanics Fraternal Association said in a statement that its members also voted in favor of calling for a labor strike. United is a unit of UAL Corp., which is based in Elk Grove Village, Ill.

Harbor Florida Bancshares Says Chairman Edward Enns Retires, Standish Crippen To Succeed - Update [HARB]

1/28/2005 1:13:23 PM Harbor Florida Bancshares, Inc. (HARB), the holding company for Harbor Federal Savings Bank, announced that its Chairman of the Board, Edward Enns, was retiring pursuant to the Company's policies on Director retirement after 27 years of service.

The company noted that Standish Crippen, a local businessman and long-time resident of St. Lucie County, was elected to fill Mr. Enns' vacancy. Current Directors Larry Lee, Jr., Richard L. Lynch and Edwin R. Massey were all re-elected for three- year terms.

HARB is currently trading at $33.11, down 11 cents.

VCA Antech Inc. (WOOF) climbed to the upside until noon and has risen higher in the last few minutes on increased volume. The stock is now up 0.38 at $17.91.

VCA Antech Inc. has been moving in a narrow range for the last week.

Amedisys Inc. (AMED) moved to the downside around mid-morning on Friday and has slipped further in the last few minutes. The stock is now down 0.95 at $28.30.

Amedisys Inc. has fallen below a narrow range to set a 2-week low. The stock has also dropped beneath its 200-day moving average.

Rudolph Technologies Inc. (RTEC) gapped open lower Friday morning and has since steadily declined. The stock is now down 1.98 at $14.85.

Rudolph Technologies Inc. has dropped beneath support and is now trading at a 10-week low.

Hansen Natural Corp. (HANS) gapped up slightly Friday morning, but has since moved in a narrow range. The stock has risen higher in the last few minutes on increased volume and is now up 0.92 at $40.30.

Hansen Natural Corp. has risen above a week and a half long range and is now trading at a new 52-week high.

News

Lowe`s President Robert Niblock Takes Over As Chairman And CEO Succeeding Robert Tillman - Quick Facts [LOW]

1/28/2005 1:33:11 PM Lowe's Companies Inc. (LOW) announced that its president Robert Niblock has assumed the additional roles of chairman and chief executive officer. Niblock, president for the past two years, succeeds retiring chairman and CEO Robert Tillman under the succession plan adopted by the board of directors last April.

After reporting disappointing earnings and guidance after Thursday's close, Lance (LNCE) declined steadily through most of the morning on Friday. The stock has added to its losses in the past 35 minutes and is now trading at $16.58, down $1.95 on the session.

With Friday's decline, Lance has broken below a 2-month trading range to reach its lowest level since early November.

Titanium Metals (TIE), which revealed after the close on Thursday that it has reached a labor accord at its Ohio plant, has risen steadily throughout Friday's session, with continued gains coming over the past 40 minutes.

The stock is currently up $2.70 to $28.35, breaking above a recent trading range and reaching a new multi-year peak.

On worse-than-expected earnings for the fourth quarter, Beckman Coulter (BEC) gapped open to the downside Friday. The stock traded in a range through the morning and into the early afternoon, but has dropped off in the past few minutes with a pick up in volume.

Beckman Coulter is currently down $5.48 to $65.70, coming off a multi-year peak set on Thursday and moving below a 50-day moving average for the first time since October.

The broader indices have spent the past hour bouncing around near their lows. The Nasdaq remains the worst performer among the major averages, posting a decline of 0.9%. Dow -62.59, Nasdaq -18.63, S&P 500 -6.29. NYSE Adv/Dec 1280/1927, Nasdaq Adv/Dec 1010/1931.

The drug sector declined sharply through the late morning and early afternoon as Merck (MRK) sold off. The space is off its lows now, but still down about 1.3%. Technology continues to be a notable drag on the markets as well, including losses in the software, semiconductor and Internet spaces.

The airline space had a choppy morning, but has been drifting higher recently. The sector is off highs reached in the mid-morning and is up about 1%.

CE Franklin (CFK) is one of the best performers on the session on quarterly results released after the close on Thursday. The stock is currently posting a gain of about $1.30, or 33%.

Earnings-related news is having the opposite impact on Insituform Technology (INSU), which said Thursday that it now expects a loss for the fourth quarter due to losses in its tunneling segment. The stock is currently down $4.30, or 21%.

Verizon Communications (VZ) drifted slightly higher in the first 90 minutes of trading, but reversed course in the late morning. The stock has declined steadily since, accelerating to the downside recently with a pick up in volume.

Verizon is currently down 43 cents to $35.44, moving below a recent trading range and to its lowest level since late July.

Merck Says U.S. Court Of Appeals For Federal Circuit Found Its Patent On FOSAMAX Invalid - Update [MRK]

1/28/2005 2:04:26 PM Merck & Co. Inc. (MRK) announced that the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., vacated the August 2003 decision of the U.S. District Court in Delaware, and found its patent claims for once-weekly administration of FOSAMAX to be invalid.

The company said that the U.S District Court held its U.S. patent for once-weekly administration of FOSAMAX to be valid and infringed by Teva Pharmaceuticals Inc's Abbreviated New Drug Application filing in August 2003.

Merck said that its basic patent for the administration of FOSAMAX, which covers both once-weekly and once-daily administration of FOSAMAX would expire in August 2007.

Further, the company said that it is entitled to an additional six months of marketing exclusivity following patent expiration. The company noted that the earliest date for marketing of any generic alendronate is February 2008.

MRK is currently trading at $27.51, up $3.67

By Michael J. Martinez, AP Business Writer
Dow, Nasdaq Slip in Afternoon Trading on News of P&G-Gillette Merger, Release of GDP Report

NEW YORK (AP) -- Slower than expected growth in the nation's gross domestic product revived economic worries on Wall Street Friday, pushing stocks lower despite strong earnings from Microsoft and another big merger announcement.

Investors were cheered by Procter & Gamble Co.'s $57 billion bid for Gillette Co. as well as a very strong earnings report from Microsoft, which saw its profits double from a year ago.

However, surprisingly weak economic data robbed the markets of any buying momentum. The Labor Department reported that the nation's gross domestic product -- the value of all goods and services produced in the United States -- rose at an annual rate of just 3.1 percent in the fourth quarter, the lowest gain in seven quarters. Economists had expected a 3.5 percent rise.

"I definitely think the GDP backdrop is troubling. I think oil prices had a much bigger impact on the economy than people thought, and oil prices actually went down in the quarter," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "I thought a 3.5 percent increase was in the bag. Now we'll see what the Federal Reserve thinks next week."

In early afternoon trading, the Dow Jones industrial average fell 75.59, or 0.7 percent, to 10,391.81.

Broader stock indicators also gave ground. The Standard & Poor's 500 index was down 8.10, or 0.7 percent, at 1,166.45, and the Nasdaq composite index lost 19.75, or 1 percent, to 2,027.40.

Wall Street had expected the economy to slow somewhat from the 4 percent annual pace posted in the third quarter of 2004, but the latest reading showed far more of a slowdown than analysts had believed. That raises concerns about profit growth for future quarters as well as the health of the labor market.

The Federal Reserve is scheduled to meet next Tuesday and Wednesday, and is widely expected to raise the nation's benchmark interest rate to 2.5 percent from the current 2.25 percent. While there have been concerns about rising prices and inflation, slower economic growth could keep the Fed from a more aggressive rate policy.

With economic uncertainty continuing, American corporations are holding fast to large reserves of cash, hoping for a better economic environment in which to expand. And as the recent merger activity has shown, many companies are opting to use that cash to buy other companies.

Procter & Gamble's bid for Gillette would create a consumer products maker with a wide swath of brand names in healthcare products, food and other consumer staples. Berkshire Hathaway founder Warren Buffett, a major Gillette shareholder, called the merger "a dream deal," and said he would buy up P&G shares as well. P&G dropped $1.56 to $53.76 on the news, while Gillette surged $5.48, or 12 percent, to $51.16.

Microsoft slipped a penny to $26.10 after its earnings, announced late Thursday, surpassed Wall Street's profit forecasts by 2 cents per share. The software giant and Dow component also reported its first profitable quarter for its home and entertainment division, thanks to strong sales of its Xbox Live online game service and the video game hit Halo2.

Fellow Dow industrial McDonald's Corp. saw its fourth-quarter profits triple from a year ago, though the fast-food chain fell short of Wall Street profit estimates by a penny per share. Revenues rose 10 percent from the year-ago quarter. McDonald's was down 11 cents at $32.01.

ChevronTexaco Corp. lost 36 cents to $53.70 after it beat Wall Street profit expectations by 23 cents per share. High oil prices and strong demand helped double the company's profits from last year's quarter.

The Boeing Co. scored a major coup over rival aircraft manufacturer Airbus SAS with a $7.3 billion deal to provide six Chinese airlines with 60 of the company's new 7E7 Dreamliner passenger jets. It was the biggest order yet for Boeing's newest jet. Boeing nonetheless fell $1.38 to $49.59.

Merck & Co. plunged $3.31, or 10.62 percent, to $27.87 after a federal court ruled that the drug maker will lose patent protection on Fosamax, the company's second best-selling drug, in 2008 instead of 2018. The U.S. Securities and Exchange Commission also announced a probe into the company's marketing of the discredited arthritis drug Vioxx.

Declining issues outnumbered advancers by nearly 2 to 1 on the New York Stock Exchange, where volume came to 890.81 million shares, compared to 847.51 million at the same point on Thursday.

The Russell 2000 index of smaller companies was down 4.99, or 0.8 percent, at 611.91.

Overseas, Japan's Nikkei stock average fell 0.18 percent. In Europe, Britain's FTSE 100 closed down 0.42 percent, France's CAC-40 dropped 0.54 percent for the session, and Germany's DAX index lost 0.35 percent in late trading.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

Eli Lilly (LLY) announced Friday that it has withdrawn its application for FDA approval of duloxetine hydrochloride for the treatment of stress urinary incontinence. On the news, the stock ticked lower at the open and has continued to decline steadily throughout the session, accelerating to the downside lately with increased volume.

Eli Lilly is currently down $2.31 to $53.26, breaking below a multi-week trading range to test support last encountered in mid-December.

Teva Pharmaceutical Receives FDA Approval For Its ANDA For Glyburide And Metformin HCl Tablets - Quick Facts [TEVA]

1/28/2005 2:12:41 PM Teva Pharmaceutical Industries Ltd. (TEVA) announced that the FDA has granted final approval for its ANDA for Glyburide and Metformin HCl Tablets, 1.25 mg/250 mg, 2.5 mg/500 mg and 5 mg/500 mg. Shipment of this product is expected to begin shortly.

Teva's Glyburide and Metformin HCl Tablets are the AB-rated generic equivalent of Bristol-Myers Squibb's Glucovance® Tablets, a product indicated as an adjunct to diet and exercise in the treatment of type 2 diabetes.

Friday afternoon, Air T Inc. (AIRT) announced its third quarter unaudited financial results, reporting earnings that increased from last year on higher revenues.

The company reported net income for the quarter of $485 thousand, or $0.18 per diluted share, compared to $230 thousand, or $0.08 per diluted share in the same quarter of last year.

The company's consolidate revenues for the quarter were $18.33 million, up from $12.98 million recorded in the prior-year quarter. The company attributed the rise in revenues during the current quarter to increased ground equipment revenues.

For the nine-month period, the company posted net income of $1.55 million, or $0.58 per diluted share, compared to $937 thousand, or $0.34 per diluted share in the same period of last year.

The company's consolidate revenues for the nine months increased to $49.78 million from $37.65 million in the prior-year period.

AIRT is currently trading at $15.08, up $1.96

Boeing Signs Preliminary Agreement To Sell 60 Boeing 7E7 Dreamliners To China, Valued At About $7.2 Billion, Production To Begin In 2006 - Update [BA]

1/28/2005 3:20:44 PM Friday afternoon, The Boeing Co. (BA), an aerospace company, announced signing a preliminary agreement for the purchase of 60 Boeing 7E7 Dreamliners by the Chinese Airlines.

The company stated that the agreement is valued at approximately $7.2 billion based on average list prices.

Boeing said the airplanes would be delivered to six Chinese carriers with each carrier scheduled to receive its first 7E7 in time for the Beijing Olympics.

Along with the announcement, the 7E7 was formally designated as the Boeing 787 Dreamliner. The company said that the 787 will be the most technologically advanced commercial airplane in the world with more amenities to offer our passengers, and fuel efficiency that is only surpassed by its revenue potential.

The 787 was launched in April of last year with an order of 50 airplanes from Japan's ANA. With the, agreement, the total number of announced orders and commitments for the 787 increases to 186 airplanes.

Boeing stated that the production of the 787 will begin in 2006 with the first flight expected in 2007 with certification, delivery and entry into service in 2008.

The company said that in addition to bringing big-jet ranges to mid-size airplanes, the 787 will fly at Mach 0.85, as fast as today's fastest commercial airplanes, while using much less fuel.

BA is currently trading at $49.78, down $1.19.

MGIC Investment (MTG) dropped at the open and added to its losses during the late morning. The stock has been drifting further to the downside lately and is now down $1.54 to $62.76.

With Friday's decline, MGIC Investment has broken below a recent trading range and to its lowest level since October.

On quarterly results released late Thursday, Ryerson Tull (RT) gapped open to the downside Friday and ticked further lower in the late morning. The stock has been adding to its losses over the past hour or so.

The stock is currently lower by $1.70 to $13.07, breaking below a 3-week trading range to reach its lowest level since late May.

Enbridge Energy Partners LP (EEP) reported fourth quarter net income of $41.6 million, or $0.61 per unit, compared with $32.3 million, or $0.54 per unit, for the fourth quarter of the prior year.

Revenues for the quarter were $1.33 billion compared to $760.4 million in the year ago quarter.

First Call/Thomson Financial analysts expected the company to report earnings of $0.56 per share on revenues of $913.42 million.

Friday after the bell, First Bancorp (FBNC) reported fourth quarter earnings of $5.31 million or $0.37 per diluted share, in comparison to $4.86 million or $0.34 per diluted share registered in the year-ago quarter.

The company said net income for the full year was $20.11 million or $1.40 per diluted share, compared to $19.42 million or $1.35 per diluted share, reported for 2003.

Medtronic, Inc., (MDT) announced that its CFO Robert Ryan would retire at the end of this fiscal year, April 29, 2005. Gary L. Ellis, currently Medtronic vice president and corporate controller/treasurer, would succeed Ryan.

Digene (DIGE) moved sideways through the morning and into the late afternoon. In the last few minutes, the stock has spiked to the upside with an increase in volume.

Digene is currently trading at $25.47, up 97 cents on the session.

Mobility Electronics (MOBE) ticked to the upside at the start of trading. After moving in a range for most of the session from there, the stock has broken further to the upside in the last few minutes on a spike in volume.

Mobility Electronics is currently trading at $7.71, up 55 cents on the session.

Giga-Tronics Inc (GIGA) reported third quarter earnings per share from continuing operations of $0.04 compared to a loss of $0.23 per share last year.

Net sales up 34% to $5.13 million from $3.8 million prior year.