*Regulators at the National Association of Securities Dealers, the
Securities and Exchange Commission and the New York Stock Exchange are
investgating eight investment banks for alleged infractions involving
initial public offerings, the Wall Street Journal reported.
*Real Networks (RNWK) surged 11.2 percent to $7.05 on Instinet. The
company was expected to announce Vodafone (VOD) has agreed to offer the
online media company's multimedia technology to its Vodafone Live
subscribers in certain markets.
*Chip stocks may see some attention after trade group the Semiconductor
Industry Association said total May sales were up 7.4 percent over the
month on higher average selling prices. Sales were up 11.3 percent over
May 2002. The May sales were above the 10-year historical average.
*Cendant Corp. (CD) is saying it will "meet or exceed" its previous
profit forecast of 35 cents for the second quarter. The New York-based
provider of travel and consumer services also reiterated its previously
announced cash flow projections. In addition, the company said it would
initiate payments of dividends, with the quarterly rate to be set at 7
cents a share.
*French engineering group Alstom (ALS) dropped 3.8 percent in Paris. It
said losses have been significantly understated in its Alstom
Transportation unit. Alstom said its U.S. unit was found to have engaged
in accounting misdeeds, including the non-recognition of costs incurred
in anticipation of shifting them to other contracts, and the
understatement of forecast costs to completion.
*Corixa (CRXA) spiked 19 percent to $8.62. The company and
GlaxoSmithKline (GSK) said Bexxar has received Food and Drug
Administration approval for the treatment of patients with non-Hodgkin's
lymphoma. GSK was little moved in London trade.
*Corixa (CRXA) spiked 19 percent to $8.62. The company and
GlaxoSmithKline (GSK) said Bexxar has received Food and Drug
Administration approval for the treatment of patients with non-Hodgkin's
lymphoma. GSK was little moved in London trade.
*Dean Foods (DF) said it has agreed to acquire the remaining 87 percent
interest in Horizon Organics that it doesn't already own for $216
million, or $24 per share, and the assumption of roughly $ 40 million in
debt. The deal is expected to close in the fourth quarter.
*International Game Technology (IGT) has agreed to acquire Acres Gaming
(AGAM) for roughly $ 130 million, or $11.50 per share, in cash.
Securities and Exchange Commission and the New York Stock Exchange are
investgating eight investment banks for alleged infractions involving
initial public offerings, the Wall Street Journal reported.
*Real Networks (RNWK) surged 11.2 percent to $7.05 on Instinet. The
company was expected to announce Vodafone (VOD) has agreed to offer the
online media company's multimedia technology to its Vodafone Live
subscribers in certain markets.
*Chip stocks may see some attention after trade group the Semiconductor
Industry Association said total May sales were up 7.4 percent over the
month on higher average selling prices. Sales were up 11.3 percent over
May 2002. The May sales were above the 10-year historical average.
*Cendant Corp. (CD) is saying it will "meet or exceed" its previous
profit forecast of 35 cents for the second quarter. The New York-based
provider of travel and consumer services also reiterated its previously
announced cash flow projections. In addition, the company said it would
initiate payments of dividends, with the quarterly rate to be set at 7
cents a share.
*French engineering group Alstom (ALS) dropped 3.8 percent in Paris. It
said losses have been significantly understated in its Alstom
Transportation unit. Alstom said its U.S. unit was found to have engaged
in accounting misdeeds, including the non-recognition of costs incurred
in anticipation of shifting them to other contracts, and the
understatement of forecast costs to completion.
*Corixa (CRXA) spiked 19 percent to $8.62. The company and
GlaxoSmithKline (GSK) said Bexxar has received Food and Drug
Administration approval for the treatment of patients with non-Hodgkin's
lymphoma. GSK was little moved in London trade.
*Corixa (CRXA) spiked 19 percent to $8.62. The company and
GlaxoSmithKline (GSK) said Bexxar has received Food and Drug
Administration approval for the treatment of patients with non-Hodgkin's
lymphoma. GSK was little moved in London trade.
*Dean Foods (DF) said it has agreed to acquire the remaining 87 percent
interest in Horizon Organics that it doesn't already own for $216
million, or $24 per share, and the assumption of roughly $ 40 million in
debt. The deal is expected to close in the fourth quarter.
*International Game Technology (IGT) has agreed to acquire Acres Gaming
(AGAM) for roughly $ 130 million, or $11.50 per share, in cash.
MfG, ZiZo
