SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Monday's session are TiVo Inc., First BanCorp and Delphi.
Mosaic Co. (MOS) is expected to report first-quarter earnings of 23 cents a share, according to two analysts polled by Thomson First Call.
After Friday's closing bell, TiVo Inc. (TIVO) said that Chief Financial Officer Dave Courtney will resign in April to pursue other opportunities.
Delphi Corp. (DPH) said it expects its closing third-quarter cash balance to be more than $1.6 billion. Delphi also confirmed that it will make its regular monthly payments to its suppliers on or about Oct. 4, as contractually scheduled. The Troy, Mich.-based auto parts supplier said it didn't make a voluntary repayment on a portion of its borrowings under its $1.8 billion revolving credit facility so that it could maintain liquidity as it worked on its transformation strategy.
Dollar General Corp. (DG) said it plans to repurchase up to 10 million shares. The stock buyback authorization expires Sept. 30, 2006, the Goodletsville, Tenn.-based discount retailer said.
First BanCorp said (FBP) its chief executive and chief financial officer have stepped down just over a month after the Puerto Rican financial holding company disclosed a Securities and Exchange Commission inquiry into its accounting.
Gen-Probe Inc. (GPRO) said a federal appeals court has affirmed the summary judgment in favor of Gen-Probe in a patent infringement lawsuit initiated by Enzo Biochem Inc. (ENZ) . San Diego-based Gen-Probe said a summary judgment in July 2004 ruled that the patent on which Enzo's lawsuit is based is invalid and dismissed its infringement claims. Gen-Probe said Enzo filed the infringement lawsuit in June 1999, alleging that Gen-Probe and Becton Dickinson willfully infringed a patent through the manufacture and sale of products for the diagnosis of gonorrhea.
Hoku Scientific (HOKU) said the U.S. Navy has exercised two options valued at $2.5 million in the company's fuel cell demonstration contract.
Kinetic Concepts Inc. (KCI) said it has agreed to pay $75 million to settle its litigation with Novamedix Ltd., a subsidiary of Orthofix International NV (OFIX) . Novamedix filed the case in 1992 over Kinetic's PlexiPulse line of foot pump products used to prevent deep-vein thrombosis. Kinetic said the settlement will result in a one-time after-tax charge of $47.2 million, or 64 cents a share, for the third-quarter.
Medtronic Inc. (MDT) said a federal appeals court has vacated a previous lower court injunction and voided a summary judgment against its Medtronic Sofamor Danek unit in a patent dispute with Cross Medical Products Inc., a unit of Biomet Inc. (BMET) . The ruling returns the case to a jury trial in a U.S. district court in California, Medtronic said. Separately, Medtronic also said that a jury in the U.S. District Court in Denver awarded $51 million to its Medtronic Navigation unit in a dispute with BrainLAB AG, involving four patents related to image-guided surgical techniques and devices.
Communications Workers of America said that its workers at Qwest Communications Inc. (Q) have ratified a new 3-year labor agreement. CWA, which represents 25,000 Qwest workers in 13 states, said 66% of its members voted in favor of the new contract. The union said the settlement provides a wage increase of 7.5% over the contract term.
Ryan's Restaurant Group Inc. (RYAN) said that same-store sales in September were down 4.2% from a year ago, while total sales fell 4%. For the third quarter, same-store sales were off 3.7% compared with last year, while totals sales fell by 1%. The Greer, S.C.-based company said third-quarter sales levels were impacted by Hurricanes Katrina and Rita.