SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are Research In Motion Ltd., Red Hat Inc. and Micron Technology Inc.
Research In Motion (RIMM) , maker of the popular BlackBerry handheld device, reported its profit grew 49 percent in on subscriber additions and strong handset shipments.
Airspan Networks Inc. (AIRN) named David Brant as chief financial officer. Brant most recently lead the company's ASNet division.
Allergan Inc. (AGN) said the Food and Drug Administration has issued an approvable letter for Combigan, a treatment to reduce elevated intraocular pressure. The company said the FDA has suggested an additional confirmatory study to address certain questions posed, and that Allergan has already commenced a clinical study that addresses the questions.
Electroglas Inc. (EGLS) said the second-quarter net loss narrowed, as revenue rose, to $3.23 million, or 12 cents a share, from a net loss of $5.3 million, or 24 cents a share, during the same period in the prior year. For the third quarter, the company sees sales of $10 million to $12 million.
Hertz Global Holdings Inc. (HTZ) said Mark Frissora, chief executive, has been appointed to the additional role of chairman. Frissora has also been appointed chairman of indirect subsidiary Hertz Corp.
Horizon Lines Inc. (HRZ) said it has named Norman Mineta, former Secretary of Transportation, to its board, effective Jan. 1. Mineta fills a vacancy created by the resignation of director James Holloway, which is effective Dec. 31, the Charlotte, N.C.-based company said.
IMS Health Inc. (RX) said it has approved a buyback of up to 10 million shares under a new stock repurchase program.
InfoSpace Inc. (INSP) said Stephen Davis will leave his position as president of the company's mobile and online media business, effective Jan. 1, to pursue other career opportunities. The company said it will not fill Davis' position following his departure due to its previously announced restructuring, under which InfoSpace plans to reduce its investment in mobile content and focus on its online and mobile infrastructure businesses.
International Paper Co. (IP) said it has agreed to sell five wood products mills to Georgia-Pacific for $237 million. The mills employ 2,400 people, and the sales are expected to close in the first half of 2007.
Jack in the Box Inc. (JBX) said it has repurchased 2.34 million shares of its common stock at a price of $61 each, for a total cost of $142.5 million, in its recently completed Dutch Auction tender offer. The company said it plans to continue repurchasing shares of its common stock in the open market during 2007.
Lockheed Martin Corp. (LMT) said it has agreed to acquire Fairfax, Va.-based Management Systems Designers Inc. MSD, with more than 600 employees, is an information technology provider for government life science, national security, and other civil agency missions.
Marshall & Ilsley Corp. (MI) said Chief Executive Dennis Kuester plans to retire as the annual shareholder meeting in April 2007. President Mark Furlong was named to succeed Kuester as CEO, the Milwaukee-based financial services firm said.
Micron Technology (MU) said reported first-quarter profit of $192 million, or 25 cents a share, up from $63 million, or 9 cents a share, in last year's same period. For the three month period ended Nov. 30, sales rose to $1.58 billion from $1.36 billion.
Nacco Industries Inc. (NC) said it has increased its tender offer price for Applica Inc. (APN) to $7 from $6.50 a share. In October, Applica, a Miramar, Fla.-based home appliance maker, agreed to be acquired by affiliates of Harbinger for $6 a share.
Nationwide Financial Services Inc. (NFS) and Nationwide Mutual Insurance Co. said they have reached a preliminary understanding on the acquisition of the Philadelphia-based operations of NWD Investment Management Inc. The total consideration in the transaction will be $200 million in cash, plus an amount equal to the tangible shareholder equity on the balance sheet at closing
Novellus Systems Inc. (NVLS) said Sass Somekh will retire as president, and transition to a part-time role, effective Jan. 29. Somekh will continue to work for the foreseeable future as chairman of the Novellus Technical Advisory Board, and serve as advisor to the chief executive.
ProLogis (PLD) said its board has raised the annual cash dividend 15 percent to $1.84 per share, or 46 cents per quarter.
Qualcomm Inc. (QCOM) said it now expects first-fiscal-quarter earnings per share, excluding items, of 41 cents to 42 cents, compared with its prior outlook of 42 cents to 44 cents. The company added that it now expects quarterly revenue to be at the high end of its prior view of $1.98 billion to $2.08 billion.
Red Hat Inc. (RHT) said reported third quarter net income of $15.5 million, or 7 cents a share, down from net income of $24.5 million, or 12 cents a share. Sales rose 45 percent to $105.8 million, the Raleigh, N.C. company said.
Research in Motion Ltd. (RIMM) reported third-quarter profit of $176 million, or 93 cents per share, compared with last year's $120.2 million or 63 cents per share. Excluding regular stock-option expense of $3.6 million, preliminary adjusted net income was $179.6 million, or 95 per share diluted.
Resources Connection Inc. (RECN) reported second-quarter net earnings of $14.7 million, or 29 cents a share, compared with $16 million, or 31 cents a share, in the same period last year. Excluding stock-based compensation expense, among other items, the Costa Mesa, Calif. -based company posted per-share earnings of 36 cents.
Shuffle Master Inc. (SHFL) reported fourth-quarter profit of $4.9 million, or 14 cents share, down from $8.2 million and 23 cents a year ago. Revenue rose 39 percent to $46.1 million.
Silicon Image Inc. (SIMG) said it has signed a settlement and license agreement with Genesis Microchip Inc. Silicon Image expects to record a $13 million to $15 million increase in operating income, and will record in its fourth quarter a one-time catch-up of previously earned royalties, and a partial recovery of patent assertion costs.
Tibco Software Inc. (TIBX) reported fourth-quarter net earnings of $31.5 million, or 14 cents a share, compared with $26.6 million, or 12 cents a share, in the same period last year, on the back of strong license revenue growth. Excluding stock-based compensation, among other items, the Palo Alto, Calif.-based company posted per-share earnings of 14 cents.
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