SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are AngioDynamics Inc., Apple Computer Inc. and AT&T Inc.
AngioDynamics (ANGO) is expected to report second-quarter earnings of 13 cents a share, according to analysts polled by Thomson First Call.
Intervoice Inc. (INTV) is expected to post a third-quarter per-share loss of 5 cents.
Landec Corp. (LNDC) is expected to report a second-quarter loss of 2 cents a share.
Merix Corp. (MERX) is expected to post second-quarter per-share earnings of 14 cents.
Sonic Corp. (SONC) is expected to report first-quarter earnings of 20 cents a share.
UniFirst Corp. (UNF) is expected to post first-quarter per-share earnings of 65 cents.
After Friday's closing bell, the Federal Communications Commission finally approved AT&T's (T) $85 billion acquisition of BellSouth Corp. (BLS) , creating the largest phone company in the United States.
Fairchild Semiconductor Inc. (FCS) said Monday it expects to launch a tender offer for Taiwan-based System General (6280.TW). Shareholders owning 30.88 percent of the outstanding shares of System General common stock have agreed to tender their shares to Fairchild. The total purchase price is expected to be about $200 million, depending on exchange rates and the number of shares tendered.
Apple (AAPL) said in a regulatory filing on Friday that Chief Executive Steve Jobs "was aware [of] or recommended" some favorable stock-option grant dates, but cleared him and other current management of any wrongdoing. Apple also said it faked a special board meeting and will absorb $84 million in charges associated with the misdated stock options.
Arthur J. Gallagher & Co. (AJG) said it will pay $28 million to current and former clients to resolve all claims in a federal multi-district class action pending in the New Jersey Federal District Court related to contingent commissions. Gallagher will also pay $8.85 million in plaintiff's attorney fees. The Itasca, Ill.-based insurance broker admitted no wrongdoing, but said in a statement that "it chose to conclude its involvement, rather than prolong what could be a costly and burdensome lawsuit." The company said it will take a pretax charge of $5 million to $10 million in its fourth quarter to increase its reserve for the costs to be incurred to conclude the settlement and to "resolve other regulatory and civil litigation matters
Bradley Pharmaceuticals Inc. (BDY) shares dropped 14 percent Friday after the company said its A. Aarons Inc. subsidiary has launched an authorized generic version of the company's Pamine tablets. Pamine, an adjunctive therapy for peptic ulcers, accounted for roughly 7 percent of Bradley net sales during the nine months ended Sept. 30. "We proactively planned for this introduction and are pleased to be in a position to successfully execute our strategy of extending the life cycles of our established brands," said Bradley Chairman and Chief Executive Daniel Glassman in a statement.
CKE Restaurants Inc. (CKR) said it has repurchased two million shares of its common stock from its largest shareholder, Pirate Capital LLC., for $37.1 million. The Carpinteria, Calif.-based restaurant operator said the purchase price of $18.53 per share reflects the company's closing stock price on Dec. 28. CKE said it used its revolving credit facility to fund the transaction. The buyback was completed under the company's previously announced stock repurchase program. Pirate Capital's ownership stake in the CKE is now about 7.2 percent.
Shares of Oscient Pharmaceuticals Corp. (OSCI) jumped 20 percent on news that it has amended its licensing deal in Europe for its antibiotic Factive.
McAfee Inc. (MFE) said it will amend certain stock options grants made to former executives and certain current directors. The Santa Clara, Calif.-based security software maker said the changes represent a small subset of the overall measurement date changes and strike price changes that it expects to make in the future as a result of its stock option review and pending restatement.
As part of its actions, McAfee said it is amending grants made to former Chief Executive George Samenuk and former President Kevin Weiss. Samenuk and Weiss were forced out of their posts in October after an internal probe found that the company improperly accounted for up to $150 million in stock-option costs. McAfee added that it is correcting "clerical errors" associated with stock options grants to directors Leslie Denend, Denis O'Leary and Liane Wilson. The company said none of the directors were aware of the errors.
Sirva Inc. (SIR) posted a preliminary loss from continuing operations of $37.6 million, or 51 cents a share, for the six months ended June 30, as compared with a preliminary loss of $60.1 million, or 82 cents a share, for the same period a year ago. On a pro forma basis, the operating loss from continuing operations was $9.4 million vs. $17 million. The preliminary revenue was $1.78 billion compared with $1.68 billion a year ago.
The Chicago-based provider of relocation services said it was required to post the results under certain covenants of its credit facility.
Additionally, Sirva said the New York Stock Exchange has granted it a one-month additional trading period in connection with the delayed filing of its annual report on Form 10-K for the year ended Dec. 31, 2005. The extension will provide for trading through Jan. 31, subject to ongoing reassessment.
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