SAN FRANCISCO – Among the companies whose shares could see active trading in Monday's session are Apple Inc., Dobson Communications and Commerce Bancorp Inc.
Aeroflex Inc. (ARXX) said it plans to seek a strategic buyer for its radar systems development and manufacturing business in Powell, Ohio. The Plainview, N.Y., microelectronics and testing equipment producer will retain its synthetic test systems and broadband test equipment units.
Apple Inc.'s (AAPL) hotly anticipated iPhone — which many expect will redefine the category of wireless computing devices — went on sale Friday evening.
Bear Stearns Cos. (BSC) hired a former Lehman Brothers executive to run its asset-management division after the unit's reputation took a hit over subprime-mortgage losses that two of its hedge funds sustained.
Commerce Bancorp Inc. (CBH) said Chief Executive Vernon Hill is leaving amid a scandal involving real-estate deals he and his family cut with the lender. Shares of the Cherry Hill, N.J.-based company jumped more than 8 percent during afternoon trading on Friday as at least one analyst said it could now be acquired.
Electronics for Imaging Inc. (EFII) completed the independent investigation into its stock option practices from Oct. 2, 1992, through 2006, finding that the company lacks evidence supporting many of the recorded option grant dates.
Savvis Inc. (SVVS) sold assets in two adjacent data centers in Santa Clara, Calif., to Microsoft Corp. for $200 million. As a result of the sale, Savvis expects 2007 revenue of $805 million to $820 million and adjusted earnings before interest, taxes, depreciation and amortization of $155 million to $165 million.
Sycamore Networks Inc. (SCMR) will cut its work force by 46 employees, about 10 percent of its staff. The Chelmsford, Mass., fiber-optic networking products company expects to take restructuring charges and asset-impairment charges in the range of $4 million to $7 million, most of which will be recorded in the six-month period ending Oct. 27.
Shares of Talbots Inc. (TLB) rallied Friday, gaining as the troubled maker of classic women's suits and dresses named a well-respected retailing veteran as its chief executive.