SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are Cooper Cos., ADC Telecommunications Inc. and Martek Biosciences Corp.
After Tuesday's closing bell, Cooper (COO) reported fiscal fourth-quarter results that came in below its own expectations, which the health-care products maker attributed to order processing and shipping delays, and a lackluster response to its new spherical contact lens products. See full story.
ADC Telecommunications (ADCT) reported fourth-quarter net earnings of $40.4 million, or 33 cents a share, compared with $900,000, or 1 cent a share, in the same period last year. See After Hours column.
Axis Capital Holdings Ltd. (AXS) said Trident II L.P. and its related entities have agreed to sell 3 million of Axis' shares in a block trade.
Buckle Inc. (BKE) said its board has authorized a one-time cash dividend of $3 per share. The dividend is payable Jan. 2 to shareholders as of Dec. 22, according to the Kearney, Neb.-based retailer.
Cabot Microelectronics Corp. (CCMP) said it plans to pursue legal action against DuPont Air Products NanoMaterials LLC on chemical mechanical planarization slurries that Cabot claims infringe its patents.
Celanese Corp. (CE) said it is relocating strategic management of the company's Acetyls business to Shanghai, China, as early as spring 2007. The chemical company added that it expects to derive 45% to 55% of its earnings from Asia by 2010, compared with the current level of 30%.
CHC Helicopter Corp. (FLI) reported second-quarter net earnings of C$8.9 million ($7.2 million), or 20 Canadian cents a share, compared with C$39.2 million, or 85 Canadian cents a share, in the same period last year.
CKE Restaurants Inc. (CKR) said third-quarter net income fell, as income tax expense rose, to $9.46 million, or 13 cents a share, from $15.8 million, or 23 cents a share, during the same period in the prior year.
Cleveland-Cliffs Inc. (CLF) said it has agreed to acquire 30% of Brazil's Amapa iron ore project by buying Centennial Asset Amapa Participacoes SA for $133 million. Amapa is expected to produce 6.5 million metric tons of iron ore concentrate annually.
DCT Industrial Trust Inc. (DCT) said its initial public offering of 16.3 million shares has priced at $12.25 each, raising $199.7 million. The shares will begin trading Wednesday on the New York Stock Exchange under the symbol "DCT."
EchoStar Communications Corp. (DISH) said Dish Network satellite TV service has reached an agreement to carry NewLine Cinema's current and catalog titles. The titles will be available on the Video On Demand platform, DISH On Demand, as well as Pay-Per-View services.
The Federal Trade Commission said it has granted conditional approval for Johnson & Johnson's (JNJ) proposed acquisition of Pfizer Inc.'s (PFE) consumer health-care business. The FTC is requiring J&J to divest several units to eliminate competition problems.
Martek Biosciences (MATK) said fourth-quarter net earnings dropped to $641,000, or 2 cents a share, compared with $4.89 million, or 15 cents a share, in the same period last year. See After Hours column.
Media General Inc. (MEG) said November revenue rose 21.2% to $91.7 million from the same period in the prior year. Excluding results from four new NBC television stations, monthly revenue rose 6.1%.
Peerless Systems Corp. (PRLS) said it swung to a third-quarter net loss, as revenue fell, of $18,000, or breakeven on a per-share basis. During the same period in the prior year, net income was $1.05 million, or 6 cents a share.
SAIC Inc. (SAI) said third-quarter net income rose, as revenue gained, to $98 million, or 28 cents a share, from $91 million, or 25 cents a share, during the same period in the prior year. See After Hours column.
Savient Pharmaceuticals Inc. (SVNT) said a federal appellate court in Washington, D.C., has temporarily banned all sales of generic Oxandrin, a weight treatment, by Sandoz Pharmaceuticals and Upsher-Smith Laboratories.
Sprint Nextel Corp. (S) has named President and Chief Executive Gary Forsee as chairman. Forsee replaces Tim Donahue, who will retire as executive chairman at the end of this month.
Stanley Furniture Co. (STLY) said it plans to cut 200 of the 450 employees at its Robbinsville, N.C. plant. The cuts include management and hourly employees, according to the wood furniture manufacturer.
WD-40 Co. (WDFC) raised its quarterly dividend 13.6% to 25 cents a share. The San Diego-based maker of lubricants and cleaners said the dividend is payable Jan. 31 to stockholders of record as of Jan. 8.
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