SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Thursday's session are Delta Air Lines Inc., Alkermes Inc., Hollinger International Inc. and Multi-Fineline Electronix Inc.
After Wednesday's closing bell, Delta Air Lines (DALRQ) pilots agreed to take pay cuts aimed at saving about $143 million annually and helping keep the bankrupt carrier aloft as losses mount.
Alkermes Inc. (ALKS) and Cephalon Inc. (CEPH) said the Food and Drug Administration has issued an approvable letter for Vivitrol, which is under review for the treatment of alcohol dependence in combination with a treatment program that includes psychosocial support. The companies still expect to launch Vivitrol during the second quarter of 2006.
Cherokee International Corp. (CHRK) increased its revenue outlook for the fourth quarter. It now expects quarterly revenue to grow at a rate in the mid-to-high teens over the third quarter. Previously, the company forecast a growth rate in the mid-teens.
Hollinger International Inc. (HLR) filed its quarterly report on form 10-Q for the third quarter with the Securities and Exchange Commission. Hollinger reported a net loss of $9.12 million, or 10 cents a share, in the quarter. In the same period last year, the company reported earnings of $334.9 million, or $3.69 a share. Revenue was $138.4 million compared with $137.6 million last year.
Kona Grill Inc. (KONA) said it now expects fiscal 2006 revenue of $49 million to $51 million and a net loss per share of 44 cents to 53 cents. Previously, the company forecast revenue of $53 million to $55 million and a net loss per share of 26 cents to 35 cents. Kona, a grill and sushi bar operator, said it still anticipates being profitable in fiscal 2007. For fiscal 2005, Kona still expects revenue in the range of $36 million to $37 million and a net loss of 13 cents to 23 cents a share
Multi-Fineline Electronix Inc. (MFLX) raised its fiscal first-quarter earnings forecast to a range of $15 million to $17.5 million. The Anaheim, Calif.-based printed circuit company had previously forecast earnings of $11 million to $12.4 million. Multi-Fineline said the higher earnings forecast is based on the increased leveraging of fixed costs on what are expected to be strong wireless communications sales during the quarter.
Novartis AG (NVS) said the Food and Drug Administration has approved breast cancer treatment Femara in a new indication as a treatment for use after surgery in post-menopausal women with hormone-sensitive early breast cancer. Femara is now the only medicine in its class approved for use in these patients following completion of five years of tamoxifen therapy, Novartis added.
Public Service Enterprise Group's (PEG) indirect unit PSEG Resources said it has sold its interest in the Seminole Generation Station Unit 2 for $286 million, resulting in a $41 million after-tax gain. Net proceeds of $235 million, combined with previously repatriated cash, will be used to redeem all of an affiliate's $309 million of outstanding 7.75% senior notes due 2007. The company said the transaction's per-share gain of 17 cents was not included in the 2005 earnings outlook of $3.15 to $3.35.
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