MARATHON OIL TO CUT 265 JOBS IN REORGANIZATION
Date: 05 September 2003
By Bloomberg News
Bloomberg News
Marathon Oil Corp plans to cut 265 jobs, mostly at its Houston headquarters, and will close its Denver office to save more than $65 million per year (S)
Full Article
F.D.A. PANEL REJECTS GLAXO LUNG DISEASE DRUG
Date: 06 September 2003
By Bloomberg News
Bloomberg News
Food and Drug Administration advisory committee votes to recommand that FDA reject application by GlaxoSmithKline for approval of emphysema drug Ariflo (S)
Full Article
PFIZER AGREES TO DROP PATENT SUIT AGAINST ANDRX
Date: 06 September 2003
By Bloomberg News
Bloomberg News
Andrx Corp says Pfizer Inc agrees to drop patent-infringement lawsuit so that Andrx can introduce tgeneric version of diabetes drug Glucotrol XL; says it will get royalty-free sublicense under patents owned by Johnson & Johnson's Alza unit and licensed to Pfizer; Pfizer also agrees to supply Andrx with all strengths of Glucotrol by Jan 1 so Andrx can sell it as generic drug (S)
Full Article
POLYMEDICA SAYS THE S.E.C. HAS CLEARED ITS ACCOUNTING
Date: 05 September 2003
By Bloomberg News
Bloomberg News
PolyMedica Corp says Securities and Exchange Commission has affirmed company's accounting practices and that it will not have to restate earnings (S)
Full Article
FORSTMANN AGREES TO SELL ITS STAKE IN YANKEE CANDLE
Date: 05 September 2003
By Bloomberg News
Bloomberg News
Forstmann Little & Co sells its remaining stake in Yankee Candle Co to Goldman Sachs Group for $216.6 million; Forstmann paid $497 million in 1998 for 90 percent stake in Yankee Candle (S)
Full Article
CARMAX SHARES SLIDE ON LOWER-THAN-EXPECTED SALES
Date: 06 September 2003
By Bloomberg News
Bloomberg News
Used car retailer CarMax reports 6 percent increase in sales for quarter ended August 31, smaller gain than originally forecast (S)
Full Article
CALLAWAY GOLF BEATS OUT ADIDAS TO BUY TOP-FLITE
Date: 05 September 2003
By Bloomberg News
Bloomberg News
Callaway Golf Co wins bankruptcy court approval to proceed with its purchase of Top-Flite Co after outbidding Adidas-Salomon; will pay $169 million for assets of Top-Flite, unit of Spalding Holdings Corp; Top-Flite and its parent filed for bankruptcy in June (S)
Full Article
Worker Productivity Grows at a Fast Clip
Date: 05 September 2003
By Bloomberg News
Bloomberg News
Labor Department says productivity grew at 6.8 percent annual rate in April-June period, triple first-quarter pace; reports initial jobless claims rose last week to 413,000, highest in more than month; four-week moving average rose to 401,500; Commerce Department reports factory orders rose 1.6 percent in July, third consecutive increase; increase to $329.4 billion comes after revised 1.9 percent gain in June (M)
Full Article
Tax Rebates Help Stores' August Sales
Date: 05 September 2003
By Bloomberg News
Bloomberg News
Retailers including Wal-Mart Stores and Target post surprising sales gains for August as tax rebates led to purchases of back-to-school merchandise; Wal-Mart says sales at US stores open at least year rose 6.9 percent from year earlier; sales at J C Penney rose 6.5 percent; Target had 5.7 percent increase; Bank of Tokyo-Mitsubishi Ltd figures show sales at retailers increased 5.1 percent in August; sales at Gap Inc rose 4 percent, less than expected; sales at Sears, Roebuck & Co rose 3.9 percent, first monthly increase in two years (S)
Full Article
PeopleSoft Says Profit Will Beat Forecasts
Date: 05 September 2003
By Bloomberg News
Bloomberg News
PeopleSoft Inc, fending off Oracle Corp's $7.25 billion hostile bid, says its recent purchase of J D Edwards & Co will add more to profit than previously forecast and that company will cut as many as 1,000 jobs; chief financial officer Kevin Parker comments (M)
Full Article