Bear Stearns’ (BSC) Jimmy Cayne will be stepping down as CEO but remaining as Chairman according to multiple reports.
Credence Systems (CMOS) $0.05 EPS & $97.7M revenues vs. $0.05/$105M est.; but guidance much lower now with a -$0.37 to -$0.39 loss on revenues of $58-62 Million versus $0.02 and $102.75M estimate.
Great Atlantic & Pacific Tea Company (GAP) posted high EPS instead of a loss, but it has many items causing the gains.
Isis Pharma (ISIS) traded up almost 50% on Genzyme partnership for lipid lowering agent with potential $2 Billion in annual sales.
Joy Global (JOYG) is acquiring Continental Global for $270 million.
Nektar (NKTR) is commencing its Phase II clinical development program for NKTR-102 in Colorectal Cancer.
Nu Skin Enterprises (NUS) received direct selling approval in Mainland China.
Perry Ellis (PERY) is acquiring C&C California & Laundry from Liz Claiborne for roughly $37 million in a deal accretive to FY09 earnings.
Starbucks (SBUX) bringing back Schultz as CEO.
Supervalu (SVU) $0.66 EPS vs $0.63 estimate, but slightly lowered guidance.
UnitedHealth Group (UNH) announced a subsidiary is acquiring Unison Health Plans.
Jon C. Ogg
January 8, 2008