Reuters:   Goldman Sachs Group (NYSE: GS) settled with the SEC for $550 million.

Reuters:   BP plc (NYSE: BP) capped the flow of oil into the Gulf of Mexico.

Reuters:   Google Inc. (NASDAQ: GOOG) profits missed targets as expenses rose.

Reuters:   Smartphone sales pushed up results in Q2 for Sony Ericsson.

Reuters:   A recall of the Apple Inc (NASDAQ: AAPL) iPhone is unlikely.Reuters:   Problems in Europe and iPhone sales will hurt results of other smartphone companies.

Reuters:   American Research Group says there is still strong demand for the iPad.

Reuters:   Carlyle Group will buy NBTY (NYSE: NTY) for $3.8 billion.

WSJ:   Bank of America Corporation (NYSE: BAC) will focus on consumer banking as the financial reform bill becomes law.

WSJ:   Citigroup (NYSE: C) disclosed in new public filings how it hid risk.

WSJ:   Apple  management knew of risks that its iPhone 4 would have reception problems.

WSJ:   A WSJ survey shows more economists believe that the economy is improving.

WSJ:   The delivery of the Boeing (NYSE: BA) 787 could be delayed again.

WSJ:   Honda Motor (NYSE: HMC) was hit by another strike in China.

WSJ:   Advanced Micro Devices (NYSE: AMD) posted higher sales.

WSJ:   The auto industry is fighting a new safety bill.

WSJ:   Activision is gambling $100 million on a PC-based game.

WSJ:   Congress approved the financial reform bill.

WSJ:   Fed governor nominees supported policies to drive down unemployment.

WSJ:   China’s yuan policy has changed very little.

WSJ:   Bombardier will compete with Airbus and Boeing in the mid-sized aircraft market.

WSJ:   Johnson & Johnson (NYSE: JNJ) will keep a Tylenol plant shut.

WSJ:   GlaxoSmithKline (NYSE: GSK) will take a $2.4 billion charge for costs related to problems with several drugs.

WSJ:   Gannett’s (NYSE: GCI) earnings may conceal ongoing problems in the newspaper industry.

WSJ:   Improved results of Greek debt issues may mark a turnaround in Europe.

WSJ:   KKR stock fell after its IPO.

NYT:   Banks are trying to change their business models now that the financial overhaul bill is in place.

Blomberg:   Buyers of BP assets many face the legal problems that go with them.

Douglas A. McIntyre

Amazon.com Inc. (NASDAQ: AMZN) is trading lower after Bank of America/Merrill Lynch cut the rating to NEUTRAL from BUY.  Shares are down 2.3% at $120.40 on over 60,000 shares, but the stock was challenging $119 earlier.

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is up as a VIVUS-FDA side trade stock.  Shares are up 10% at $4.72 on over 300,000 shares.

BP plc (NYSE: BP) is down about 1% this morning after it delayed well-cap tests at the Gulf of Mexico disaster until later Wednesday.  This morning the oil flows freely.

NBTY Inc. (NYSE: NTY) is surging by 44% to $54.12 after receiving a $3 billion takeover from private equity for the vitamin and supplements operation.  We have already seen close to 6 million shares traded.

Orexigen Therapeutics, Inc. (NASDAQ: OREX) is also trading higher on the VIVUS drug class tie ahead of its FDA panel decision today.  Shares are up 2.4% at $5.69 on almost 30,000 shares.

Verenium Corporation (NASDAQ: VRNM) is trading up massively after getting a biofuels deal for $98 million for its units from BP.  This was a $30 million company, and shares were up 81% at $4.47 on 20,000 shares.

VIVUS, Inc. (NASDAQ: VVUS) SHARES ARE HALTED…. The company has its Qnexa FDA panel decision due today… stay tuned.

JON C. OGG

Affymetrix Inc. (NASDAQ: AFFX) announced preliminary revenues of about$75.0 million vs. $90 million expected from First Call consensus.  Thecompany said global sales fell below expectations for the quarter asincreased competition for academic research funding and continuedsoftness in industrial spending.

BE Aerospace Inc. (NASDAQ: BEAV) is seeing its shares tradeup on a large order announcement from Airbus.  The maker of airplaneinteriors raised earnings guidance for this past quarter to $0.54 per share vs. $0.50estimates, but it lowered guidance in Q4 to $0.50 vs. $0.57estimates.  Due to issues in the airline sector and delays in aircraftorders and building delays, the company is also lowering 2009 and 2010expectations.

Coherent, Inc. (NASDAQ: COHR) expects revenue of $141 million to$142.5 million rather compared with its prior range of $154 million to $157 million.The photonics-based solutions provider company is also closing itsexcimer laser site in Munich, Germany and will consolidate thoseoperations in Goettingen, Germany.

Conn’s, Inc. (NASDAQ: CONN) said Hurricanes Ike and Gustav took outroughly 144 store days of performance for the quarter.  The companysaid it will update guidance in November, but for all practicalpurposes this is a light version of an earnings warning from theelectronics and home appliances retailer with operations throughoutLouisiana, Texas, and Oklahoma.

NBTY Inc. (NYSE: NTY) issued preliminary guidance of $602 million inrevenue, rather than the $614.7 million estimates.  The company saidorganic growth in US wholesale nutrition sales were up 12%, butEuropean sales were down 14%.  It also noted that same-store sales inthe US were down 10%.  No indications have been seen on this one yet.

Orbotech Ltd. (NASDAQ: ORBK) has issued lower guidance for thirdquarter revenues with a lower range of $90 to $95 million rather thanthe $104.5 million consensus as certain PCB customers have deferreddeliveries for its PCB systems.

Jon C. Ogg
October 13, 2008