More news and warnings that just came out -->
Teva Pharm (TEVA) 57.76 +2.81: Announces that the U.S. Food and Drug Administration (FDA) has awarded final approval for Famotidine Tablets USP (10 mg), the generic version of Merck's Pepcid AC for the treatment and prevention of heartburn; launch is anticipated immediately and Teva will have a 180-day market exclusivity period for this product; see press release.
IBP, Inc (IBP) 18.80 +0.02: At its annual meeting, company says it anticipates strong second quarter results, and remains comfortable with its previously announced EPS range of $1.80 to $2.20 for the year; IBP operating earnings, before pushdown accounting adjustments for 2001 year-to-date through the second week of May, are estimated at $114 mln compared to $113 mln during same period in 2000; see press release.
Roadway Express (ROAD) 26.18 -0.11: Company warns for Q2; says earnings expected to be 60%-70% below those of Q2 of 2000, putting EPS at about $0.16-0.21 vs current First Call EPS estimate of $0.43; company says that tonnage levels are currently 13-14% below those of a year ago; citing continued weakness in the national economy, which has reduced business levels, especially in the less-than-truckload (LTL) portion of company's operation; see press release.
CEMEX S.A. (CX) 26.49 -0.06: Cement company announces that it expects to reduce net debt by over US$400 million during the quarter ending June 30, 2001, which will allow it to achieve its targeted Net Debt/EBITDA ratio of 2.7 times ahead of schedule; see press release.
McLeodUSA (MCLD) 4.61 -0.88: -- Update -- Announces the completion of its acquisition of Intelispan (IVPN) of Atlanta. The two companies announced the transaction on March 19, 2001. Intelispan stockholders holding approximately 75% of the outstanding shares eligible to vote approved the transaction at a special meeting today; see press release.
Longs Drug (LDG) 24.00 +0.37: Drug store chain announces preliminary same-store sales increased 6.6% over the comparable period last year; pharmacy same-store sales grew 13.4% and front-end same-store sales increased 1.7%; see press release.
Modem Media (MMPT) 2.98 -0.18: Announces that company's President and Chief Operating Officer, Robert Allen, will take a leave of absence for personal reasons, effective June 8, 2001, for an undisclosed period of time; Allen will continue to serve as a member of the company's Board of Directors; see press release.
SBA Comms (SBAC) 23.15 +0.05: Announces that its Board of Directors has appointed Jeffrey A. Stoops, currently SBAC's President, to the additional position of CEO; effective January 1, 2002. Steven Bernstein, SBAC's founder, Chairman and current CEO, will remain in an executive position as Chairman of the Board; see press release.
Dover Corp (DOV) 42.39 +0.45: Company announces the acquisition of Kurz-Kasch Inc. for undisclosed terms. Kurz-Kasch is a manufacturer of coil based electro magnetic switches and sensors that are encapsulated in a thermo set plastic. Separately, DOV announces the sale of its A-C Compressor business to GE Power Systems, a subsidiary of General Electric (GE). Terms of the transaction were not disclosed. |
