CORR gets mentioned in CBS MarketWatch's big weekend news blurb..:
STOCKS TO WATCH
AmEx, Boston Scientific, BellSouth
By CBS MarketWatch Last Update: 5:02 AM ET July 24, 2004
Another big earnings week is on tap while Democrats nominate their standard-bearer.
The earnings crush resumes next week with American Express (AXP: news, chart, profile), Boston Scientific (BSX: news, chart, profile) and BellSouth (BLS : news, chart, profile) set to report on Monday.
Tuesday will bring chemicals company DuPont (DD: news, chart, profile), telecoms leader Verizon (VZ: news, chart, profile), aerospace concern Lockheed Martin (LMT: news, chart, profile) and drugmaker GlaxoSmithKline(GSK: news, chart, profile).
Wednesday's highlights include Boeing (BA: news, chart, profile), JDS Uniphase (JDSU: news, chart, profile) and Hilton Hotels (HLT: news, chart, profile).
Thursday will see ExxonMobil (XOM: news, chart, profile), Gillette (G: news, chart, profile), French telecoms equipment maker Alcatel (ALA: news, chart, profile), German electronics giant Siemens (SI: news, chart, profile) and Taiwanese chip company Taiwan Semiconductor Manufacturing (TSM: news, chart, profile).
The flow slows on Friday with Archer Daniels Midland (ADM: news, chart, profile) and ChevronTexaco (CVX: news, chart, profile) topping a much smaller roster.
Amazon.com (AMZN: news, chart, profile), the online store, reportedly gained a favorable ruling late Friday in its legal battle with Toys "R" Us (TOY: news, chart, profile). See full story.
Anthem (ATH: news, chart, profile) and WellPoint Health Networks (WLP: news, chart, profile), two health-maintenance organizations, face a challenge to their $16 billion merger from California's insurance commissioner. See full story.
Apollo Group (APOL: news, chart, profile), which operates the University of Phoenix Online adult education system (UOPX: news, chart, profile), said late Friday that it will make a $3 million payment and announced resolution with the U.S. Department of Labor on the nonmanagement status of its enrollment advisers. The company said it previously reserved money for the payment.
BSquare (BSQR: news, chart, profile), which makes software that meshes with Microsoft's (MSFT: news, chart, profile) Windows CE operating system for mobile devices, said late Friday it will stop making hardware products. BSquare said some of its clients felt it was competing with their products. Some workers were dismissed and the company will take a $3.3 million charge in its fiscal second quarter, with the dropped division's $370,000 in revenue and $1.2 million in losses included under discontinued operations.
Clark Consulting (CLK: news, chart, profile), which advises companies on compensation, said late Friday that it learned of a Securities and Exchange Commission investigation of possible insider trading by Robert Gallivan, an independent sales contractor. Gallivan, who was not a Clark employee, ended his affiliation with the company. See full story.
The Commerce Group (CGI: news, chart, profile), a New England insurer, reported a 48 percent decline in net income late Friday. Second-quarter earnings totaled $37.8 million, or $1.14 a share, vs. $71.5 million, or $2.24 a share, in the same period a year earlier. Excluding net realized investment losses of $8.6 million, or 17 cents a share, the company met the Thomson First call estimate of 97 cents a share.
Corridor Communications (CORR: news, chart, profile), a wireless Internet service provider, said late Friday that it completed a $2.55 million placement of convertible preferred shares at $1,750 apiece. The shares pay a 10 percent dividend the first year and 12 percent in subsequent years. Additionally, buyers will receive warrants for up to 87,500 shares for each preferred share purchased; no exercise price was disclosed in the company's statement.
Elecsys (ASY: news, chart, profile), which makes electronic circuitry, said late Friday that its board elected Robert D. Taylor as chairman. He has been on the board since 1994 and is CEO of Executive AirShare, a corporate-jet dealer.
Escalon Medical Corp. (ESMC: news, chart, profile) said late Friday its offer to buy the outstanding 67 percent of the ordinary shares of Drew Scientific Group PLC has been accepted.
Fog Cutter Capital Group (FCCG: news, chart, profile), which develops real estate and restaurant property, said late Friday that Ernst & Young is resigning as its auditor. There were no disagreements on accounting or procedures, the company said.
Gabelli Asset Management (GBL: news, chart, profile), an investment company, late Friday reported a 16.5 percent profit increase over the prior-year quarter that was in line with reduced Wall Street estimates. See full story.
Gaiam (GAIA: news, chart, profile), which makes lifestyle products such as solar energy panels and yoga tapes, warned of lower second-quarter results late Friday, citing weakness in its domestic sales. See full story.
Gannett (GCI: news, chart, profile), the nation's largest newspaper chain, said Friday it acquired a group of newspapers, advertising and specialty publications from Brown County Publishing Wisconsin. Terms were not disclosed. See full story.
Merck (MRK: news, chart, profile) and Schering-Plough (SGP: news, chart, profile) gained approval late Friday from the U.S. Food and Drug Administration for the drugmakers' two-in-one cholesterol pill Vytorin. See full story.
Open Solutions (OPEN: news, chart, profile), which provides data processing for financial companies, said late Friday it acquired Omega Systems for $2.5 million in cash. Omega had 2003 revenue of about $2 million, Open Solutions said.
PFF Bancorp (PFB: news, chart, profile), a California-based bank holding company, said late Friday that its fiscal first-quarter net income rose 16 percent. Total net assets declined to $3.64 billion as mortgage-backed securities fell by about $34 million. Net income was $10.8 million, or 64 cents a share, vs. $9.3 million, or 57 cents, in the same quarter a year earlier.
Pinnacle Financial Partners (PNFP: news, chart, profile), a Tennessee-based bank holding company, said late Friday that it filed to sell up to 850,000 shares, with an overallotment provision for up to 127,500 more shares. If all the shares are sold, it would increase the present 7.4 million shares outstanding by about 13 percent.
ProsoftTraining (POSO: news, chart, profile), which provides job training in offices, and Trinity Learning (TTYL: news, chart, profile), another workplace trainer, said late Friday that their merger agreement has been terminated. No details were disclosed.
Reinsurance Group of America (RGA: news, chart, profile), a life insurance reinsurer, said late Friday that its board named Leland Launer Jr. as chairman, replacing Stewart Nagler, who retired.
Quanta Services (PWR: news, chart, profile), which builds electric-power grids and installs other network hardware, cut its forecast for the second quarter late Friday, citing the "continued suppressed state of the electric utility industry."
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