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American Family Life Assurance (AFLAC) (AFL: news, msgs) and Dai-ichi Mutual Life Insurance Co., Japan's second-biggest life insurer, agreed to form an alliance to market each other's products Thursday. The deal will initially focus on the marketing of AFLAC's supplemental insurance products through Dai-ichi's sales force beginning in the second half of fiscal 2001. AFLAC shares rose $2.63, or 4.8 percent, to $57.50.
C-Cor.net (CCBL: news, msgs) said it knows of no reason relating to its operations that would account for the recent unusual volume and price activity in its stock. The company is comfortable with the consensus estimate for fiscal year 2001 and its outlook has not changed. The company reported fiscal 2000 results last month. At that time, backlog was $89.3 million, compared to $73 million at the end of the previous fiscal year. The State College, Penn.-based company manufactures network distribution products for hybrid fiber coaxial networks. Shares closed up $2.06, or 13 percent, to $18.63.
Commerce One (CMRC: news, msgs) jumped $7.81, or 13 percent, to $70.50 after the company announced plans to expand its strategic alliance with Intershop Communications. The companies plan to link suppliers to use Intershop-based producs to fully leverage Commerce One MarketSite.net global marketplace. Coomerce One noted that the agreement is a preliminary, non-binding memorandum of understanding. The companies expect definitive agreements to be executed in the fourth quarter.
FuelCell Energy (FCEL: news, msgs)catapulted $14.81, or 12 percent higher, to $139.81. The stock made a new 52-week high of $142.63 in intraday trading. Joseph Mahler, FuelCell's chief financial officer, told CBS.MarketWatch.com that he did not know of any news to account for the day's activity in the company's stock. Mahler did note that the stock has been rallying of late, and added the company developed technology with positive environmental characteristics with high efficiency. In the last 2 months, FCEL has bounded 86 percent higher.
Genzyme General (GENZ: news, msgs) surged $4.81, or 7.8 percent, to $66.19.. The Cambridge, Mass., firm said late Wednesday that it's "pleased" with the results of its clinical trials of Fabrazyme, an enzyme replacement therapy for Fabry disease. Genzyme expressed confidence that the data will provide "a very strong foundation for marketing approval" from the Food and Drug Administration.
Immunogen (IMGN: news, msgs) shares set a new 52-week high Thursday. Coverage was initiated by SG Cowen with a "strong buy" recommendation. The biotech company's shares jumped $3.50, or 20 percent, to $21.13. The previous high of $20.50 was set on Feb. 17. Just over a year ago, on Sept. 17, shares were at a low of $1.75.
LanOptics (LNOP: news, msgs) bulled $7.09, or 32 percent forward, to $28.75, in late trading Thursday. Volume in the Israel-based company is 8.9 million, which is nearly 80 times the daily average. The company was placed on the Gilder Technology Report's "Telecosm" list, which is a list of companies expected to benefit from technology "on the rise." Through its EZchip Technologies subsidiary, the company makes network processors, which are chips that can adjust to new applications.
Late Wednesday, Micromuse (MUSE: news, msgs) agreed to provide its Netcool end-to-end monitoring software package to Samsung Electronics for inclusion in its data center product. Financial terms of the deal weren't disclosed. Shares of the San Francisco software firm added $12.19, or 7.6 percent, to $171.88.
National Semiconductor (NSM: news, msgs) advanced $2.31, or 5.1 percent, to $46.81. The company announced first quarter net income of $149.4 million, or 76 cents per share, compared with $47.1 million, or 25 cents per share. Analysts surveyed by First Call expected earnings of 65 cents per share. Revenue was $640.8 million compared with $481.8 million for the same quarter last year. National continues to target sequential sales growth of 6 to 8 percent in the November quarter and mid-30 percent growth year-over-year. Shares were halted up $1.44, or 3.2 percent, to $45.94.
Shares of Nextel Communications (NXTL: news, msgs) rose $2.94, or 5.9 percent, to $53. Citing people familiar with the matter, The Wall Street Journal reported Thursday that AT&T Wireless (AWE: news, msgs) plans to discuss a combination and other strategic options with Nextel, at a board meeting later this month. AT&T Wireless, a tracking stock of parent AT&T (T: news, msgs) slipped 44 cents, or 1.7 percent, to $25.06.
Optika (OPTK: news, msgs) soared $1.97, or 49 percent, to $6. The Colorado Springs, Colo., provider of business-to-business e-commerce software products formed strategic alliances with Xerox's (XRX: news, msgs) information technology consulting services unit and webMethods (WEBM: news, msgs).
Quiksilver (ZQK: news, msgs) rose $3.75, or 22 percent, to $18.13 after the Huntington Beach, Calif., apparel maker reported third-quarter earnings of $6.7 million, or 29 cents a share, up from last year's profit of $5.6 million, or 24 cents a share, and in line with the average estimate of analysts polled by First Call. Sales rose 16 percent in the latest three months to $122 million from $105.2 million in the same period a year earlier.
Shares of Read-Rite (RDRT: news, msgs) soared $2.75, or 36 percent, to $10.62 on news that it's formed an optical fiber unit, Scion Photonics. The company started Scion with $25 million in initial funding from Tyco Ventures, the venture capital unit of Tyco International (TYC: news, msgs), and Integral Capital Partners. Read-Rite also disclosed it's in talks with "several other interested parties" for further technology and capital investments in Scion.
Ursus Telecom (UTCC: news, msgs) said Thursday that its Starcom SA unit has received a license of unlimited duration to provide national and international long distance services in Argentina. Ursus said only 10 carriers have full authority to provide long distance services throughout Argentina. On Wednesday, Ursus said it has successfully doubled its capacity to Latin America in anticipation of deregulation in November. Ursus advanced 94 cents, or 21 percent, to $5.44, in late afternoon action.
Virage (VRGE: news, msgs) said its Internet video application platform will be used by Microsoft's Internet media production and archive group. Financial terms of the deal weren't disclosed. Shares of Virage jumped $1.75, or 14 percent, to $14.50.
Viragen (VRA: news, msgs) zoomed 44 cents, or 32 percent, higher to $1.81. The Plantation, Fla., firm said Thursday that it's been granted an worldwide exclusive license to develop a new cancer vaccine, based on technology developed by the U.K.'s Cancer Research Campaign Technology. CRCT has filed a patent on the technology, covering the territories of the U.S., Europe, Canada, Japan, Australia and New Zealand.
Vital Signs (VITL: news, msgs) announced the receipt of a 510(k) clearance by the Food and Drug Administration to market its Breas CPAP device for obstructive sleep apnea. This clearance allows the company to treat |
