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Date: 05 September 2003
By Bloomberg News
Bloomberg News
Marathon Oil Corp plans to cut 265 jobs, mostly at its Houston headquarters, and will close its Denver office to save more than $65 million per year (S)
Date: 06 September 2003
By Bloomberg News
Bloomberg News
Food and Drug Administration advisory committee votes to recommand that FDA reject application by GlaxoSmithKline for approval of emphysema drug Ariflo (S)
Date: 06 September 2003
By Bloomberg News
Bloomberg News
Andrx Corp says Pfizer Inc agrees to drop patent-infringement lawsuit so that Andrx can introduce tgeneric version of diabetes drug Glucotrol XL; says it will get royalty-free sublicense under patents owned by Johnson & Johnson's Alza unit and licensed to Pfizer; Pfizer also agrees to supply Andrx with all strengths of Glucotrol by Jan 1 so Andrx can sell it as generic drug (S)
Date: 05 September 2003
By Bloomberg News
Bloomberg News
PolyMedica Corp says Securities and Exchange Commission has affirmed company's accounting practices and that it will not have to restate earnings (S)
Date: 05 September 2003
By Bloomberg News
Bloomberg News
Forstmann Little & Co sells its remaining stake in Yankee Candle Co to Goldman Sachs Group for $216.6 million; Forstmann paid $497 million in 1998 for 90 percent stake in Yankee Candle (S)
Date: 06 September 2003
By Bloomberg News
Bloomberg News
Used car retailer CarMax reports 6 percent increase in sales for quarter ended August 31, smaller gain than originally forecast (S)
Date: 05 September 2003
By Bloomberg News
Bloomberg News
Callaway Golf Co wins bankruptcy court approval to proceed with its purchase of Top-Flite Co after outbidding Adidas-Salomon; will pay $169 million for assets of Top-Flite, unit of Spalding Holdings Corp; Top-Flite and its parent filed for bankruptcy in June (S)
Date: 05 September 2003
By Bloomberg News
Bloomberg News
Labor Department says productivity grew at 6.8 percent annual rate in April-June period, triple first-quarter pace; reports initial jobless claims rose last week to 413,000, highest in more than month; four-week moving average rose to 401,500; Commerce Department reports factory orders rose 1.6 percent in July, third consecutive increase; increase to $329.4 billion comes after revised 1.9 percent gain in June (M)
Date: 05 September 2003
By Bloomberg News
Bloomberg News
Retailers including Wal-Mart Stores and Target post surprising sales gains for August as tax rebates led to purchases of back-to-school merchandise; Wal-Mart says sales at US stores open at least year rose 6.9 percent from year earlier; sales at J C Penney rose 6.5 percent; Target had 5.7 percent increase; Bank of Tokyo-Mitsubishi Ltd figures show sales at retailers increased 5.1 percent in August; sales at Gap Inc rose 4 percent, less than expected; sales at Sears, Roebuck & Co rose 3.9 percent, first monthly increase in two years (S)
Date: 05 September 2003
By Bloomberg News
Bloomberg News
PeopleSoft Inc, fending off Oracle Corp's $7.25 billion hostile bid, says its recent purchase of J D Edwards & Co will add more to profit than previously forecast and that company will cut as many as 1,000 jobs; chief financial officer Kevin Parker comments (M)