Market Gawk

Founder of tech outsourcer will allow the company to look for other buyers.

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Tax-preparation company looks like a buyout candidate once it dumps subprime mortgage unit.

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Q1 sales boost ahead of price rise saps Q2 outlook.

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The New York Stock Exchange eased restrictions on floor traders Monday, allowing them to execute trades for stocks listed on other markets and aiding the market in maintaining its position against competitors.

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SAN FRANCISCO (MarketWatch) — Photronics Inc. said Monday it has finalized a new $125 million, five-year credit facility. JPMorgan Chase Bank will serve as administrative agent and collateral agent for the credit facility, the company said. Brookfield, Conn.-based Photronics is a manufacturer of photomasks, which are high precision quartz plates that contain microscopic images of electronic circuits.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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WASHINGTON (MarketWatch) — The Treasury Department will release its semiannual report about global exchange rate policies on Wednesday at 10 a.m. Eastern, a spokeswoman said Monday. The Bush administration has been under pressure to label China a manipulator of its currency, the yuan. The report comes shortly after Beijing decided to widen the yuan’s trading band against the dollar. But it also follows two days of talks between U.S. and Chinese officials that yielded no progress on reforming China’s foreign exchange policy. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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SAN FRANCISCO (MarketWatch) — Princeton Review Inc. said Monday Chairman Howard Tullman has resigned, effective immediately. The New York-based tutoring and test preparation company said Chief Executive John Katzman will assume the responsibilities of chairman. Katzman previously served as chairman from 1981 until November of 2006. Princeton Review shares rose 2.2% to $5.95 in Monday morning trade.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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LONDON (MarketWatch) — Societe Generale , the French bank that’s reportedly either a target for UniCredit or a suitor for BNP Paribas , repeated a statement from CEO Daniel Bouton that a ”transforming operation is neither necessary nor urgent.” It said it won’t comment on market speculation.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Archemix Corp. said Monday it has formed a strategic alliance with Merck Serono, a division of German-based Merck KGaA, to discover, develop and commercialize first-in-class aptamer therapeutics that will be used as cancer treatments.

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The British firm’s purchase of a plastics company signals further consolidation in the industry, but the market isn’t sure how to react.

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