Today’s trading was almost a replay of yesterday’s. For the second day in a row a good sized rally fizzled in the afternoon. In fact, rallies fizzled twice today — the opening gap got faded, then we got a strong bounce which got faded. Here’s a shot of the QQQQ’s intraday […]
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SAN FRANCISCO (MarketWatch) — Arbitron Inc. said late Tuesday Clear Channel Radio, a division of Clear Channel Communications Inc. , has signed a multi-year agreement for portable people meter radio ratings services in 46 markets. Financial terms of the deal, which expires at the end of 2011, were not disclosed. Arbitron said the agreement encompasses all Clear Channel radio stations in those markets that Arbitron has converted or is planning to convert to the people meter ratings methodology by the end of 2010. Arbitron expects to deploy the meters in the top 50 radio markets by the end of 2010, replacing the paper and pencil diary method.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) — Nuvelo Inc. said late Tuesday that it will resume development of alfimeprase, an investigational treatment for multiple blood clot-related disorders, in the second half of the year. The company also said that it and a Bayer unit have terminated their collaboration agreement. Nuvelo will receive $15 million for waiving notification terms for Bayer HealthCare, but it has granted Bayer one-time options to reacquire rights to alfimeprase upon the initiation of a pivotal stroke trial. Nuvelo also said that it doesn’t expect to exceed its previous forecast for operating expenses and net cash in operating activities of $30 million to $35 million for the first half of 2007. 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) — Topps Co. said late Tuesday the Upper Deck Co.’s subsidiary, UD Co., has launched a tender offer to purchase all of Topps’ outstanding shares for $10.75 each in cash. New York-based Topps, a creator and marketer of sports cards and entertainment products, said it plans to review the Upper Deck offer and issue a recommendation by July 9. On March 5, Topps agreed to be acquired by the Tornante Co. LLC and Madison Dearborn Partners LLC for $9.75 a share in cash, and Topps said its board has not changed its recommendation with respect to the offer.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) — Ennis Inc. late Tuesday reported first-quarter net earnings of $10.8 million, or 42 cents a share, down from $11.3 million, or 44 cents a share, in the year-ago period. The Midlothian, Texas-based business forms producer said revenue in the three months ended May 31 rose 5.3% to $152.8 million from $145.1 million in the comparable period last year.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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Courtesy of successful acquisitions, the enterprise software giant reports a 23% pop in fourt-quarter profit.
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Bernard Ho, a former Hawaii Medical Service Association executive, has been named president and CEO of Damien Memorial School.
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Scientific Brain Training said on Tuesday it has acquired all of the outstanding shares of privately held Quixit Inc., which is being renamed HappyNeuron Inc.
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Shares in Cosco Holdings nearly doubled on their first day of trading in Shanghai after China’s largest shipping group received record subscriptions for its $2bn offering.
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Blackstone, the recently listed private equity company slumped sharply and closed below its issue price, while the broad market again slipped in late trade.
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