(Reuters) - WASHINGTON, April 9 - Johnson & Johnson's bladder drug Ditropan needs stronger cautions about the risk of hallucination and similar problems in children and older patients, U.S. Food and Drug Administration staff said in documents released on Monday.
The drug, also known as oxybutynin, already lists insomnia, nervousness, confusion and other central nervous system risks on its label, but staff reviewers said more explicit cautions are needed.
Read more at Reuters.com Government Filings News
Monday, April 9, 2007
AMD sees revenue shortfall, cuts spending plans
(Reuters) - "AMD is signaling that it is focusing more on nearer-term profitability as opposed to targeting market share," said JoAnne Feeney, managing director with FTN Midwest Securities.
"People were concerned about that strategy," Feeney said.
Read more at Reuters.com Business News
"People were concerned about that strategy," Feeney said.
Read more at Reuters.com Business News
UPDATE 1-U.S. winter wheat farmers fret after weekend freeze
(Reuters) - KANSAS CITY, Mo., April 9 - A mild winter and a wet and warm start to spring had many U.S. wheat industry players predicting a bountiful summer harvest.
But that changed over the weekend when unseasonable freezing temperatures blanketed the U.S. Plains and Midwest winter wheat growing areas, killing off some of the rapidly maturing plants.
Read more at Reuters.com Bonds News
But that changed over the weekend when unseasonable freezing temperatures blanketed the U.S. Plains and Midwest winter wheat growing areas, killing off some of the rapidly maturing plants.
Read more at Reuters.com Bonds News
UPDATE 2-NextWave Wireless to buy IPWireless
(Reuters) - NEW YORK, April 9 - NextWave Wireless Inc. said it will buy privately held IPWireless Inc. for about $100 million in cash and stock, giving it technology to support a new generation of mobile broadband networks.
NextWave, a wireless technology developer and owner of wireless airwaves, said it could pay another $135 million in cash and stock based on the achievement of certain revenue milestones in 2007 to 2009.
Read more at Reuters.com Mergers News
NextWave, a wireless technology developer and owner of wireless airwaves, said it could pay another $135 million in cash and stock based on the achievement of certain revenue milestones in 2007 to 2009.
Read more at Reuters.com Mergers News
UPDATE 1-Boston Scientific notifies doctors of ICD battery issue
(Reuters) - CHICAGO, April 9 - Boston Scientific Corp. has notified doctors that some of its implantable heart defibrillators contain batteries that could deplete early, shortening the life span of the devices.
There have been no patient deaths or serious injuries associated with the battery voltage problem, the company said in a letter to doctors dated April 5 and posted on the Web site of its Guidant unit.
Read more at Reuters.com Government Filings News
There have been no patient deaths or serious injuries associated with the battery voltage problem, the company said in a letter to doctors dated April 5 and posted on the Web site of its Guidant unit.
Read more at Reuters.com Government Filings News
Proxy firm urges Genesis investors to reject deal
(Reuters) - Genesis, which agreed in January to be acquired by Formation Capital LLC and JER Partners for $63 per share, said it strongly disagreed with ISS's recommendation.
"In recommending a vote against the proposal, ISS is asking shareholders to forego the certainty of a $63 all-cash offer for the uncertainty of an unknown alternative," Genesis said in a statement.
Read more at Reuters.com Mergers News
"In recommending a vote against the proposal, ISS is asking shareholders to forego the certainty of a $63 all-cash offer for the uncertainty of an unknown alternative," Genesis said in a statement.
Read more at Reuters.com Mergers News
US STOCKS-Indexes end flat on deals; Dow Chemical denies talk
(Reuters) - NEW YORK, April 9 - U.S. stocks closed flat on Monday as news that billionaire investor Warren Buffett had bought stakes in the railroad sector and strong jobs data offset worries about earnings and subprime loans.
The transport sector rallied after Buffett acquired a stake in three railroad companies in a vote of confidence for not only railroads, but the economy. Shares of Burlington Northern Santa Fe Corp. jumped after Buffett's Berkshire Hathaway Inc. said it acquired a 10.9 percent stake in the company to become its largest shareholder.
Read more at Reuters.com Bonds News
The transport sector rallied after Buffett acquired a stake in three railroad companies in a vote of confidence for not only railroads, but the economy. Shares of Burlington Northern Santa Fe Corp. jumped after Buffett's Berkshire Hathaway Inc. said it acquired a 10.9 percent stake in the company to become its largest shareholder.
Read more at Reuters.com Bonds News
Offer for Mexico's Asur seen ready within weeks
(Reuters) - Fernando Chico Pardo told Reuters in a phone interview that once the 56-peso-per-share offer for the stake in Asur is launched, it will last for 20 days.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Nasdaq says Dell is out of compliance: company
(Reuters) - Earlier, Dell said Nasdaq would stay any future action to delist the company's common stock, pending further review.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Copper shines, but others turn lower
(Reuters) - Commodity markets were shut on Good Friday.
The May copper contract rallied 12.90 cents, or 3.8 percent, to settle at $3.5060 a lb on the New York Mercantile Exchange's COMEX division, after dealing from an overnight low of $3.3625 to a session peak of $3.5340 -- its priciest since early September.
Read more at Reuters.com Hot Stocks News
The May copper contract rallied 12.90 cents, or 3.8 percent, to settle at $3.5060 a lb on the New York Mercantile Exchange's COMEX division, after dealing from an overnight low of $3.3625 to a session peak of $3.5340 -- its priciest since early September.
Read more at Reuters.com Hot Stocks News
UPDATE 2-US military drafts anti-predatory lending rules
(Reuters) - WASHINGTON, April 9 - The U.S. Defense Department will propose curbs on what it considers predatory lending to military service members and their families such as payday loans, car title lending and tax refund anticipation loans, a draft of the proposal showed.
"A major concern of the department has been the debt trap some forms of credit can present for service members and their families already burdened with debt and recurring bills," the Pentagon said in its proposal.
Read more at Reuters.com Government Filings News
"A major concern of the department has been the debt trap some forms of credit can present for service members and their families already burdened with debt and recurring bills," the Pentagon said in its proposal.
Read more at Reuters.com Government Filings News
UPDATE 1-Mexico inflation stays unabated in March
(Reuters) - Mexican consumer prices rose 0.22 percent in March, the central bank said on Monday, slightly above the 0.19 percent forecast in a Reuters poll.
Closely watched core inflation, which strips out volatile food and energy prices, was 0.32 percent in March, in line with expectations.
Read more at Reuters.com Economic News
Closely watched core inflation, which strips out volatile food and energy prices, was 0.32 percent in March, in line with expectations.
Read more at Reuters.com Economic News
UPDATE 1-Bush seeks momentum for immigration overhaul
(Reuters) - YUMA, Ariz., April 9 - His chances for domestic policy wins dimming and overshadowed by debate over Iraq, President George W. Bush visited the U.S.-Mexican border on Monday to demand that lawmakers work with him to overhaul immigration law.
Standing along the border on a hot day, Bush saw a new double-layer of fencing that Border Patrol officials say has cut attempted crossings by illegal immigrants in the past year.
Read more at Reuters.com Bonds News
Standing along the border on a hot day, Bush saw a new double-layer of fencing that Border Patrol officials say has cut attempted crossings by illegal immigrants in the past year.
Read more at Reuters.com Bonds News
Gold drops as oil slides, dollar firms
(Reuters) - Spot gold was quoted at $670.90/672.40 an ounce by 2:08 p.m. EDT , after hitting a session-high of $677.80, down from $674.40/674.90 in New York on Thursday.
Most-active gold futures for June delivery on the COMEX division of the New York Mercantile Exchange settled down $2.50 at $676.90 an ounce, traded between $675.60 and $683.10.
Read more at Reuters.com Hot Stocks News
Most-active gold futures for June delivery on the COMEX division of the New York Mercantile Exchange settled down $2.50 at $676.90 an ounce, traded between $675.60 and $683.10.
Read more at Reuters.com Hot Stocks News
Target gives president special incentive to stay
(Reuters) - To ensure President Gregg Steinhafel, 52, stays with the retailer as it undergoes succession planning, it said it granted him a special award in June that consisted of stock options and a performance share unit award.
Target said the option grant would become exercisable on the fourth anniversary of the grant date, but Steinhafel would forfeit the entire award if he voluntarily ended his employment at Target before the vesting date.
Read more at Reuters.com Business News
Target said the option grant would become exercisable on the fourth anniversary of the grant date, but Steinhafel would forfeit the entire award if he voluntarily ended his employment at Target before the vesting date.
Read more at Reuters.com Business News
UPDATE 1-Int'l Rectifier says probe finds accounting errors
(Reuters) - Shares of the company fell more than 7 percent to $35.78 in afternoon trade on the New York Stock Exchange.
The audit committee found some material weaknesses in the company's internal control over financial reporting at the unidentified foreign subsidiary, but the extent of the weakness has not yet been determined, the company said in a statement.
Read more at Reuters.com Mergers News
The audit committee found some material weaknesses in the company's internal control over financial reporting at the unidentified foreign subsidiary, but the extent of the weakness has not yet been determined, the company said in a statement.
Read more at Reuters.com Mergers News
Vonage says service continues, believes in appeals
(Reuters) - It also said it will hold a conference call for investors on Thursday. Its shares were down around 11 percent on Monday.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Ruth's Chris reports higher sales from own restaurants
(Reuters) - Company-owned restaurant sales from continuing operations rose 27 percent to $78.1 million from $61.5 million for the year-ago quarter ended March 26, 2006, the restaurant chain said in a statement.
Total revenue from continuing operations, including franchise and other income, is expected to be between $81.3 million and $81.5 million for the first quarter of 2007 compared with $64.7 million for the year-ago period.
Read more at Reuters.com Market News
Total revenue from continuing operations, including franchise and other income, is expected to be between $81.3 million and $81.5 million for the first quarter of 2007 compared with $64.7 million for the year-ago period.
Read more at Reuters.com Market News
Great-West Lifeco to buy U.S. health administrator
(Reuters) - Great-West, one of Canada's largest insurers, said the transaction should be accretive to earnings beginning in 2007.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Dollar stays near 6-week high vs yen after jobs data
(Reuters) - The dollar hovered near a six-week high against the yen in thin trading on Monday after last week's surprisingly strong U.S. jobs data made investors think twice about a near-term U.S. interest rate cut.
The greenback also remained near the top of its recent range against the euro in the first trading session after the release of a report showing the U.S. economy added 180,000 jobs last month, above economists' forecasts.
Read more at Reuters Africa
The greenback also remained near the top of its recent range against the euro in the first trading session after the release of a report showing the U.S. economy added 180,000 jobs last month, above economists' forecasts.
Read more at Reuters Africa
Berkshire Hathaway buys into two other rails-CNBC
(Reuters) - NEW YORK, April 9 - Warren Buffett's Berkshire Hathaway Inc. , which built a 10.9 percent stake in Burlington Northern Santa Fe Corp. , has acquired stakes in two other rail companies, CNBC television said on Monday.
Citing an interview with the billionaire investor, CNBC said Omaha, Nebraska-based Berkshire spent $700 million on one of the additional rail investments and slightly less on the other.
Read more at Reuters.com Mergers News
Citing an interview with the billionaire investor, CNBC said Omaha, Nebraska-based Berkshire spent $700 million on one of the additional rail investments and slightly less on the other.
Read more at Reuters.com Mergers News
UPDATE 1-MedImmune sees 1st-quarter profit nearly tripling
(Reuters) - The Gaithersburg, Maryland-based company said it anticipates first-quarter earnings of 62 cents to 67 cents per share, up from 23 cents a year earlier. The figures exclude share-based compensation expense.
Analysts on average had expected 51 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average had expected 51 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-NextWave Wireless to buy IPWireless
(Reuters) - The company said it would pay up to $135 million more in cash and stock based on the achievement of certain revenue milestones in 2007 to 2009.
Under the terms, NextWave will pay $25 million in cash and $75 million in NextWave common stock at the deal's closing, the wireless broadband mobile products maker said in a statement.
Read more at Reuters.com Mergers News
Under the terms, NextWave will pay $25 million in cash and $75 million in NextWave common stock at the deal's closing, the wireless broadband mobile products maker said in a statement.
Read more at Reuters.com Mergers News
Producers set up working group for gas cooperation
(Reuters) - "The forum in Doha will create a working group that will look into establishing a gas organization," Khelil told reporters. "We want to be certain of the use of this step and not go into anything without studying it."
Later asked by Reuters whether the move would ultimately lead to an OPEC-style group Khelil said: "In the long term, yes. In the long term we are moving towards a gas OPEC... It will take a long time."
Read more at Reuters.com Business News
Later asked by Reuters whether the move would ultimately lead to an OPEC-style group Khelil said: "In the long term, yes. In the long term we are moving towards a gas OPEC... It will take a long time."
Read more at Reuters.com Business News
NextWave Wireless to buy IPWireless
(Reuters) - Under the terms, NextWave will pay $25 million in cash and $75 million in NextWave common stock at the deal's closing, the wireless broadband mobile products maker said in a statement.
The company said additional consideration of up to $135 million will be paid based on the achievement of certain revenue milestones in 2007 to 2009.
Read more at Reuters.com Mergers News
The company said additional consideration of up to $135 million will be paid based on the achievement of certain revenue milestones in 2007 to 2009.
Read more at Reuters.com Mergers News
Medimmune sees 1st -quarter profit nearly tripling
(Reuters) - Analysts on average had expected 51 cents a share, according to Reuters Estimates.
MedImmune said its first-quarter revenue was expected to rise by 11 percent to 12 percent, with net sales growth of 9 percent to 10 percent for Synagis.
Read more at Reuters.com Market News
MedImmune said its first-quarter revenue was expected to rise by 11 percent to 12 percent, with net sales growth of 9 percent to 10 percent for Synagis.
Read more at Reuters.com Market News
US STOCKS-Futures rally on jobs data, M&A news
(Reuters) - NEW YORK, April 9 - U.S. stocks were poised to rally on Monday after a long holiday weekend on signs of stronger-than-expected job growth last month and a report of a possible $50 billion leveraged buyout offer for Dow Chemical Co.
Since the stock market was closed on Good Friday, investors will have the first opportunity to react to Friday's news from the Labor Department that U.S. employers added 180,000 new jobs in March, implying the economy remains durable despite a slowdown in housing.
Read more at Reuters.com Bonds News
Since the stock market was closed on Good Friday, investors will have the first opportunity to react to Friday's news from the Labor Department that U.S. employers added 180,000 new jobs in March, implying the economy remains durable despite a slowdown in housing.
Read more at Reuters.com Bonds News
Citigroup may buy Old Lane hedge fund firm: report
(Reuters) - Citigroup and Old Lane did not immediately return calls seeking comment. Old Lane is thought to have more than $4 billion of assets under management, the newspaper said.
Pandit is a former head of Morgan Stanley's institutional securities division.
Read more at Reuters.com Business News
Pandit is a former head of Morgan Stanley's institutional securities division.
Read more at Reuters.com Business News
Mirant exploring possible sale of company
(Reuters) - Mirant said the exploration of strategic options is not expected to include an acquisition.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Stocks set to rise on jobs data, M&A talk
(Reuters) - In addition, several takeover deals were in the works, including a newspaper report that Dow Chemical Co. may be the target of the biggest leveraged buyout ever.
A consortium of Middle Eastern investors and American buyout firms, including Kohlberg Kravis Roberts, is preparing a $50 billion approach for the chemical company, according to the British tabloid, the Sunday Express.
Read more at Reuters.com Hot Stocks News
A consortium of Middle Eastern investors and American buyout firms, including Kohlberg Kravis Roberts, is preparing a $50 billion approach for the chemical company, according to the British tabloid, the Sunday Express.
Read more at Reuters.com Hot Stocks News
Yahoo to provide music services for Sandisk player
(Reuters) - The device, first introduced in January, is now available for sale in the United States, according to Sandisk, which says it is the No. 2 seller in the U.S. of MP3 players, behind Apple Inc.
Terms of the agreement were not disclosed.
Read more at Reuters.com Business News
Terms of the agreement were not disclosed.
Read more at Reuters.com Business News
Gas powers discuss cartel, but soothe consumer fears
(Reuters) - Host nation Qatar, home to the world's third largest gas reserves, rejected the idea of a cartel and insisted the Gas Exporting Countries Forum would work to keep producers and consumers happy.
"I hate the word cartel," Qatari Energy Minister Abdullah bin Hamad al-Attiyah told reporters as he went into the gas group's first ministerial meeting in two years.
Read more at Reuters.com Business News
"I hate the word cartel," Qatari Energy Minister Abdullah bin Hamad al-Attiyah told reporters as he went into the gas group's first ministerial meeting in two years.
Read more at Reuters.com Business News
Malaysia PM yet to meet Volkswagen chief on Proton
(Reuters) - "I have not seen him yet," Abdullah told reporters in reply to a question whether he had met the chairman of the German carmaker. "He has not made an appearance here. I don't think I can wait too long. I can't be waiting forever."
Pressed further for the date of the meeting, he said, "I will not tell you when."
Read more at Reuters.com Mergers News
Pressed further for the date of the meeting, he said, "I will not tell you when."
Read more at Reuters.com Mergers News
Results for S&P 500 companies seen up 5 percent
(Reuters) - These companies have reported 13 positive forward-looking guidance statements and 38 negative outlooks, yielding a positive-to-negative pre-announcement ratio of 0.34, the survey found.
Through April 9, 29 S&P 500 companies have reported their quarterly earnings. Of these companies, 62.07 percent beat estimates, 20.69 percent missed estimates and 17.24 percent matched estimates, Reuters Estimates said.
Read more at Reuters.com Business News
Through April 9, 29 S&P 500 companies have reported their quarterly earnings. Of these companies, 62.07 percent beat estimates, 20.69 percent missed estimates and 17.24 percent matched estimates, Reuters Estimates said.
Read more at Reuters.com Business News
RPT-Regulator spotlights T.Italia stakes in control debate
(Reuters) - MILAN, April 8 - Italy's market regulator has asked anyone with over 2 percent of Telecom Italia to declare the interest by a Tuesday deadline, Italian newspapers said on Sunday, as speculation swirls over moves to control the company.
Telecom Italia shares were heavily traded last week after AT&T and America Movil said they were in talks with Pirelli to buy a majority of Olimpia, which controls the telecoms company with an 18 percent stake.
Read more at Reuters.com Mergers News
Telecom Italia shares were heavily traded last week after AT&T and America Movil said they were in talks with Pirelli to buy a majority of Olimpia, which controls the telecoms company with an 18 percent stake.
Read more at Reuters.com Mergers News
China's March surplus to see "notable change"
(Reuters) - A top Chinese trade official on Monday predicted a "notable change" in the country's trade data for March after an unexpected surge in the surplus in the first two months of the year.
The surplus in January and February combined unexpectedly tripled from a year earlier to $39.7 billion, handing further ammunition to U.S. critics who say the yuan remains seriously undervalued, giving Chinese exporters an unfair advantage in global markets.
Read more at Reuters Africa
The surplus in January and February combined unexpectedly tripled from a year earlier to $39.7 billion, handing further ammunition to U.S. critics who say the yuan remains seriously undervalued, giving Chinese exporters an unfair advantage in global markets.
Read more at Reuters Africa
Sing dlr hits 9-1/2-yr high, other Asians firm
(Reuters) - The Singapore dollar extended its rally to a fresh 9-1/2-year high on Monday and most other Asian currencies edged up too, shrugging off strength in the U.S. dollar as regional equity markets racked up firm gains.
The dollar held near a six-week high hit against the yen on Friday after data showed U.S. employers added a stronger-than-expected 180,000 new jobs in March and the unemployment rate fell to a five-month low.
Read more at Reuters Africa
The dollar held near a six-week high hit against the yen on Friday after data showed U.S. employers added a stronger-than-expected 180,000 new jobs in March and the unemployment rate fell to a five-month low.
Read more at Reuters Africa
Oil below $64; gasoline worry offsets Iran relief
(Reuters) - Oil fell below $64 a barrel on Monday, extending a decline after Iran released 15 British sailors and marines last week, although concerns over the state of pre-summer U.S. gasoline supplies tempered selling.
U.S. crude fell 43 cents to $63.85 a barrel by 0651 GMT, adding to Thursday's 10-cent drop after markets were closed on Friday for the Easter holiday. London Brent crude was down 33 cents at $67.91, although trading was expected to remain light as many European market remain shut for Easter Monday.
Read more at Reuters Africa
U.S. crude fell 43 cents to $63.85 a barrel by 0651 GMT, adding to Thursday's 10-cent drop after markets were closed on Friday for the Easter holiday. London Brent crude was down 33 cents at $67.91, although trading was expected to remain light as many European market remain shut for Easter Monday.
Read more at Reuters Africa
Dollar pauses near 6-week high after U.S. jobs
(Reuters) - The strong March jobs report on Friday eased concern about the weakening U.S. housing market and signs of softness in U.S. manufacturing.
"The mood of the market is to try further yen weakness against the dollar after the jobs report," said Koji Fukaya, senior currency strategist at Deutsche Bank in Tokyo.
Read more at Reuters.com Hot Stocks News
"The mood of the market is to try further yen weakness against the dollar after the jobs report," said Koji Fukaya, senior currency strategist at Deutsche Bank in Tokyo.
Read more at Reuters.com Hot Stocks News
CORRECTED: Dollar pauses near 6-week high after U.S. jobs
(Reuters) - TOKYO - The dollar paused near a six-week high against the yen on Monday after robust U.S. jobs data reinforced the view that the Federal Reserve may not cut interest rates in the near term.
The strong March jobs report on Friday eased concern about the weakening U.S. housing market and signs of softness in U.S. manufacturing.
Read more at Reuters.com Hot Stocks News
The strong March jobs report on Friday eased concern about the weakening U.S. housing market and signs of softness in U.S. manufacturing.
Read more at Reuters.com Hot Stocks News
UPDATE 1-Coles shareholder backs Wesfarmers bid
(Reuters) - Hedley Group said late on Sunday it agreed to vote its 17.9 million Coles shares -- around 1.5 percent of Coles' stock -- in support of Perth-based Wesfarmers' proposed deal, increasing the building supplies-to-power conglomerate's voting control to 12.8 percent.
Hedley, a property developer, said in a statement it agreed not to support any rival proposal.
Read more at Reuters.com Mergers News
Hedley, a property developer, said in a statement it agreed not to support any rival proposal.
Read more at Reuters.com Mergers News
JGB futures fall to 3-mth low, BOJ meeting in focus
(Reuters) - The benchmark 10-year yield climbed to a seven-week peak as the U.S. employment report on Friday boosted Treasury yields to their highest in over seven weeks.
U.S. government data showed 180,000 non-farm jobs were added in March, topping the consensus forecast of 120,000 and suggesting that economic growth may not be slowing as much as originally thought.
Read more at Reuters.com Bonds News
U.S. government data showed 180,000 non-farm jobs were added in March, topping the consensus forecast of 120,000 and suggesting that economic growth may not be slowing as much as originally thought.
Read more at Reuters.com Bonds News
SABMiller considers $12.8bln bid for brewer S&N-paper
(Reuters) - The maker of Miller Lite and Peroni could make a bid of around 712 pence a share for S&N within days, the Sunday Express quoted sources close to the company as saying.
It would also seek to sell on -- to spirits group Diageo -- the UK arm that makes Britain's biggest selling lager Foster's, John Smith's bitter and Strongbow cider as well as its French business to satisfy industry watchdogs, the report said.
Read more at Reuters.com Business News
It would also seek to sell on -- to spirits group Diageo -- the UK arm that makes Britain's biggest selling lager Foster's, John Smith's bitter and Strongbow cider as well as its French business to satisfy industry watchdogs, the report said.
Read more at Reuters.com Business News
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