expects fourth-quarter earnings of 4 cents to 6 cents a share and revenue of $367.8 million. Analysts are looking for income of 4 cents on revenue of $358.2 million. The company also set plans to cut 10% of its workforce and to take a charge of about $1.7 billion to reduce goodwill.
Morgan Stanley expects the next semiconductor equipment cycle to begin late in the first quarter or early in the second quarter, though the firm sees the possibility of a near-term pullback. As a result, the firm raised its price target on
ABN Amro upgraded
to buy from add. The firm said the company would be profitable if it exited the media business and set the midpoint of its valuation range on the stock at $14.
is planning to offer $125 million of five-year convertible senior notes. The company will use the proceeds from the offering to reduce other debt.
will be added to the Nasdaq Biotechnology Index Nov. 19.
will use the company's Mobility Radeon graphics processor for the new Presario 2700 notebook personal computer.
extended its supply agreement with
. Under the terms of the deal, McKesson will be awarded the pharmaceutical repackaging business previously managed by Wal-Mart.
will serve as one of the equipment suppliers for Mexican carrier Alestra, which is developing a packet-based voice network. Alestra is a joint venture between
and two Mexican financial and industrial institutions.
said Chief Financial Officer Kevin McDonnell will leave the company in April for personal reasons.
After Friday's Close
agreed to acquire
for more than $8 billion. The deal has the smaller Dynegy acquiring Enron in an all-stock transaction, giving Enron shareholders 0.2685 shares of Dynegy stock for each share of Enron. That puts the deal at just over $10.40 for each Enron share. To make the agreement less taxing on Dynegy's balance sheet,
, which currently holds a 26.5% interest in Dynegy, has agreed to provide an additional $2.5 billion in equity capital to Dynegy.