will likely sell its fiber unit for less than the $2.75 billion price agreed to in a deal with Furukawa Electric,
, according to
The Wall Street Journal
. The two sides are talking about reducing the price by 10%, although a specific agreement hasn't been reached.
Earnings Reports & Warnings
projected fourth-quarter earnings of about a penny a share, excluding items, with revenue of $306 million. Analysts are expecting the company to break even. The company also set plans to reduce its total workforce by 19%, or about 1,400 positions.
Kulicke & Soffa
posted a fourth-quarter loss, excluding numerous costs and items, of 18 cents a share, 3 cents ahead of First Call estimates. The company forecast first-quarter revenue of $100 million to $110 million.
is suspending the payment of a quarterly cash dividend and is pursuing the possible sale of $3 billion in higher-risk credit card receivables. Salomon Smith Barney and Goldman Sachs have agreed to securitize at least $900 million of Providian's credit card receivables. The credit card issuer also withdrew its earnings guidance for the fourth quarter and 2002.
priced an offering of 5 million shares at $24 each.
signed an underwriting agreement that will result in the sale of 4 million common shares covered by a shelf registration statement. The company expects proceeds of about $82.8 million before offering expenses.
AOL Europe, a division of
AOL Time Warner
, and Monster.com, a unit of
, struck a deal to provide members of AOL Europe's properties in the U.K., France and Germany with the job hunting Web site's career management tools and resources.
signed an agreement to distribute
line of ProLiant servers and StorageWorks enterprise storage products in the U.S.
Novartis Pharmaceuticals, a division of
said the Food and Drug Administration granted marketing approval for dexmethylphenidate HCl for treating attention-deficit/hyperactivity disorder. The trade name for the drug, a refined formulation of Ritalin, is being finalized. Novartis Pharma AG licensed the worldwide marketing rights, excluding Canada, to dexmethylphenidate HCl and all related intellectual property and patents from Celgene.
named John A. Ryan, formerly president and chief executive of
, to the positions of chairman, president and CEO.