agreed to acquire
in a stock swap valued at $680 million. According to the deal, Abbott will issue $54 in shares for each Perclose share.
on a date yet to be announced.
, a Dutch firm, is acquiring Transamerica.
will replace Qualcomm in the
S&P MidCap 400 Index
Ouflow from U.S. equity funds for the week ended yesterday totaled $186 million, with the majority coming from small-cap funds, according to
AMG Data Services
. International equity funds reported outflow, while emerging market sectors recorded inflow. Among other categories, $1.74 billion flowed into taxable bond funds, the largest amount since February. Municipal bond funds posted inflow of $183 million and money markets posted inflow of $30.12 billion.
In other postclose news (earnings estimates from
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
said it sees second-quarter earnings of 30 cents a share because of weak sales in Asia and Europe. The four-analyst estimate called for 39 cents vs. the year-earlier 34 cents.
said it expects to post second-quarter results of break-even to earnings of 2 cents a share, below the 20-analyst prediction of 10 cents and the year-ago 16 cents. The company blamed a shortfall in systems revenue.
said it sees a first-quarter loss wider than its fourth-quarter loss of 23 cents a share, citing weak market conditions for hard disks. The four-analyst view called for a loss of 22 cents vs. the year-ago earnings of 3 cents.
Jones Lang LaSalle
said it sees a second-quarter loss, blaming in part the performance of its U.S. management services businesses. The two-analyst estimate called for earnings of 19 cents a share vs. the year-ago 45 cents.
said it will post second-quarter earnings 3 cents to 4 cents a share below the single-analyst forecast of 27 cents due to weaker-than-expected sales and an unplanned expense of $1.5 million to implement an information system. The company made 27 cents a share in the year-ago period.
said it expects to report third-quarter earnings of 29 cents to 30 cents a share due to a continued slowdown in sales and delays in completing several licensing agreements. The eight-analyst forecast called for 35 cents vs. the year-ago 29 cents.
In other earnings news:
Offerings and stock actions
Ford Motor Credit
increased the size of its bond offering to $7.5 billion from $6.5 billion.
(LQID:Nasdaq) 4.2 million-share IPO above range at $15. The software company's products enable digital delivery of music over the Internet.
said it will merge its TV production unit with its
network's prime time broadcast group into a single unit, ABC Entertainment Television Group.
said it's recalling about 935,000 1996-98 Civic small cars to fix sliding driver-side floor mats that could interfere with the accelerator pedal.
Business Week's Inside Wall Street
column talks up
as a potential takeover target, with a global telecom giant playing the role of acquirer in Gene Marcial's world. The rumor man also works his bullish voodoo on
, arguing it's ripe for
, saying it's a good global-recovery play.