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EC Committee Gives Thumbs Down to Trovan, Ending Bad Week for Pfizer

Shares of

Pfizer

(PFE) - Get Pfizer Inc. Report

slipped 1/4 to 97 in after-hours trading following news that a committee of the

European Commission

recommended suspending marketing approval for the company's lately maligned antibiotic

Trovan

. On Wednesday, the drug maker said the

Food and Drug Administration

urged physicians to limit prescriptions for Trovan after 14 cases of acute liver failure were strongly associated with the drug. As analysts downgraded the stock and estimates for Trovan sales were slashed, PFE recorded a 14.8% loss for the week.

In other postclose news (earnings estimates from

First Call

; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews

Exide

(EX)

reported a fourth-quarter loss of $3.76 a share, including charges. The five-analyst outlook called for an operating loss of 61 cents vs. the year-ago loss of 25 cents.

Offerings and stock actions

Borg-Warner Security

TheStreet Recommends

(BOR)

said a group of

Merrill Lynch

-affiliated entities plans to sell up to 4.8 million of its remaining shares of the company's stock in an underwritten secondary offering. Borg-Warner also said it plans to close its purchase of 4.4 million of its shares from the Merrill group June 14.

Central Garden & Pet

(CENT) - Get Central Garden & Pet Company Report

boosted its current buyback program to $105 million from $80 million.

Emcore

(EMKR) - Get EMCORE Corporation Report

priced a planned 4.5 million-share secondary offering at 19 a share.

Minimed

(MNMD)

filed for a 2.25 million-share offering.

Miscellany

Connecticut Energy's

(CNE)

Southern Connecticut Gas

unit filed for an increase of 10.56%, or $24.2 million, in its base rates.