An advisory panel to the
Food and Drug Administration
recommended approval with conditions of
new wearable glucose monitoring system for diabetics, the first such device.
said it's considering selling its Manhattan headquarters, located at 32 Avenue of the Americas, in a sale-leaseback transaction that could yield up to $150 million.
In other postclose news (earnings estimates from
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
reported a fourth-quarter loss of 82 cents a share, wider than the eight-analyst forecast for a loss of 48 cents and the year-ago loss of 49 cents.
reported fourth-quarter earning of 4 cents a share, missing the two-analyst forecast by 2 cents but moving ahead of the year-ago loss of 7 cents. The company also said it hired
to help it review strategic alternatives, including an acquisition of the company.
Smart Choice Automotive
said its 1998 net income of 68 cents a share probably was overstated because of various noncash related accounting issues.
Mergers, acquisitions and joint ventures
said it sold about 30% of its stake in
for about $4.7 million in a stock offering. Air Express said it will record a first-quarter gain of 14 cents a share from the sale.
said it's committed to its planned merger with
filed a lawsuit claiming the merger would violate a contract between AlliedSignal and Coltec and violate antitrust laws.
it's willing to acquire the company's direct broadcast satellite assets for $600 million, including assumed liabilities.
said it will record a $1.7 million first-quarter charge from a $44 million insurance claim reserve at
, in which Minnesota Power has a 21% stake.
said it adopted a shareholder rights plan with a 15% trigger but that it was not aware of any takeover attempt.
said it's raising all of its noncontract car rental prices in the U.S. by $3 a day.
also adopted a shareholder rights plan with a 15% trigger.