(Premarket roundup updated with KB Home earnings results and updated share price movements.)
NEW YORK (TheStreet) --
Xoma ( XOMA) released disappointing interim results Thursday from a phase IIa study of Xoma 052 in Type 2 diabetes. Xoma fell 10% to $6.10.
Sara Lee ( SLE) will follow through on plans to split its meat and coffee businesses into two separate companies after turning down Brazilian beef processor JBS SA's buyout offer, a report says. Premarket quotes were unavailable for Sara Lee. Shares of Sara Lee ended Thursday's trading session flat at $17.46.
Liz Claiborne ( LIZ) slashed its profit outlook following a weak December for its Lucky Brand, Juicy Couture and Mexx Europe brands. Liz Claiborne said it now projects the improvement in its adjusted operating income at $40 million to $50 million for the second half of fiscal 2010, which ended in December. Its previous view called for an improvement of $80 million. Shares of Liz Claiborne tumbled 18.8% to $5.60 in premarket trading.
Saba Software ( SABA) reported disappointing quarterly results. The company posted a non-GAAP
American International Group ( AIG) agreed to pay $450 million to resolve legal disputes with competitors, according to the Wall Street Journal. The company announced on Friday that its board declared a dividend of about 75 million warrants to buy shares of AIG common stock at $45 a share, to be distributed to shareholders on Jan. 19. AIG was higher by **3.3% to $62.43** in premarket trading.
3M ( MMM) CEO George Buckley says it has been "imperative" for him to find a successor from within the company. "It was a self-imposed imperative to make sure that when I eventually retire from the company that the next person that was appointed would be an internal person," said Buckley, according to Bloomberg. 3M stock rose 0.8% to $86.83. >>Search for Highest Dividends by Rate or Yield
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