Morgan Stanley
Cogdell Spencer Inc. (NYSE: CSA) 16.8% LOWER; commenced an underwritten public offering of 18,000,000 shares of common stock. Cogdell Spencer also plans to grant the underwriters an option to purchase up to an additional 2,700,000 shares of common stock. Citi and KeyBanc Capital Markets are acting as joint book-running managers. The Company intends to use the net proceeds from the offering to fund a $50 million repayment under Erdman's senior secured term loan, to reduce borrowings under the secured revolving credit facility and for working capital purposes.
Borders Group Inc. (NYSE: BGP) 12% HIGHER; reports Q1 loss of $0.27, versus the analyst estimate of ($0.50). Revenue for the quarter was $641.5 ...
Silicon Graphics, Inc. (NASDAQ: SGIC) 73% LOWER; Rackable Systems, Inc. (NASDAQ: RACK) today announced its agreement to acquire substantially all the assets of Silicon Graphics for approximately $25 million in cash, subject to adjustment in certain circumstances, plus the assumption of certain liabilities associated with the acquired assets. Click here for the full report.
Sonic Automotive (NYSE: SAH) 31.3% LOWER; reports Q4 loss from continuing operations of $16.43. Adjusting for charges, the company reported a loss of $0.12, compared to a gain of $0.62 in the same quarter last year. Revenue for the quarter was $1.255 billion, versus the consensus of $1.46 billion. Also said it won't provide guidance and that its auditors issued a "going concern" statement.
Targeted Genetics (Nasdaq: TGEN) 29.3% LOWER; reports Q4 loss of $0.54, compared to a loss of $0.26 in the same quarter last year.
Sealy Corp. (NYSE: ZZ) 24.2% HIGHER ...
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Cell Genesys, Inc. (Nasdaq: CEGE) 75% LOWER; terminated VITAL-2, the second of two Phase 3 clinical trials of GVAX immunotherapy for prostate cancer, which compares GVAX immunotherapy in combination with Taxotere(R) (docetaxel) to Taxotere plus prednisone in patients with advanced-stage prostate cancer. The Company ended the trial as recommended by its Independent Data Monitoring Committee (IDMC) which, in a routine safety review meeting held this week, observed an imbalance in deaths between the two treatment arms of the study.
NexMed, Inc. (Nasdaq: NEXM) 75% LOWER; announced that based on First Interpretable Results of Phase III clinical studies for NM100060, a topical application of terbinafine formulated with NexACT(R) for the treatment of onychomycosis, the decision has been taken not to submit a New Drug Application with the Food and Drug Administration at this time.
SI International, Inc. (Nasdaq: SINT) 37% HIGHER; Serco Inc., the U.S.-based division of leading ...
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MBA Mortgage Applications are expected at 7AM ET
Discover Financial (NYSE: DFS) is expected to report results before the open Wednesday with analysts looking for EPS of $0.40 and revenues of $983.75 million.
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