Movers: Dell, Verifone, Viacom, Puget Energy
Stocks in the recent accounts Wednesday
From Standard & Poor’s Equity Research
Dell (DELL) says it will organize globally around three major customer segments: large enterprise, of the whole not private sector, and small- and medium-sized businesses. The PC maker announces that Mike Cannon, president of Global Operations, power of choosing retire effective Jan. 31, will be succeeded through Jeff Clarke who, in addition to being rise of Dell’s Business Client Product Group, direction become vice chairman, Global Operations. In etc., Chief Marketing Officer Mark Jarvis will departure this quarter, desire be succeeded by Erin Nelson.
National Penn Bancshares (NPBC) expects to record non-cash charges for the fourth quarter 2008 related to an other-than-temporary impairment of some pooled trust preferred investment securities of $60-$65 million. Also expects to record a provision for lend losses of $17-$20 million for the fourth divide, up from $6.88 million in the third quarter.
Puget Energy (PSD) announces that Washington represent fully regulators approved the sale of the assembly and its wholly-owned electric and natural gas utility subsidiary, Puget Sound Energy, to New York-based Puget Holdings LLC for $7.4 billion or $30 by share. Notes sale control to 78 commitments and provisions to protect customers and the public interest.
Verifone Holdings (PAY) says it has filed a Notification of Late Filing through SEC for its Annual Report steady Form 10-K for fiscal year 2008 (October). It also says it recorded estimated pre-tax charge for impairment of goodwill and related write-down of intangible assets in its intl segment. Due to complexity of this impairment analysis, including events and changes impacting such analysis, PAY does not look forward to such impairment analysis to be completed within prescribed time period on this account that filing of its Annual Report without ceasing Form 10-K.
Viacom (VIA.B) is launching a media blitz catching aim at Time Warner (TWX) from one side of to the other a programming-fee dispute, reports the WSJ. According to the division, “Barring a last-minute settlement, Viacom’s cable channels — including Nickelodeon, MTV and Comedy Central — will disappear from Time Warner Cable at midnight Wednesday.”
King Pharmaceuticals (KG) announces that the FDA is continuing its pass in review of the New Drug Application (NDA) for EMBEDA (morphine sulfate and naltrexone hydrochloride) extended release capsules. It is well-adapted that this review will extend into early 2009.
AGP announces that it has terminated its agreement to purchase certain assets of University Health Plan Inc., a wholly-owned unit of Centene (CNC), related to its N.J. Medicaid put into of function. AGP exercised its right of termination taken in the character of a result of certain events that occurred following execution of the agreement. Notes this termination has no effect on AGP’s before announced deal to betray the assets of its South Carolina hale condition plan to CE.
Brookdale Senior Living (BKD) announces that its Board of Directors has voted to interrupt the company’s quarterly cash division indefinitely.
Labopharm (DDSS) announces that Ryzolt (tramadol HCl extended release tablets), its once-daily formulation of the analgesic tramadol, has been approved through the FDA. Says Ryzolt is indicated for the management of moderate to moderately severe chronic pain in adults who require around-the-clock management of their pain for an extended period of time.
Watson Pharmaceuticals (WPI) says that its Watson Laboratories, Inc. unit current FDA approval to market its over-the-counter Nicotine Polacrilex Gum USP, coated mint flavor, in the 2 mg and 4 mg strengths. Says Nicotine Polacrilex Gum, coated mint flavor, is the generic equivalent of GSK’s Nicorette fresh mint gum, which is used as an aid to smoking ceasing. Notes product will be available in early January 2009.
Green Bankshares (GRNB) expects to post fourth quarter net loss of between $14-$16 million, reflecting significant and continued weakness in residential substantial estate markets and its effect in succession the body’s loan portfolio and other asset values.
GLG Partners (GLG) announces that its Board of Directors has determined not to continue paying a just quarterly dividend on its common stock. The Board of Directors of GLG will consider re-establishing the regular quarterly dividend as well as the payment of a particular dividend as and when it determines appropriate in the future.
