PriceSmart, warehouse clubs operator, reported 3Qnet loss of 53 cents per share vs. $1.01 for the comparable period last year.
PYR Energy, oil and gas company, announced 2Q net loss of 1 cent a share vs. a loss of 2 cents a year earlier mainly attributable to one time non-cash charge.
Suffolk Bancorp, one-bank holding company, reported 2Q profit increase of 50 cents a share compared with 46 cents last year.
Washington Federal, the parent of Washington Federal Saving & Loan Association, posted lower 3Q income of 39 cents a share vs. 40 cents a year ago on higher operating expenses and lower margins. Analysts had expected a profit of 42 cents a share.
CORPORATE NEWS
Whirlpool, an appliance maker, made a bid worth $17 a share, or more than $1.3 billion, for rival
Maytag, topping a $14 a share bid from
Ripplewood Holdings.
Apollo Advisors is the possible winner over
Bain Capital for the marketing-services division of
Cendant Corp.. Both bids are considerably higher than the $2 billion analysts originally expected, according to people familiar with the matter. A final decision has yet to be made, and a bid from Bain could still top that of Apollo. An announcement could come as soon as today.
The U.S. Department of Justice is examining the potential mergers between the
New York Stock Exchange and
Archipelago Holding Inc. (
AX: chart) , and the
Nasdaq Stock Market Inc. (
NDAQ: chart) and
Instinet Group Inc. (
INGP: chart). The department's antitrust division has asked to be provided with more information about the exchange mergers which may delay or even abandon the deals.
Stanley Works (
SWK: chart) made a 410 million euro ($494 million) cash offer for
Fimalac's Facom tools business. The deal should boost 2006 earnings per share by 10 cents, 2007 earnings per share by 35 cents and 2008 earnings by 65 cents. Stanley Works targets $35 million of pre-tax synergies by the end of 2008. The deal would result in operating margins between 15% and 16% by 2007.
Versatel Telecom International announced that
Swedish Tele 2 AB will buy the Dutch alternative telecommunications for 1.34 billion euro. Tele 2 will pay 2.20 euro per share to Versatel’s shareholders and will buy the outstanding convertible debt. After the purchase, private equity group
Apax Partners will buy Versatel’s German operations for 565 million euro.