J. M. Smucker Company, jams, jellies and preserves producer, announced that its earnings per share from continuing operations for 1Q of 2006 were 51 cents, up vs. 50 cents the year-ago period with sales climbing some 23% in 1Q of fiscal 2006.The analyst estimate was for 63 cents per share.

LanVision Systems Inc. (LANV: chart) posted 2Q net income of 6 cents per share vs. a net loss of 5 cents per share in the same quarter last year. Revenues for the quarter were up 59% to $4.06 million from $2.56 million in the year-ago quarter.

Benihana Inc. (BNHN: chart) posted 1Q net income of 44 cents per share vs. 20 cents per share in the year-ago period. Total revenues rose 13% to $74.1 million vs. $65.4 million last year.

CORPORATE NEWS

Ripplewood Holdings has decided against lifting its bid for Maytag, providing an opportunity for Whirlpool's $1.7 billion rival takeover offer.

Merck was found liable in the sudden cardiac death of a man who had used Vioxx, the company's painkiller. A Texas jury awarded the man’s widow $253.4 million in damages.

PetroKazakhstan Inc. (PKZ: chart) said it has entered into an arrangement agreement according to which a wholly-owned subsidiary of CNPCI would offer $55.00 per share in cash for all outstanding common shares of PetroKazakhstan. The aggregate value of the transaction is about $4.18 billion. The Board of Directors of PetroKazakhstan has recommended that its shareholders accept CNPCI's offer. The transaction is expected to be completed October 2005.

OSI Pharmaceuticals (OSIP: chart) has agreed to buy Eyetech Pharmaceuticals (EYET: chart) in a deal worth about $935 million. Under the agreement, each Eyetech share would be exchanged for $15 in cash and 0.12275 of an OSI share. The transaction is expected to be completed by the end of 2005.

Northwest Airlines Corp. is put to the test as it will try to keep planes flying on heavier weekday levels Monday with its mechanics still on strike. In anticipation of the strike, the nation's fourth-biggest carrier switched to its fall schedule Saturday, a week earlier than planned, making the schedule lighter by about 17%. No talks are scheduled between Northwest and the union, which is refusing to take pay cuts and layoffs that would have reduced their ranks almost by half.

SBS Broadcasting S.A. (SBTV: chart) revealed that it has entered into a definitive deal for its business to be bought by funds advised by Permira and affiliates of Kohlberg Kravis Roberts & Co. in a transaction valued at about $2.549 billion, on an enterprise value basis. An acquisition company jointly held by Permira and KKR has agreed to pay SBS 1.691 billion euro in cash for substantially all of SBS's assets, and to assume substantially all of its liabilities, resulting in a total transaction value, excluding minorities, of approximately 1.864 billion euro. SBS's business activities would be continued under ownership of Permira and KKR.

German travel company TUI AG revealed Sunday it plans to acquire Canadian firm CP Ships for $2 billion in a deal to bolster the company’s container shipping business. According to TUI, the Canadian company's board of directors unanimously recommended that its shareholders accept the all-cash offer of $21.50 per share - a premium of 9.7% over CP Ships' closing share price on Friday.

Freescale Semiconductor Inc. (FSL: chart) announced that it has acquired the assets of Seaway Networks Inc. The company said that Seaway Networks is a fabless semiconductor supplier of content processing technology and solutions for the data networking industry. The company did not reveal the financial terms of the deal.