Greg Manning Auctions Inc., (GMAI: chart) merchant and auction house network operator, reported 4Q net income for the year was $1.33 per share, up from $1.14 per share in the year-ago period on 28% revenue growth, including inventory sales plus commission income. Aggregate sales, that consist of inventory sales and consignment sales advanced 36%% in the same quarter, compared with the previous fiscal year period.

Metal Storm, (MTSC: chart) industrial position sensors producer, reported a half year loss that totaled $5.9 million for the six months ended 30 June 2005, down from a loss of $5.7 million in the last year’s period. This result includes a $1.4 million loss from Metal Storm's former US subsidiary, ProCam Machine LLC (ProCam), sold on 1 June 2005. Some key objectives were achieved in the first half including the announcement in June of a $422,297 contract with Dragonfly Pictures to integrate Metal Storm's first flying demonstration of its technology on an Unmanned Aerial Vehicle (UAV).

Bakers Footwear Group Inc., (BKRS: chart) specialty retailer of fashion footwear, announced 2Q earnings per share of $0.19, up vs. a net loss of 10 cents a share in the second quarter last year. Comparable store sales rose 12.7% up from a 3.0% rise last year and net sales advanced 27.8% to $45.3 million from $35.4 million for the comparable year-ago period.


CORPORATE NEWS

Delta Air Lines Inc. is likely to file for bankruptcy-court protection this week at the earliest and is closing in on an agreement on $1.7 billion in financing that would keep the carrier airborne while it takes badly needed steps to restructure. The filing, due to be made in U.S. Bankruptcy Court in New York, would occur as soon as Delta directors proceed with a final vote to authorize Chapter 11. The board must give the go-ahead to debtor-in-possession financing, bound to be released by creditors led by General Electric's commercial finance unit. Terms of the pact in question will enable Delta to cash in on $650 million approximately in new financing, with the remaining $1 billion or so meant to pay off a loan from GE last November. Thursday is the most likely date to complete the debtor-in-possession financing and other details so that the board could convene for a vote.

Oracle (ORCL: chart) agreed to acquire Siebel Systems (SEBL: chart) for $10.66 per share. The total value of the deal is $5.85 billion, or $3.61 billion net of Siebel’s cash on hand of $2.24 billion.company said the deal, which is expected to close in early 2006, has a total value of $5.85 billion, or $3.61 billion net of Siebel's cash on hand of $2.24 billion. The deal is expected to close at the beginning of 2006.

Wachovia (WB: chart) revealed that it has agreed to acquire Westcorp (WES: chart) for $3.42 billion in stock. Wachovia also revealed that it will acquire the publicly-held stake of WFS Financial (WFSI: chart), a company that is 84%-owned by Westcorp, for $490 million. Wachovia said that the owing to the acquisition it will become the nation's 9th largest auto loan originator.