Jo-Ann Stores revealed the resignations of CFO Brian Carney and General Counsel Valerie Gentile Sachs, both effective at the end of the month. The fabric and craft retailer stated that both executives were leaving for jobs at other companies. Jo-Ann Stores said Jim Kerr, VP and controller, and Don Tomoff, treasurer, will lead the finance team during the transition period.

Rural/Metro revealed earnings for the fourth quarter of $2.95 per share, including $2.87 per share related to a deferred income tax benefit. In the same period last year, the provider of emergency transportation earned $0.06 per share. The company reported revenue for the period of $137.4 million, up from $124.8 million.

CORPORATE NEWS

Nokia, the world’s largest handset maker, raised its 3Q earnings and sales outlook on better-than-expected cell phone prices and increased volumes. The company released revised earnings of 18 to 19 euro cents per share, up from 14 to 17 euro cents previously projected. Sales are seen between 8.4 billion to 8.5 billion euros, up from 7.9 to 8.2 billion euros.

A buyout group which includes Clayton Dubilier & Rice, as well as Carlyle Group and Merrill Lynch Global Private Equity agreed to buy Ford Motor Co.'s Hertz unit for $5.6 billion, ending an auction among private-equity firms. The acquiring group will also assume around $10 billion in Hertz debt.

Sanofi Aventis signed a distribution agreement with a small drug maker for an authorized generic version of allergy medicine Allegra. The company vowed to continue fighting Teva and Barr Pharmaceuticals over their jointly launched Allegra generic.