CONSOLIDATED PAPERS (CDP, 26)- The
maker of coated papers has agreed to be acquired by Sweden's Stora Enso
Oyj for $4.8 billion in a cash and stock deal that will create the world's largest paper
and board maker. The deal values each CDP share at $44, a 69%
premium to Friday's close.
DIXON TICONDEROGA CO (DXT,
5.63)- The pencil maker's first quarter loss widened to 45 cents per
share from last year's loss of 17 cents. Revenues fell 14% to $19.63
million in the quarter. The company attributed the lower results to
"plant inefficiencies" and inventory reductions.
FAROUDJA INC (FDJA,
8.68)- The maker of video enhancement products has agreed to be
acquired by Sage Inc. (SAGI,
39.63), a maker of chips used in digital displays, for $155 million in
an all stock deal. Under the terms of the agreement, FDJA
shareholders will receive 0.285 shares of Sage for each Faroudja share
held.
LHS GROUP (LHSG,
41)- The maker of customer support software for the communications
industry beat estimates by a penny as fourth quarter earnings rose to 21
cents per share from last year's 15 cents. Revenues increased 18.9%
to $69.7 million in the quarter.
MAGNA INTERNATIONAL (MGA,
40.31)- The auto parts maker missed estimates by two cents as fourth
quarter earnings rose 52.3% to $1.34 per share. Revenues rose 16% to
$2.56 billion in the quarter.
MONARCH CASINO & RESORT (MCRI,
4.75)- The casino operator said its fourth quarter loss widened to 21
cents per share from last year's loss of two cents. Revenues
increased 45.3% to $21.8 million in the quarter.
NETRO CORP (NTRO,
34.88)- The wireless equipment maker announced plans for a secondary
offering of six million shares, with two million of the shares being sold
by existing shareholders.
PHILIPS ELECTRONICS (PHG,
161.31)- The electronics maker received a favorable mention in this
weekend's Barron's. The shares were given a $300 price target by an
analyst.
QIAGEN NV (QGENF,
155)- The biotech beat estimates by three cents as fourth quarter
earnings increased 45.5% to 16 cents per share. Revenues rose 30% to
$39.1 million in the quarter.
REVLON INC (REV,
7.81)- The maker of cosmetics and personal care products reported a
wider than expected fourth quarter loss of $2.51 per share, compared to
the consensus analyst estimate of a loss of $2.27. Revenues fell
34.3% to $414.4 million in the quarter. The company attributed the
lower results to the effects of a planned inventory reduction, and delays
in introducing new products. The company also announced plans to
sell its Professional Products group for $315 million.
SNYDER COMMUNICATIONS (SNC,
20.50)- The advertising and direct marketing company has agreed to be
acquired by France's Havas Advertising for $29.50 per share in a $2.1
billion deal. Havas expects the deal to be accretive to this year's
earnings, and said it plans to list its ADR's in the U.S.
STAPLES INC (SPLS,
22.94)- The office products retailer has filed to sell shares in its
Staples.com Internet unit in an initial public offering.
THE
LOEWEN GROUP (LWN,
1)- The beleaguered funeral home operator said its fourth quarter
operating loss narrowed to $2.9 million from last year's $46.4
million. Including special items, the company reported a loss of
$5.00 per share, compared to last year's $8.22.
VINTAGE
PETROLEUM (VPI,
14)- The oil and gas explorer beat estimates by six cents as it
reported fourth quarter earnings of 45 cents per share, excluding
gains. The company lost 29 cents in last year's fourth
quarter. Revenues rose 119% to $129.8 million in the quarter.
The company attributed the better than expected results to higher oil
prices and increased production.