Ranbaxy Laboratories issued a recall of generic versions of the cholesterol drug Lipitor in the U.S. because of potential dosage issues, WSJ reported.» Read More
Feb 26- Shares of Sturm Ruger& Co Inc slid as much as 12 percent after the gun maker's quarterly profit missed Wall Street estimates for the first time in four years due to higher costs aimed at increasing production.
Feb 26- Shares of Sturm Ruger& Co Inc slid 12 percent after the gun maker's quarterly profit missed Wall Street estimates for the first time in four years due to higher costs aimed at increasing production.
*Fourth-quarter adj profit $0.27/ share vs est $0.41. Feb 26- Chesapeake Energy Corp reported quarterly results that missed Wall Street estimates by a wide margin because of weak production, sending its shares sharply lower on Wednesday. Chesapeake's stock fell as much as 8 percent on the New York Stock Exchange on Wednesday morning.
Feb 26- Lowe's Cos Inc reported strong growth in quarterly sales, showing that the No. 2 U.S. home improvement retailer was narrowing the gap with market leader Home Depot Inc.. Home Depot on Tuesday reported a 3 percent decline in sales in the same period, which was marked by winter storms and record cold in much of North America.
Feb 26- Lowe's Cos Inc reported strong sales growth in the fourth quarter, showing that the No. 2 U.S. home improvement retailer was closing in on market leader Home Depot Inc.. The company said its net sales rose 5.6 percent to $11.66 billion in the fourth-quarter ended Jan. 31.
Feb 26- Eighteen brokerages, including Goldman Sachs, JPMorgan Chase, and Citigroup, agreed to end their participation in analyst survey programs as a result of the New York Attorney General's investigation into the early release of Wall Street analyst sentiment.
*Property index has fallen 10 percent in three months. BANGKOK, Feb 26- Political unrest and an over-supplied $20 billion real estate market in Thailand are the latest challenges threatening developers who are cancelling new launches in the hopes of staving off a bubble.
BEIJING/ HONG KONG, Feb 25- China's corporate debt has hit record levels and is likely to accelerate a wave of domestic restructuring and trigger more defaults, as credit repayment problems rise.
*India violates intellectual property rights- U.S. group. NEW DELHI, Feb 25- India has decided to block investigations by the United States into its trade policies and patent laws and prepare for a battle at the World Trade Organization, a move that could escalate already-strained tension between the two countries.
Feb 25- Oilfield services provider Weatherford International Ltd said it would divest five businesses, exit another as it struggles with weak demand in North America, and has identified 6,192 positions for job cuts as part of a previously announced plan.
*Expects 1st- qtr adj revenue of $145- 147 mln. Feb 25- Endurance International Group Holdings Inc, a provider of internet domain names, reported a 17 percent rise in quarterly revenue as the company added more subscribers, sending its shares up 16 percent after the bell. Endurance also forecast adjusted revenue of $145- 147 million for the first quarter.
Feb 25- Anika Therapeutics Inc said the U.S. Food and Drug Administration approved its drug to treat pain and improve joint mobility in patients with osteoarthritis of the knee, more than four years after it first filed for approval.
Feb 25- Endurance International Group Holdings Inc, which provides Internet domain names, reported a 17 percent rise in quarterly revenue, helped by an increase in subscribers. Net loss attributable to Endurance fell to $67.5 million, or 57 cents per share, in the fourth quarter from $72.6 million, or 75 cents per share, a year earlier.
Feb 25- Hedge fund Elliott Management increased its offer for network gear maker Riverbed Technology Inc to $21 per share from $19 and said it would not increase the offer "in the absence of private diligence". The new offer values Riverbed at about $3.36 billion. The company rejected the earlier $3.08 billion offer on Jan. 15.
Feb 25- Vivus Inc's silence on its strategy to boost sales of obesity drug Qsymia has increased doubts about whether the pill will reach its full commercial potential. Analysts said on Tuesday that Vivus, with its limited sales force, needed a partner to ensure the drug's success.
Feb 25- InterMune Inc's lead drug reduced the progression of a fatal lung disease in a late stage trial, inching closer to U.S. approval and almost tripling the company's shares. The latest trial data brings the world's biggest drugs market closer for InterMune's pirfenidone, a medicine already in use in Europe, Canada and Asia.
*Official confirmation by India that Iran seeking payment. NEW DELHI, Feb 25- India is ready to pay $1.5 billion to Iran to clear part of a backlog of payments for shipments of oil following the partial easing of western sanctions on Tehran, Oil Secretary Vivek Rae said on Tuesday.
Feb 25- Office supply retailer Office Depot Inc reported a surprise quarterly loss as same-store retail sales fell 4 percent in North America, sending its shares reeling. Office Depot shares fell about 15 percent in premarket trading on Tuesday, while those of rival Staples Inc dropped 2.5 percent.
*India violates intellectual property rights- U.S. group. NEW DELHI, Feb 25- India has decided to block investigations by the United States into its trade policies and patent laws, and prepare for a battle at the World Trade Organization, a move that could escalate already-strained tension between the two countries.
The suspension at the Toansa and Dewas plants, already banned by the U.S. Food and Drug Administration from shipping products to the United States, Ranbaxy's biggest market, will hit supplies to other key markets such as Europe and India, two people with direct knowledge of the matter said.