Jan 26- Packaging companies Rock-Tenn Co and MeadWestvaco Corp said they would combine to form a company worth $16 billion, with MeadWestvaco shareholders owning a majority stake.» Read More
LUXEMBOURG-- Greece and its international lenders need to agree quickly on a program of reforms so the next tranche of bailout loans can be released, the head of the group finance ministers from the 17 countries that use the euro said Monday.
GREENVILLE, S.C.-- Technology products distributor ScanSource Inc. said Monday that its revenue for its most recent quarter may miss market expectations. ScanSource's forecast falls short of the $760.1 million that analysts polled by FactSet forecast. Shares of ScanSource, based in Greenville, S.C., fell 41 cents to close at $31.21.
CHICAGO-- United Airlines says that passenger traffic and a closely watched revenue statistic both declined in September, compared with the same month last year. United Continental Holdings Inc. said Monday that passenger revenue per available seat mile fell by 2.5 to 3.5 percent last month.
IRVINE, Calif.-- Edwards Lifesciences Corp. shares fell nearly 16 percent in after-hours trading Monday following a disappointing third-quarter revenue forecast Monday, including weak sales of its Sapien heart valve. Edwards said government austerity measures hurt its revenue from Europe while U.S. sales are constrained by Medicare coverage issues.
LUXEMBOURG-- Portugal's international creditors have agreed to give the country the next slice of its rescue loans, worth 4.3 billion, according to a European Union diplomat.
REDWOOD SHARES, Calif.-- Saba Software Inc. said Monday that it has been notified that it is at risk of being delisted from the Nasdaq Stock Market because it has not filed its fiscal third- and fourth-quarter reports and will not file its first-quarter report on time.
_ Netflix Inc.' s stock surged 10.5 percent after an analyst sought to ease investor fears that the online subscription service will face intensifying completion from Amazon.com. _ Shares of Glu Mobile Inc. got a boost after the mobile game developer said it signed a gambling deal with Probability PLC.
ATLANTA-- Oxford Industries Inc. said Monday that J. Hicks Lanier, CEO of the clothing company, is retiring at the end of the year. Oxford said that Thomas Chubb III, president and a current member of the board, has been named CEO and president of the company beginning Jan. 1. Oxford, based in Atlanta, owns clothing brands such as Tommy Bahama and Lilly Pulitzer.
WEAK ASIA: The World Bank warned that a "more pronounced slowdown" is possible in China. MOVERS: Navistar rose $1.60 to $22.81 after the truck and engine maker said it will add two board members associated with activist investors, heading off a proxy battle.
LUXEMBOURG-- A European Union diplomat says Portugal's international creditors have agreed to give the country the next slice of its rescue loans, worth 4.3 billion. The decision was widely expected, even though Portugal has said it would miss the targets laid out in exchange for the 78 billion bailout.
NEW YORK-- Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:. Green Dot Corp., down $2.60 at $10.25. Shares of the prepaid card seller fell after Wal-Mart Stores Inc. and American Express said they will team up to make a rival card.
SAN FRANCISCO-- A California judge has approved a request to suspend public hearings and hold closed-door negotiations on fines to be levied after a deadly natural gas pipeline explosion in a Northern California neighborhood.
NEW YORK-- American Airlines' CEO acknowledges that passengers have had a rough few weeks on the airline but says the carrier is working through its issues. "The operational performance is improving," CEO Tom Horton said in an interview with The Associated Press on Monday. " In that same period Delta, Southwest and U.S. Airways were all above 85 percent.
ECONOMIC DRIFTS: Most commodity prices fell after a forecast of slower growth in China ramped up concerns about the global economy. GLOBAL GLOOM: The World Bank cut its growth forecast for China, citing weak global demand. Meanwhile, European finance ministers met as unrest continued in Greece and Spain over austerity cuts.
HALF MOON BAY, Calif.-- A grower from Oregon is the winner of this year's Half Moon Bay giant pumpkin contest with a gourd weighing in at 1,775 pounds. Forty-five-year-old Thad Starr from Pleasant Hill, Ore., set a contest record with his pumpkin Monday, beating last year's winner by 71 pounds.
TALLAHASSEE, Fla.-- A state-created fund that backs up private insurers in Florida could fall short of the money it needs to pay off hurricane insurance claims if a major storm were to pound the state. Florida created a special fund after Hurricane Andrew caused widespread damage 20 years ago.
SAN ANTONIO-- Cracker Barrel is in an extended fight with its biggest shareholder, Sardar Biglari. In a public letter to Cracker Barrel Old Country Store Inc. on Monday, Biglari, said the restaurant was being misleading when, in a letter to shareholders last week, it referred to chairman-elect Jim Bradford as "a former NYSE company CEO."
NEW YORK-- Fitch Ratings has put Ocwen Financial Corp. on watch for a possible downgrade after the company announced plans to buy Homeward Residential Holdings Inc.. Ocwen is paying $588 million in cash and $162 million in convertible preferred stock for Homeward. Shares of Atlanta- based Ocwen fell 47 cents, or 1.3 percent, to close at $36.28 Monday.
BISMARCK, N.D.-- The tax director of North Dakota's Three Affiliated Tribes says the tribe should get a bigger share of tax revenue from oil that's produced on the reservation. The Fort Berthold reservation is in the heart of North Dakota's booming oil country.
Prices for a wide range of commodities fell Monday after a new forecast of slower growth in China ramped up worries about the global economy. The World Bank's lowered expectation for China was one of three issues that prompted investors to sell riskier assets on a day when volumes were light because of the Columbus Day holiday.