SETTLEMENT APPROVED IN WASTE MANAGEMENT LAWSUITS
Date: 21 September 2001
By Bloomberg News
Bloomberg News
Judge Stephen Lamb approves Waste Management's $24.6 million settlement of shareholders suits contending that former executives misled investors about company's financial health; settlement, which strips four former executives of more than $8 million in severance pay and $16 million in stock options, also resolves similiar suits in Texas; executives were accused of overstating earnings by $2.9 billion (S)
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SBC COMMUNICATIONS SEEKS TO ACQUIRE ALL OF PRODIGY
Date: 22 September 2001
By Bloomberg News
Bloomberg News
SBC Communications Inc offers to acquire 58 percent of Internet service provider Prodigy Communications that it does not already own for $384 million (S)
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DRUGSTORE CHAIN LOWERS QUARTERLY PROFIT OUTLOOK
Date: 22 September 2001
By Bloomberg News
Bloomberg News
CVS Corp says third-quarter profit will be less than forecast because sales have fallen and company has increased advertising and offered more discounts (S)
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NAVIGANT, AIRLINE BOOKING SERVICE, TO CUT JOBS
Date: 22 September 2001
By Bloomberg News
Bloomberg News
Navigant International Inc, second-largest provider of airline booking services, will eliminate about 1,200 jobs, or fifth of its work force, because of lower travel demand after last week's terrorist attack; is also reducing salaries 5 percent to 12 percent and halting capital spending (S)
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EARNINGS OUTLOOK CUT AS WEAK CHEMICAL DEMAND IS SEEN
Date: 22 September 2001
By Bloomberg News
Bloomberg News
Dow Chemical Co will miss third-quarter earnings estimates because of slowing economy and reduction in demand for chemicals and plastics used in various products (S)
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BOEING AGREES TO PAY $92.5 MILLION IN INVESTORS' SUIT
Date: 22 September 2001
By Bloomberg News
Bloomberg News
Boeing Co agrees to pay $92.5 million to settle class-action suit that accused it of not telling investors fast enough that company would take $1.6 billion charge related to temporarily idling 747 and 737 jetliner assembly lines; shareholders contended in suit, filed in October 1997, that Boeing kept its production problems secret so its stock price would remain high and company could complete its merger with McDonnell Douglas in August 1997 (S)
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ILLINOIS TOOL WORKS LOWERS QUARTERLY PROFIT OUTLOOK
Date: 21 September 2001
By Bloomberg News
Bloomberg News
Illinois Tool Works says third-quarter profit will be less than some analysts' forecasts and that slumping economy may hurt fourth-quarter earnings (S)
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RCN, CABLE AND PHONE PROVIDER, TO BUY BACK DEBT
Date: 22 September 2001
By Bloomberg News
Bloomberg News
RCN Corp will spend about $250 million buying back outstanding debt at fraction of its face value, second time this year company has tried to cut its interest expense by buying back debt at cheaper prices; will pay 19 cents to 36 cents on dollar for notes (S)
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FEDEX SAYS EARNINGS FELL 36% IN FISCAL FIRST QUARTER
Date: 21 September 2001
By Bloomberg News
Bloomberg News
FedEx Corp says earnings fell 36 percent in fiscal first quarter, to $109 million (S)
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EMC, DATA STORAGE CONCERN, SUFFERS 12% SHARE DECLINE
Date: 22 September 2001
By Bloomberg News
Bloomberg News
Shares of EMC Corp, largest maker of data storage systems, fall 12 percent after company forecasts loss, its first in more than 11 years; cites competition and slowing economy; chief executive Joseph Tucci says EMC will lay off 10 percent of its workers, or about 2,400 people (S)
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