Market News
Bank of New York Mellon (BK)
Bank of New York Mellon CEO Bob Kelly told the bank's senior managers he is not interested in the top job at Bank of America Corp, defusing speculation that he would leave his current post.
"I want to be clear: I am not interested," Kelly wrote.
Nov 12 · 4:42:00 PM · Source: Reuters
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by Michael Oliveto
Baxter International (BAX)
Baxter announced that it has declared a quarterly dividend of $0.29 per Company common share.
This represents an increase of approximately 12% over the previous quarterly rate of $0.26 per share. The dividend is payable on January 5, 2010, to shareholders of record as of the close of business on December 10, 2009.
Nov 12 · 4:35:00 PM · Source: Reuters
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by Michael Oliveto
Boeing (BA)
The president of Sea Launch Co. says he expects Boeing to drop all or most of its ownership of the satellite-launching business.
Kjell Karlsen heads Long Beach, Calif.-based Sea Launch, which filed for bankruptcy protection in June. He said in Thursday's Los Angeles Times that he doesn't expect Boeing to commit any more capital but the aerospace giant is likely to continue as a supplier. Boeing Co. spokesman Joe Tedino declined to speculate on the company's future with Sea Launch. Chicago-based Boeing owns 40 percent of the company.
Nov 12 · 3:04:00 PM · Source: Forbes
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by Michael Oliveto
Allstate (ALL)
The Allstate Corporation announced a quarterly dividend of $0.20 on each outstanding share of the Company's common stock, payable in cash on January 5, 2010 to stockholders of record at the close of business on November 30, 2009.
Nov 12 · 2:50:00 PM · Source: Reuters
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by Michael Oliveto
United Technologies (UTX)
United Technologies Corp. (NYSE:UTX), today announced it has reached an agreement to purchase the GE Security business from GE (NYSE: GE) for $1.82 billion. The closing is pending regulatory approvals. GE Security, part of GE Technology Infrastructure, supplies security and life safety technologies through a broad product portfolio for commercial and residential applications that include fire detection and life safety systems, intrusion alarms, and video surveillance and access control systems. Headquartered in Bradenton, Fla., the business has eight manufacturing facilities and approximately 4,700 employees in 26 countries.
Nov 12 · 2:31:00 PM · Source: Company News
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by Larry Etter
Abbott Labs (ABT)
Abbott Laboratories announced a definitive agreement to acquire the global rights to PanGenetics BV's PG110 fully humanized antibody to Nerve Growth Factor (NGF).
PG110 is a biologic in Phase I clinical trial development that targets NGF for the treatment of chronic pain. NGF is released at sites of tissue damage and inflammation, and plays a significant role in the transmission of pain signals by the central nervous system.
Nov 12 · 1:53:00 PM · Source: Reuters
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by Michael Oliveto
Abbott Labs (ABT)
The law firm Arnold & Itkin LLP has filed five lawsuits against the makers of pain pumps and related medications, including Abbott Labs, based on claims that many of the companies' defective devices are causing irreversible shoulder damage among patients. Currently, the attorneys at Arnold & Itkin are representing 28 people who received pain pumps to manage pain following shoulder surgery.
According to the lawsuits, pain pump manufacturers were denied approval by the U.S. Food and Drug Administration to use the pumps to mitigate pain in shoulder joints, but the companies continued to promote their use in that way. Many former pain pump users say the companies were negligent in designing, researching and selling pain pumps that they should have known were dangerous.
Nov 12 · 1:51:00 PM · Source: Reuters
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by Michael Oliveto
Apple (AAPL)
Though Apple has shunned the stylus in favor of multi-touch on the iPhone and iPod touch, a new patent application suggests the company is investigating superior handwriting and input recognition via pen.
The patent application, revealed this week, describes a system that would comprehend complex "ink information" created from the use of a pen-like stylus. Entitled "Method and Apparatus for Acquiring and Organizing Ink Information in Pen-aware Computer Systems," the document includes multiple references to "tablet" style computers.
Nov 12 · 1:23:00 PM · Source: Apple Insider
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by Michael Oliveto
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