Company News for May 03, 2011 - Corporate Summary

• Arch Coal, Inc. (NYSE:ACI) and International Coal Group, Inc. (NYSE:ICO) announced that they have signed a definitive agreement under which Arch will acquire all of the outstanding shares of ICG for $14.60 per share in an all-cash transaction valued at $3.4 billion

• Teva Pharmaceutical (NASDAQ:TEVA) and Cephalon (NASDAQ:CEPH) said that their respective boards of directors unanimously approved a definitive agreement under which Teva will acquire Cephalon and all of its outstanding shares for $81.50 per share in cash, with a total enterprise value of about $6.8 billion

• Principal Financial Group (NYSE:PFG) reported Q1 EPS of $0.71, marginally higher than the Zacks Consensus Estimate of $0.70 per share. Revenues for the quarter rose 4% year-over-year to $2.05 billion, just short of the Zacks Consensus Estimate of $2.055 billion

• Hologic, Inc. (NASDAQ:HOLX) reported Q2 EPS of $0.30, ahead of the Zacks Consensus Estimate of $0.28 per share. Revenues for the quarter were $438.7 million, above the Zacks Consensus Estimate of $433.0 million

• Share prices of action-sports brand Volcom Inc. (NASDAQ:VLCM) increased more than 23.67% after French luxury group PPR reported it will acquire the Costa Mesa, California-based company in a deal worth $607.5 million

• Goldman Sachs (NYSE:GS) upgraded aluminum producer Alcoa Inc. (NYSE:AA) from “Neutral” to “Buy” rating and raised the target price to $22 per share from $17 per share

• Share prices of TiVo (NASDAQ:TIVO) increased more than 3% after DISH Network Corp (NASDAQ:DISH) and EchoStar (NASDAQ:SATS) agreed to pay the digital video recorder firm $500 million to settle a patent infringement lawsuit which will mark the end of a long and costly legal battle

• Japanese technology firm Sony (NYSE:SNE) announced its plans to resume some services on its PlayStation Network following the theft of personal information belonging to 78 million users

Company News for May 03, 2011 – Corporate Summary

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