11:55 AM New York – Cellcom Israel first quarter net plunged 61% and Dell special committee seeks information from Carl Icahn. Elan Corporation agreed to pay $1 billion to buy 21% royalties. Valhi net swung to profit.
Cellcom Israel Ltd.
) dropped 47 cents or 4.9% to $9.06 after Israel based telecom operator reported total revenue in the first quarter ending in March jumped 21% to $345 million. Net income in the quarter plunged 61% to $18.4 million or 18 cents a diluted share compared to $47.4 million or 48 cents.
Gross profit for the quarter plunged 31% to $130 million and operating income tumbled 49% to $38 million.
) slid 4 cents to $13.41 after the special committee in a regulatory filing sought information from Carl Icahn for details of his plans for how he would finance his offer and who will run the company.
In a letter to Carl Icahn, the committee said ""actual acquisition proposal that Board could evaluate"" and ""contingencies available if cash on hand or stockholder rollovers are less than anticipated.""
Elan Corporation, Plc
slipped 23 cents or 1.9% to $11.55 after the Ireland based biotech drugs developer agreed to pay $1 billion to buy 21% of future royalties that Theravance Inc (THRX
) receives from its venture with Glaxo from four respiratory drugs under development.
) gained 1.3% or $1.01 to $84.40 after the natural gas supplier stated revenues in the first quarter ending in March surged 116% to $97.2 million. In the quarter net loss swung to $15.5 million or 40 cents a diluted share compared to net income of $4.5 million or 21 cents.
The company added gross profit in the quarter climbed 63% to $37.4 million.
For the year, the Stratasys expects revenue in the range of $430 million to $445 million and diluted earnings per share loss between 41 cents and 16 cents.
) dropped 39 cents or 2.3% to $16.01 after the holding company said total net sales in the first quarter ending in March soared 17% to $582.8 million. In the quarter, net income swung to $88.9 million or 26 cents a diluted share compared to net loss of $39.8 million or 12 cents.