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Guidant Opts for J & J's Bid
Jan 15, 10:53 AM EST |
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| GM expects to save $4 B in 2006 from restructuring measures aimed at lowering annual structural costs by $6 B and material expenses by $1 B. |
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| A sequence of profit-taking sessions, disappointing December retails sales and lowered outlooks from Lucent and Tyco kept averages flat Friday. Better-than-expected wholesale inflation data provided some support. Commodities, energy, health care stocks posted solid gains. Guidant accepted an increased $24.2 B buyout offer from J & J, declining a larger bid of nearly $25 B from Boston Scientific. After the long holiday weekend Intel, IBM and Yahoo will report quarterly results. |
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Wholesale Prices Rise 5.4%
Jan 13, 10:14 AM EST |
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| Boston Scientific Corp. increased its bid for Guidant Corp. to $73 a share in cash and stock. |
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| Tyco lowered its Q1 outlook for earnings from continuing operations. The diversified industrial conglomerate expects to earn about 38 cents a share for the period, down from a projected range of 40 cents to 42 cents a share. It also cut its 2006 earnings projection. |
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