updated Wed January 02, 2008

California Paper Broke Labor Laws by Firing Reporters Over Union Activities, Judge Rules

SANTA BARBARA, Calif. (AP) -- The Santa Barbara News-Press and its owner violated federal labor laws in firing eight reporters for union activities, and the workers are entitled to return to their jobs with bac...

updated Wed January 02, 2008

Sepracor Enters Partnership With Bial to Finish Developing and Sell New Epilepsy Drug

MARLBOROUGH, Mass. (AP) -- Drug developer Sepracor Inc. said Wednesday it is partnering with Portugal-based drug developer Bial to develop and sell a new epilepsy drug.Sepracor will file a new drug application ...

updated Wed January 02, 2008

Analyst Recommends Buying Shares of Citigroup Due to Strong Cash Flow, International Growth

NEW YORK (AP) -- Punk Ziegel & Co. analyst Richard Bove said Wednesday investors should buy shares of Citigroup Inc., based on the company's strong cash flow and international growth opportunities. "The ear...

updated Wed January 02, 2008

Coupon Program Begins to Help Low-Tech TV Owners Convert to Digital Broadcasting

WASHINGTON (AP) -- Millions of $40 government coupons became available Tuesday to help low-tech television owners buy special converter boxes for older TVs that might not work after the switch to digital broadc...

updated Wed January 02, 2008

U.S. Stock Futures Point to Higher Open Ahead of Economic Readings, Fed Minutes

NEW YORK (AP) -- U.S. stocks headed for a higher open Wednesday as investors awaited several economic readings and minutes from the Federal Reserve's last meeting.Investors wading into the first trading session...

updated Wed January 02, 2008

Cephalon Submits Treanda to FDA for Second Use in Patients With Lymphatic Cancer

WASHINGTON (AP) -- Drug maker Cephalon Inc. asked the Food and Drug Administration Monday to approve its chemotherapy drug Treanda to treat lymphatic cancer.The company's application requests approval for patie...

updated Wed January 02, 2008

Consolidated Communications Buys North Pittsburgh Systems for $362.6 Million in Cash and Stock

MATTOON, Ill. (AP) -- Internet and phone provider Consolidated Communications Holdings Inc. said Monday it has completed its acquisition of telecommunications company North Pittsburgh Systems Inc. for approxima...

updated Wed January 02, 2008

Travelers Settles Lawsuit and State Actions Over Broker Payments

ST. PAUL, Minn. (AP) -- The Travelers Cos. Inc., one of the nation's largest commercial insurers, has settled a lawsuit and separately will pay $6 million to settle several state investigations over how it paid...

updated Wed January 02, 2008

Nautilus Confirms Election of All 4 Directors Nominated by Sherborne Investors

VANCOUVER, Wash. (AP) -- Nautilus Inc. confirmed on Monday that all four nominees of Sherborne Investors LP were elected to the fitness company's board and announced that one of the new directors was named chai...

updated Wed January 02, 2008

Nautilus Replaces Debt Facility With New $100 Million Loan From Bank of America

VANCOUVER, Wash. (AP) -- Fitness products company Nautilus Inc. said Monday it agreed with Bank of America N.A to replace its current debt facility with a a five-year, $100 million loan.The asset-backed loan ca...

updated Wed January 02, 2008

Wall Street Wraps Up 2007 in a Somber Mood, but Dow Has Annual Gain of More Than 6 Percent

NEW YORK (AP) -- Wall Street ended a painful year with another steep loss Monday as investors glumly anticipated that 2008 would bring more of the uncertainty and turbulence of 2007.The Dow Jones industrials fe...

updated Wed January 02, 2008

E-Trade, MBIA, and Washington Mutual Tug Standard & Poor's 500 Index Lower in 4th Quarter

NEW YORK (AP) -- Shares of E-Trade Financial Corp., MBIA Inc., and Washington Mutual Inc. tugged the S&P 500 index lower during the fourth quarter, amid an ongoing credit crisis.During the past 13 weeks, th...

updated Wed January 02, 2008

Soybean Futures Fall for Second Straight Session After Hitting 34-Year High

NEW YORK (AP) -- Soybean futures fell in light trading Monday, the last day of the year, but prices were expected to continue their overall rise in 2008 to meet growing demand in China.Gold prices dipped but st...

updated Wed January 02, 2008

South Korea's Jeju Air Orders 5 Boeing 737-800 Planes; Boeing Puts List Price of Deal at $370M

SEATTLE (AP) -- Boeing Co. on Monday said South Korea's Jeju Air has ordered five 737-800 aircraft.The aircraft maker said the deal is worth $370 million at list prices, although carriers often negotiate discou...

updated Wed January 02, 2008

Horizon Bancorp Needs to Set Aside Money to Cover Unpaid Loans

MICHIGAN CITY, Ind. (AP) -- Horizon Bancorp said Monday it needs to squirrel away more cash because of deteriorating credit quality in its home and car loan portfolios.The company added that it sees 2007 earnin...

updated Wed January 02, 2008

American Medical Systems Drops 23 Percent in 2007, but Intuitive Surgical More Than Triples

NEW YORK (AP) -- Shares of medical device maker American Medical Systems Holdings Inc. dropped 23 percent during 2007 amid several profit warnings, but Intuitive Surgical Inc. more than tripled, boosted by sale...

updated Wed January 02, 2008

Alaska Says to Receive $379M to Settle Tax Dispute With Oil Company BP

JUNEAU, Alaska (AP) -- The state will receive a payment of $379 million from oil company BP PLC after the two sides settled a tax dispute, Governor Sarah Palin said Monday.The dispute stems from taxes assessed ...

updated Wed January 02, 2008

Pharmasset's Loss Narrows in 2007 Amid Hefty Milestone Payments From Roche

PRINCETON, N.J. (AP) -- Pharmasset Inc., a clinical-stage pharmaceutical company, said Monday its net loss narrowed during 2007 as costs and expenses rose, but revenue climbed on hefty milestone payments from S...

updated Wed January 02, 2008

Sector Roundup: Chip Stocks Decline After Middling Sales Report, Web Stocks Slip With Market

Among the sector activity stories for Monday, Dec. 31, from AP Financial News:NEW YORK (AP) -- Chip stocks fell Monday, pushed down in part by mediocre sales figures released by the Semiconductor Industry Assoc...

updated Wed January 02, 2008

Sales of Existing Homes, Condominiums and Townhouses Edge Up 0.4 Percent in November

WASHINGTON (AP) -- Sales of previously owned homes nudged up in November, but that didn't improve the broader picture of a feeble housing market racked by record-high foreclosures and harder-to-get credit. The ...