CENDANT ACQUIRES AN AFFILIATED ONLINE TRAVEL COMPANY
Date: 03 April 2003
By Bloomberg News
Bloomberg News
The Cendant Corporation said yesterday that it had acquired an affiliated online travel company, Trip Network, consolidating its fourth off-balance-sheet investment. Terms were not disclosed, and the amount was not material to Cendant, the company said. Trip Network is one of the largest online travel sites. Cendant, based in New York, franchises hotels, including Days Inn, and residential brokerage firms like Coldwell Banker, and owns the Avis rental car business. Cendant said the purchase will simplify its accounting as it addresses investor concerns about disclosure of the results of affiliates.
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MONSANTO SAYS FIRST-QUARTER PROFIT TOPPED FORECAST
Date: 03 April 2003
By Bloomberg News
Bloomberg News
Monsanto Co says first-quarter profit is higher than forecast (S)0
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HYDRAULIC EQUIPMENT MAKER TO CUT JOBS AT 5 PLANTS
Date: 03 April 2003
By Bloomberg News
Bloomberg News
Eaton Corp, leading maker of hydraulic equipment, will consolidate five plants and cut unspecified number of jobs (S)4
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EXPRESS SCRIPTS DISCLOSES $2.48 BILLION IN REBATES, FEES
Date: 02 April 2003
By Bloomberg News
Bloomberg News
Express Scripts Inc, which manages prescription benefits for employers and insurers, received $2.48 billion in rebates and fees from pharmaceutical companies in last three years; discloses rebates under change in accounting practices in regulatory filing, accounting for money as decrease to cost of goods sold, rather than increase to revenue; change means Express Scripts' revenue for 2000 through 2002 is reduced by same amount (S)
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BEST BUY SAYS PROFIT DROPPED 11% IN FOURTH QUARTER
Date: 02 April 2003
By Bloomberg News
Bloomberg News
Best Buy says profits fell 11 percent in fourth quarter, to $311 million; sales rose 11 perent, to $6.99 billion (S)
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ISIS PHARMACEUTICALS TO CUT JOBS AFTER DRUG FAILS TEST
Date: 03 April 2003
By Bloomberg News
Bloomberg News
Isis Pharmaceuticals will reduce its work force 9 percent to cut costs; most of cuts are associated with experimental cancer drug Affinitak, which Isis and partner Eli Lilly & Co said last month failed study that was part of final phase of research generally required for approval (S)
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Battle Rages Between Fox News and MSNBC
Date: 03 April 2003
By Jim Rutenberg
Jim Rutenberg
Battle between Fox News Channel and MSNBC for viewers spills over from news coverage to network promotions and jabs at each other regarding MSNBC's firing of Peter Arnett and Fox News' decision to order its correspondent Geraldo Rivera out of Iraq; both channels unleash ads allegedly denouncing other's reporter (M)
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