BRIEFCASE.Byline: - Staff and Wire Services MannKind stock placement is set VALENCIA - MannKind Corp. announced a $175 million private stock placement on Wednesday. Chairman, chief executive and principal stockholder Alfred E. Mann Alfred E. Mann (born 1925, Portland, OR), who is also known as Al Mann, is an American entrepreneur and philanthropist. He is a billionaire. Born and raised in Portland, his father was English and mother Polish. will supply $87.5 million, with the other half coming from institutional investors. When the financing closes, the company will issue 17.1 million shares of common stock and warrants to purchase an additional 3.4 million shares at $12.228 per share. The company will use the proceeds to finance research and development, particularly on its Technosphere Insulin System. THQ's revenue up, but still sees loss CALABASAS - THQ THQ Toy Headquarters THQ Territorial Headquarters THQ Tehsil Headquarters (Pakistan) THQ The Holy Quran THQ Theater Headquarters Inc. grew its first-quarter revenue but still posted a loss on Wednesday that was roughly in line with the same period last year. The video-game publisher improved sales to $158 million from $88.2 million in the like period a year ago. Still, its loss ticked up slightly to $4 million, 10 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , from $3.9 million, 10 cents per share, a year ago. It still expects to meet its previous guidance of $750 million in revenue and earnings per share of $1 for the full year. Sprint acquisition of Nextel gets OK WASHINGTON - Sprint Corp.'s $35 billion acquisition of Nextel Communications Nextel Communications, styled NEXTEL, (Former NASDAQ: NXTL) which is now known as the Sprint Nextel Corporation was a telecommunications firm based in the United States. Known for providing a nation-wide mobile communications system. Inc. got the go-ahead Wednesday from regulators, bolstering Sprint's status as the No. 3 wireless company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . After the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. approved the deal, the Justice Department gave its blessing a short time later. Service economy growth is slower NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - Business activity in the service economy grew at a slower pace in July than in the previous month as companies were hit hard with big price increases amid higher energy costs, a private research group said Wednesday. The index of business activity in the nonmanufacturing sector slipped to 60.5 last month from 62.2 in June, according to the Institute for Supply Management. The index was slightly lower than the 61 reading that analysts had forecast. Casual Corner is going up for sale NEW YORK - The owner of Casual Corner Group Inc. said it will sell the struggling women's clothing chain to a liquidator, which may in turn sell a chunk of its stores to a big rival. Looking to spend more time on its upscale Brooks Brothers chain, privately owned Retail Brand Alliance Inc. plans Thursday to sell Casual Corner's 550 stores to Gordon Brothers Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Boston-based retail liquidator, Retail Brand Alliance President and Chief Executive Officer Claudio Del Vecchio said in an interview. Casual Corner's retail locations, which occupy malls and shopping destinations across about 45 U.S. states. Prudential profits post Q2 increase NEWARK, N.J. - Prudential Financial Inc., the largest U.S. life insurer, said Wednesday its second-quarter profit rose on stronger sales across its business lines. Quarterly financial services profit was $754 million, or $1.48 per share, up from $519 million, or $1.02 per share, last year. Operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before were $570 million, or $1.13 per share, compared with $501 million, or 98 cents per share, last year. Total revenue rose to $5.72 billion from $5.06 billion a year earlier. The company was expected to report earnings of $1.08 per share on revenue of $5.52 billion, according to analysts surveyed by Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings . |
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