BUSINESS NOTES PTPN TO CARE FOR PACIFICARE CLIENTS.CALABASAS - PTPN PTPN Physical Therapy Provider Network PTPN Protein-Tyrosine Phosphatase, Nonreceptor-Type PTPN Preemptive Time Petri Net , the largest outpatient rehabilitation network in the country, on Thursday contracted with PacifiCare of California to provide outpatient services outpatient services Hospital-based services Managed care Medical and other services provided, to a nonadmitted Pt, by a hospital or other qualified facility–eg, mental health clinic, rural health clinic, mobile X-ray unit, free-standing dialysis unit Examples . Under the terms of contract PTPN will provide physical therapy, occupational therapy and speech therapy to PacifiCare members statewide. The network has more than 1,000 member offices throughout 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. . Based in Cypress, PacifiCare is the third-largest health plan in California. Jeff DeGrandpre, PTPN's director of marketing, said the company was pleased to be able to continue its six-year relationship with PacifiCare. - Daily News Power-One takes unexpected dip CAMARILLO - Analysts were at a loss to explain the mysterious plunge in the stock of Power-One Thursday. After a summer of torrid gains, shares of the telecommunications power equipment supplier dropped $13, or 17.1 percent, to close at $62.6875 on volume of 5.7 million shares. A Robertson Stephens analyst, who asked not to be named, said there appeared to be nothing changed in the company's core business but was waiting late Thursday to query top Power-One officials. - Daily News Countersuit coun·ter·sue tr.v. coun·ter·sued, coun·ter·su·ing, coun·ter·sues Law To bring proceedings against (a plaintiff) in direct opposition to a suit brought against onself. filed over patent rights THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. - Xircom Corp. countersued rival 3Com Thursday, about a month after 3Com filed its own suit, claiming patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. . Xircom, a maker of Internet connection products, contends that 3Com's forthcoming Type III Type III may stand for:
On Aug. 18, Santa Clara-based 3Com announced that it had served Xircom with a complaint alleging that Xircom infringed on its patents of two connection devices. - Daily News Icahn backs off, sells stake in GM Just a month after notifying General Motors that he might buy as much as 15 percent of its shares, billionaire investor Carl Icahn Carl Celian Icahn (born February 16, 1936) is an American billionaire financier, corporate raider, and private equity investor. Carl Icahn Net worth is $14.5 Billion as of 2007 Forbes estimate. has sold his stake in the automaker. General Motors shares, which rose in August when GM disclosed Icahn's plans, are likely to fall today when investors learn he has backed away, said John Casesa, auto analyst at Merrill Lynch. GM declined to comment on Icahn's unexpected reversal. Icahn would not disclose when he sold his shares or the size of his stake in GM, but said it was less than $15 million. It is unclear whether Icahn has permanently dropped his plans to invest in the automaker. Even as he bought shares last month, Icahn never publicly disclosed whether he planned to adopt a passive role in the company or an active one in forcing GM to restructure. But a person close to the situation said Icahn was angered that General Motors disclosed his plans to buy its shares, driving up the stock price and the cost of his investment. Shares of GM rose $4.56, or 7 percent, to $70 on the day GM announced Icahn's interest, and rose as high as $75.75 early this month. - The 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 Times Intel earns less than projected SAN FRANCISCO - Intel Corp. Thursday warned that its third-quarter revenues will be significantly below Wall Street's expectations, sending tremors throughout the high-tech industry. The news sent shares of Intel down $12.92, or 21 percent, to $48.06, after finishing the regular trading session on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. at $61.48, down $1.58. The stocks of several other high-profile companies also got caught in Intel's downdraft down·draft n. 1. A strong downward current of air. 2. A downward trend; downturn: The business hit a downdraft. . - Associated Press Goodyear shares, earnings plummet AKRON, Ohio - Goodyear Tire & Rubber Co. saw its share price fall more than 13 percent Thursday after warning that earnings for the second half of the year would be lower than expected, blaming material costs and a low volume. The company said it expects to do no more than break even, or even post a loss, in its third and fourth quarters. The warning comes as Goodyear, Michelin and other tire makers gain sales from consumers replacing 6.5 million tires that have been recalled by Bridgestone/Firestone. - Daily News Wire Services |
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