International Business News - Out http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Shares of Novartis AG rose Tuesday morning after the Swiss drug maker said it completed the purchase of 25 percent of eye care products maker Alcon Inc., finishing the first part of a $38 billion buyout. http://www.ibtimes.com/articles/20080708/out-of-the-gate-novartis-rises.htm Tue, 08 Jul 2008 10:50:49 EDT Shares of Office Depot Inc. tumbled to an eight-year low at market open Tuesday after the office supplies retailer forecast a 10 percent drop in quarterly same-store sales. http://www.ibtimes.com/articles/20080708/out-of-the-gate-office-depot-shares-plunge.htm Tue, 08 Jul 2008 09:59:13 EDT Shares of AirTran Holdings Inc., which operates AirTran Airways, rose Tuesday after the company said it will cut 480 jobs, or more than 5 percent of its staff. http://www.ibtimes.com/articles/20080708/out-of-the-gate-airtran-holdings-climbs.htm Tue, 08 Jul 2008 09:57:59 EDT Shares of IndyMac Bancorp Inc. plummeted Tuesday morning after the company stopped accepting some loan submissions and trimmed its work force, and an analyst cut his price target to $0. http://www.ibtimes.com/articles/20080708/out-of-the-gate-indymac-bancorp-shares-plummet.htm Tue, 08 Jul 2008 10:54:49 EDT Shares of Teva Pharmaceutical Industries Ltd. fell Monday after the company posted disappointing results from a higher-dose trial of multiple sclerosis drug Copaxone. http://www.ibtimes.com/articles/20080707/out-of-the-gate-teva-drops-on-copaxone-results.htm Mon, 07 Jul 2008 10:41:54 EDT Shares of Penn National Gaming Inc. rose Monday, following last week's news that two investment firms ended their planned $5.82 billion takeover of the casino and racetrack operator. http://www.ibtimes.com/articles/20080707/out-of-the-gate-penn-national-rises.htm Mon, 07 Jul 2008 10:22:07 EDT Shares of General Motors Corp. jumped at market open Monday after the company said it is considering selling some brands, cutting white-collar positions and speeding the introduction of small cars from other markets. http://www.ibtimes.com/articles/20080707/out-of-the-gate-gm-shares-rise-amid-news-of-cuts.htm Mon, 07 Jul 2008 10:07:16 EDT Shares of Yahoo Inc. jumped Monday morning after a letter Carl Icahn sent to the Internet portal's shareholders--in which the activist investor again raised a possible tie-up with Microsoft Corp.--was made public. http://www.ibtimes.com/articles/20080707/out-of-the-gate-yahoo-stock-up-after-icahn-letter.htm Mon, 07 Jul 2008 10:05:17 EDT Shares of Interactive Intelligence Inc. dropped on Monday morning, after the communication software company forecast a second-quarter profit below Wall Street expectations. http://www.ibtimes.com/articles/20080707/out-of-the-gate-interactive-intelligence-drops.htm Mon, 07 Jul 2008 09:56:08 EDT Shares of APP Pharmaceuticals Inc. skyrocketed Monday after Germany's Fresenius SE said it will buy the U.S. generic drug maker for $3.7 billion in cash. http://www.ibtimes.com/articles/20080707/out-of-the-gate-app-pharmaceuticals-shares-spike.htm Mon, 07 Jul 2008 09:46:33 EDT Shares of Nvidia Corp. lost nearly a third of their value Thursday after the graphics chip maker cut its second-quarter revenue guidance, prompting a spate of analysts to cut their ratings and earnings expectations on the stock. http://www.ibtimes.com/articles/20080703/out-of-the-gate-nvidia-tumbles-after-outlook-cut.htm Thu, 03 Jul 2008 12:10:42 EDT Shares of major airlines declined after the opening bell as oil prices neared $146 a barrel and American Airlines said its June traffic declined. Light, sweet crude for August delivery rose $2.28 to a record $145.85 a barrel in electronic trading on the New York Mercantile Exchange. http://www.ibtimes.com/articles/20080703/out-of-the-gate-airlines-decline-on-record-crude.htm Thu, 03 Jul 2008 10:20:01 EDT Shares of Penn National Gaming Inc. fell to a new low Thursday after the racetrack and casino operator said its planned $5.82 billion takeover by Centerbridge Partners and Fortress Investment Group has been terminated. http://www.ibtimes.com/articles/20080703/out-of-the-gate-penn-national-gaming-shares-fall.htm Thu, 03 Jul 2008 09:58:26 EDT Shares of UnitedHealth Group Inc. rose Wednesday morning after the health insurer cut its profit forecast, a move Wall Street appeared to have expected. http://www.ibtimes.com/articles/20080702/out-of-the-gate-unitedhealth-group-rises.htm Wed, 02 Jul 2008 10:26:53 EDT Shares of Apollo Group Inc., rose Wednesday after the University of Phoenix owner posted adjusted profit and sales that topped Wall Street expectations for the fiscal third quarter. http://www.ibtimes.com/articles/20080702/out-of-the-gate-apollo-group-rallies.htm Wed, 02 Jul 2008 10:24:42 EDT Shares of General Motors Corp. slid Wednesday morning after one analyst cut his rating and another his price target, despite better-than expected June sales numbers that beat rival Toyota Motor Corp. http://www.ibtimes.com/articles/20080702/out-of-the-gate-general-motors-shares-slide.htm Wed, 02 Jul 2008 10:20:34 EDT Shares of Blockbuster Inc. and Circuit City Stores Inc. headed in opposite directions at market open Wednesday after the movie rental chain ended its bid to buy the big-box electronics retailer. http://www.ibtimes.com/articles/20080702/out-of-the-gate-blockbuster-jumps-on-buyouts-end.htm Wed, 02 Jul 2008 10:00:56 EDT Co-owner Chip Ganassi has shut down Dario Franchitti's race team because of a lack of sponsorship. The 2007 Indy 500 winner and IRL Series champion has struggled in his first NASCAR season driving Ganassi's No. 40 Dodge. http://www.ibtimes.com/articles/20080701/franchittis-team-shut-down-without-sponsorship.htm Tue, 01 Jul 2008 17:48:15 EDT SuperGen Inc. said Tuesday its bone marrow disorder drug Dacogen failed in a late-stage European clinical trial, which pressured SuperGen shares and boosted Celgene Corp., which makes a rival drug, Vidaza. http://www.ibtimes.com/articles/20080701/out-of-the-gate-supergen-drug-trial-fails.htm Tue, 01 Jul 2008 10:46:34 EDT Shares of CIT Group Inc. jumped sharply Tuesday after the company said it would sell its home-lending business to Lone Star Funds for $1.5 billion cash and $4.4 billion in assumed debt, news that an analyst said will help the balance sheet. http://www.ibtimes.com/articles/20080701/out-of-the-gate-cit-group-shares-rally-after-deal.htm Tue, 01 Jul 2008 10:04:23 EDT