Cal-Maine Foods /zigman2/quotes/201864009/composite CALM -0.33% fourth-quarter net income doubled to $36.6 million, or $1.54 a share as sales climbed to $235.6 million from $169.9 million. The company reported strong egg prices and good demand for eggs. It sees continued strong demand for eggs, a slightly higher but manageable egg supply, and further volatility with respect to corn and soybean meal prices.
Cameron agreed to supply subsea production systems to a development program offshore Angola. The Houston oil-service firm estimated the value of the first phase of the order at $800 million and expects to begin deliveries in second-half 2009.
Grainger /zigman2/quotes/200853098/composite GWW +1.38% agreed to pay $6 million, or 5 cents a share, to resolve a Trade Agreements Act and Sourcing complaint with the Department of Justice. It had previously set aside a reserve to fund the settlement.
General Electric Co. /zigman2/quotes/208495069/composite GE -0.02% plans to fold six business segments into four. The new units are GE Technology Infrastructure, GE Energy Infrastructure, GE Capital and NBC Universal. Further, GE named its new vice chairman, John Krenicki, to head GE Energy. Krenicki, 46, was previously chief executive of the former GE Energy division. See full story.
General Motors Corp. /zigman2/quotes/205226835/composite GM +1.56% shares fell 7.6%. It will eliminate shifts at truck plans in Moraine, Ohio, and Shreveport, La., as part of the auto maker's efforts to pare production of large pickups and sport-utility vehicles. See full story.
Hewlett-Packard Co. /zigman2/quotes/203461582/composite HPQ +2.52% said the European Commission approved the company's $13.9 billion acquisition of Electronic Data Systems . H-P also said EDS had settled five lawsuits that arose after the deal was announced. As part of that settlement, H-P and EDS said the acquisition won't close before Aug. 18 and EDS will pay its third-quarter dividend of 5 cents a share on Sept. 10.
Lehman Brothers shares tumbled 10%. The Securities and Exchange Commission is focusing on four rumors about the investment bank as part of a probe into potential market manipulation. In subpoenas sent to dozens of hedge funds and others, the SEC is asking for transcripts of calls, messages and payroll documents that mention the Federal Reserve's lending facility, Barclays, /zigman2/quotes/206581728/composite BCS -0.89% /zigman2/quotes/208409333/delayed UK:BARC -3.05% hedge fund SAC Capital Advisors and bond-fund house Pacific Investment Management Co., or Pimco, people familiar with the matter told the newspaper. The SEC is trying to trace the rumors to their source, the report added.
Mattel Inc.: /zigman2/quotes/209819189/composite MAT +0.82% The Wall Street Journal reported that a federal judge dismissed a juror from a trial pitting against MGA Entertainment Inc. against Mattel over intellectual-property rights involving the Bratz doll. The juror was dismissed for making an inappropriate ethnic comment against MGA Chief Executive Isaac Larian during deliberations, the newspaper said. Larian is Jewish and an Iranian immigrant. Following the dismissal, MGA asked the judge for a mistrial. The motion is scheduled to be heard on Aug. 4, the Journal reported.
Fresh criticism of Mechel /zigman2/quotes/200948124/composite MTL -2.17% by Russian Prime Minister Vladimir Putin Monday sent the U.S.-listed shares of the coal and steel producer tumbling 26%. Putin said Monday that Mechel avoided taxes by selling products internationally through foreign subsidiaries, Dow Jones Newswires reported citing the Interfax news agency.
Motorola Inc. said it won a decision in the U.S. Court of Appeals for the Federal Circuit affirming that the company did not infringe a patent owned by the University of Texas System related to text-messaging software used in mobile phones. Motorola said the University System had sued the company and more than 30 other handset manufacturers.
Ryanair /zigman2/quotes/204098489/composite RYAAY +1.61% shares slumped 25%. The Irish airline warned that it may post its first-ever annual loss and that the outlook on fares and fuel prices remains poor. See full story.
Sirius Satellite Radio /zigman2/quotes/201205073/composite SIRI +2.23% shares fell 16%. It expects to report that its second-quarter adjusted loss narrowed to $24 million from $79 million as revenue rose 25% to $283 million. As of June 30, it had 8.9 million customers, up 25% from the year-earlier period. Sirius said it's planning to sell $375 million of stock and as much as $65 million more from time to time. The offering is being conducted concurrently with a private offering by XM Satellite Radio Inc. of $550 million of notes convertible into Sirius stock.
Shares of Tyson Foods Inc. /zigman2/quotes/201117502/composite TSN +0.04% fell 7%. It reported Monday that the soaring price of feed continued to hurt business in the latest quarter. Tyson posted a fiscal third-quarter profit of $9 million, or 3 cents a share, down sharply from $111 million, or 31 cents a share, a year ago. Sales rose 3.5% to $6.85 billion. See full story.
Vanda Pharmaceuticals /zigman2/quotes/200957783/composite VNDA +4.77% shares plunged 73%. It received a not-approvable letter from the U.S. Food and Drug Administration regarding its new-drug application for iloperidone, a treatment for schizophrenia. A not-approvable letter describes deficiencies that prevent approval unless they are corrected.
Verizon Communications Inc. /zigman2/quotes/204980236/composite VZ +1.29% second-quarter net income rose 12% to $1.88 billion, or 66 cents a share, from $1.68 billion, or 58 cents, in the year-ago period. Adjusted net in the latest period was 67 cents a share. Revenue rose to $24.1 billion from $23.3 billion. Analysts surveyed by FactSet forecast earnings of 65 cents a share on revenue of $24.2 billion. See full story.
Toyota Motor Corp. /zigman2/quotes/200537742/composite TM +0.85% on Monday warned that its full-year sales results are on pace to fall short of previous targets as a brutal industry slump in the key U.S. market has more than offset gains around the world. See full story.