Cogeco reports weaker 3rd qtr profit due to charge

(Reuters) - The company said it booked a C$2.5 million non-recurring
charge in the third quarter, related to the elimination of a
senior management performance program and an income tax
adjustment in its media business.




Consolidated revenue rose to C$277.4 million, from C$189
million in the same period last year.


Read more at Reuters.com Market News

UPDATE 2-Prudential to keep Wachovia joint venture for now

(Reuters) - Wachovia said in May that it would buy regional broker A.G.
Edwards Inc. for $6.8 billion, creating the
second-largest U.S. retail broker. The move required
Prudential, which now owns a 38 percent stake in the venture,
to make a decision.




Newark, New Jersey-based Prudential said it would exercise
its "lookback" option, which allows it to delay a decision for
up to two years following the combination. It can then add
additional capital, sell its stake back to Wachovia or accept a
reduced stake in the venture.


Read more at Reuters.com Mergers News

Macy's, Target shares, options up on deal talk

(Reuters) - Shares of department store operator Macy's, known for its Macy's and Bloomingdale's chains, climbed as much as 8.1 percent before closing 5.6 percent higher at $41.99. Target ended up 6.1 percent to a new closing high of $68.10.




Analysts said Macy's investors seemed to be positioning for a possible merger, reflected by a sharp rise in the department store's options call volume, as old rumors of a deal resurfaced.


Read more at Reuters.com Mergers News

Freightliner, striking Ore. machinists open talks

(Reuters) - The 670 union-represented machinists will remain on strike
until a new contract is ratified, he said, adding that
negotiations with management had re-started on Thursday night.




The union's current contract expired on June 30. Workers
rejected a tentative contract agreement on Monday in a dispute
that centers on retiree health benefits.


Read more at Reuters.com Bonds News

Immtech Pharma files for $50 million stock shelf

(Reuters) - Those purposes could include clinical trials, research and
development expenses, general and administrative expenses, and
working capital.




Under a shelf registration, a company may sell securities in
one or more separate offerings with the size, price and terms
to be determined at the time of sale.


Read more at Reuters.com Government Filings News

Bally Fitness Shareholders Submit Alternative to Company's Bankruptcy Plan

(Bloomberg) -- A group of Bally Total Fitness Holding
Corp. shareholders proposed an alternative to the gym operator's
bankruptcy plan, which would cancel their stock.

The group, led by Harbinger Capital Partners Masters Fund I
Ltd., instead wants to give shareholders 10 percent of the equity
in the reorganized company and a chance to buy another 10 percent
in a rights offer, Harbinger said in a letter to Bally directors
included in a regulatory filing today. The Harbinger group
would get the other 80 percent of the stock, while subordinated
noteholders would receive $60 million in cash and new notes.


Read more at Bloomberg Bonds News

UPDATE 1-Fidelity National title unit won't be indicted

(Reuters) - Chicago Title had received a letter on Feb. 16 from the
U.S. Attorney for the Southern District of Texas saying it was
the target of a Houston grand jury investigation.




Fidelity, one of the largest U.S. title insurance
companies, said the probe concerned some residential and
commercial mortgage loans that closed between 1999 and 2001,
and which involved three banks in Texas.


Read more at Reuters.com Government Filings News