kforce shares tumble after a downgrade
By Times Wires
Published September 8, 2007
Kforce Inc., the recruiter for professionals, fell the most in New York trading in more than four years after a downgrade to "neutral" from "buy" by SunTrust Robinson Humphrey analyst Tobey Sommer, who cited slowing worker demand. Kforce, based in Tampa, fell $1.75, or 12 percent, to $13.02 Friday in Nasdaq stock market composite trading of 1.19-million shares, more than four times the three-month daily average. The shares dropped 26 percent on March 14, 2003. Weak demand for finance and accounting workers led to the lower rating on the recruiter, Sommer said.
Citrix updates, refiles reports
Citrix Systems Inc. filed updated financial documents Friday after completing an internal investigation of stock option granting practices. Citrix, a computer-networking softwaremaker, refiled its 2006 annual report and quarterly reports, for the three months ended March 31 and June 30, with the Securities and Exchange Commission. The investigation found no intentional wrongdoing by any current executive of the company.
Jailed ex-Enron CEO seeks new trial
Imprisoned former Enron chief executive Jeffrey Skilling asked Friday for a new trial, saying the Justice Department used incorrect legal theories and "coercive and abusive tactics" to convict him. Skilling was sentenced in October to more than 24 years in prison for his role in the collapse of Enron, once the nation's seventh-largest company.
New Gatorade will have fewer calories
Pepsi is offering a new low-calorie version of Gatorade in an effort to keep customers who have strayed from the sports drink in search of lower-calorie drinks. PepsiCo Inc. said the product, called G2, will have 25 calories per 8-ounce serving and is the first new Gatorade product since the original drink, developed at the University of Florida, was introduced in 1967. The original lemon-lime Gatorade has 50 calories per 8-ounce serving. PepsiCo said it will distribute G2 starting in December to convenience stores, gas stations and retail outlets. The new Gatorade will come in three flavors: fruit punch, grape and orange.
Ruling allows Guitar Center vote
Guitar Center Inc., the largest U.S. musical instrument retailer, can hold a Sept. 18 shareholders' vote on whether to accept a $63-a-share offer from buyout firm Bain Capital Partners LLC, a judge ruled. Lawyers for an investor with a single share of the company didn't prove the $1.9-billion buyout process was unfair, Judge Leo Strine Jr. said Friday in Delaware Chancery Court. Guitar Center has stores in Clearwater and Tampa.
TXU shareholders okay $32B deal
TXU Corp. shareholders voted Friday to sell the company for $32-billion in one of the largest leveraged buyouts ever. Investors led by private-equity firms Kohlberg Kravis Roberts & Co. and TPG, formerly Texas Pacific Group, hope to complete the deal soon.
[Last modified September 7, 2007, 23:55:34]
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