latest news releases from the newsroom
TietoEnator: New Business Area Comparison Figures for First Half of 2002 and 2001
ESPOO, Finland, Oct. 18, 2002 (PRIMEZONE) -- Certain TietoEnator (Other OTC:TCYBF) units in Germany, Denmark and The Netherlands have been transferred from Business Area Telecom & Media to Business Areas Banking & Finance and Public & Healthcare. The reorganization has been done in order to strengthen the vertical position of Banking & Finance in Germany and the Netherlands and that of Public & Healthcare in Denmark as well as to better reflect the customer base of the units. Additionally, one Finnish unit formerly belonging to Business Area Banking & Finance has been transferred to Business Area Telecom & Media. As a whole, the units in question generate net sales of approximately EUR 30 million annually and employ some 240 people.
Murray, Frank & Sailer LLP
Attention Purchasers of Covad Communications, Inc. Securities: Rabin & Peckel LLP Commences Class Action Against Goldman, Sachs & Co., Credit Suisse First Boston Corp., and Morgan Stanley Dean Witter & Co. Alleging Violations of Federal Securities Law -- COVD
NEW YORK, Oct. 17, 2002 (PRIMEZONE) -- A class action complaint has been filed in the United States District Court for the Southern District of New York, civil action number 02 cv 8272, on behalf of all persons or entities who purchased or otherwise acquired securities of Covad Communications, Inc. ("Covad" or the "Company") (OTCBB:COVD) between January 27, 1999 through December 18, 2000, both dates inclusive (the "Class Period"). Goldman, Sachs & Co. ("Goldman Sachs"), Credit Suisse First Boston Corporation ("CSFB"), and Morgan Stanley Dean Witter & Co. ("Morgan Stanley") are named as defendants in the complaint.
Northrop Grumman Corp.
Northrop Grumman Provides Additional Financial Guidance for 2003 and 2004
LOS ANGELES, Oct. 17, 2002 -- Northrop Grumman Corporation (NYSE:NOC) announced today that it is providing additional financial guidance for 2003 and 2004. Sales in 2003 are expected to range between $19 billion and $19.5 billion versus the approximately $19 billion stated during the conference call. The company also stated that the correct effective tax rate to apply to 2003 economic earnings projections is approximately 31 percent, the same as the guidance for 2002, rather than the 29 percent indicated on the conference call. As announced earlier today in its press release and on the conference call, the company expects 2003 economic earnings to range between $7.60 to $8.10 per share, consistent with its previous 2003 economic earnings guidance for its ongoing businesses. The company confirmed that in 2004 it continues to expect double-digit sales growth. In addition, the company stated that it expects 2004 economic earnings to range between $8.35 and $8.85 per share.
Brower Piven, A Professional Corporation
Law Offices Of Charles J. Piven, P.A. Announces Class Action Lawsuit Against Kindred Healthcare, Inc. -- KIND
BALTIMORE, Oct. 17, 2002 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. today announced that a securities class action has been commenced on behalf of shareholders who acquired Kindred Healthcare, Inc. (Nasdaq:KIND) securities between August 14, 2001 and October 10, 2002, inclusive (the "Class Period").
SMS.ac Discusses U.S. Strategy at CTIA Conference
SAN DIEGO, Oct. 17, 2002 (PRIMEZONE) -- SMS.ac, Inc. chairman and chief executive officer Michael Pousti today addressed industry experts for the second time in as many days at CTIA, the largest conference in the U.S. associated with wireless data. Pousti says that while issues still exist that are inhibiting industry growth, increasing consumer demand for text messaging is reason for industry optimism.
Virage Reports Improved Fiscal Q2 Results
SAN MATEO, Calif., Oct. 17, 2002 (PRIMEZONE) -- Virage, Inc. (Nasdaq:VRGE), a leading provider of video and rich media communication software, today reported operating results for its second fiscal quarter ended September 30, 2002.