latest news releases from the newsroom
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.
Music Choice Reports an Increase of 1.2 Million New Customers in Q3, 2002
HORSHAM, Pa., Oct. 17, 2002 (PRIMEZONE) -- Music Choice, the largest provider of commercial-free digital music via cable and satellite, and distributor of an exclusive Concert Series through a nationwide network of cable systems, today announced an increase of 1.2 million new Music Choice customers for the quarter ended September 30, 2002. Music Choice has realized a total increase of 3.3 million new customers year-to-date bringing the total cable and DIRECTV(r) homes with Music Choice to 25.2 million.
bTrade and CROSSMARK Team Up to Offer Wal-Mart Suppliers Free `TDAccess Wal-Mart Edition'
IRVING, Texas, Oct. 17, 2002 (PRIMEZONE) -- bTrade, inc. and CROSSMARK announced today a no-charge program designed to quickly and easily bring CROSSMARK clients who are suppliers to Wal-Mart (NYSE:WMT) onto the Internet. This promotion combines bTrade's rapidly deployable, proven EDIINT collaboration software with order management services provided by eXchangeBridge to bring suppliers a world class collaboration solution.