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Aviation and aerospace company AAR Corp (AIR) Tuesday reported first-quarter net earnings of $14.4 million or $0.36 per share compared with $17.9 million or $0.45 per share last year. Revenues for the quarter were $469 million compared with $514.5 million in the prior year. Analysts polled by Thomson...

Steelcase Inc. (SCS) reported second quarter net income of $30.5 million or $0.24 per share, compared to $27.6 million or $0.22 per share for the year-ago quarter. Excluding restructuring costs, adjusted earnings for the latest quarter were $0.27 per share. Revenue for the second quarter rose to...

Engineering and construction company Fluor Corp (FLR) said Tuesday it was awarded an engineering, procurement, fabrication and construction contract by Fort Hills Energy L.P. for the utilities scope of the Fort Hills oil sands mining project. The project is located about 90 kilometers north of Fort McMurray...

Bank of America Corp. (BAC) on Tuesday announced a Catalytic Finance Initiative, designed to stimulate at least $10 billion of new investment into high-impact clean energy projects. The initiative will focus on developing or advancing innovative financing structures that reduce investment risk, thereby...

Celgene Corp (CELG) said Tuesday the U.S. Food and Drug Administration has approved Otezla (apremilast), the company's oral, selective inhibitor of phosphodiesterase 4 (PDE4), for the treatment of patients with moderate to severe plaque psoriasis for whom phototherapy or systemic therapy is appropriate. Otezla...

Activist investor William Ackman has threatened to sue botox maker Allergan Inc. (AGN) if it agrees to a merger deal with Salix Pharmaceuticals Ltd. (SLXP) that does not require shareholder approval, the Wall Street Journal reported on Tuesday citing a letter sent to Allergan board. According to media...

PDL BioPharma, Inc. (PDLI) said Tuesday that it has been informed of a class action lawsuit filed against the company that alleges violations of federal securities laws. The company said it disputes the allegations in the complaint and that it will vigorously defend the lawsuit. "We believe that...

General Motors Co. (GM) on Tuesday announced a strategic realignment that will establish its luxury brand Cadillac as a separate business unit. In addition, the new Cadillac organization will expand to New York with a new global headquarters opening in 2015. "With the relentless upward repositioning...

TRW Automotive Holdings Corp (TRW) said Tuesday it has signed a seven year long term agreement with Daimler Trucks North America ("DTNA") to be the standard steering system supplier across the DTNA lineup. TRW will supply Freightliner, Western Star, Thomas Built Bus, and Freightliner Custom Chassis...

OPKO Health Inc. (OPK) Tuesday said the advanced study of Rayaldee as a treatment for secondary hyperparathyroidism in patients with chronic kidney disease and vitamin D insufficiency has met its primary endpoints. The second and final pivotal phase 3 trial intended to establish the safety and efficacy...

Sysco Corp. (SYY) said Tuesday that it plans to issue unsecured notes in a public offering. The notes are expected to be issued in six parts with maturities ranging from three years to 30 years. Sysco plans to use the net proceeds from the sale of the notes to pay the cash portion of the consideration...

Diversified utility company Pepco Holdings Inc (POM), Tuesday said its stockholders have approved the $6.8 billion merger with Exelon Corp (EXC), the largest nuclear operator in U.S. Completion of the deal is subject to customary closing conditions, approval by the Federal Energy Regulatory Commission,...

BMC Software, Inc. said Tuesday that it has filed a patent infringement lawsuit in the U.S. District Court for the Eastern District of Texas against Santa Clara, California-based ServiceNow, Inc. (NOW). According to the lawsuit, ServiceNow has built much of its business around the infringement of...

Agricultural machinery maker Deere & Co (DE) said Tuesday it will review strategic options for its crop insurance business and has retained Citi as exclusive financial advisor toward that end. Deere said no formal decisions have been made and no agreements have been reached concerning the company's...

Novavax Inc (NVAX), a clinical-stage biopharmaceutical company, said Tuesday it executed a contract modification with the U.S. Department of Health and Human Services, Biomedical Advanced Research and Development Authority (BARDA) to exercise the option period of its current contract for the advanced...