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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...

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...

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...

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...

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...

Agricultural machinery maker Deere & Co. (DE), Tuesday said it will review options for its crop insurance business, which underwrites policies through John Deere Insurance Company, a business unit within John Deere Financial. Deere said no formal decisions have been made and no agreements have been...

Pepco Holdings Inc. (POM) Tuesday said its stockholders approved the merger deal with Exelon Corp. (EXC). In April, Exelon, the largest U.S. nuclear operator, agreed to buy electric and natural gas utility company Pepco Holdings Inc. (POM) in an all-cash transaction of about $6.8 billion. "We are...

Galmed Pharmaceuticals Ltd. (GLMD) announced Tuesday that the U.S. Food and Drug Administration, or the FDA, approved its request for Fast Track Designation of its product candidate, aramchol, for the treatment of Non-Alcoholic Steato-Hepatitis, or NASH. According to scientific literature, NASH is...

Webster Financial Corp. (WBS), the holding company for Webster Bank, N.A., said that it had signed a definitive agreement to acquire the health savings account or HSA business from JPMorgan Chase Bank, N.A., a subsidiary of JPMorgan Chase & Co. (JPM). Transaction consideration will be all cash; the purchase...