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NYSE/NASDAQ SNAPSHOT: Goldman Sachs, Nokia, AAR, AIG, and others

Proactive Investors
Friday, 15 June 2012

Former *Goldman Sachs Group (NYSE:GS) *board member Rajat Gupta Friday was convicted of illegally tipping his hedge-fund manager friend Raj Rajaratnam with secrets about the investment bank.

This was a major victory for prosecutors seeking to root out insider trading on Wall Street.

Moody’s Investors Services has downgraded struggling Finnish cellphone maker *Nokia’s (NYSE:NOK)* credit rating to junk status, with a negative outlook.

Nokia’s crediting rating for long term senior unsecured debt has been downgraded to Ba1 from Baa3. This is the second downgrade by Moody’s within three months.

*AAR Corp. (NYSE:AIR)* late Thursday announced preliminary fourth quarter sales ahead of Wall Street views, but profits lagged behind expectations.

The Wood Dale, Illinois-based company makes products and offers services to the aviation, defence and government markets globally.

The Federal Reserve Bank of New York said that loans it set up to help the bailouts of *American International Group (NYSE:AIG)* and now defunct investment bank Bear Stearns during the financial crisis, have been fully repaid.

In total, $53.12 billion in loans were repaid with interest.

*Resolute Forest Products (TSE:RFP) (NYSE:RFP)* said Friday it would indefinitely idle its Mersey newsprint mill in Nova Scotia, citing it was unable to compete due to falling prices.

The company formerly traded under the AbitibiBowater name. The plant, which will be idled starting on June 17 is a joint venture between Resolute Forest and media company the Washington Post (NYSE:WPO).

*Wabtec Corp (NYSE:WAB)* said Friday that it has acquired Mors Smitt Holding, an electronic components maker for rail and industrial markets, from investment firm Eurazeo PME for around $88 million, in an effort to expand its international footprint.

Mors Smitt has annual sales of roughly $60 million, with operations in the Netherlands, the UK, the US, France, China and Hong Kong.

*Valeant Pharmaceuticals International (NYSE:VRX)(TSE:VRX) *agreed to buy specialty oral health company OraPharma from Water Street Healthcare Partners in a deal valued at $312 million.

The deal, which is slated to close by June, also includes a payment of up to $114 million based on certain milestone and revenue targets.

*Motorola Solutions (NYSE:MSI)* announced Friday that it will acquire mobile computing company Psion Plc for US$1.36 per share in cash (88 pence), for a total cost of $200 million.

London-based Psion helps global customers solve their business problems through mobile communications technology and applications.

*Human Genome Sciences (HGS)(NASDAQ:HGSI)* has set a July 16 deadline for takeover bids. It's also urging hostile bidder GlaxoSmithKline (GSK)(NYSE:GSK) – which has a $2.6 billion offer on the table – to join a friendly bidding process.

The biotech company has already rejected the $13 per share offer as inadequate.

Market research firm NPD Group said late Thursday that video hardware and software sales fell 28% in May compared to the same month a year ago.

Stocks of videogame publishers such as *Electronic Arts (NASDAQ:EA) *and *Activision Blizzard (NASDAQ:ATVI)* could move in trading once the market opens Friday.

*Dyax (NASDAQ:DYAX)* reported late Thursday its decision to discontinue a Phase 2 trial of ecallantide to treat a type of angioedema, citing it was not working better than placebo.

The news sent the drug maker’s share price tumbling by nearly 11 percent falling to $1.90 each on the Nasdaq on Friday afternoon.

*Life Technologies Corporation (NASDAQ:LIFE) *announced Friday that it has signed a licensing agreement with iPS Academia Japan for global patent portfolio rights to iPS' induced pluripotent stem cell technology.

The life science solutions company said the non-exclusive agreement will allow it to expand its range of products and services for the iPS cell research community.

*II-VI (NASDAQ:IIVI)* saw its shares fall over 12 per cent Friday, a day after the company revised its fiscal fourth-quarter sales and profit expectations, which lagged behind analysts' expectations.
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