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Williams Companies, Inc. (NYSE:WMB) is taking action to finance its subsidiary, Williams Partners (NYSE:WPZ), purchase of Caiman Midstream. To that effect, the parent company is offering 26 million shares, which are good for proceeds of $795 million based on Friday’s close.
VIVUS Inc. (NASDAQ:VVUS) and Arena Pharmaceuticals (NASDAQ:ARNA) might be grandfathered into of a new requirement that was voted in Thursday by an FDA advisory panel. The rule says that companies producing anti-obesity drugs must proactively evaluate potential cardiovascular risks prior to FDA approval of the meds, even even they have no prior history of such problems. In good news for Vivus and Arena, the panel allows data from pre-approval trials as valid in compliance with the the new rule, and Leerink Swann (which keeps its Outperform on both stocks) indicates that Vivus’ anti-obesity drug Qnexa, and Arena’s lorcaserin, likely fall into that category. The FDA is scheduled to rule on Qnexa by April 17th, and lorcaserin by June 27th.
Spanish Broadcasting System Inc. (NASDAQ:SBSA) says that increased national radio revenues in the New York and Puerto Rican markets helped it quadruple profits in its fourth quarter, compared to the same period of 2010. Consolidated net revenue amounted to $38.2 million, up from the $34.9 million posted for the fourth quarter of 2010, comprising a jump of $3.3 million or 9 percent.
Finish Line Inc. (NASDAQ:FINL) predicts in a fourth quarter earnings conference call, that it will begin to see the benefits from investments in fiscal year 2014. Also noted was that its operating margin rate will return to fiscal year 2012 levels in fiscal years 2015 and 2016.
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