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0803 EST 19Feb2010
Canadian Solar falls after cutting margin outlook

Chinese solar-cell maker Canadian Solar Inc on Friday cut its outlook for gross margins in the fourth quarter.

The company currently expects gross margins in the mid-teens, compared with prior estimates for margins in the high-teens, on a percentage basis.

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The stock sank 9.8 percent to $22.31 in premarket trading.

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0753 EST 19Feb2010
Toyota head prepares for Congress testimony

The head of Toyota Motor Corp bowed to pressure to testify before U.S. lawmakers and explain the company's safety crisis, becoming the highest profile Japanese executive to face such a grilling from Congress.

Akio Toyoda, the grandson of Toyota's founder, said on Friday he intends to provide a 'sincere explanation' of the problems that led to the recall of millions of vehicles when he testifies next Wednesday before a congressional panel.

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Shares of Toyota closed Thursday at $73.44.

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0750 EST 19Feb2010
MDS to repurchase 46 pct of shares

MDS Inc said on Friday that it planned to buy back more than 40 percent of its outstanding shares as the Canadian company advances its plans to narrow its focus to nuclear imaging.

The Toronto-based company, which announced its intention to conduct the 'substantial' share buyback earlier this month, said it would cancel between 40 percent and 46 percent of its shares worth up to $450 million.

MDS plans to buy back the shares at $8.10 to $9.30 each in a modified Dutch auction.

The company's shares closed at $8.10 on the New York Stock Exchange on Thursday.

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0746 EST 19Feb2010
United Therapeutics pulls EU drug application

United Therapeutics Corp said it withdrew the European marketing application for its drug Tyvaso after the European regulator raised a major objection regarding non-compliance with good clinical practices at two clinical sites.

The data included in the application is based upon clinical work performed from 2005 to 2007 by United Therapeutics' subsidiary Lung Rx, the company said.


Tyvaso is an inhaled drug to treat pulmonary arterial hypertension, high blood pressure in vessels connecting the lungs to the heart, and was approved by the U.S. Food and Drug Administration last July.

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Shares of United Therapeutics closed Thursday at $56.01.

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0741 EST 19Feb2010
Financial reform bill seen in Senate next week

Efforts to tighten U.S. financial regulation advanced on Thursday, with a new bipartisan bill expected next week from two key senators who were working on it while traveling together in Panama.

Senate Banking Committee Chairman Christopher Dodd, a Democrat, and Republican Senator Bob Corker, a first-term member of Dodd's panel, told reporters they were discussing legislation while touring several Central American nations.

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0730 EST 19Feb2010
Futures fall after surprise Fed move

U.S. stock index futures dipped on Friday on a surprise announcement by the Federal Reserve on Thursday that signaled to some investors that the central bank may be retreating from its easy money policy.

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Dow Jones industrial average futures fell 47 points while S&P 500 futures slid 6.7 points and Nasdaq 100 futures lost 7.25 points.

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