His decision to leave the casual-apparel retailer comes after Gap shook up management last year, including ousting its top designer, as part of a turn-around plan.

After Tom Wyatt departs, effective Feb. 3, to become the chief executive of Knowledge Universe United States, Gap plans for two Old Navy veterans–division Chief Creative Officer Nancy Green and Tom Sands, executive vice president of stores and operations for Old Navy–to lead Old Navy in the interim.

It will conduct a formal search for a permanent president of Old Navy.

Wyatt, 56, joined Gap in 2006 and had led Old Navy since August 2008.

The company said Green has more than 19 years of experience within Gap, having started as a merchandise trainee in 1986. Sands will take on additional operational functions within the brand. Sands has held senior operations roles within Gap, having previously worked at Target Corp. (TGT).

Lately, Gap’s earnings have been sliding, although its bottom lines have been exceeding guidance after several key trend misses in recent years. In October, the retailer said it would shut 21% of its namesake North American stores over the next two years, coming to terms with the overextension of its store network before the recession and predictions that U.S. growth will be slow.

Shares were down 1.3% at $19.12 after hours.

SOURCE: http://www.marketwatch.com/story/gaps-old-navy-pres-leaves-for-education-company-2012-01-19

South Korea’s biggest conglomerate didn’t provide a breakdown of the investment plans by business division but said its facilities investment will total KRW31 trillion this year, up 11% from last year, while capital outlays for research and development will increase 13% to KRW13.6 trillion. The remainder will be used for capital investment, it said.

The group’s flagship unit, Samsung Electronics, has said in recent months that it will sharply increase its investment into new business areas at a time when its mainstay businesses–memory chips and liquid crystal displays–have been buffeted by a faltering global economy.

Samsung Group oversees about 66 affiliates, with businesses ranging from electronics to finance and insurance,

Last year, the group spent KRW42.8 trillion won ($37.2 billion).

Meanwhile, the group also said it plans to hire 26,000 employees this year, up 4% from last year.

SOURCE: http://www.marketwatch.com/story/samsung-sets-record-investment-budget-for-2012-2012-01-16

Shares were down 3.8% at $23.15 in after-hours trading. Through the close, the stock has fallen 33% in the last year, worse than the market at large.

Shutterfly said Thursday Chief Financial Officer Mark Rubash would depart Feb. 24 through the company’s year-end accounting close and annual audit process, at which time Chief Executive Jeff Housenbold and Chief Accounting Officer Brian Manca would assume his responsibilities while the company searches for a new CFO. Rubash is leaving to follow a personal interest in technologies with an unnamed early-stage cardiovascular-diagnostic services company.

Housenbold said Shutterfly has a “talented bench of leaders” to rely on following Rubash’s departure.

The company’s photo sharing and printing Web site has grown in popularity. However, last month Shutterfly lowered its fourth-quarter guidance, saying heavy competitor discounting was contributing to a revenue shortfall.

In the third quarter, Shutterfly’s loss widened as significantly higher sales and marketing costs overpowered a 56% jump in revenue.

SOURCE: http://www.marketwatch.com/story/shutterfly-cfo-to-depart-for-med-tech-firm-2012-01-12

The petitions from the appliance maker, whose brands also include KitchenAid and Maytag, follow a similar action taken in March in regard to refrigerators.

The company said it seeking enforcement of U.S. and international trade laws.

“When foreign manufacturers are permitted to dump products into the United States, it undermines competition,” said Marc Bitzer, president of Whirlpool North America. “It is important for an open global trading system to have a process for enforcement to maintain the integrity of the system and provide all manufacturers a level playing field on which to compete.”

Samsung and LG representatives weren’t immediately available for comment.

Whirlpool produces its clothes washers in Clyde, Ohio, and the plant employs more than 3,500 workers.

In October, the U.S. Commerce Department made preliminary determinations on the antidumping duties it will set on refrigerators from South Korea and Mexico. For South Korean producers, Commerce set a duty ranging from 0% to 32.2%, depending on the manufacturer. For refrigerator makers in Mexico, the duty ranges from 16.44% to 36.65%.

Last month, Moody’s Investors Service lowered its outlook on Whirlpool from positive to stable, citing weakening global demand trends. The credit-rating firm affirmed Whirlpool’s Baa3 rating, which is one notch above junk-rating territory.

Whirlpool reported in October its third-quarter earnings more than doubled, but the company announced a cost-reduction plan as sales grew slower than expected.

SOURCE: http://www.marketwatch.com/story/whirlpool-calls-for-probe-into-samsung-lg-2011-12-30

The company distributes specialty products, such as highly engineered steel pipe and valves, to the energy sector. It plans to use the proceeds to repay debt and for other general corporate purposes.

For the nine months ended Sept. 30, Edgen’s loss narrowed to $18.1 million as sales jumped 44%, according to its regulatory filing.

Following the planned IPO, Edgen will have two classes of common stock. Edgen Holdings LLC, an entity controlled by affiliates of Jefferies Capital Partners, will hold all of the Class B shares.

Edgen intends to list its Class A stock on the New York Stock Exchange under the symbol EDG.

SOURCE: http://www.marketwatch.com/story/edgen-group-files-for-100-million-ipo-2011-12-29

The pre-launched orders received ahead of Monday’s release are five times the company’s monthly sales target for the new car of 12,000 vehicles.

“It will take about four months” to receive the car once an order is placed, Koei Saga, a Toyota managing officer, told reporters at a media briefing on the debut of the new hybrid.

SOURCE: http://www.marketwatch.com/story/toyota-receives-pre-orders-for-60000-aquas-2011-12-26

SunPower shares were up 26% in premarket trading at $7.38. However through Thursday’s close, the stock is off roughly 55% in the past year.

Under the deal, expected to close early next year, Sunpower will pay $165.4 million for Total’s Tenesol business and Total, its biggest shareholder, has agreed to acquire an additional 18.6 million SunPower shares in a private placement for $8.80 each, a roughly 50% premium to Thursday’s close. The move raises Total’s stake in SunPower to roughly 66%.

Tenesol posted EUR240 million ($313.4 million) in revenue last year and expects to report revenue of about EUR200 million for 2011.

Sunpower and Total also agreed to pursue negotiations for several additional agreements related to direct investments in SunPower’s research and development.

SOURCE: http://www.marketwatch.com/story/sunpower-to-acquire-totals-solar-line-for-1654m-2011-12-23

Colbert Seagraves, Viper Motorcycle Company’s Vice President of Marketing and Racing Operations stated, “We plan to have the Platinum Distribution agreement in place with AMV during the first quarter of 2012.  As we continue to move forward expanding our dealer network, our commitment to excellence is represented by our choice of Platinum Overseas Distributors.” 

Graham Manchester, Managing Director of AMV said “AMV is delighted to enter a formal agreement with Viper Motorcycles and already has an ongoing relationship with Ilmor in the UK. We were pleased to be told that Ilmor were involved in building a special V twin for the new Viper motorcycle. This bike breaks new territory in the UK and Europe, being dubbed  a “supercruiser” and, with the new EU regulations looming, a slowing market in sports bikes and very little new in naked or existing V twins, this new bike offers serious riders a new and exciting form of two wheeled enjoyment and above all it has an engine built in the UK.

“AMV specializes in the development of new markets, especially for exotic motorcycles. Initially, for the sales of Viper motorcycles, we will be looking to appoint two outlets in the UK, one in the North West and one in London; we will also be seeking to expand the brand onto the mainland of Europe.” AMV can be contacted in the UK, 0844 800 28 20 or email info@amvmotorcycles.com

John Silseth, CEO of Viper Powersports stated, “The Viper Diamondback Super Cruiser is in a league of its own and we are setting up a worldwide distribution network to match.   We recently signed our initial Platinum distributor out of Dubai, and bringing AMV motorcycles on as our second overseas distributor is key to developing Viper into a truly worldwide brand.”

ABOUT VIPER POWERSPORTS, INC: Viper Powersports designs, manufactures and markets a line of premium American V-Twin Super Cruiser motorcycles, V-Twin aftermarket engines and other related aftermarket products through an independent dealer network. Joint venture partner Ilmor Engineering (www.ilmor.com), provides technical developmental support for the proprietary 152 cubic inch Viper V-Twin engine, utilizing their 25 years of engine design expertise, ensuring Viper’s long term success as America’s newest domestic OEM of motorcycles. Viper Motorcycle Company website is www.vipermotorcycle.com.

The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the fore-going statements. Readers accordingly should not place undue reliance on these forward-looking statements, which do not reflect anticipated or unanticipated events or circumstances occurring after the date of these forward-looking statements.

FOR MORE INFORMATION CONTACT:

Colbert Seagraves
VP of Marketing & Racing Operations
Viper Motorcycle Company
Tel: (334) 321-4284
E: cseagraves@vipermotorcycle.com

John R. Silseth
Chief Executive Officer
Viper Powersports, Inc.
Tel: (334) 887-4445
E: jsilseth@viperpowersports.com 

Timothy C. Kling
Investor Relations
Chief Financial Officer
Viper Powersports, Inc. 
Tel: (334) 887-4445
E: tkling@viperpowersports.com

SOURCE: http://www.viperpowersports.com/

Graceway, which filed for Chapter 11 bankruptcy protection in September, is a specialty pharmaceutical company that makes products that treat various dermatological and women’s health conditions.

Medicis Chairman and Chief Executive Jonah Shacknai said the acquisition adds currently approved Gateway products as well as several mid- and late-stage pipeline products with combined annual net sales potential of more than $500 million.

The deal is expected to add to Medicis’ earnings next year and the company plans to update its financial guidance when the deal closes. The deal requires the approval of Medicis’s board and final approval of the bankruptcy court.

Medicis makes dermatalogical and aesthetic pharmaceutical products, including acne treatment Solodyn as well as Dysport, which competes with Allergan Inc.’s (AGN) Botox.

Last month, Graceway won permission to sell its business for $275 million cash to European pharmaceutical company Galderma SA, subject to higher bids at the auction.

Graceway, which filed for bankruptcy with a purchase offer in hand from Galderma, was founded in 2006 through the partnership of industry veteran Jefferson J. Gregory and Chicago-based private-equity firm GTCR Golder Rauner. In 2007, the company acquired 3M Pharmaceuticals for approximately $875 million. The same year Graceway merged with dermatology pharmaceutical company Chester Valley Pharmaceuticals, also partially owned by GTCR.

The Bristol, Tenn., company blamed its hardship on the emergence of a generic alternative to its top-selling Aldara genital warts cream. Aldara accounted for the majority of the company’s sales until last year, when revenue plummeted under competitive pressure from the generic. Revenue from the core product topped $320 million in 2009. In 2010, Aldara sales brought in only $52 million, court papers say.

SOURCE: http://www.marketwatch.com/story/medicis-tapped-to-buy-graceway-for-455-million-2011-11-18

Looking ahead, the company, which makes tools used to make semiconductors, television screens and some solar panels, projected an adjusted first-quarter profit of 8 cents to 16 cents a share and a sequential sales decline between 5% and 15%, which would deliver $1.85 billion to $2.07 billion in revenue. Analysts’ average estimate called for 17 cents and $2.06 billion, according to a poll by Thomson Reuters.

Applied Materials had posted double- and triple-digit bottom-line growth earlier in the year as growing consumer demand and a then-improving solar sector boosted sales. But the tool maker sharply tempered its optimism for the current quarter as solar-panel makers struggle with declining orders and personal-computer manufacturers face similarly tough demand.

The latest quarter included the impact of Applied Materials’ $4.9 billion deal for Varian Semiconductor Equipment Associates Inc., a recent addition to the company’s wafer-fabrication offerings.

For the quarter ended Oct. 30, Applied Materials reported a profit of $456 million, or 34 cents a share, down from $468 million, or 35 cents a share, a year earlier. Excluding a $203 million gain from audits on prior-year tax filings, stock compensation and other items, earnings fell to 21 cents from 36 cents as revenue dropped 24% to $2.18 billion.

The company’s deeply pessimistic August guidance called for a per-share profit of 16 cents to 24 cents with revenue falling 15% to 30% sequentially to between $1.95 billion and $2.37 billion.

Gross margin narrowed to 39% from 42.2%.

New equipment orders, a closely watched metric for Applied Materials, decreased 47% to $1.6 billion amid weaker demand for mobile and television display screens and pressure in the energy and environmental solutions segment, which provides tools for solar-panel manufacturers. Backlog fell by $851 million to $2.39 billion at the end of the quarter.

Shares fell 1.6% to $12.27 after hours. The stock was down 11% this year through the close.

SOURCE: http://www.marketwatch.com/story/applied-materials-earnings-slip-shares-down-2011-11-16