4:20 pm : Wednesday's spotlight�rested upon�new Federal Reserve Chairman Ben Bernanke. His testimony before the House Financial Services Committee was widely anticipated and closely watched. Upon the market's initial digestion, the indices reflected a modestly positive bias, but then gave back gains before managing to close moderately higher. The Fed Chief's comments essentially offered nothing surprising, and the market took comfort in that. His emphasized desire to maintain continuity with the Greenspan Fed further assuaged some of the market's anxiety that had built in
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JESSICA'S DIVA DEMANDS
Jessica Simpson, 25, likes to act clueless, but she can swing her celebrity weight like a pro. According to a studio source, weeks before the press tour for The Dukes of Hazzard began, "we were bombarded with a six-page pamphlet of demands for Jessica from the office of her dad, Joe Simpson." Among Jessica's requests: paid accommodations for her hairstylist and assistant in the same hotel as Jessica; a wardrobe budget estimated in the thousands of dollars; cases of Evian water; and paid private... •JEN FREAKS OVER ANGELINA'S NEW BABY •JULIA STILES, GWYNETH PALTROW AND MORE!
Saddam Reportedly Warned U.S. of Terrorism Former Iraqi President Saddam Hussein addresses the court during his trial Tuesday Feb. 14, 2006, in Baghdad, Iraq. Saddam and his seven co-defendants are on trial in the killing of nearly 150 Shiite Muslims in Dujail. (AP Photo/Chris Hondros, Pool)
2:41 pm PT Endwave CFO resigns (ENWV) : Co announces the resignation of Julianne Biagini as Executive VP and Chief Financial Officer, effective April 25.�Biagini will remain as CFO until her successor has transitioned into the role, and then at that time will take a personal leave of absence. Co has begun the process of identifying a potential CFO candidate. It is expected that Biagini's replacement will be on board in March.
2:40 pm PT Golf Galaxy to acquire The GolfWorks (GGXY) 19.06 -0.01 : Co announces that it has signed an agreement to purchase The GolfWorks. The acquisition is expected to close in early March. The purchase price, subject to customary closing adjustments, consists of a combination of approximately $4 mln in cash; GGXY common stock valued at approximately $4.5 mln; and warrants to purchase 150,000 shares of GGXYcommon stock, valued at approximately $1.5 mln. In addition, GGXY will assume approximately $5 mln in debt from The GolfWorks. GGXY said it expects the transaction to be neutral to�EPS in FY07 and accretive to EPS beginning in FY08.
2:30 pm PT Banco Rio de la Plata S.A announces new CFO (BRS) 30.48 -0.23 : Co announces the appointment of Perry L. Elders as Executive Vice President and Chief Financial Officer of the Company. Mr. Elders had been acting in the capacity of Senior Financial Advisor to Mr. William E. Chiles, President and CEO, since November 14, 2005.
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