4:20 pm : Despite the FOMC minutes offering little clarity on the interest rate outlook, a sense that the market is oversold on a short-term basis, as evidenced by some end-of-the month portfolio rebalancing, helped the major averages close near session highs. However, it remains to seen if today's reflex rally will be sustainable as the axiom "sell in May and go away" held true as stocks bounced back following Tuesday's drubbing but still turned in one of their worst monthly performances in years.
With the market still reeling since the Fed last raised interest rates on May
Get Hip to Tofu! It's not just for hippies! Tofu has timeless health benefits, and is one of the most nutritious sources of protein there is. Try it as a low-fat stand-in in dishes that normally call for meat.
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Report: False testimony in Haditha probe Marine Gen. Peter Pace, chairman of the Joint Chiefs of Staff, said on CBS's "The Early Show" on Monday that "it would be premature for me to judge the outcome" of an investigation into the killing of civilians in Haditha, Iraq, last November. (AP Photo/Manuel Balce Ceneta, File)
2:51 pm PT Helix Energy Announces Filing for Initial Public Offering of a Minority Stake in Its Subsidiary, Cal Dive International, Inc. (HELX) 35.46 +1.63 : Co�announced that Cal Dive International, Inc. (a wholly-owned subsidiary) filed with the SEC a Form S-1 for its planned initial public offering (IPO) of a minority interest in Cal Dive's common stock. The offering will be made only by means of a prospectus. A registration statement relating to the IPO of Cal Dive International, Inc. stock has been filed with the SEC but has not yet become effective.��
2:21 pm PT Knoll Executive Establishes 10b5-1 Plan (KNL) 18.50 +0.18 : Co announced today that Barry L. McCabe, Senior Vice President and C.F.O., has adopted a trading plan pursuant to Rule 10b5-1 under the SEC. The plan provides for the exercise of up to 80,322 options and the sale of the shares received from such exercise, which represent a portion of Mr. McCabe's holdings. The plan terminates once the share limit is reached or December 31, 2006.
1:54 pm PT Telephone & Data and USM delay filing 2005 Form 10-Ks (TDS) 38.98 -0.33 : Telephone and Data Systems (TDS) and United States Cellular Corp (USM) will delay the filing of their SEC Forms 10-K for the year ended Dec. 31, 2005. Require additional time to review financial information regarding leases. The companies had expected to file their Forms 10-K on or prior to May 31, 2006.� Due to the restatement, TDS and U.S. Cellular have not filed their Forms 10-K for the year ended Dec. 31, 2005, or their Forms 10-Q for the quarter ended March 31, 2006, on a timely basis. As a result, TDS and U.S. Cellular are not in compliance with American Stock Exchange (AMEX) listing standards. TDS and U.S. Cellular have obtained extensions until June 30, 2006 to regain compliance with AMEX listing standards. The restatements and delays in filing quarterly and annual reports resulted in defaults under revolving credit agreements between the companies and certain lenders and under certain forward contracts between subsidiaries of the companies and a counterparty. Waivers of such defaults obtained previously were extended, on the condition that the companies file their Forms 10-K for the year ended Dec. 31, 2005 and Forms 10-Q for the quarter ended March 31, 2006 by June 30, 2006.
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