- NEW YORK (MarketWatch) -- Human Genome Sciences said it has received a $7 million milestone payment from GlaxoSmithKline related to its drug used in the treatment of diabetes. Of the total, $2 million was recognized in the second quarter and the remaining $5 million will be recorded in the third quarter. The stock closed Friday down 7 cents at $14.65. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. LONDON (MarketWatch) -- General Motors Corp. will cut prices on 30 of its 2006 models to attract new customers, Bloomberg News reported Monday, citing anonymous sources. The price cuts, scheduled to be announced Monday, will amount to as much as $4,800 on the Cadillac DTS, the report said. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. WASHINGTON (MarketWatch) -- Global semiconductor sales amounted to $17.98 billion in June, off 0.5% from May's $18.07 billion, reflecting inventory adjustments in the distribution channel and price attrition in DRAM chips, according to the latest monthly data from the Semiconductor Industry Association. The sales also rose by 0.8% from $17.84 billion reported in June 2004. The SIA trade group also noted that global sales for the first half -- $109 billion -- ran 6.5% higher than in the comparable period of 2004, with expectations for stronger growth coming for the semiconductor sector during the second half. Semiconductor manufacturing capacity utilization rose in the second quarter after two quarters of sequential decline, and most of the major end markets for semiconductors saw unit sales substantially above expectations in the June quarter, San Jose, Calif.-based SIA said. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. NEW YORK (MarketWatch) -- Procter & Gamble reported fiscal fourth-quarter earnings of $1.5 billion, or 56 cents a share, up from $1.37 billion, or 50 cents a share in the same period a year ago, and above the average analyst estimate compiled by Thomson First Call of 55 cents a share. Revenue rose 10% to $14.26 billion from last year's $12.96 billion, exceeding analyst forecasts of $14.05 billion. Unit volume increased 6%, while gross margins contracted 1.1 percentage points due in part to higher commodity costs. The household products company said it was comfortable with current analyst earnings forecasts for its fiscal first quarter and 2006. The stock, a component of the Dow industrials, closed Friday down 19 cents at $55.63. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. LONDON (MarketWatch) -- Lincoln Educational Services said second-quarter net income slid to $42,000, or 0 cents a share, from $860,000, or 4 cents a share, while revenue rose to $68.2 million from $59.2 million. It sees earnings between 73 cents and 81 cents on revenue up between 16% and 21%. It said the earnings decline was a result of higher costs to drive second-half growth. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. NEW YORK (MarketWatch) -- Playtex Products reported second-quarter earnings of $6.2 million, or 10 cents a share, down from $8.3 million, or 13 cents a share in the same period a year ago. Excluding non-recurring items, earnings would have been 14 cents a share, exceeding the average analyst estimate compiled by Thomson First Call of 12 cents a share. Revenue declined to $177 million from last year's $185.5 million, vs. analyst forecasts of $182.5 million, as weakness in infant care sales offset gains in skin care sales. The household product maker reiterated its outlook for 2005. The stock closed Friday down 20 cents at $10.66. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. LONDON (MarketWatch) -- RadioShack Corp. said it will sell Cingular Wireless' full line of post-paid and GoPhone pre-paid products for ten years, starting in the first quarter of 2006, and inked an 11-year pact with Sprint Corp. to sell Sprint PCS products. It will stop selling Verizon Wireless products at the end of 2005; Verizon is owned by Verizon Communications and Vodafone Group . Cingular is owned by SBC Communications and BellSouth Corp. . RadioShack reiterated its 2005 earnings per share guidance of $1.80 to $1.90. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. LONDON (MarketWatch) -- Yankee Candle was downgraded to neutral from overweight by J.P. Morgan, with the broker also removing the company from its focus list. "While we think the company's strong returns and ongoing buyback program provide a decent floor for the stock, we are increasingly wary that fundamentals might continue to disappoint us and YCC shares are likely to be range bound," the broker said. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. NEW YORK (MarketWatch) -- First Mutual Bancshares Inc., the Bellevue, Wash., holding company for First Mutual Bank, increased its quarterly dividend 11% to 10 cents a share, payable October 5 to shareholders of record September 14. The company's shares were unchanged Friday at $26.17. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. LONDON (MarketWatch) -- Finnish mobile phone giant Nokia said that its has appointed Olli-Pekka Kallasvuo chief executive officer, president and chief operating officer. Kallasvuo will take over the presidency and role of chief operating officer on Oct. 1 and will assume the position of chief executive in June the following year. Kallasvuo joined Nokia in 1980 and currently heads the mobile phones business group. Current chairman and chief executive officer, Jorma Ollila, will continue as non-executive chairman from June next year. Nokia's current president, Pekka Ala-Pietila, will resign to pursue personal interests. He will take on the role of executive advisor on Oct. 1 and leave Nokia on February 1, 2006. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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