Vail Banks, Inc., headquartered in Avon, Colorado, had consolidated assets of $705 million and $557 million in deposits, as of March 31, 2006. This company operates as the parent and holding company of WestStar Bank that operates 25 banking offices and 20 ATMs in 18 communities throughout Colorado.

Lead underwriters are Morgan Stanley and Deutsche Bank, with J.P.Morgan as the Co-Manager. The current plans are for 29.4 million shares at a proposed range of $16.00 to $18.00 per share, giving CTC Media a potential market value of $2.75 billion depending on price.

Yesterdays Closing Levels:
DJIA 11,125.33 (-18.73; -0.17%)
NASDAQ 2,172.86 (-21.03; -0.96%)
S&P500 1,262.07 (-4.96; -0.39%)
S&P FAIR VALUE PRE-MARKET +$3.12.

S&P FAIR VALUE -$0.52. US Stock futures indicated down 0.6% after additional selling in EU & Asia.

The underwriting group is massive: Goldman Sachs is the Lead Manager; Joint Book-Runners are Citigroup, HSBC, J.P.Morgan; and the co-managers are Bear Stearns, Cowen & Co., Deutsche Bank, Harris Nesbitt, KeyBanc Capital, and Santander Investment. The IPO will raise over $2.4 Billion and the implied market cap will be right at $5.6 Billion.

The company was purchased by private equity firms Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners -- unit of Goldman Sachs (GS) -- which bought Burger King in 2002 for $1.5 billion after a period of slumping sales. At the $17.00 pricing, it looks like the implied market cap of approximately $2.3 Billion, and an enterprise value with the debt of approximately $3.5 Billion. At the offering this represents about 19% of the shares being in the free float (see implications below).

Also as noted yesterday, when you see these implosions the balance sheet and revenue statements can be very misleading because the entire equation changes and you just do not know what the real picture will look like. After we find out what the financial terms are and what certain covenants are, then it is possible to form a longer-term opinion; but once again, when dealing with biotech implosions patience is usually better than trying to be brave.

S&P Fair Value +$1.03.

(AMAT) Applied Materials $0.29 EPS vs $0.23e; R$2.25B vs $2.15B(e);new orders $2.49B; stock trading down 1.8% pre-market.
(ANF) Abercrombie & Fitch $0.62 EPS vs $0.54e.
(AZN) AstraZeneca NXY-059 is safe in stroke studies and will seek FDA approval in 2007.
(BIDU) Baidu.com up 1% on hard disk search pact with IBM.
(CD) Cendant’s travel business are reportedly being looked at by private equity firms.
(CHRS) Charming Shoppes $0.24 EPS vs $0.24e.
(CPWR) Compuware $0.15 EPS vs $0.13e; R$309.48M vs $309.9M(e).
(CYB) Cybex 3.5M share secondary priced at $5.50.
(CYTC) Cytec noted positively in Barron’s online.
(DCEL) Dobson Communication largest holder entered into a variable share prepaid contract covering 7.2+M shares; started as Buy at Merrill Lynch.
(DLIA) Delia’s registered 4.1M shares for selling holders.
(FAL) Falconbridge gets buyout offer from Xstrata for remaining 80% not owned.
(GOL) Gol Linhas filed to sell preferred stock and convertible notes.
(HPQ) Hewlett Packard $0.54 EPS vs $0.49e; trading up$1.11 pre-market after beating earnings and raising guidance.
(LCRD) Lasercard $0.15 EPS vs $0.13e.
(MDT) Medtronic received FDA approval for Concerto and Virtuoso line of cardiac devices.
(NCBC) New Century Bancorp filed to sell 1M share of common stock.
(NCOG) NCO Group formed a special committee and retained advisors for the CEO’s $27.50 per share going private offer.
(NTES) Netease.com $0.26 EPS vs $0.23e; stock up 3% pre-market.
(NVL) Novelis $0.14 EPS vs $0.16e.
(NXTM) NxStage Medical filed to sell 6M shares of common stock.
(PFG) Principal Financial approved up to $500M in share buybacks.
(PLAB) Photronics $0.30 EPS vs $0.21e; R$119.5M vs $115.7M(e).
(PNSN) Penson 7.7+M share IPO priced at $17.00.
(REDE) Red Envelope hired WRHambrecht as financial advisor after posting wider than expected losses.
(REST) Restore Medical 4M share IPO priced at $8.00.
(RICK) Rick’s Cabaret raised net income guidance.
(RIGL) Rigel’s R343 compound selected by Pfizer; will get $5M milestone payment.
(RLH) Red Lion Hotels 5.6M share secondary priced at $11.00.
(RTLX) Retailix $0.18/R$50.7M vs $0.20/$48.35M(e).
(SPWR) SunPower filed to sell 7M shares of common stock.
(SVC) Stewart & Stevenson received contract modifications w/ $625M total value.
(THC) Tenet Healthcare announced $21M civil settlement in San Diego hospital case.
(TNM) Thomas Nelson $0.42 EPS vs $0.48e.
(TOO) Too Inc. $0.35 EPS vs $0.30e.
(TRB) Tribune revenues in April fell another 3%.
(UAG) United Auto Group filed to sell $375M in debt.
(VSAT) Viasat $0.28 EPS as expected.
(XMSR) XM sued by recording industry over handheld devices.
(YHOO) Yahoo is seeking to narrow the gap in its search and Google’s according to Financial Times.
(ZLC) Zale’s $0.24 EPS vs $0.21e.
(ZMH) Zimmer noted positively in Barron’s online.
(ZUMZ) Zumiez announced it will acquire action sport retailer Fast Forward.

Some of this may not even be the company's fault depending on how you read into it, and when you see blow-ups like this it leaves little doubt as to why so many investors avoid development-stage biotech companies.

Here are the guts of the press release:

The largest IPO and the one the street has its eye on is of course Burger King Holdings that will trade under the ticker BKC. It is presumable that if you haven't been locked up for thirty years and that if you are reading this that you already know they are one of the top fast food and burger interests in the US and abroad. The underwriting group is lead by J.P.Morgan and the co-manager group is quite large: Citigroup, Goldman Sachs, Morgan Stanley, Wachovia, Bear Stearns, CSFB, Lehman, and Loop Capital Markets.

S&P FAIR VALUE +$1.04.

(ACR) American Retirement Corp gets $33 buyout from BKD-Brookdale.
(ALXN) Alexion said its antibody was effective in blocking inflammation in the lungs.
(ANDE) Anderson’s announced a 2 for 1 stock split.
(AVGN) Avigen sold 3.9M shares in private placement at $5.37.
(BA) Boeing is paying the DOJ $615M to avoid criminal charges in contract scandal settlement.
(BEE) Strategic Hotels & Resorts will sell 14M shares.
(BIVN) Bioenvision -$0.15 EPS vs -$0.15e.
(CA) Computer Associates CFO Bob Davis is leaving the company under a mutual agreement; its Controller Robert Cirabisi will assume the role during an external search.
(CAI) CACI Int’l noted as potential takeover candidate of BAE Systems in UK.
(BRKS) Brooks Automation gets informal inquiry from the SEC over option grants.
(CATG) Cambridge Antibody noted as potential takeover candidate of AstraZeneca according to the Observer in the UK.
(CRI) Carter’s announced a 2 for 1 stock split.
(DCI)Donaldson gets supply pact from DaimlerChrysler.
(EXTR) Extreme Networks CEO will retire this year.
(GBX) Greenbriar will pay $2.9M and take a charge over an IRS tax settlement.
(HLSH) Healthsouth will pay $25M to settle shareholder suit.
(HYGS) Hydrogenics announced 5-year supply pact with Linde AG’g gas division.
(INO) Inovio Biomed filed for $74M mixed securities shelf offering.
(IOMG) I/O Magic gets $2.38M from Office Max in litigation settlement.
(JOYG) Joy Global CFO is retiring.
(KNTA) Kintera -$0.26 EPS vs -$0.26e.
(LEAP) Leap Wireless will sell 5.6M shares.
(MODT) Modtech -$0.23 EPS vs $0.03e (-$0.01 est elsewhere) after option charges; guides R$ in 2006 at $230M to $250M..
(MSFT) Microsoft is looking for “the next big thing” according to Financial Times.
(NVAX) Novavax -$0.11 EPS vs -$0.14e; non-revenue stage.
(NWS) News Corp’s Myspace.com is becoming a new portal with downloads and ads according to WSJ.
(ODP) Office Depot announced new 4500M share buyback plan.
(OTEX) Open Text announced a 2.4M share buyback plan.
(PETS) Petmed Express $0.13 EPS vs $0.13e.
(Q) Qwest is paying $107M to acquire OnFiber Communications.
(RADA) Radica Games -$0.05 EPS vs $0.00e, but R$18.5M vs $14.9M(e).
(RMX) Ready-Mix $0.19 EPS vs $0.12e.
(RNAI) Sirna Therapeutics filed to sell 10M shares, 8M of which are from the company.
(RVSN) Radvision gets supply pact from Atmel.
(SCSS) Select Comfort announced 3 for 2 stock split and 4150M share buyback plan.
(SVC) Stewart & Stevenson gets higher 436.50 revised offer from AH-Armor Holdings.
(VOD) Vodafone may be interested in selling its Verizon Wireless stake according to the Observer in the UK.

McCaw, who is chairman and co-chief executive, founded Clearwire in October 2003, and the company entered its first market in August 2004. As of March 31, Clearwire offered services in 27 markets in the US, as well as Brussels and Dublin in the EU. The company reported a 2005 net loss of $139.95 million on $33.45 million in Revenues.

News Corp reported earnings of $820M, operating income of $1.0 Billion, net revenues of $6.19+ Billion, and it applied an EPS number of $0.26 on a diluted combined basis. The company also hiked its current share buyback plan from $3 Billion to $6 Billion to be completed in the coming 2-years "as the market undervalues the company" according to Murdoch on the conference call (see full transcript). It had already made $2.5 Billion in share buybacks of the current $3 Billion buyback plan. The company also said it was comfortable with its guidance for the year that was offered in February.

It is probably not surprising that print operating income fell 9%, but we finally got to interpolate some company-released figures on Myspace.com. The company said it has over 70 Million registered users, and in the conference call said it was nearing 80 Million users. Of the $6.19+ Billion in revenues for the quarter, it said "other" operations (which would include New Media Initiatives) were $359M in revenues and a loss in "other" operations of $49M.

S&P FAIR VALUE +$0.14.

(ADL) AMDL registered to sell 10.5M shares for selling holders.
(AHGP) Alliance Holdings IPO priced 12.5M shares at $25.00, at the high-end of the range.
(ATAR) Atari raised $13M by selling non-core gaming names.
(AWR) American States Water $0.35 EPS vs $0.25e; unsure if comparable.
(BECN) Beacon Roofing $0.16 EPS vs $0..10e.
(BIDU) Baidu.com shares up almost 30% pre-market on blow-out quarter and guidance.
(BOFL) Bancshares of Florida 2.5M share secondary priced at $21.50.
(BOOM) Dynamic Materials priced its 5.15M share secondary at $35.00; versus $35.77 close.
(CEGE) Cell Genesys gets FDA Fast Track status for GVAX Immunotherapy.
(CRL) Charles River Labs $0.50 EPS vs $0.56e.
(CRYP) Cryptologic gets 3-year gaming site feature pact with Playboy.
(CSCO) Cisco Systems $0.29 EPS vs $0.26e; R$7.3B vs $7.16B(e); general guidance deemed tepid by many as revenues were not raised above guidance; stock down almost 1% pre-market.
(CTEC) Cholestec $0.14 EPS vs $0.11e.
(DIS) Disney $0.37 EPS vs $0.31e; R$8.0269B vs $8.18B(e).
(FWLT) Foster Wheeler $0.23/R$645.8M vs $0.38/$680M(e); stock Down 4% pre-market.
(HAWK) Petrohawk Energy $0.39 EPS vs $0.21e.
(HGSI) Human Genome Science -$0.47 EPS vs -$0.49e.
(HW) HW announced a hydrogen peroxide acquisition to expand capacity.
(IFX) Infineon’s board has approved an IPO of its memory unit as expected.
(IMAX) Imax signed a theatre agreement in Louisiana.
(LEAP) Leap Wireless $0.29 vs $0.06 (unsure if gains) and R$266.7M vs $246M(e); will raise $250M to bid on wireless licenses; share rose 4% after-hours.
(MIR) Mirant $0.46 EPS vs $0.23e; stock up almost 5%.
(MFLX) Multi-Fineline $0.49 EPS vs $0.51e; guidance soft.
(MSFT) Microsoft unveils its “Office of the Future” in Washington today.
(NICE) Nice Systems $0.42 EPS vs $0.40e.
(NOVC) Novacea IPO priced 6.25M shares at $6.50, under the original $7.00 to $8.00 range.
(NWS) News Corp reportedly in talks to acquire a Turkish media company “TGRT.”
(OSTK) Overstock.com down 12% on an SEC subpoena.
(PVH) Phillips Van-Heusen 10.1M share secondary priced at $38.00.
(PXG) Phoenix Footwear CEO is leaving for entrepreneurial interests.
(RMIX) US Concrete -$0.08 EPS vs -$0.06e; sees next Q $0.18-0.23 vs $0.24e.
(RMK) ARAMARK $0.32 EPS vs $0.29e.
(RRI) Reliant -$0.46 EPS vs -$0.34e, but R$2.45B vs $2.2B(e).
(SFCC) SFBC stock down 24% pre-market on weaker than expected results.
(SNDK) SanDisk noted as alternative MP3 player product for those that don’t want an Apple iPod in Business Week online.
(SYMC) Symantec $0.26/R$1.3B vs $0.25/$1.27B(e); guides Q1 0.20-0.21/R$1.2-1.25B vs $0.24/$1.25B(e); sees FY EPS $1.05-1.15 vs 1.11-1.12e and R$5.3-5.5B vs $5.35B(e).
(TASR) Taser announced another lawsuit against the company was dismissed;
(TEVA) Teva $0.37/R$1.67B vs $0.41/$1.88B(e).
(TM’) Toyota stock up 5% after earnings.
(TWX) Time Warner featuring an investor day conference.
(TXN) Texas Instruments has an analyst day today.
(TZOO) Travelzoo up 4% after showing over 100 advertisers.
(UARM) Under Armor registers 6.815M Shares for selling holders.
(UNH) United Healthcare up 0.6% pre-market as Citigroup said the stock could double over the next couple of years.
(VZ) Verizon considering selling some of its landline business according to WSJ.
(WEDC) White Electronic Design $0.07 EPS vs $0.06e.
(WFMI) Whole Foods supposedly running “values and deals” ads over next 10 days according to New York Times.
(WSSI) Webside Story $0.12 EPS vs $0.11e.

Analysts expect earnings per share and revenues as follows: EPS $0.26 & R$7.21B

Earlier in the quarter the company forecast a multi-year revenue growth target of 10% to 15%; we now we should get to see just how all of the integrations in data transfer, hardware, Wi-Max, and security are all going to add to the top and bottom line.

S&P FAIR VALUE +$1.96.

(AAPL) Apple is reportedly selling Fox's TV shows on its iTunes site.
(ABMD) Abiocor -$0.14 EPS vs -$0.14e.
(ACL) Alcon company receives U.S. FDA approval for LADAR6000 excimer laser.
(AHC) Amerada Hess is selling 65 producing onshore wells in Gulf of Mexico coastal area.
(AIRM) Air Methods $0.21 EPS vs $0.17e.
(ANPI) Angiotech formed collaboration pact with Genzyme targeting tumors. Earnings were $0.19 EPS before items vs $0.16e; R$41.9M vs $49.65M(e).
(ANSW) Answers Corp -$0.10/R$1.15M vs -$0.14/$1.05M(e).
(AQNT) Aquantive $0.10/R$92.2M vs $0.06/$84.75M(e); guides higher; stock rose 7%.
(AT) Alltel has signed a 10-year roaming pact with Sprint-NexTel according to the WSJ.
(ATVI) Activision is acquiring game studio RedOctane.
(AUDC) Audiocodes $0.10 EPS vs $0.09e.
(AVNX) Avanex -$0.06/R$40.3M vs -$0.04/$39.9M(e).
(BID) Sotheby's -$0.07 EPS vs -$0.06e.
(CCRT) Compucredit $1.09 EPS vs $0.92e.
(CHD) Church & Dwight $0.60 EPS vs $0.53e.
(CMG) Chipotle $0.26 EPS vs $0.12e; unsure if comparable; filed to sell 4.19M shares of stock.
(COH) Coach announced $500M share buyback plan.
(CPE) Callon Petroleum $0.60 EPS vs $0.49e.
(CSV) Carriage Systems $0.13 EPS vs $0.13e.
(DELL) Dell fell 6% after-hours on guidance that was to the lower-end on revenues and under on EPS on price cuts; sees R$14.2 instead of $14.5B(e) and EPS $0.33 vs $0.38e.
(DIGE) Digene $0.13 EPS vs $0.11e.
(DTSI) DTS inc $0.38 EPS vs $0.32e.
(DYN) Dynegy -$0.01 EPS vs -$0.12e; but widened out loss projections for the year from prior range.
(EAGL) EGL $0.27 EPS vs $0.17e.
(ELOS) Syneron $0.37 EPS vs $0.42e.
(ENTG) Entegris $0.13 EPS vs $0.11e.
(FLR) Fluor $1.00 EPS vs $0.66e; R$3.6B vs $3.35B(e); raised 2006 EPS from $2.80-3.10 up to $2.90-3.20.
(FNM) Fannie Mae delayed quarterly filing.
(FTEK) Fuel Tech $0.06/R$17.1M vs $0.08/$14M(e); EPS had charge in number.
(FTI) FMC Tech $0.47 EPS vs $0.45e.
(GAP) Great Atlantic & Pacific Tea -$0.95 EPS after charges vs -$0.41e.
(GEMS) Glenayre -$0.10 EPS vs -$0.03e; notified by Sprint-NexTel that they are no longer being offered as voicemail service provider.
(GIII) G-III Aparrel filed to sell 4M shares of common stock.
(GKIS) Gold Kist -$0.32 EPS vs -$0.35e.
(GIVN) Given Imaging -$0.11/R$20.3M vs -$0.11/$20.2M(e).
(GNTA) Genta's NDA accepted by the FDA for Genasense plus chemotherapy in relapsed and refractory CLL.
(HANS) Hansen Natural up 18% pre-market after higher earnings.
(HB) Hillenbrand $0.89 EPS vs $0.84e.
(HELE) Helen of Troy $0.30 EPS & R$134.5M vs $0.16/$126.75M(e); EPS was $0.21 with items.
(HSP) Hospira $0.62 EPS vs $0.48e.
(IDTI) Integrated Device Tech $0.15/R$167.5M vs $0.15/$165.2M(e).
(IFO) Infosonics $0.22 EPS vs $0.09e; stock up 9%.
(IT) Gartner registered 9.5M shares for selling shareholder.
(KG) King Pharma $0.44 EPS vs $0.37e.
(KMGB) KMG Chemicals filed to sell 3M shares of common stock.
(KOSP) Kos Pharma -$0.06/R$170.8M vs $0.03/$173.7M(e); announced up to 7M share buyback plan.
(KND) Kindred Healthcare sees revenues $46M lower on Medicare or Medicaid reimbursements.
(L) Liberty Media $0.02/R$1.98B vs $0.02/$2.00B(e).
(LAZ) Lazard $0.51 EPS vs $0.47e.
(MCD) McDonalds reported 4.1% s-s-s growth in US for April; up 6.5% worldwide.
(MIDD) Middleby $0.97 EPS vs $0.90e.
(MIVA) Miva -$0.03 EPS vs -$0.09e; guidance looks light; unsure if comparable.
(MRK) Merck is acquiring private GlycoFi for $400M cash.
(MRX) Medicis Pharma received FDA approval for its New Drug Application of SOLODYN for
acne therapy
(NYM) Nymagic $0.85 EPS vs $0.65e.
(OMG) OM Group $0.62 EPS vs $0.62e.
(OPMR) Optimal Robotics $0.27 EPS vs $0.25e.
(OSIP) OSI Pharma -$0.31/R$116.4M vs -$0.12/$122.3M(e).
(PKS) Six Flags -$0.94 EPS vs -$1.20e.
(QGEN) Qiagen $0.13 EPS vs $0.12e.
(RBAK) Redback Networks filed to sell 11.3M shares of common stock.
(RNT) Aaron rents filed to sell 4M shares of common stock.
(RSAS) RSA Security filed to sell 1.99M shares of common stock for holders.
(SBAC) SBA Communications -$0.11/R$68.8M vs -$0.12/$67.25M(e); guides revenues higher.
(SLE) Sara Lee sells its Courtald's business unit.
(SRVY) Greenfield Online $0.03 EPS vs $0.00e.
(SWSI) Superior Wells $0.33 EPS vs $0.24e.
(SYGR) Synagro registered to sell 17.1M shares of common stock, only 2M are for the company.
(SYKE) Sykes Enterprises $0.15/R$131.1M EPS vs $0.10e/$127.9M(e).
(TGEN) Targeted Genetics authorized a 1-10 reverse split.
(THC) Tenet Healthcare $0.03/R$2.41B vs -$0.02/R$2.46B(e).
(TOA) Technical Olympic $0.89 EPS vs $0.82e.
(TRAK) Dealer Track $0.18 EPS vs $0.15e.
(TRFC) Traffic.com -$0.49/R$10.8M vs -$0.54/$10.78M(e).
(TWPG) Thomas Weisel filed to sell 4.5M shares of stock.
(USIH) USI Holdings $0.30 EPS vs $0.32e.
(V&TWX) Vivendi is reportedly creating a big budget fantasy/action film with Time's Warner Brothers unit based upon Vivendi's Blizzard unit hit game "World of Warcraft."
(VAS) Viasys $0.23 EPS vs $0.22e.
(VCLK) Valueclick $0.09/R$117M vs $0.11/$112M(e)revenue guidance looks in-line but EPS looks light.
(VTIV) Ventiv $0.34 EPS vs $0.30e.
(WGII) Washington Group $0.62 EPS vs $0.51e.
(WR) Westar Energy $0.30 EPS vs $0.25e.
(WWCA) WCA Waste $0.04 EPS vs $0.04e.
(ZIPR) Zip Realty -$0.04/R$19.2M vs -$0.16/$17.25M(e); guidance looks light.

Greenhill & Co (GHL) is expected to raise over $225M after its filing last week to sell 4.025 million shares, although these shares are being sold entirely by current and former directors and GHL will get none of the proceeds. This stock is also up over 100% in the last year after a strong IPO since it is active in the M&A markets, and the company has actually recovered quite well off of its lows after having been down over 10%.

S&P FAIR VALUE +$1.36.

(AAPL) Apple has reportedly had an overseas ruling in its favor over the Beatles.
(ALY) Allis Chalmers filed to sell 4.7M shares of common stock.
(BRK/a) Berkshire Hathaway $1,501 vs $1,085 estimate; unsure if comparable on so many units; will pay $4B for an 80% stake in Iscar Metalworking and noted that it was interested in making acquisitions in Japan and elsewhere.
(DCGN) deCODE genetics discovered a marker for prostate cancer.
(EMMS) Emmis has a $15.25 CEO-management led buyout offer to buy the other 80+% of the company he doesn't own.
(FRZ) Reddy Ice filed to sell 4.59M shares.
(FSH) Fisher Scientific gets a 2 share to 1 stock buyout from Thermo Electron (TMO); although FSH is larger.
(GDW) Golden West Financial is merging with Wachovia in a $25B merger agreement, or $81.07 per share.
(HIV) Calbio named a new CEO.
(HNT) HealthNet $0.65 EPS vs $0.62e.
(INTC) Intel is rebranding to Core Duo name after Pentium, although this is pretty much already known.
(LPMA) Lipman Electronics $0.27 EPS vs $0.23e.
(MGRM) Monogram Bio in HIV pact with Pfizer; -$0.03/R$13.2M vs -0.03/$13.8M(e); stock up 18% pre-market.
(MHS) Medco will settle fraud allegations with the Justice Department according to the WSJ.
(MYOG) Myogen -$0.42 EPS vs -$0.36e.
(N) Inco Ltd. will get a merger proposal in Canada from tech Cominco for C$17.8B.
(NTLI) NTL is repoortedly cutting 6,000 jobs.
(PGIC) Progressive Gaming won approval for its live betting technology in Nevada.
(PLAB) Photronics announced a joint-venture with Micron (MU).
(RTN) Raytheon filed a $2B mixed securities shelf.
(SKYE) SkyePharma and Kos Pharmaceuticals-KOSP sign license agreement for US marketing and distribution of SkyePharma's Flutiform.
(TWX) Time Warner hired Citigroup to explore its AOL Europe options according to the WSJ.
(WPSC) Wheeling-Pittsburgh Corporation and Companhia Siderurgica Nacional announced a pact for North America.
(YHOO) Yahoo is reportedly altering its advertising system after losing Microsoft.
(ZLC) Zale's placed its CFO on administrative leave.

LLY's sales on Evista for osteoporosis were $1.03B in 2005, but that is a worldwide number and it is approved in many countries. The annual report shows US sales were $652.9M and foreign sales were $383.2M.

Delek will trade under "DK" on the NYSE and its 10M share IPO priced at $16.00, at the high-end of the $14.00 to $16.00 range. For some reason it hadn't gotten much attention up through last week (odd considering it has a refinery of its own), although this shaped up this week. The company had 2005 revenues of $2.03 Billion and posted net income of $65M. Lehman and Citigroup lead the offering with CSFB, Morgan Keegan, William Blair, HSBC, and the Israel Discount Bank of NY were co-managers. Delek U.S. Holdings is being spun off by parent Delek Group, the Israeli oil conglomerate controlled by real estate mogul Yitzhak Tshuva.