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BRIEFLY

RESEARCH SETTLEMENT OKAYED: U.S. District Judge William Pauley approved the $1.4-billion settlement of lawsuits accusing Citigroup Inc., Merrill Lynch & Co., Goldman Sachs Group Inc., and seven other investment banks of misleading investors with biased stock research. The firms agreed in April to pay the amount to settle civil charges by the Securities and Exchange Commission and some states. The settlement is the biggest in history for violating securities laws. All parties have until Nov. 10 to deposit their individual fines with the Federal Reserve Bank of New York.

TEVA TO BUY SICOR: Teva Pharmaceutical Industries Ltd., the world's biggest maker of generic drugs, agreed to buy Sicor Inc. for about $3.3-billion in cash and stock, adding products that may make Teva a leader in copying biotechnology medicines. The deal values Sicor at $27.35 a share, 32 percent more than on Oct. 21, the day before the Irvine, Calif., company said it was in merger talks with the Israeli company. Sicor sells human growth hormones and a hepatitis C therapy.

WYETH, EX-EXEC SETTLE: Wyeth, the maker of Advil painkillers, settled a whistleblower lawsuit by a former executive whose claims sparked a U.S. Securities and Exchange Commission probe. Peter Rost and Wyeth reached a confidential settlement of his claims that he was forced to quit after telling superiors that managers were helping workers evade taxes in Sweden. "The case has been dismissed to the mutual satisfaction of all parties," said Rost, now a vice president at Pfizer Inc. Lowell Weiner, a spokesman for Wyeth, made the same comment.

Earnings

Championship Auto Racing Teams

CART reported third quarter losses of $34.4-million and said if its proposed sale to the new Open Wheel Racing group falls through, it probably would liquidate its remaining assets and go out of business.

Open Wheel Racing, formed by three CART team owners, offered $7.4-million _ about 56 cents a share _ in August for all the outstanding stock of the financially troubled group, which sanctions the Grand Prix of St. Petersburg, among other auto races.

3rd Qtr Year Ago

Revenue $18.2-mil $18.5-mil

Net Income -$34.4-mil -$8.3-mil

Per Share -$2.34 -56 cents

Shells Seafood Restaurants Inc.

Same-store sales at the Tampa seafood chain fell 6 percent during the quarter ended Sept. 28. New chief executive and president Leslie Christon said it will probably take "considerable time" before efforts to improve the dining experience at Shells is reflected in the company's operating results.

3rd Qtr Year Ago

Revenue $10.1-mil $11-mil

Net Income -$833,000 -$605,000

Per Share -18 cents -14 cents

Liquidmetal Technologies Inc.

The Tampa company posted a loss for the quarter ended Sept. 30. It said it is curtailing its focus on cell phone components made with its patented alloy and will seek partnerships to license and jointly develop new products.

3rd Qtr Year Ago

Revenue $3.5-mil $3.7-mil

Net Income -$6.1-mil -$3.8-mil

Per Share -15 cents -9 cents

Taubman Centers Inc.

The shopping mall developer said Friday it swung to a loss in the third quarter as the cost of fighting off a hostile takeover bid by Simon Property Group Inc. offset growth. Analysts surveyed by Thomson First Call expected the company to earn 39 cents a share.

3rd Qtr Year Ago

Revenue $168.4-mil $166-mil

Net Income -$6.1-mil $5.9-mil

Per Share -21 cents 3 cents

Cigna Corp.

The employee benefits provider said it swung to a profit in the third quarter but membership in its medical plans continued to decline. The earnings beat the $1.17 a share expected by analysts surveyed by Thomson First Call.

3rd Qtr Year Ago

Revenue $4.77-bil $5.08-bil

Net Income $195-mil -$877-mil

Per Share $1.39 -$6.27

ChevronTexaco Corp.

ChevronTexaco capitalized on a summertime spike in oil and gas prices to generate its largest quarterly profit since its merger two years ago. The results topped the estimate of $1.62 by analysts surveyed by Thomson First Call.

3rd Qtr Year Ago

Revenue $31-bil $25.4-bil

Net Income $1.98-bil -$904-mil

Per Share $2.02 -85 cents

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