Callaway Golf Co. gave preliminary estimates for its first quarter, saying that it expected net sales would be approximately $300 million. For the quarter ended March 31, the company also predicted that earnings per share would range from 31 cents to 33 cents. In 2005, Callaway reported net sales of $300 million in the first quarter and earnings per share of 27 cents. Callaway is scheduled to release its actual first quarter financial results April 26.
Faculty chair endowed at UCSD
Philanthropist Pauline Foster, president of Foster Investment Group, has endowed a faculty chair at the Rady School of Management at the University of California San Diego. The Stanley and Pauline Foster Endowed Chair, funded by a $5 million gift, will be held by the dean of the business school. The endowment for the chair enables the dean to fund various programs, including the biennial Stanley Foster Symposium. The symposium, created in honor of Mrs. Foster's late husband, will focus on important topical issues and will be open to the community.
SDSU links with Taiwan campus
San Diego State University's College of Business Administration and Taiwan's Fu Jen Catholic University have formed a partnership to offer a concurrent graduate degree program. Students enrolled in the program will earn a master of business administration from Fu Jen and a master of science in business administration from SDSU. Students take courses at Fu Jen's Taipei campus and attend two residency periods for courses taught at SDSU in San Diego. It is the first time that SDSU's business school has collaborated with a foreign partner for a concurrent graduate degree program.
Cell Bio-Systems has new name
Cell Bio-Systems said that it has changed its name to Tulip BioMed. The San Diego medical device company, whose stock trades over the counter, said it made the name change to introduce its Tulip Disposable Products brand of disposable surgical instruments.
Illumina signs pact with charity
Illumina said it has signed a genotyping services agreement with Cancer Research UK, an independent cancer research charity. Under terms of the agreement, the San Diego biotechnology company will receive $7 million in funding to aid the charity in analyzing genetic data from 4,000 prostate cancer patients and controls.
Invitrogen in collaboration
Invitrogen Corp. said it entered into a collaborative agreement with German-based Signalomics to develop nanotechnology-based cancer diagnostics. Financial terms of the agreement were not disclosed.
SAIC gets Air Force work
The U.S. Air Force has awarded a contract modification valued at $43.3 million to San Diego's SAIC for technical support of the Mission Planning Systems Group at Massachusett's Hanscom Air Force Base. The work is intended to help the group migrate from specialized legacy software to Joint Mission Planning Systems.
Loews plans 3-for-1 stock split
Conglomerate Loews Corp. declared a 3-for-1 stock split, its first split in five years, and raised its common stock dividend by 25 percent. The New York-based company, controlled by the Tisch family and involved in businesses including financial, tobacco, energy, hotel and watchmaking companies, said that early next month shareholders of record as of April 24 will receive two additional Loews shares for each share they own.
Loews shares fell $1.20 to $99.73 on the New York Stock Exchange.
Loews raised its quarterly common stock dividend to 6.25 cents on a post-split basis from 5 cents. The higher dividend is effective on June 1 for shareholders of record as of May 8.
A stock split reduces the share price by increasing the number of shares outstanding. It can make it easier for smaller investors to buy shares.
Reuters
