Vertex Pharmaceuticals and Merck & Co. announced an update to their collaborative Aurora kinase research and development program, which is targeting the treatment of cancer. Merck has suspended enrollment in clinical trials of the lead investigational Aurora kinase inhibitor in the collaboration, MK-0457 (VX-680), pending a full analysis of all efficacy and safety data for MK-0457. The decision was based on preliminary safety data, in which a clinical safety finding of QTc prolongation was observed in one patient. Merck and Vertex have a broad research and development program underway to evaluate Aurora kinase inhibitors as novel approaches to targeted cancer treatment. As part of Merck’s strategy to develop multiple drug candidates in different tumor types and treatment combinations, Merck plans to initiate in early 2008 a Phase 1 trial of VX-689 in patients with advanced and/or refractory solid tumors.

Vertex Pharmaceuticals and Merck & Co. announced an update to their collaborative Aurora kinase research and development program, which is targeting the treatment of cancer. Merck has suspended enrollment in clinical trials of the lead investigational Aurora kinase inhibitor in the collaboration, MK-0457 (VX-680), pending a full analysis of all efficacy and safety data for MK-0457. The decision was based on preliminary safety data, in which a clinical safety finding of QTc prolongation was observed in one patient. Merck and Vertex have a broad research and development program underway to evaluate Aurora kinase inhibitors as novel approaches to targeted cancer treatment. As part of Merck’s strategy to develop multiple drug candidates in different tumor types and treatment combinations, Merck plans to initiate in early 2008 a Phase 1 trial of VX-689 in patients with advanced and/or refractory solid tumors.

After the close, IKON Office Solutions announced that its Board of Directors has approved the repurchase of $500 million of its common stock. IKON intends to repurchase up to $295 million of its common stock through a modified “Dutch Auction” self-tender offer at a price of not less than $13 per share or more than $15 per share. IKON plans to repurchase the difference between $500 million and the amount repurchased through the tender offer during the balance of fiscal 2008.

Patterson Companies, reports Q2 EPS of $0.39, 1 cent worse than estimates. Revenues were $742 million vs. $761.00 million consensus. James W. Wiltz, president and chief executive officer, commented, "We are cautious about the near-term outlook of our equipment business, since it appears that certain economic and industry conditions may be causing some customers to temporarily delay new capital investments in their practices. Given this uncertainty, we are forecasting earnings of $0.44 to $0.46 per diluted share for the third quarter of fiscal 2008 ending January 26, 2008. We also are reducing our full-year fiscal 2008 guidance to $1.68 to $1.72 per diluted share from the previously-issued guidance of $1.73 to $1.77." (Q3 EPS consensus is $0.49 and FY EPS consensus is $1.75)

Deere & Co. reports Q4 EPS of $1.88, versus the consensus of $1.55. Revenues came in at $5.42 billion, versus the consensus of $5.8 billion. Deere equipment sales are projected to increase by about 12 percent for the full year and to be up approximately 25 percent for the first quarter of 2008. LESCO operations are expected to account for about 2 percentage points of the sales increase for the year and 3 points in the first quarter. Deere's net income is forecast to be about $2.1 billion for 2008 and about $325 million for the first quarter.

Foot Locker, reported Q3 EPS of $0.21, 3 cents lower than the analyst estimate of $0.24. Revenues for the quarter were $1.36 billion, versus the consensus of $1.38 billion. Foot Locker, Inc., through its subsidiaries, operates as a retailer of athletic footwear and apparel.

Limited Brands reported a Q3 loss of $0.01, 2 cents lower than the analyst estimate of $0.01. Revenues for the quarter were $1.92 billion, versus the consensus of $1.95 billion. Limited cut its Q4 EPS guidance to $0.90 to $1.05, versus the consensus of $1.09. The Company also announced a $250 million stock buyback plan. Limited Brands, Inc. sells women's and men's apparel, lingerie, beauty, and personal care products primarily in the United States and Canada.

Whole Foods Market reported Q3 EPS of $0.24, may not compare to analyst estimate of $0.30. Revenues for the quarter were $1.74 billion, versus the consensus of $1.61 billion. Boosts quarterly dividend to $0.20 a share. Whole Foods Market, Inc. and its subsidiaries engage in the ownership and operation of natural and organic foods supermarkets.