Monday, November 22, 2010

Daily Business Update from the Boston Globe

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Monday, November 22, 2010

Report: Feds search Boston hedge fund office
Federal law enforcement agents executed a search warrant at the offices of Boston-based Loch Capital Management, Bloomberg News is reporting.

Suffolk unit tapped for Portland project
Berry, a division of Suffolk Construction, has been named construction manager for the second phase of Maine Medical Center�s strategic master facility plan, Boston-based Suffolk Construction said.

Roche CEO to address BC's executive club
Severin Schwan, chief executive of Swiss pharmaceutical giant Roche, is scheduled to be the keynote speaker at an event at the Boston College's Chief Executives� Club of Boston.

Genzyme weighs alternate ways to value company
Top executives at Genzyme Corp. are weighing a plan that would give shareholders more money if its new drug to treat multiple sclerosis proves highly successful after the company is acquired.

Eaton Vance buys Managed ETFs assets
Eaton Vance Corp., a Boston-based investment management firm, said that it has purchased the assets of Managed ETFs LLC , a developer of intellectual property in the field of exchange-traded funds, or ETFs.

Local gas prices rise another 4 cents
The average price for gas in Massachusetts is $2.929 a gallon in the latest weekly AAA survey, up 4 cents from the previous week, AAA Southern New England said today.

First Marblehead to buy TMS
First Marblehead Corp., a Boston company that specializes in providing student loan services to financial institutions, has agreed to pay $47.25 million to acquire Tuition Management Systems, a provider of outsourced tuition planning and billing services.

Attachmate to buy Novell in $2.2b deal
Novell Inc., a Waltham company specializing in workload management, said it has agreed to be acquired by Attachmate Corp, which would buy Novell for $6.10 per share in cash in a transaction valued at approximately $2.2 billion.

Stem cell drug gets an FDA clearance
Advanced Cell Technology Inc. said it has received Food and Drug Administration clearance for the first clinical trial using embryonic stem cells to treat macular degeneration.

Papa Gino's supports Patriots charitable foundation
Papa Gino�s, the Dedham-based parent company of the Papa Gino�s and D�Angelo Grilled Sandwiches restaurant chains, said it has presented a check for $54,622 to the New England Patriots Charitable Foundation.

Stealth introduces drug candidate at a symposium
Stealth Peptides Inc. said it has introduced its lead clinical candidate, Bendavia, to a symposium at the 2010 American Heart Association's Scientific Sessions.

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