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Analog Devices cuts 4th quarter revenue forecast

Integrated circuits maker Analog Devices Inc. of Norwood cut its fiscal fourth-quarter revenue forecast, blaming the revision on weak demand from makers of cellphone handsets . ADI said it now expects revenue of between $640 million and $645 million in the quarter ending Saturday , down from an August projection that put revenue roughly equal to the third quarter's $663.7 million. (AP)

MS drug Tysabri found effective against Crohn's
Elan Corp. said its Tysabri treatment for multiple sclerosis was effective in treating Crohn's disease. About 86 percent of patients receiving Tysabri over two years maintained remission in Crohn's disease, Elan said. Short-term side effects, including nausea, abdominal pain, and headache, were similar in patients on Tysabri and those on a placebo. A spokeswoman said no new cases of a rare and fatal side effect, progressive multifocal leukoencephalopathy, were found. The drug has been linked to three cases of the disease. (Bloomberg)

Sears opens 6 more local Lands' End stores in malls
Lands' End, an apparel brand known for its catalogs, said it has opened shops in six more local Sears stores. Sears Roebuck and Co. acquired Lands' End in 2002 and has rolled out Lands' End shops in nearly 100 Sears stores. The new Lands' End stores are in the Burlington Mall, Natick Mall, Dedham Mall, Northshore Mall in Peabody, South Shore Plaza in Braintree, and Square One Mall in Saugus. (Chris Reidy)

Gatehouse Media sells 13.8m shares for $248.4m
GateHouse Media Inc. raised $248.4 million in an initial public offering to pay lenders including Fortress Investment Group Inc., which bought the publisher of community newspapers less than two years ago. GateHouse sold 13.8 million shares at $18 each, according to a person with knowledge of the pricing. The company had planned to sell 11.5 million shares for $16 to $18 each, based on an Oct. 20 Securities and Exchange Commission filing. The IPO values Fairport, N.Y.-based GateHouse at $621 million. (Bloomberg)

Abbott self-absorbing stent shows no major side effects
Abbott Laboratories said its experimental self-absorbing heart stent didn't cause blood clots or major side effects in an initial study. None of the 30 patients who received the stent to prop open clogged blood vessels in the trial, called Absorb, had a heart attack or clotting, or required repeat treatment in the first 30 days after the procedure, Abbott said. (Bloomberg)

US sues Lay's estate, seeking $12.7 million
The US government sued the estate of Enron Corp.'s deceased founder Kenneth Lay, seeking to strip it of $12.7 million in ill-gotten gains from an accounting fraud that investors claim cost them $30 billion. Prosecutors linked the suit, filed Monday in federal court in Houston, to the Oct. 17 voiding of Lay's conviction on 10 counts of conspiracy, securities fraud, and bank fraud. A federal judge tossed out the May verdict on grounds that Lay hadn't had a chance to appeal it before he died of heart disease in July. The ruling blocked the government's effort to seize the estate's assets in the criminal case. (Bloomberg)

Coach drops trademark case against Target
Coach Inc., the largest US luxury leather goods maker, dropped a trademark infringement suit alleging Target Corp. sold counterfeit versions of one of its handbags. Coach abandoned the suit because Target stopped selling the bags, Coach chief executive Lew Frankfort said. Target said the suit was dismissed "at Coach's request." (Bloomberg)

Study to seek genetic causes of women's diseases
Amgen Inc. is joining government and academic researchers in one of the biggest studies focusing on the genetic causes of women's diseases. The research will draw upon a DNA database of 28,000 participants in the Women's Health Study, a US government-supported initiative started more than a decade ago to evaluate the major causes of death and disability in women, an Amgen spokeswoman said. Amgen, along with the National Institutes of Health and Brigham and Women's Hospital in Boston, will use samples from the study participants to figure out what makes some women more vulnerable to certain diseases such as cancer or osteoporosis. (Bloomberg)

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