Company News for March 12, 2009

• Freddie Mac (NYSE:FRE - Analyst Report) reported a fourth quarter loss of $23.9 billion or $7.37 per share.  The firm said it seeks an additional $31 billion in rescue funds from the Treasury

• Men's Wearhouse (NYSE:MW - Snapshot Report) reported a fourth quarter loss of 6 cents per share, better than estimates of a 16 cent loss, on revenues of $476.3 million, up 2.2% from a year ago. The company projects first half results of 45-65 cents fully diluted with comparable sales down 6-10%

• National Semiconductor (NYSE:NSM - Analyst Report) announced plans to cut 26% of its workforce, or about 1,700 jobs, after reporting a 71% drop in fiscal third quarter results to 9 cents from 29 cents, as revenues fell 36% to $292.4 million

• After eight months of negotiations, Roche sufficiently sweetened its deal to entice Genentech (NYSE:DNA) approval of a $95 per share offer for the 44% that it does not currently own

• Biogen (NASDAQ:BIIB - Analyst Report) said its cancer drug Rituxan, co-marketed with Genentech (NYSE:DNA), failed to show that the drug is an effective treatment for lupus nephritis, a type of kidney disease

• Apple (NASDAQ:AAPL - Analyst Report) announced the launch of a $79 talking iPod Shuffle music player

• Steel Dynamics (NASDAQ:STLD - Snapshot Report) lowered its forecast, now anticipating a 40 cent per share loss in the first quarter, off earlier projections of profits up to 10 cents per share

• Smithfield Foods (NYSE:SFD - Snapshot Report) reported fiscal third quarter results beating estimates by 12 cents, with a 15 cent loss versus a 44 cents profit a year ago on revenues of $3.3 billion