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Emmis Communications lost $1.36 a share in Q1, dragged down by a $1.48 loss on debt elimination. Ex items it earned 12 cents, 5 cents over views. Revenue at the radio station owner rose 14% to $161 mil. Shares rose 8% to 20.98.
Weyerhaeuser sold 304,000 acres of Georgia timberlands to 4 firms for about $404 mil; proceeds from the sale will be used to reduce debt. Credit Suisse First Boston raised the forest products company's rating from "underperform" to "neutral." Shares rose 3.5% to 63.12.
Raytheon won a 5-year, $70.2 mil contract with the Navy. If options are exercised, the ...