A federal judge has rejected claims by fired HealthSouth Corp. chief executive Richard Scrushy and upheld a new corporate fraud law aimed at top executives after a series of accounting scandals. In the first court test of the Sarbanes-Oxley Act, U.S. District Judge Karon Bowdre disagreed with Scrushy’s argument that the act is unconstitutionally vague and should not be part of his indictment alleging massive fraud.
Increasing sales boost ICOS stock
Shares of Bothell-based ICOS Corp. rose Monday after weekly prescription data showed the company’s Cialis continues to erode Viagra’s dominance. Cialis accounted for 19 percent of the prescriptions for impotence drugs during the week ending Nov. 19, according to IMS Health. In just new prescriptions, Cialis accounted for nearly 22 percent, compared to 65 percent for Viagra and approximately 13 percent for Levitra. ICOS’ stock ended Monday’s trading at $24.12, up 90 cents, or 4 percent.
SonoSite software enhances imager
SonoSite Inc. of Bothell said new software for the portable ultrasound maker’s Titan system allows it to offer enhanced images. The new software is the fourth major upgrade for the Titan system since it was first introduced 18 months ago, said Kevin Goodwin, SonoSite’s president. SonoSite’s share price increased 3 percent Monday to $30.54.
Tax savings topic on KSER radio show
“Getting Your Dough to Rise”, the monthly personal finance show airing at 4:30 p.m. today on KSER (90.7 FM), Snohomish County’s public radio station, will provide tips on saving money on tax and energy bills. Guests are Bill Reith, a certified public accountant at Hascal Sjoholm, and Eldon Samp, Snohomish County PUD energy conservation consultant. The show will take calls during those segments at 425-712-8378. Also, “Technology Investing” newsletter editor Michael Murphy will discuss technology and biotechnology.
T-bill rates rise in Monday auction
The Treasury Department sold three-month bills at a discount rate of 2.195 percent, up from 2.155 percent last week. Six-month bills sold at a rate of 2.395 percent, up from 2.365 percent. The new discount rates understate the return – 2.238 percent for three-month bills with a $10,000 bill selling for $9,944.52 and 2.458 percent for a six-month bill selling for $9,878.92. The average yield for one-year constant maturity Treasury bills, a popular index for changing adjustable rate mortgages, rose to 2.6 percent last week from 2.53 percent.
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