Early Briefing: Another Stadium For Prince George's?

*As the Nationals' stadium prepares to open, Maryland has decided to spend $75,000 on a feasibility study to look at the economic impact and potential tax benefits of building a home for D.C. United in Prince George's County. See story

*CoGenesys of Rockville, which was spun off from Human Genome Sciences in June 2006, plans to be bought by Teva Pharmaceuticals of Israel, the largest generic-drug maker in the world. See story

*Investor Mark Wattles bought a 6.5 percent stake in Circuit City Stores and has held talks with the management of the Richmond-based electronics retailer.

Wattles said in a filing with the Securities and Exchange Commission that he may communicate with shareholders about the composition of Circuit City's board and management team or solicit proxy votes from investors. His stake of 11 million shares makes him the company's third-largest shareholder, according to data compiled by Bloomberg.

*Norfolk Southern, the fourth-largest U.S. railroad, boosted its quarterly dividend by 12 percent, to 29 cents a share. The new dividend is payable on March 10 to shareholders of record as of Feb. 1, the Norfolk company said. See press release.

*Shares of Under Armour rose 11.7 percent, to $31.29, after two analysts said that it is positioned for growth but that results hinge on consumer reaction to its new cross-training footwear. The Baltimore company said it expected earnings to miss expectations in the first half of the year because of heavy marketing of the footwear.

*Nabi Biopharmaceuticals of Rockville named Raafat E.F. Fahim chief executive and president, and it hired Banc of America Securities to advise it on a possible sale or merger.

*Sprint Nextel's credit rating was cut one level, from BBB to BBB-, by Standard & Poor's. "Sprint Nextel will need to demonstrate its ability to show some improvement in operations and stem the rate of subscriber loss," S&P said about the Reston company.

By Terri Rupar  |  January 23, 2008; 5:00 AM ET  | Category:  Morning Brief
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