Veteran analyst retiring

Ralph Acampora, a 40-year Wall Street veteran who helped pioneer the use of price charts to make stock market predictions, will retire from Knight Capital Group Inc. in October. Mr. Acampora, 65, made bullish forecasts during the rally of the 1990s and was the third-ranked technical analyst in Institutional Investor magazine's 2006 survey. Knight Capital hired Mr. Acampora in October 2005 after Prudential Financial Inc. closed the technical research department he headed. Prudential's entire stock research and trading business was shut in June.

Bayer center of speculation

Bayer AG rose 5.5 percent yesterday on the Frankfurt exchange on investor speculation Novartis AG may bid 70 euros ($94) a share for the company. Bayer shares closed at 55.13 euros ($74.25). The Leverkusen-based company, which has U.S. headquarters in Robinson, last year bought German rival Schering AG for 17 billion euros ($22.9 billion). Bayer shares have risen more than 30 percent this year, as the acquisition has boosted earnings at its health-care unit. Spokesmen for Bayer and Novartis declined to comment on the speculation.

Another setback for FedEx

A California appeals court has upheld a 2005 lower court ruling that a group of single-route FedEx Ground drivers should be classified as employees, rather than independent contractors. The California Court of Appeal recommended damages of $11 million for the 200 drivers, up from the $5.3 million that the Los Angeles County Superior Court awarded the drivers in 2005. The Moon-based shipping unit of FedEx Corp. said it was evaluating its legal options, and believes that because of its limited scope, the ruling does not invalidate the company's independent contractor model for its drivers.

Ex-CEO behind bars

Sanjay Kumar, the former CA Inc. chief executive officer convicted last year of leading a $2.2 billion accounting fraud, began serving a 12-year prison term after selling possessions to repay investors. Mr. Kumar, 45, reported yesterday to a minimum security camp at the Federal Correctional Institution in Fairton, N.J. He pleaded guilty in April 2006 to charges of conspiracy, fraud and obstruction of justice. He sold a yacht and two Ferraris under an agreement to pay $50 million in restitution by July 31.

Wizzard Software posts gains

Wizzard Software reported second-quarter gross profit of $402,695 on record revenue of $1.4 million, vs. gross profit of $334,346 on revenue if $782,046 a year ago. Gross profit refers to sales minus costs, including labor, raw materials, manufacturing and marketing. Wizzard, based in Oakland, specializes in speech technology applications and podcasting.

Also in business

Blawnox logistics company Genco said that after a challenge to the initial contract award, its subsidiary has been tapped by the Department of the Army to provide base operations and maintenance support at Fort Lee, Va. The one-year contract with four one-year options is valued at $63.3 million ... Duquesne bedding supplier American Textile Co. recently opened a 5 5,000-square-foot production and shipping facility in Salt lake City and a showroom on the sixth floor of a building on Fifth Avenue in New York City ... American Airlines said it planned to rehire 460 flight attendants who were laid off after the 2001 terror attacks. The flight attendants had worked for TWA, which American parent AMR Corp. bought out of bankruptcy in early 2001.