Like other builders, Red Bank-based Hovnanian has suffered from the housing collapse and reported a $130.9 million loss on $1.1 billion of revenue for the first fiscal quarter. In the year-ago period, the company posted a $54.6 million loss on $1.2 billion of revenue.

The stock offering is expected to close on May 14 and the proceeds will be used for general corporate purposes, according to the company's announcement. Hovnanian's stock opened today at $9.39, down from $9.60 at yesterday's close.

Princeton-based Celator declined to comment on when or why Janoff left the drug-development company.

Jackson joined Celator in October 2007 as head of commercial development. Before moving to Celator he held sales, marketing and commercial development positions at companies including Eli Lilly & Co., ImClone Systems Inc., and Johnson & Johnson subsidiary Centocor, according to Celator.

The bill (A-2657) would counter moves by several health insurance providers to deny coverage for heavy sedation for individuals enduring the invasive and sometimes painful medical procedure.

"Too many people already fail to undergo regular colorectal cancer screenings precisely because colonoscopies are notorious for being extremely uncomfortable and even painful," Burzichelli said. "Telling someone to simply bite the bullet could scare them away from a procedure that could literally save their life."

According to the federal Centers for Disease Control and Prevention, colorectal cancer is the third-leading cause of cancer deaths among Americans, after lung and prostate cancer. Colorectal cancer survival rates are high if the disease is caught early.

Abilify was discovered by Tokyo-based Otsuka, and is marketed in collaboration with Bristol-Myers Squibb, according to BMS, which has a large presence in New Jersey.

The FDA approved the drug in October for the acute treatment of manic and mixed episodes associated with bipolar I disorder and schizophrenia in pediatric patients and adolescents, according to BMS. It can now be used also for the maintenance treatment of patients bipolar I disorder and schizophrenia, the company said.

Abilify's U.S. sales were $348 million in the first quarter of 2008; the FDA approval for its expanded use will "help maximize the clinical use of the product," says Sonia Choi, a spokeswoman for Bristol-Myers Squibb. Company shares were down nearly 4 percent to $21.91 in early trading.

The plans are the most concrete yet by Vikram Pandit, nearing his five-month anniversary as the bank's CEO, to prove himself a capable turnaround specialist at a company that many claim was struggling long before the housing market collapse.

The bank's plans to wind down its $2.2 trillion in assets to approximately $1.7 trillion were part of an investor day presentation at one of Citigroup's Manhattan offices. The Associated Press

On Friday, The Wall Street Journal published a report that suggested closer ties between Venezuelan President Hugo Chavez and rebels attempting to overthrow Colombia's government. Chavez has been linked to Colombian rebels previously, but the paper reported it had reviewed computer files indicating concrete offers by Venezuela's leader to arm guerillas. That appears to heighten the chances that the U.S. could impose sanctions on one of its biggest oil suppliers. The Associated Press

Marine Major Stuart Upton, the spokesman, told reporters Friday: "We hope that this is the beginning of broader support between the United States and Burma to help the Burmese people."

Earlier, Ky Luu, director of the U.S. office of foreign disaster assistance, said that skilled aid workers were being forced to sit on the sidelines as victims of last week's cyclone die. His comments reflect the mounting frustration among the United States and other countries as they wait for permission from the military-led government to begin trying to help. The Associated Press

Obama spokesman Dan Pfeiffer said the Illinois senator plans to receive the endorsement of Rep. Peter DeFazio of Oregon an event Friday in his homestate. Oregon holds it's primary on May 20.

While polling in Oregon has been sparse, Obama is believed to hold a significant advantage over New York Sen. Hillary Rodham Clinton. With DeFazio, he will have the endorsement of three of the state's four Democratic House members. Reps. Earl Blumenauer and David Wu earlier endorsed Obama, while Gov. Ted Kulongoski and Rep. Darlene Hooley have endorsed Clinton.

In New Jersey, Donald Payne — a black congressman who had been backing Clinton for the nomination — is switching his support to Obama, Pfeiffer confirmed.

Clinton won the New Jersey primary on Feb. 5.

"After careful consideration, I have reached the conclusion that Barack Obama can best bring about the change that our country so desperately wants and needs," Payne told The Star-Ledger in Newark, N.J. It was "one of the most difficult decisions I have made," Payne said. "I've really been mulling it over for quite a while." The Associated Press

At least 11 people have been killed and more than 20 wounded in three days of street battles in West Beirut between the Iranian- and Syrian-backed Hezbollah fighters and gunmen to the government, security officials said.

The satellite TV station affiliated with the party of Lebanon's top Sunni lawmaker, Saad Hariri, was forced off the air. Gunmen set the offices of the party's newspaper, Al-Mustaqbal, on fire in the coastal neighborhood of Ramlet el-Bayda. The Associated Press

Iraqi authorities had announced Thursday that police commandos captured Abu Ayyub al-Masri in a raid in the northern city of Mosul.

"Neither coalition forces nor Iraqi security forces detained or killed Abu Ayyub al-Masri. This guy had a similar name," said Maj. Peggy Kageleiry, a U.S. military spokeswoman in northern Iraq. She said no additional details were being immediately provided. The Associated Press

A spokesman for the country's department of agriculture told national radio on Wednesday that the government would allow an additional 5,000 tonnes of potatoes to be brought in.

The decision follows a request by Swiss potato industry association Swisspatat, who warned that supplies were already running low in the buildup to the June tournament.

The association has estimated that 3,000 additional tonnes will be needed to make chips for foreign supporters, with the remaining 2,000 used for other forms of potato.

The tournament runs from June 7 to 29 and will be co-hosted by Switzerland and neighboring Austria. Reuters