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Friday A.M. Report

Digital River profit slips, $1M to fund high-speed rail study, U.S. Bank may move St. Paul site to Richfield, ValueVision president is former QVC exec, and EnteroMedics plans new clinical trial.

igital River profit slips in Q4: Digital River Inc. said Thursday its profit slipped in the fourth quarter, though its results still beat analysts’ expectations. The Eden Prairie-based e-commerce company reported a profit of $13.6 million, or 36 cents per share, in the quarter. That’s down from $16.5 million, or 41 cents per share, during the same period a year ago. The results exceeded the company’s previously issued guidance of between 18 cents and 22 cents per share. Read full story

$1M to fund St. Paul-Chicago high-speed rail study: The federal government will provide $823 million in stimulus funds to support development of a high-speed rail route that may ultimately connect the Twin Cities and Chicago. The funding package, part of $8 billion awarded for rail projects nationwide, includes $1 million to study expanding a Milwaukee-Chicago route to St. Paul. Read full story

U.S. Bank likely moving St. Paul site to Richfield: U.S. Bancorp is nearing a deal to lease roughly 300,000-square-feet at Meridian Crossings in Richfield, where it will relocate employees who now work in a building on Shepard Road in St. Paul. The bank hasn’t signed a lease yet, but it is far along in its negotiations, according to real estate industry sources. Read full story

ValueVision names former QVC exec as president: ValueVision Media has named former QVC shopping network executive Bob Ayd to the position of president. Ayd will manage merchandising, programming and other operations at the Eden Prairie-based company. ValueVision runs the ShopNBC shopping network. Ayd most recently served as chief merchandising officer and executive vice president of QVC. Read full story

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EnteroMedics plans new clinical trial: EnteroMedics Inc. is planning to conduct an additional clinical study to determine whether its medical device effectively treats obesity, the company said Thursday. The announcement comes months after the firm completed an initial clinical trial, which produced mixed results. Read full story