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Tuesday P.M. Report

Medtronic profit jumps in Q4, Piper to pay $700K fine over e-mails, Icahn takes a stake in Lawson, and mag names General Mills among best for multicultural women.

Medtronic profit jumps in Q4: Medtronic’s profit soared in the fourth quarter, compared with the same period a year ago, when the medical device maker recorded several hefty one-time charges. The Fridley-based company reported fourth-quarter earnings of $954 million, or 86 cents per share. That’s up from a profit of $103 million, or 9 cents per share, during the same period a year ago. In the fourth quarter of 2009, Medtronic recorded several one-time charges, including $530 million related to acquisitions. Read full story

Piper to pay $700,000 fine over e-mails: Piper Jaffray & Co. will pay a $700,000 fine after it failed to save about 4.3 million e-mails sent during a six-year period, the Financial Industry Regulatory Authority (FINRA) said Monday. FINRA, a non-governmental regulator of securities firms, said the Minneapolis-based investment bank did not disclose that it wasn’t retaining the e-mails. The issue was discovered when FINRA requested documents as part of an investigation into a former Piper employee. Piper blamed “inadvertent and isolated e-mail retention problems caused by technology issues.” Read full story

Icahn takes a stake in Lawson: Activist investor Carl Icahn disclosed in a regulatory filing on Monday that he has acquired an 8.5 percent stake in Lawson Software. Icahn is well known for pressuring a company’s management into making changes after acquiring a substantial amount of that company’s shares. Read full story

Working Mother names General Mills among best for multicultural women: Working Mother magazine has named General Mills as one of its 2010 Best Companies for Multicultural Women. The magazine reported that multicultural women make up 7 percent of Golden Valley-based company’s  U.S. workforce. About 16 percent of the company’s management-level employees hired last year are women of color. Also, 3 percent of its corporate executives are multicultural women. Read full story