Monday A.M. Report

Valspar’s revenue, earnings rise in Q3: The Valspar Corp.’s profit grew in the third quarter of its fiscal 2010, as increased sales offset the rising costs for raw materials. The Minneapolis company, which makes paints and other coatings, posted net income of $75.1 million, or 74 cents per share, for the quarter ended June 30. Read full story

Petters witness jailed for contempt: A government witness who helped build former businessman Tom Petters’ $3.65 billion Ponzi scheme and testified during his trial was jailed by a federal judge for contempt on Friday. Court-appointed receiver Douglas Kelley, who is leading efforts to recover investors’ bilked funds, asked Judge Ann Montgomery to sanction Larry Reynolds after learning of his divorce. Read full story

Electromed prices initial public offering: Electromed Inc. on Friday announced the pricing of its initial public offering of 1.7 million shares of common stock at a price of $4 per share, before underwriting discounts and commissions. The offering is expected to close on Aug. 18, subject to the terms and conditions of the purchase agreement between Electromed and Feltl and Co. Inc., which is acting as the underwriter for the offering. Read full story

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