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THIS MORNING'S STOCKS WEEK OF 5/24/99-5/28/99 |
5/28/99 |
| COMPUTER
ASSOCIATES (CA, 43.06)- The software maker topped estimates by 1 cent in its
first quarter, earning 83 cents a share, compared to 75 cents last year. Revenues
rose 11% to $1.63 billion in the quarter. The company said its client/server sales
rose 29% for the full year. HALTER
MARINE GROUP (HLX, 7.94)- The company said that it is in merger talks with an
undisclosed oilfield services company, but that no deal had been finalized.
LEGGETT & PLATT (LEG, 25.5)- The
company was mentioned favorably in this week's Business Week, with a $40 target given.
NCI BUILDING SYSTEMS (NCS, 24.06)- The
building materials manufacturer beat expectations by 5 cents, earning 47 cents a share in
its second quarter, compared to 37 cents last year. Revenues rose 128% to $217.4
million, and the order backlog in its building division rose 20% in the quarter. The
company is optimistic on its prospects for the year's second half.
PAINE WEBBER GROUP (PWJ, 44.43)- The
brokerage firm will join the S&P 500 after the close on June 4th.
SAGA PETROLEUM (SPM, 13.5)- French oil
giant Elf Aquitaine has offered to buy the Norwegian oil company for $2.2 billion in cash,
topping an offer made by Norsk Hydro.
SYLVAN LEARNING SYSTEMS (SLVN, 25.75)-
The provider of education programs will join the S&P MidCap 400 after the close on
June 4th.
VALERO ENERGY (VLO, 20.5)- The oil
refiner warned that it will report a second quarter loss due to weak refining margins.
The company said refining margins have weakened significantly since early April as
a result of rising crude oil prices and inventories that continue to be above historical
levels. Analysts were looking for Valero to earn 41 cents in the quarter. The
shares, down from a 52 week high of 35.31, could come under further pressure today. |
5/27/99 |
| CHEVRON (CHV,
94.06)- The company's merger talks with Texaco have reportedly stalled, according
to the Wall Street Journal. Chevron and Texaco are both down 1/2 point in
European trading on the news. CONSOL
ENERGY (CNX, 12.94)- The coal producer warned that due to lower average selling
prices for its products and higher costs it will earn only $6-$14 million in its second
quarter, compared to $39.9 million last year. The company went public in an April
30th IPO at $16 a share. The stock is headed lower in today's trading.
FATBRAIN.COM (FATB, 19.38)- The online
book retailer reported a first quarter loss of 46 cents a share, beating expectations by 4
cents. Revenues rose 40% to $6.1 million in the quarter, and online sales increased
to $4.5 million from last year's $1.8 million. Online customer accounts grew 32.2%
in the quarter.
FRIEDMANS (FRDM, 9.43)- The company's
Crescent Jewelers affiliate has hired an investment banker to explore strategic
alternatives to enhance shareholder value, including the possible sale of the company.
GROW BIZ INT'L (GBIZ, 9.06)- The retailer
warned that losses at its It's About Games retail chain will cause it to report a
breakeven second quarter.
HEFTEL BROADCASTING (HBCCA, 57.43)- The
company will join the S&P MidCap 400 Index after the close on June 1st.
JD EDWARDS (JDEC, 19)- The software maker
reported a narrower than expected loss of 10 cents a share in its second quarter, compared
to estimates of an 11 cent loss. Revenues rose 11% to $231.6 million in the quarter.
PALL CORP (PLL, 18.94)- The company beat
third quarter estimates by 5 cents a share, earning 28 cents in its thid quarter.
Sales rose 3.5% to $299.9 million in the quarter. Pall said that its restructuring
plan announced on March 2nd is progressing faster than expected. The filtration
maker reported strong European growth, but said Asian sales fell 2.5% due to economic
weakness in Japan.
TESORO PETROLEUM (TSO, 11.19)- The oil
refiner plans to sell or spinoff its exploration and development operations in order to
fund additional expansion of its refining and marketing operations. |
5/26/99 |
| BIOGEN (BGEN,
107.7)- The biotech said it was encouraged by Phase ll trials of its psoriasis
drug AMEVIVE and would begin Phase lll trials shortly. The stock jumped 7 points on
the news in after hours trading. DIMON
(DMN, 5)- The tobacco company settled a lawsuit with former shareholders of
Intabex Holdings. The company will retire debt as a result of the settlement and
expects the lower debt burden to add another 5 cents a share to annual earnings. The
company also announced that it has lowered its quarterly dividend to 5 cents a share from
the previous 9 cents.
DLJ DIRECT (DIR,-)- The online broker
priced 16 million shares at $20 apiece. The tracking stock for DLJ's online unit
begins trading today.
MINDSPRING ENTERPRISES (MSPG, 69)- The
Internet service provider announced a 2 for 1 stock split. The shares rose 2 points
in after hours trading. |
5/25/99 |
| BARNESANDNOBLE.COM
(BNBN, -)- The online bookseller priced 25 million shares at $18. The
company will begin trading on NASDAQ today. Barnes & Noble and Bertelsmann will
each hold 41.1% of the company after the offering. BRITISH
AIRWAYS (BAB, 72.5)- The airline reported a wider than expected fourth quarter
loss of 85 million pounds. The company blamed "industry-wide price
discounting" for the weaker than expected showing but remains optimistic on the
future.
LYCOS (LCOS, 97.75)- The company will
join the NASDAQ 100 on Friday.
NET PERCEPTIONS (NETP, 21.5)- The maker
of Internet ad software solutions reported a first quarter loss of 19 cents a share,
compared to last year's loss of 7 cents. Revenues rose 183% to $1.9 million.
THERMO ELECTRON (TMO, 19.38)- The company
announced a broadening of its restructuring plan and said it will take a $450 million
second quarter charge to cover the costs. Under the plan, TMO will reduce the number of
its publicly traded subsidiaries from 23 to 11. Yesterday the company said that
ThermoLase Corp, ThermoTrex Corp, and Thermo Ecotek Corp will be merged into Thermo
Electron. In addition, Thermo Vision Corp will be merged into its subsidiary Thermo
Instrument systems. Thermo Electron also said it will sell businesses with annual
sales of $350 million. |
5/24/99 |
| TELECOM ITALIA
(TI, 109)- Olivetti has won the the takeover battle for the Italian telecom
company and now holds a controlling 51% stake in TI. Look for shares of TI and
Deutsche Telecom, which lost out to Olivetti, to see action in today's trading. THE NORTH FACE (TNFI, 9.06)- The apparel maker
reported a wider than expected loss of 29 cents a share in its first quarter, compared to
analysts' estimates of a 3 cent loss. Revenues rose 12% to $51.3 million in the
quarter. The company remains confident that it can achieve full year expectations of
20% revenue growth and earnings of $1.00 a share. |
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