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DANKA BUSINESS SYSTEMS (DANKY, 0.97)- The distributor of printers and copiers said its fourth quarter net loss widened to $2.12 per share from last year's loss of 39 cents.  Revenues in the quarter fell 19.3% to $118.8 million, and gross margins tumbled to 18.7% from last year's 31.2%.

NETZERO INC (NZRO, 0.95)- The provider of free Internet access services has agreed to merge with Internet service provider Juno Online Services (JWEB, 1.48).  The merged company will be known as United Online Inc (Nasdaq, UNTD), with NetZero shareholders owning 61.5% of the company and Juno shareholders controlling 38.5%.  Under the terms of the deal, NZRO shareholders will receive 0.2 shares of United Online for each share held, and Juno shareholders receiving 0.357 United Online shares for each share held.
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URS CORPORATION (URS, 27.74)- The provider of construction management services met expectations as its second quarter earnings rose 8% to 55 cents per share.  Revenues in the quarter increased 2% to $546 million.

BROADCOM CORP (BRCM, 35.57)- The broadband chipmaker warned that its second quarter results will fall short of expectations.  The company now sees its second quarter revenues tumbling 32%-35% sequentially to $202-$211 million, compared to analysts' estimates of $254 million.

BURLINGTON COAT FACTORY (BCF, 20.10)- The retailer said its fourth quarter same store sales rose 0.7%.  Fourth quarter total sales increased 7.2% to $524.6 million

FAMILY DOLLAR STORES (FDO, 28.30)- The discount store operator said its May same store sales rose 2.8%.  May total sales increased 14.2% to $278.4 million.

ON SEMICONDUCTOR CORP (ONNN, 6.70)- The chipmaker said it will reduce its workforce by 12%, or 1,000 employees.

PENNENGINEERING & MANUFACTURING (PNN, 21.15)- The maker of engineered products warned that its second and third quarter earnings will fall short of previous guidance due to economic weakness, a sharp downturn in the technology and telecom industries, and inventory adjustments.  The company now sees second quarter earnings falling 13% from last year's levels, and expects third quarter revenues to tumble 28%-32%.  The company said it sees second quarter earnings below the consensus analyst estimate of 40 cents per share.

ROSS STORES INC (ROST, 24.39)- The operator of off-price apparel stores said its May same store sales fell 1%.  May total sales increased 6% to $221 million.  The company warned that it sees second quarter earnings of $0.43-$0.46 per share, slightly below analysts' estimate of 47 cents.

ROYAL AHOLD NV (AHO, 30.28)- The Dutch grocery store operator said its first quarter earnings rose 18.3% to Euro 0.41 per share.  Revenues in the quarter increased 65.9% to Euro 18.17 billion.

SWIFT TRANSPORTATION CO (SWFT, 17.17)- The trucking company warned that its second quarter earnings will fall short of expectations due to continued weak freight volumes.  The company now sees earnings of $0.08-$0.12 per share, compared to analysts' estimates of 17 cents.

TARGET CORPORATION (TGT, 37.34)- The discount store operator said its May same store sales rose 0.9% .  May total sales increased 6.9% to $2.68 billion.

ARTESYN TECHNOLOGIES (ATSN, 15.36)- The maker of power conversion equipment warned that its second quarter results will fall short of expectations due to "continued market softness".  The company now sees revenues of $120 million and expects to post a loss of ($0.15)-($0.20) per share.  Analysts were looking for revenues of $158 million and a profit of three cents.  The company also said it will reduce its workforce by 12%-15%.

CALDERA INTERNATIONAL (CALD, 1.85)- The maker of Linux software said its second quarter loss narrowed to 29 cents per share from last year's loss of 32 cents.  Revenues in the quarter rose 52% to $1.6 million.  The company warned that its third quarter and full year results will fall short of expectations.  The company now sees a third quarter loss of ($0.40)-($0.42), and a full year loss of ($1.22)-($1.29).  Analysts were looking for a third quarter loss of 13 cents and a full year loss of 81 cents.

DATARAM CORP (DRAM, 11.45)- The maker of PC memory products missed estimates by four cents as its fourth quarter earnings fell to seven cents per share from last year's 24 cents.  Revenues in the quarter declined to $25.9 million from last year's $32.9 million.  The company said it sees first quarter earnings of $0.12-$0.14 per share, compared to last year's 31 cents.

DELIAS CORP (DLIA, 4.58)- The teen apparel retailer beat estimates by a penny as its first quarter loss narrowed to 23 cents per share from last year's loss of 35 cents.  Revenues in the quarter slumped 26.2% to $36.2 million, above analysts' estimates of $31 million.  The company warned that it sees a second quarter loss of ($0.16)-($0.18) per share, compared to analysts' estimates of a loss of 12 cents.

INGRAM MICRO INC (IM, 13.58)- The distributor of technology products said it will reduce its workforce by 1,000 (approximately 6%) and close two distribution cents.  The company sees the announced restructuring moves resulting in $30-$40 million in annual cost savings.

VAIL RESORTS INC (MTN, 20.60)- The resort operator beat estimates by five cents as its third quarter earnings fell to $1.16 per share from last year's $1.23.  Revenues in the quarter rose 1.6% to $219 million.

ASHWORTH INC (ASHW, 8.10)- The maker of golf-inspired sportswear met expectations as its second quarter earnings rose 15.4% to 30 cents per share.  Revenues in the quarter increased 13.7% to $46.9 million.  The company warned that slowing economic conditions will cause second half earnings to fall short of expectations.  The company now sees full year earnings of $0.40-$0.43 per share, compared to analysts' estimates of 61 cents.

LIBERTY FINANCIAL CO (L, 33.80)- The financial services company has agreed to sell its asset management business to Fleet Boston Financial (FBF, 41.79) in an all-cash $1 billion deal.  The company also said it has agreed to be acquired by Liberty Mutual for $33.44 per share in cash.
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GLOBAL TELESYSTEMS INC (GTS, 0.38)- The New York Stock Exchange has suspended trading in the company's shares due to a failure to maintain minimum listing requirements.

LTX CORP (LTXX, 25.22)- The semiconductor equipment maker will join the S&P MidCap 400 Index after today's close.

OFFSHORE LOGISTICS INC (OLOG, 22.06)- The provider of helicopter transportation services to the oil industry beat estimates by a penny as its fourth quarter earnings rose to 35 cents per share from last year's 14 cents.  Revenues in the quarter rose 18.7% to $121.7 million.

SATYAM INFOWAY LTD (SIFY, 3.74)- The Indian Internet portal operator said its fourth quarter net loss rose to $18.2 million from last year's $3.8 million.  Revenues in the quarter jumped 101.6%, and 19% sequentially, to $11.9 million.

COBALT GROUP INC (CBLT, 1.95)- The provider of e-business products has agreed to be acquired by a Warburg Pincus led private investment group for $3.50 per share, a 79% premium to Friday's closing price.  The deal values the company at $71 million.

EDISON SCHOOLS INC (EDSN, 24.25)- The school operator has agreed to acquire education management company Learn Now Inc for 1.4 million EDSN shares plus $4 million in cash, for a total purchase price of $38 million.  The company said the deal will be accretive to this year's earnings by three cents.

MANCHESTER TECHNOLOGIES (MANC, 2.52)- The IT products distributor met expectations as it reported a third quarter loss of eight cents per share, compared to last year's profit of 18 cents.  Revenues in the quarter slumped to $68.6 million from last year's $81.9 million.

TWEETER HOME ENTERTAINMENT GROUP (TWTR, 28.75)- The home entertainment retailer has agreed to acquire Sound Advice Inc (SUND, 15.00) in a $115 million all-stock merger.  Under the terms of the agreement, SUND shareholders will receive one TWTR share for each SUND share held, valuing SUND at $28 per share, an 83% premium to Friday's closing price.  TWTR expects the deal to be $0.05-$0.06 per share accretive to fiscal 2002 earnings.
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VALERO ENERGY CORP (VLO, 44.73)- The oil refiner said it expects to beat analyst' second quarter earnings estimates.  The company now sees earnings exceeding $4.00 per share, compared to analysts' expectations of $3.24.  The company attributed its better than expected performance to rising oil refining margins.

WALGREEN CO (WAG, 40.01)- The drugstore operator said its May same store sales rose 10.5%.  May total sales increased 15.9% to $2.13 billion.