ARGONAUT GROUP (AGII,
18.38)- The workers compensation insurer said its fourth quarter loss
widened to $1.63 per share from last year's loss of 28 cents. The
company attributed the lower results to price competition.
CAVANAUGHS HOSPITALITY CORP (CVH,
7.75)- The hotel operator and entertainment company warned that a Y2K
related slowdown in holiday revenues will cause fourth quarter earnings to
fall short of expectations. The company now sees earnings of
$0.05-$0.06 in the quarter. Analysts were looking for 7 cents.
ECHELON INTERNATIONAL (EIN,
27.50)- The real estate company has agreed to be acquired by
investment group EIN Acquisition Corp for $34.00 per share in a $230
million all cash deal.
ELECTRO SCIENTIFIC INDUSTRIES (ESIO,
80.25)- The maker of laser manufacturing systems announced a 2 for 1
stock split. The shares rose 5.75 to 86 in after hours trading on
the news.
FIRSTFED AMERICAN BANCORP (FAB,
11)- The financial services company beat estimates by seven cents as
third quarter earnings rose 9% to 35 cents per share.
IMRGLOBAL CORP (IMRS,
10.88)- The provider of Information Technology services warned that it
expects to report a fourth quarter loss due to Y2K related contract
signing delays. The company now sees a loss of 12 to 15 cents in the
quarter, compared to analysts' expectations of a profit of 12 cents.
LANDRYS SEAFOOD RESTAURANTS (LNY,
8.81)- The seafood restaurant operator said it expects fourth quarter
revenues of $97 million and earnings of six cents per share, a penny above
expectations. The company also sees same store sales rising 4.9% in
the quarter.
LIBERATE TECHNOLOGIES (LBRT,
106)- The Internet software company has filed for a secondary offering
of 8.5 million shares, with 5.61 million shares being sold by existing
shareholders. The shares fell 3.45 in after hours trading on the
news.
MACDERMID INC (MRD,
35.88)- The chemicals maker beat estimates by two cents as third
quarter earnings rose 21% to 47 cents per share, excluding charges.
Revenues increased 33% to $201.6 million in the quarter. Gross
margins slipped to 47.4% from 47.8% in last year's third quarter.
MP3.COM (MPPP,
29.63)- The Recording Industry Association of America has filed a
copyright infringement suit against the music web site. The shares
fell 1.63 in after hours trading on the news.
ONEOK INC (OKE,
27.56)- The natural gas distributor said it has terminated plans to
merge with Southwest Gas (SWX,
22.31).
PEDIATRIX MEDICAL GROUP (PDX,
9.25)- A federal court has dismissed a class action lawsuit that
alleged the company engaged in improper billing procedures.
SAUER INC (SHS,
10.81)- The maker of mobile hydraulic products has agreed to merge
with Danish hydraulics maker Danfoss Fluid Power A/S in a $259 million
cash and debt deal. Sauer will issue 16.2 million shares of stock to
acquire Danfoss, and will assume $80 million of Danfoss's debt. The
company expects the deal to be accretive to 2001 earnings. Sauer
will change its name to Sauer-Danfoss following the merger, and expects
the new company to have $840 million in annual revenues.
STARWOOD HOTELS & RESORTS (HOT,
25.43)- the hotel operator has agreed to sell its Westin St. Francis
hotel to BRE/St. Francis for $243 million.
STATEN ISLAND BANCORP (SIB,
17.31)- The bank beat estimates by a penny as fourth quarter earnings
rose 36% to 38 cents per share. Net interest income rose 8.6% to
$36.5 million in the quarter.
URSUS TELECOM CORP (UTCC,
16.50)- The provider of telecom services warned that it will report a
wider than expected third quarter loss of 20 to 22 cents per share.
Analysts were looking for the company to earn 5 cents in the
quarter. The company attributed the lowered expectations to a 39%
reduction in its retail prices and said it expects revenues in the quarter
to fall 34% to $7.3 million. The shares fell 1.38 in after hours
trading on the news.
VISTA BANCORP INC (VBNJ,
15.50)- The bank beat full year estimates by a penny as earnings rose
22% to $1.33 per share in 1999. Net interest income rose 13% to
$23.64 million in 1999.
WARREN BANCORP INC (WRNB,
7)- The bank beat estimates by 2 cents as fourth quarter earnings rose
23.5% to 21 cents per share.
WESTERBEKE CORP (WTBK,
3)- The maker of marine engines said fourth quarter earnings fell to
$0.01 per share from last year's seven cents. Revenues rose to $8.5
million from $6.4 million in last year's third quarter.
WHITMAN CORP (WH,
11.68)- The company will take a fourth quarter charge of 17 cents per
share to cover costs associated with environmental liabilities.