BAKER FENTRESS (BKF, 15.68)- The company will spin off to shareholders
its remaining 79% interest in property owner Consolidated-Tomoka Land.
EXPEDITORS INT'L (EXPD, 62.5)-
The freight handler announced a 2 for 1 stock split.
INPUT/OUTPUT (IO, 7.63)- The
oilfield equipment company's shares will receive a lift from a favorable mention in this
week's Business Week. An analyst believes the shares are worth $15.
LITTON INDUSTRIES (LIT, 64.75)-
The defense company made two unsolicited bids for rival companies. It bid $38 a
share for Avondale Industries, and offered to acquire Newport News Shipbuilding in a stock
swap, with Newport shareholders receiving 0.55 shares of Litton for each Newport share.
PROTEIN DESIGN LABS (PDLI, 15.43)-
The drug developer reported a 10 cent a share loss in its first quarter, beating
expectations by 5 cents.
QLOGIC (QLGC, 75.88)- The
company topped fourth quarter expectations by 5 cents, earning 45 cents a share in the
quarter. Revenues increased to $35.1 million from $22.7 million last year. The
shares rose 1/2 a point in after hours trading on the news.
5/6/99
AMERIN (AMRN, 22.75)- The insurer beat first quarter earnings
estimates by 2 cents a share, earning 55 cents, a 21% increase from last year. The
company's combined ratio fell to 56.3 from 60.0 last year.
CDNOW (CDNW, 18.38)- The Internet based music
retailer reported a narrower than expected loss of 96 cents a share in its first quarter,
compared to expectations of a $1.03 loss. The company lost 78 cents a share in last
year's first quarter. Sales rose 128% in the quarter.
COMPUSA (CPU, 7.13)- The PC retailer met
third quarter estimates of a 5 cent a share loss and said same store sales tumbled 7.2% in
the quarter. The company blamed pricing pressures and weaker than expected consumer
demand for the poor showing in the quarter.
DAMES & MOORE (DM, 12.31)- The
company has agreed to a $16 a share, $300 million bid from URS Corp. Look for the
shares to rise towards the bid price in today's trading.
ELECTRONIC ARTS (ERTS, 50.25)- The
software maker topped fourth quarter expectations by 2 cents, earning 35 cents a share in
the quarter. Revenues rose 36%.
MACROMEDIA (MACR, 37.13)- The software
maker earned 16 cents a share in its fourth quarter, beating expectations by 3 cents.
Revenues rose 47% in the quarter to $44 million.
PLAY BY PLAY TOYS (PBYP, 5.38)- The
company warned that it will lose 15 to 20 cents in its third quarter. Analysts were
looking for a profit of 9 cents a share. The company blamed the weak results on slow
demand for toys.
STERICYCLE (SRCL, 14)- The company beat
expectations by 4 cents, earning 18 cents a share in its first quarter as revenues jumped
80%. Look for the shares to get a boost in today's trading from the news.
5/5/99
ALTERNATIVE LIVING SERVICES (ALI, 22)- The operator of assisted living
residences reported a 78% jump in first quarter revenues to $82.9 million. Earnings
increased to 28 cents a share from last year's 16 cents. The company also warned
that it will miss analysts' earnings forecasts for 1999 and 2000. ALI expects to
earn $1.00-$1.10 this year and $1.40-$1.60 this year, compared to estimates of $1.44 and
$1.90 respectively. Look for the shares to be under pressure today.
AUTODESK (ADSK, 28.5)- The maker of CAD software
warned that first quarter earnings will be $0.10-$0.15, compared to estimates of 40 cents
a share. The company blamed a transition to new versions of its software for the
shortfall. The shares will likely lose altitude in today's trading.
EGGHEAD.COM (EGGS, 13.5)- The Internet
based software retailer reported a narrower than expected fourth quarter loss of 50 cents
a share, compared to estimates of a 56 cent loss. The shares gained 3/8 of a
point in after hours trading.
HOT TOPIC (HOTT, 17.63)- The apparel
retailer said first quarter sales rose 63% to $28.27 million. Same store sales
jumped 15.3% in the quarter. The news will be a positive for the stock in today's
trading. The shares are down from a 52 week high of 29.
JLM INDUSTRIES (JLMI, 5.38)- The company
warned that first quarter earnings would be below expectations due to pricing pressures
and weak international sales.
NEWBRIDGE NETWORKS (NN, 36.81)- Shares of
the networking company tumbled 8 points in after hours trading after it warned that fourth
quarter, as well as next year's first and second quarter, earnings would be significantly
below expectations. Look for the news to put a damper on the tech sector today.
PRICELINE.COM (PCLN, 134)- The Internet
company beat loss estimates by 1 cent, losing 12 cents a share in its first quarter. The
$24 billion in market cap reported a hefty $49.4 million in revenues during the quarter.
The shares fell 6 in after hours trading.
5/4/99
CIGNA (CI, 91.38)-
The insurer earned $1.21 a share in its first quarter, missing analysts' estimates by 6
cents. Excluding the property and casualty division which is being sold, the company
earned $1.12 a share compared to $0.98 last year. Earnings for Cigna's HMO and
indemnity operations rose 20% in the quarter.
COMDISCO
(CDO, 26.88)- The company will sell its mainframe computer leasing business to
IBM for an undisclosed amount. The shares added 1/2 a point in after hours trading
on the news.
COMPUTER SCIENCES (CSC, 63)- The computer
services company beat fourth quarter estimates by 1 cent, earning 72 cents a share as
profits rose 24%. Revenues rose 14% in the quarter to $2.13 billion. The
company registered strong growth in its international operations, with revenues rising
24%.
FOODMAKER (FM, 24.81)- The restaurant
operator's second quarter earnings rose 56% to 35 cents a share, topping expectations by 6
cents. Revenues grew 22% in the quarter and same store sales rose 9.1%. The
company's shares should get a boost from the better than expected results in today's
trading.
GOLDMAN SACHS GROUP (GS)- The investment
banker priced 69 million shares at $53 last night, raising $3.6 billion. Goldman's
shares begin trading this morning.
THE LIMITED (LTD, 44.63)- The apparel
retailer's shares will be strong today following news of a 15 million share buyback and
plans to spin off its Limited Too division. LTD also said it expects to earn 14
cents in the first quarter and 18 cents in the second compared to analysts' forecasts of
10 cents and 15 cents respectively.
TREX MEDICAL (TXM, 4.94)- the medical
device maker lost 13 cents a share its second quarter. Analysts' were looking for a
gain of 4 cents. Trex said it plans to cut costs by laying off 15% of its workforce.
Revenues fell 10.5 % in the quarter.
5/3/99
AMERICAN MANAGEMENT SYSTEMS (AMSY, 34.38)- The information
technology consultant has been sued by the state of Mississippi for $985 million.
Mississippi also canceled an $11.2 million contract with the company.
CABLE DESIGN TECHNOLOGIES (CDT, 14.88)- The
communications equipment maker warned that it will miss third quarter estimates by 5 to 7
cents a share. The company blamed the weakness on "an extremely slow
February" and lower than expected sales of communication cables in the U.S.
CITADEL COMMUNICATIONS (CITC, 28)- The
company will acquire Fuller-Jeffrey Broadcasting, an operator of 10 radio stations in
Maine and New Hampshire, for $63.5 million.
DEL LABORATORIES (DLI, 18.94)- The
drugmaker's first quarter earnings fell to 5 cents a share, compared to 39 cents one year
ago. Revenues slumbed 5.6% in the quarter due to lower sales of its Naturistics
cosmetics line and a decrease in gross margin.
EDISON INTERNATIONAL (EIX, 24.5)- The
utility will buy 2 power plants from the U.K.'s Powergen Plc for $2 billion.
EMMIS COMMUNICATIONS (EMMS, 45)- The
company will restate 1998 earnings to reflect an accounting adjustment. The
restatement will lower 1999 earnings by 15 cents a share.
KIMCO REALTY (KIM, 39.25)- The REIT
reported an 18.3% increase in first quarter funds from operations to 84 cents a share,
beating analysts' expectations by 4 cents.
MERCANTILE BANCORP (MTL, 57)- The banking
group has agreed to be acquired to Firstar for $10.1 billion, or approximately $63 a
share.
NEWELL RUBBERMAID (NWL, 47.43)- The
consumer products company received a favorable mention in this week's Barron's.
POOL ENERGY SERVICES (PESC, 17.94)- The
company's fist quarter earnings fell to 3 cents a share from 38 cents last year. The
results beat expectations of a break even quarter. The oil services company said rig
activity for its US Land unit has stabilized, and showed an increase in April.
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