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THIS MORNING'S STOCKS WEEK OF 5/17/99-5/21/99

5/21/99

ADC TELECOMMUNICATIONS (ADCT, 47.94)- The telecom equipment supplier beat estimates by 2 cents, earning 32 cents a share in its second quarter.  Revenues rose 26% to $420 million in the quarter, with particular strength in its Broadband Connectivity unit.   The shares edged up 1/8 in after hours trading.

AGCO CORP (AG, 10.63)- Business Week reports that a European company is considering making a $24 a share bid for the farm equipment manufacturer.  The shares will get a boost from the news in today's trading.

BOSTON SCIENTIFIC (BSX, 43.25)- The company's shares will get a lift from the news that the FDA has approved its NIR Primo Monorail coronary stent.

CHOCK FULL O NUTS (CHF, 10.38)- The company's board of directors is recommending that shareholders reject Sara Lee's $10.50 hostile offer for the company. Separately, Sara Lee said the bid has cleared antitrust hurdles.

DELPHI AUTOMOTIVE (DPH, 20.5)- The auto parts maker will join the S&P 500 after the close on May 27th.

MARK IV INDUSTRIES (IV, 18.63)- The auto products maker said it will buy back 20% of its outstanding shares.

NEOMAGIC (NMGC, 9.38)- Excluding charges, the company earned 34 cents a share in its first quarter as revenues rose 52% to $72.4 million.  The company warned however that production delays would cause it to report lower than expected second quarter revenues and profits.

5/20/99

AMERICAN EAGLE OUTFITTERS (AEOS, 38)- The apparel retailer beat first quarter estimates by 4 cents, earning 25 cents a share, an increase of 110% from the prior year.  Revenues rose 45.9% to $145.4 million, and same store sales jumped 27.5% in the quarter.

CIRCUS CIRCUS ENTERPRISES (CIR, 24)- The company topped expectations by 3 cents, earning 43 cents a share before charges in its first quarter.  Revenues rose to $471.26 million in the quarter, compared to $356.96 million last year.  The casino operator's shares rose 3/4 in after hours trading on the news.

ETEC SYSTEMS (ETEC, 36)- The chip equipment maker earned 9 cents a share beofre charges in its third quarter, missing estimates by a penny.  Revenues tumbled 18% to $57.2 million.  The company blamed overcapacity in Taiwan and pricing pressures in Europe for the lower than expected results.  Excluding one-off charges, gross margins fell to 44% from 51% in last year's quarter.  The company also warned that industry conditions will lead to lower than expected fourth quarter and first quarter revenues.  Etec expects to post losses in both quarters.  The shares will be under pressure in today's trading.

ETOYS (ETYS, -)- The online toy dealer priced 8.3 million shares at $20 last night.  The stock makes its debut today.

PHOTRONICS (PLAB, 25.5)- The company reported lower second quarter earnings of 9 cents a share, 2 cents below analyst's expectations.  Revenues fell 12% to $53.8 million in the quarter from $61.3 million last year.

VENATOR GROUP (Z, 11.5)- The athletic shoe retailer posted a narrower than expected loss in its first quarter, losing 8 cents a share.  Revenues inched up 2% to $1.08 billion in the quarter.  The company said the athletic footwear market is beginning to improve.  Venator, along with fellow retailer Just For Feet, and shoe maker Fila (our chart of the day) are showing signs of breaking out to the upside and all 3 companies are attractively priced at current levels after long declines.

5/19/99

APPLIED MATERIALS (AMAT, 63.13)- The semiconductor equipment maker earned 36 cents a share in its second quarter, beating expectations by 9 cents.  New orders increased 35% to $1.39 billion in the quarter.  The company said the chip making equipment industry is in the early stages of a recovery.  The shares rose 2 3/8 in after hours trading on the better than expected results.  The news should give a boost to the shares of other semiconductor equipment makers in today's trading.

DELL COMPUTER (DELL, 44.06)- The PC maker met expectations, earning 16 cents a share in its first quarter.  Revenues rose 41% and earnings rose 42% in the quarter.   The stock fell $3 in after hours trading.

LYCOS (LCOS, 112.94)- The Internet portal's shares rose 2 1/2 in after hours trading after the company announced a 2 for 1 stock split.  Lycos also reported a third quarter loss of 2 cents a share, compared to analyst estimates of a 3 cent loss.

5/18/99

ADVANCED DIGITAL INFORMATION (ADIC, 25)- The maker of automated tape libraries beat estimates by 4 cents, earning 35 cents a share in its second quarter, an increase of 75%.  Revenues surged 118% to $54 million in the quarter.  The company cited strong sales to Internet companies for the better than expected results.

CORAM HEALTHCARE (CRH, 2.19)- The company has reached a deal with Mediconsult.com that will allow it to sell its over-the-counter and prescription products on the Internet starting in the third quarter.  The news will be viewed favorably in today's trading.

HEWLETT-PACKARD (HWP, 88.75)- The computer maker beat second quarter estimates by 8 cents a share, earning 88 cents, a 34% increase from the prior year.  Revenues increased to $12.4 billion, from $12.0 billion last year, with strong growth reported in PC sales and the company's measurement business.  The news led to a surge in Asian tech shares overnight, and will likely lead to a surge in U.S. tech shares today.

PANAMSAT CORP (SPOT, 34.5)- The satellite operator warned that delays in launching seven new satellites will result in 1999 earnings and revenues being significantly below expectations. Analysts were looking for $1.17 a share, the company expects earnings to be below last year's 83 cents. PanAmSat expects revenues in 2000 to be 30%-40% above this year's. The news will put pressure on the shares in today's trading.

ST. PAUL BANCORP (SPBC, 24.68)- The bank has agreed to be acquired by Charter One Financial in a $1.2 billion deal.  Each SPBC share will be exchanged for 0.945 shares of Charter One Financial. The two companies have scheduled a conference call for 10 a.m. this morning to discuss the merger.

ULTRADATA (ULTD, 6)- The software maker has agreed to be acquired by CFI ProServices for $7.50 a share in a cash deal worth $63 million.

5/17/99

BELL CANADA (BCE, 46.25)- The company's operators and technicians have ratified a new contract proposal, ending a 5 week old strike.

BERKSHIRE HATHAWAY (BRK.A, 74300)- Warren Buffett's company reported that first quarter net income fell to $541 million, a 25% decline from the prior year.  The company blamed underwriting losses at its recently acquired General Re unit for the fall in earnings.

CASE CORP (CSE, 44.81)- Fiat-controlled New Holland NV will acquire the farm equipment maker in an agreed $4.3 billion cash deal.   New Holland will pay $55 a share for Case's stock.  The companies expect the deal to produce $400-$500 million in annual cost savings within 3 to 4 years.  Fiat will retain a 71% stake in the new company.

GULFSTREAM (GAC, 55.63)- The aircraft manufacturer has agreed to be acquired by General Dynamics in a $5.3 billion deal.   The companies expect the deal to be accretive to earnings.

ING GROEP NV (ING, 55.19)- The Dutch banking group received a favorable mention in this week's Barron's.

KEEBLER FOODS (KBL, 31.88)- The cookie baker will take a 48 cents a share ($69 million) charge in its second quarter to cover the costs of a plant closing in New Jersey and 600 job cuts.

K-TEL INTERNATIONAL (KTEL, 8.03)- The music seller reported a third quarter loss of 50 cents a share, compared to last year's loss of 12 cents.  Revenues rose 13% to $18.5 million in the quarter.  The company blamed continued investment in its Internet e-commerce division, lower sales in Germany, and increased costs for the poor showing.

TITAN EXPLORATION (TEXP, 5.25)- The oil explorer reported a wider than expected loss of 79 cents a share in its first quarter, compared to analysts' estimates of an 11 cent loss.  Oil and gas revenues declined 33% in the quarter to $14.8 million.  The company blamed lower prices received for crude oil and natural gas for its worse than expected showing.

US WEST (USW, 62.25)- The Baby Bell has agreed to merge with upstart Global Crossing Ltd in a $37 billion merger.  Each US West share will be exchanged for 1.2 shares of the 2 new tracking stocks which will be created: Global Crossing Class G (global service provider), and Global Crossing Class L (local service provider).  Based on Friday's close the deal values each US West share at $73.50 a share.

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Last modified: April 02, 2000

Published By Tulips and Bears LLC