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
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