Sun Seeks Stock Split; Intel Drops After Hours on Barron's Story

According to a Securities and Exchange Commission filing, Sun Microsystems (SUNW Quote) has asked its shareholders to approve a 2-for-1 stock split, which would double its authorized stock to 3.6 billion. The stock split, which will be voted on by shareholders Nov. 10, would be payable Dec. 9.

After-Hours Markets

CNBC, in its weekly Barron's preview, revealed that Intel (INTC Quote) would be the subject of a negative cover story to be released this weekend. The news, which broke around 7 p.m. EDT, sent Intel's stock down in after-hours trading on Island ECN.

Nonetheless, Friday night trading is thin and tonight is no exception. Aside from Intel, not much else was moving on Island ECN. Digital Insight (DGIN Quote) continued trading on the popularity of its IPO, while tech stocks dominated the rest of the chart.

10 most active stocks on Island ECN (8 p.m. EDT)
Name	Price	Change	Session Volume
Digital Insight (DGIN Quote)	32 1/8	+1/8	39,372
Dell (DELL Quote)	42 1/2	+1/16	37,732
Excite@Home (ATHM Quote)	45 7/16	+7/8	28,128
Oxford Health Plans (OXHP Quote)	12 5/8	+1/16	26,460
Sun MicroSystems (SUNW Quote)	92 3/8	+3/8	24,220
Intel (INTC Quote)	72 1/2	-2 7/16	23,498
Amazon.com (AMZN Quote)	77	-5/16	14,634
Microsoft (MSFT Quote)	90 1/4	+1/4	14,028
Acclaim Entertainment (AKLM Quote)	8 9/16	+3/8	12,800
CMGI (CMGI Quote)	99 3/8	+3/16	10,464

Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EDT. Prior to Sept. 15 Island offered trading from 8 a.m. to 5:15 p.m. EDT.

-- Eric Gillin

Major Indices INDEX CHANGE % VALUE YR TO DATE Dow 63.95 -0.6% 10,273.00 +11.9% S&P 500 0.10 +0.01% 1282.81 +4.4% Nasdaq 9.28 -0.3% 2736.88 +24.8% Russell 2000 3.77 -0.9% 423.53 +0.4% TSC Internet 0.26 -0.04% 647.12 +59.3% BOND CHANGE PRICE YIELD 30-Year Treasury 1 5/32 99 26/32 6.139%

In other postclose news (earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified):

Mergers, acquisitions and joint ventures

CMGI's (CMGI Quote) Web search engine AltaVista said it inked a three-year $65 million agreement with HealthCentral.com that calls for the site to supply content for AltaVista's health channel, which is set to debut in late fall. HealthCentral.com will pay a small amount of the $65 million in equity, while the remaining payment will depend on quantity of traffic that is directed to the site from the channel.

Earnings/revenue reports and previews

Ceridian (CEN Quote) warned investors that its fourth-quarter earnings would be 25 cents to 27 cents a share, missing the 10-analyst estimate of 31 cents. The company blamed the disappointing results on Y2K complications. Ceridian said, however, that it expects third-quarter and fiscal 2000 earnings to meet the 11-analyst estimate of 24 cents a share and the 11-analyst estimate of $1.31, respectively.

Olsten (OLS Quote) revised its results for its second quarter, third quarter and fiscal 1998 along with its 1999 first and second quarter. The company posted a revised loss of 44 cents a share for fiscal 1998, greatly differing from its initial report of a 5-cent profit. For its first quarter 1999, Olsten restated its loss to 28 cents a share, better than first report of a 77-cent loss. The company said the revisions, which were necessary to account for $56 million special charge from a two health-care investigation settlements and roughly $2 million in other charges, should not alter the details of its planned merger with Adecco (ADECY Quote).

Offerings and stock actions

REIT Manufactured Home (MHC Quote) said it will add 1 million shares to its existing share repurchasing program.

Miscellany

Aetna (AET Quote) said a Philadelphia federal judge rejected a class-action lawsuit brought on by the Foundation for Taxpayer and Consumer Rightsand three plaintiffs claiming that the company breached federal racketeering statutes and state law.

Broadcom (BRCM Quote) founder Henry Nicholas said he did not intend to buy a sports team, squashing rumors that the billionaire was pinning Disney's (DIS Quote) Anaheim Angels and Mighty Ducks as possible acquisitions. Nicholas did say, however, that his company was attempting to help Disney forge a deal with another undisclosed buyer that partial to lending Broadcom media and interactive rights to the teams.

The Teamsters union said that it has granted the request of Union Pacific (UNP Quote) division Overnite Transportation to allow workers to elect union representation. A Teamsters spokesperson said the union decided to allow the vote after Overnite's Sept. 29 press release urging it to let the "democratic process decide" if its workers wanted Teamsters representation.

Merck (MRK Quote) said it will request Food and Drug Administration approval for its male osteoporosis treatment Fosamax. A spokesperson for Merck was not sure when the company would submit its request but said that it will use positive results from the drug's Phase V trial to support its application.

Mesaba (MAIR Quote) said it has tapped former Atlas Air (CGO Quote) vice president Paul Foley as its new president and CEO. Foley will replace Bryan Bedford, who departed from the company to become president and CEO of US Airways (U Quote) affiliate Chautauqua Airlines.