Updated from 11:59 a.m. EST.
When people aren't looking through binoculars and spying on Fed Chairman Alan Greenspan's every move during this critical two-day Federal Open Market Committee 
meeting, they're perusing earnings reports from about a trillion different companies. Well, give or take a couple million. Most notable was a report from Nokia (NOK Quote), in which the wireless-handset giant warned that the first quarter of 2001 would not be quite as good as originally thought. Nokia closed down $1.71, or 4.6%, to $35.28. You can check that and other stories by clicking on the following headlines:
Terra Lycos Buys Raging Bull
Pitney Bowes Earnings Fall Short of Analysts' Forecasts
Nokia Drops 8.1% on First-Quarter Outlook
Aetna Tops Expectations By Four Cents
Procter & Gamble Scrubs Up Sparkling Earnings Mergers, acquisitions and joint ventures
Terra Lycos (TRLY Quote) bought the Bull. The much-shopped around Raging Bull financial community, majority-owned by CMGI (CMGI Quote), was purchased by the Spanish Internet company in an all-cash deal. The terms of the deal were not released. Terra Lycos finished the day up $1, or 6.4%, to $16.63. Unilever (UN Quote), a British and Dutch consumer products maker, has been jettisoning its foods groups in an attempt to garner approval for its takeover of Bestfoods. Today, the company announced that Sara Lee (SLE Quote) and Mexico's Grupo Bimbo were on the short list to buy the Bestfoods Baking unit, which includes Thomas' English muffins and Entenmann's delectable goodies. The deal is expected to be worth around $1.3 billion. Yesterday, Unilever sold its dry soup brands to Campbell Soup for $925 million. Unilever ended up $1.42, or 2.6%, to $56.25. Back to top Earnings/revenue reports and previews
Cardinal Health (CAH Quote), the second-largest wholesaler of pharmaceuticals and medical equipment, announced second-quarter earnings of 75 cents a share, matching the average analyst estimate and topping the year-ago 62 cents a share. Revenues came in at $7.7 billion, topping the $7.5 billion estimate. Going forward, Cardinal reaffirmed its 20% earnings growth target, saying the merger with Bindley Western Industries (BDY Quote) would not impact the bottom line. Cardinal closed down $3.45, or 3.5%, to $96.60. Cooper Cameron (CAM Quote), an oil-service company that makes pressure valves and other equipment vital to the search for bubbling crude, announced fourth-quarter earnings of 46 cents a share that crushed the 33-cent analyst estimate. But those numbers are raw and exclude all charges, in keeping with the way that the analysts calculate their estimates. Using a different tactic and including charges, Cooper Cameron blew a gasket, with the fourth-quarter coming in with an 18-cent loss, due to charges related to exiting businesses and employing cost-cutting measures. Going forward, Cooper said 2001 earnings would come in at $2 a share, topping the $1.96 estimate. Cooper Cameron finished up $1.81, or 2.98%, to $62.50. Devon Energy (DVN Quote) drove home the point that higher-than-usual energy prices can be really good sometimes. It announced fourth-quarter earnings of $2.27 a share, easily beating the $1.90 analyst estimate and destroying the year-ago 52 cents a share. Devon ended down 67 cents, or 1.2%, to $55.82. Pepsi Bottling Group (PBG Quote), which is Pepsi's (PEP Quote) leading bottler in much the same way that Coca-Cola Enterprises (CCE Quote) is Coca-Cola's (KO Quote) leading bottler, announced fourth-quarter losses of 3 cents a share, excluding all charges, missing the analyst expectation, which called for a break-even quarter. When compared to the year-ago quarter's 19-cent loss, the results look somewhat better but not good enough. Pepsi Bottling CEO Craig Weatherup announced that he will be stepping down at the end of the year, keeping his chairman's seat. Current president and COO John Cahill will fill his shoes. Pepsi closed down $1.50, or 4.1%, to $38.50 and Coke ended up 79 cents, or 1.4%, to $57.91. Polaris Industries (PII Quote), which makes all those cool vehicles you wanted as a kid, like all-terrain vehicles and snowmobiles, announced fourth-quarter earnings of $1.17 a share, topping the $1.12 a share estimate and the year-ago $1.02 a share. The recreational vehicle maker cited strong ATV -- or rather "four-wheeler" -- sales as a big reason for the upside surprise. Also helping was the company's continued push into vehicle accessories, hawking custom parts, rider apparel and other gear-head detritus. Polaris finished up $1.10, or 2.5%, to $45.60. Transocean Sedco Forex (RIG Quote) does deep-sea drilling, the kind of laborious task done by the heroes in Armageddon. And although the company has yet to destroy an asteroid set to obliterate Earth, it did announced fourth-quarter earnings of 16 cents a share, topping the lowered 12-cent estimate. Way back on Dec. 1, Transocean warned that its fourth quarter would come in between 10 cents and 15 cents a share. Transocean Sedco Forex ended up $3.25, or 7.9%, to $44.25. United Parcel Service (UPS Quote), best known as UPS and best known for its brown-socked delivery people, announced fourth-quarter earnings of 63 cents, topping the lowered 61-cent estimate. The slowing U.S. economy hurt holiday sales and therefore, UPS's holiday shipments. UPS finished up 80 cents, or 1.3%, to $61.60.
After Monday's Close Earnings season is beginning to wind down, but that doesn't mean there isn't quite a bit going on. What with Cisco Systems (CSCO Quote) acknowledging the
increasingly difficult economic environment and Disney (DIS Quote)
reconfiguring its online unit, companies are still finding things tough right now. Cisco finished up 75 cents, or 2%, to $38. TheStreet.com wrote the following earnings stories Monday night:
Quest Diagnostics Beats Estimates by a Penny
Semitool Meets Estimates, but Sees Revenue, Income Slowing
MEMC Electronic Materials Turns a Profit, but Points to Slowdown
Idec Pharmaceuticals Matches Fourth-Quarter Expectations
Expedia Reports Narrower-Than-Expected Loss
InfoSpace Tops Analysts' Estimates as Revenue Rises Sharply
Guidant to Record $127 Million Charge in Fourth Quarter
Structural Dynamics Easily Beats Forecast
Gateway Founder Waitt Replaces Weitzen as CEO Aflac! (AFL Quote), the supplemental insurance company and harbor for rowdy poultry, reported earnings of 62 cents a share, in line with the 19-broker consensus. The company reported a 17% increase in earnings on a year-over-year basis. At this time a year ago, the company earned 53 cents a share. Aflac! closed down 6 cents, or 0.1%, to $60.95. Chartered Semiconductor (CHRT Quote) reported earnings of 56 cents a share, beating the six-broker consensus looking for 52 cents a share. Chartered ended up $5.44 cents, or 19.1%, to $33.94. Embarcadero (EMBT Quote), an Internet software company, reported earnings of 10 cents a share, easily beating the two-broker consensus looking for 7 cents a share. Embarcadero closed down $1.63, or 3.8%, to $41.56. Galileo (GLC Quote) was magnifico, reporting earnings per share of 53 cents, ahead of the five-broker consensus looking for earnings of 50 cents per share. Galileo ended down 6 cents, or 0.3%, to $20.89. IDEC Pharmaceuticals (IDPH Quote) earned 12 cents a share, in line with the 10-broker consensus. IDEC closed down $4.19, or 6.3%, to $62.63. Molecular Devices (MDCC Quote) reported earnings of 25 cents a share, beating the five-analyst consensus of 23 cents a share. Molecular Devices closed up $9.75, or 16.3%, to $69.75. Rohm & Haas (ROH Quote) reported earnings of 32 cents a share, beating the 14-broker consensus looking for 31 cents a share. Rohm & Haas ended the day up $2.61, or 8%, to $35.19. A lot of companies have come through earnings season looking like they'd been kicked in the head -- with an iron boot. But not Stryker (SYK Quote), which wasn't too low, but came in at 33 cents a share, in line with the 19-broker consensus. The medical products maker earned 26 cents a share for the same period a year ago. However, the company got a letter from the Food and Drug Administration today denying the company approval for its implant to treat tibia fractures. Stryker finished off 45 cents, or 0.96%, to $46.50. Tupperware (TUP Quote) is fun to wear! All right, maybe not. The producer of containers to seal those leftover casseroles earned 71 cents a share excluding "re-engineering," which sounds like something genetic and scary, but in reality would cost the company a good chunk of change -- earnings would be 38 cents a share including this charge. Regardless, the four-broker consensus at First Call, excluding charges, was expecting earnings of 70 cents a share, so Tupperware beat estimates by a penny. Tupperware ended the day down $1.25, or 5.6%, to $21.15. United Stationers (USTR Quote) reported earnings of 74 cents a share, missing the five-broker consensus, which was looking for 75 cents a share. At this time a year ago, the company, a distributor of business products, reported earnings of 74 cents a share. United Stationers closed down 19 cents, or 0.7%, to $25.56. Back to top Analyst actions
Delta's (DAL Quote) has had its share of problems lately, fighting a bitter contract battle with its pilots that cost it a healthy chunk of change when the pilots cut their overtime flying, and thus the number of flights Delta can offer. Meanwhile, competitors have been merging, with AMR (AMR Quote), American Airlines' parent, announcing intentions to pick up Trans World Airlines (TWA Quote) and UAL (UAL Quote), United Airlines' parent, snapping up most of U.S. Airways (U Quote). And over the last few weeks, Delta's stock has dropped 15% as investors reacted to the state of the industry, feeling that maybe Delta will be hurt by labor woes and the lack of a merger partner. Well, don't tell that to Merrill Lynch analyst Michael Linenburg. In a note to investors this morning, the analyst wrote that Delta was in pretty good shape with labor, assuming no strike occurs, and the problem fully priced into its low price-to-earnings ratio . He is "cautiously optimistic" that Delta can resolve its pilot problem by the end of spring, with no real labor problems in sight after that, since the rest of its workers are not heavily unionized. Linenburg was very "glass half full" on Delta, even saying that its lack of a merger partner was a benefit, not a detriment. "Contrary to popular belief, this could be the best situation for Delta to be in," he wrote. "Especially given the massive disruption associated with airline mergers and acquisitions. Therefore, at under $46, we think Delta is an attractive contrarian investment and would be buyers of the stock." The skies just got a little friendlier. Delta closed up $1.25, or 2.8%, to $47.13; American Airlines closed up $1.28, or 3.5%, to $38.25 and United Airlines closed up $1.53, or 4.1%, to $38.90. Upgrades Ariba (ARBA Quote): UP to buy from market perform at Lehman Brothers. Ariba closed up 13 cents, or 0.3%, to $38.50. Capital One (COF Quote): UP to long-term buy from long-term attractive at Robertson Stephens. Capital One closed down $2.25, or 3.4%, to $65. Federated Investors (FII Quote): UP to outperform from neutral at Salomon Smith Barney. Federated Investors closed up 32 cents, or 1.1%, to $29.45. PG&E (PCG Quote): UP to hold from sell at Prudential Securities. PG&E closed up $1.13, or 8.1%, to $15.15. Waddell & Reed (WDR Quote): UP to outperform from neutral at Salomon Smith Barney. Waddell & Reed closed up $1, or 2.9%, to $36.01. Downgrades American Eagle (AEOS Quote): DOWN to long-term attractive from long-term buy at Robertson Stephens. American Eagle closed down $2.06, or 3.6%, to $55.81. Bausch & Lomb (BOL Quote): DOWN to market perform from buy at Lehman Brothers. Bausch & Lomb closed down 19 cents, or 0.4%, to $44.89. Dendrite (DRTE Quote): DOWN to hold from accumulate at Prudential Securities. Dendrite closed down $7.13, or 26.2%, to $20.06. H.J. Heinz (HNZ Quote): DOWN to neutral from outperform at Salomon Smith Barney. Heinz closed down 52 cents, or 1.2%, to $43.43. Initiations Argosy Gaming (AGY Quote): NEW buy at Deutsche Bank Alex. Brown; price target: $25. Argosy Gaming closed down 2 cents, or 0.1%, to $21.75. Aztar (AZR Quote): NEW buy at Deutsche Bank Alex. Brown; price target: $15. Aztar closed up 37 cents, or 3.1%, to $12.17. Exelixis (EXEL Quote): NEW buy at J.P. Morgan; price target: $23. Exelixis closed down 38 cents, or 2.4%, to $15.50. Proton Energy (PRTN Quote): NEW strong buy at Lehman Brothers. Proton closed up $1.31, or 9.9%, to $14.63. Research In Motion (RIMM Quote): NEW long-term buy at J.P. Morgan; price target: $85. Research In Motion closed down $4.06, or 5.5%, to $70.44. Back to top Offerings and stock actions
Krispy Kreme (KREM Quote), the warm, gushy, glazed doughnut people, announced a secondary offering to raise more cash. The company's stockholders are putting 2.1 million shares on the block, with Krispy Kreme itself ponying up another 200,000 shares, bringing the grand total to 2.3 million shares. The whole lot will be priced at $67 a share, netting a total $154.1 million. Krispy Kreme ended down 25 cents, or 0.4%, to $67.
After Monday's Close AremisSoft (AREM Quote), which makes software for the construction and health care industries, said it had filed a shelf registration for up to 6 million shares of common stock. AremisSoft finished the day down $1, or 3.8%, to $25.38. Regions Financial (RGBK Quote) filed a shelf registration with the SEC to sell up to $1 billion in debt and equity. Regions closed up 19 cents, or 0.6%, to $29.69. Back to top By the Numbers
| 5 Biggest NYSE Percent Winners |
| Name | Price | Change | % |
| Value City (VCD Quote) | 6.50 |  
1.06 |
19.5% |
| General Cable (BGC Quote) | 9.11 |
1.40 |
18.2% |
| Genesco (GCO Quote) | 25.90 |
3.55 |
15.9% |
| Three-Five (TFS Quote) | 27.11 |
3 |
12.4% |
| K-Mart (KM Quote) | 8.54 |
.94 |
12.4% |
| 5 Biggest NYSE Percent Losers |
| Name | Price | Change | % |
| Panavision (PVI Quote) | 6.35 | 
.71 |
10.1% |
| Houston Exploration (THX Quote) | 35 |
3.90 |
10% |
| Viasystems (VG Quote) | 10 |
1 |
9.1% |
| Sierra Health (SIE Quote) | 5.35 |
.50 |
8.5% |
| Republic Services (RSG Quote) | 14.55 |
1.32 |
8.3% |
| 5 Biggest Nasdaq Percent Losers |
| Name | Price | Change | % |
| Curis (CRIS Quote) | 6.9375 |
6.0625 |
46.6% |
| Dendrite (DRTE Quote) | 20.0625 |
7.125 |
26.2% |
| Spanish Broadcasting (SBSA Quote) | 5.375 |
1.1875 |
18.1% |
| Trimble (TRMB Quote) | 23.4375 |
5.0625 |
17.8% |
| Inforte (INFT Quote) | 15.1875 |
2.3125 |
13.1% |
 |
The data on NYSE and Nasdaq percent winners and losers are filtered to exclude stocks whose previous day's volume was less than 25,000 shares; whose last price was less than 5; and whose net change was less than 1/2. | 5 Biggest Dow Point Winners |
| Name | Price | Change | % |
| Procter & Gamble (PG Quote) | 71.10 |
4.25 |
6.36% |
| 3M (MMM Quote) | 111.40 |
4.11 |
3.83% |
| DuPont (DD Quote) | 43.24 |
2.25 |
5.49% |
| General Electric (GE Quote) | 46.25 |
1.87 |
4.21% |
| ExxonMobil (XOM Quote) | 81.98 |
1.78 |
2.22% |
|
| 5 Biggest Dow Point Losers |
| Name | Price | Change | % |
| Microsoft (MSFT Quote) | 63.375 |
1.4375 |
2.23% |
| Wal-Mart (WMT Quote) | 53.77 |
0.43 |
0.79% |
| Boeing (BA Quote) | 56.15 |
0.31 |
0.55% |
| Intel (INTC Quote) | 37 |
.3125 |
0.84% |
| McDonalds (MCD Quote) | 29.45 |
0.07 |
0.24% |
|
Dow point gain and loss data are based on New York closing prices and do not reflect late composite trading. Back to top
