Energy East Tops Estimates; Sprint PCS Restates Results

Energy East (NEG) posted second-quarter earnings of 39 cents a share, topping both the seven-analyst First Call view of 28 cents and the year-ago 23 cents.

Major Indices INDEX CHANGE % VALUE YR TO DATE Dow 58.26 -0.5% 10,910.96 +18.8% S&P 500 4.03 -0.3% 1356.94 +10.4% Nasdaq 7.97 +0.3% 2692.40 +22.8% Russell 2000 3.11 -0.7% 448.38 +6.3% TSC Internet 1.90 -0.3% 591.85 +45.7% TREASURY BOND CHANGE VALUE YIELD 30-Year 20/32 89 13/32 6.021%

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

Earnings/revenue reports and previews

DQE (DQE) reported second-quarter earnings of 55 cents a share, in line with the seven-analyst outlook and above the year-ago 52 cents.

Harman (HAR) said it sees first-quarter 2000 earnings of 25 cents a share, in line with estimates, and fiscal 2000 earnings of $4 a share, a penny ahead of the five-analyst estimate.

Host Marriott Services (HMS) posted second-quarter earnings of 19 cents a share, a nickel above the three-analyst estimate and above the year-ago 17 cents.

Seacor Smit (CKH) posted second-quarter earnings of 53 cents a share, including special items. The six-analyst forecast called for operating earnings of 85 cents vs. the year-ago $1.58.

Sprint (FON) restated second-quarter results for its PCS Group (PCS) to a loss of $1.21 a share. Yesterday, the company reported a loss of $1.25. Sprint said the updated figure reflects a larger number of weighted average shares outstanding.

U.S. Can (USC) recorded second-quarter earnings of 53 cents a share, beating both the three-analyst estimate of 45 cents and the year-earlier 28 cents.

Offerings and stock actions

Unistar Financial Service (UAI) said it canceled a planned 2-for-1 stock split after the American Stock Exchange suspended trading in its stock and placed it under review.

Miscellany

The Commodity Futures Trading Commission cleared the London International Financial Futures Exchange's request to start placing its electronic trading terminals in the U.S.

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