CompUSA Reports Disappointing Sales; Young & Rubicam to Join S&P 500

CompUSA (CPU Quote) said second-quarter net sales fell 21% to $1.38 billion from $1.75 billion, while same-store sales fell 1.8% from a year ago. The company said a less promotional approach to selling computers hurt sales for the quarter ended Dec. 25, though CompUSA expects to report that profit margins set a new high of 16% as the company broadened its product assortment beyond personal computers. CompUSA said it plans to announce second-quarter operating results Feb. 2.

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Standard & Poor's said it will add Young & Rubicam (YNR Quote) to the S&P 500 after the close of trading next Wednesday. S&P said the advertising agency will take the place of General Instrument (GIC Quote), which is being acquired by Motorola (MOT Quote).

Additionally, F.Y.I. (FYII Quote) will replace T J International (TJCO Quote) in the S&P SmallCap 600 index. Weyerhaeuser (WY Quote) is buying T J in a transaction expected to close next Wednesday.

After-Hours Trading

Forget about Nasdaq 4000. Try Qualcomm (QCOM Quote) 4,000!

Super Q continued its heroic flight, tacking on huge gains in after-hours trading to the mammoth day-session gain of 156, or 31%, to 659. Today, PaineWebber analyst Walter Piecyk initiated coverage of Qualcomm and set a 12-month price target of 1,000 on the stock. The analyst also started coverage with a buy rating. Qualcomm closed amid huge strength, hitting a 52-week high of 662 1/16 just before the bell tolled.

TheStreet.com has the lowdown on Qualcomm options and a revealing look at Piecyk's call.

10 most active stocks on Island ECN (8 p.m. EST)
Company	Price	Change	Session Volume
CityView Energy (CVCL Quote)	11/16	+1/4	1,227,956
Quintel Communications (QTEL Quote)	9 1/16	+2 3/8	639,526
USABancShares.com (USAB Quote)	11 5/8	-11/16	354,420
Qualcomm (QCOM Quote)	705 1/2	+49	249,488
Vista Eyecare (VSTA Quote)	1	+1/4	197,438
Conolog (CNLG Quote)	15/16	+11/32	167,400
CyberSource (CYBS Quote)	56	+10 3/8	115,992
Egghead.com (EGGS Quote)	16 9/16	+9/16	96,396
E*Trade (EGRP Quote)	30 1/8	+1 5/8	81,378
Elcom International (ELCO Quote)	34 9/32	-1 9/32	77,194

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10 most active stocks on MarketXT (8 p.m. EST)
Company	Price	Change	Session Volume
Qualcomm (QCOM Quote)	709	+50	3,100
America Online (AOL Quote)	77 1/2	-1/2	2,100
Egghead.com (EGGS Quote)	16	+1/8	1,100
E*Trade (EGRP Quote)	31	+2 1/2	1,100
Qiao Xing Universal Telecom (XING Quote)	23	+1	1,000
Knight/Trimark (NITE Quote)	49	0	500
Elcom International (ELCO Quote)	35 5/8	0	500
Home Depot (HD Quote)	101	+1/8	500
Commerce One (CMRC Quote)	217 1/2	+7 9/16	350
Amazon.com (AMZN Quote)	83 1/8	-3/8	350

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-- Eric Gillin

Major Indices INDEX CHANGE % VALUE YR TO DATE Dow 7.95 +0.1% 11,484.66 +25.1% S&P 500 5.80 +0.4% 1463.46 +19.1% Nasdaq 69.35 +1.7% 4041.46 +84.3% Russell 2000 8.53 +1.8% 497.01 +17.8% TSC Internet 40.25 +3.6% 1162.22 +186% TSC Red Hots 30.05 +7% 462.68 N/A BOND CHANGE PRICE YIELD 30-Year Treasury 13/32 95 25/32 6.445%

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

Earnings/revenue reports and previews

Bio-Technology General (BTGC Quote) warned it sees 1999 earnings-per-share falling 8 cents to 11 cents below year-ago earnings of 36 cents. The current two-analyst estimate for 1999 calls for earnings of 38 cents a share. The company said Olsten Health Services, the distributor of its drug Oxandrin, bought less of the drug than expected.

Caribiner International (CWC Quote) posted a fourth-quarter loss of $1.61 a share including charges, wider than the year-ago loss of 37 cents, also on charges. The two-analyst expectation was for a loss of 24 cents. No per-share figures from operating income were released.

National Equipment Services (NSV Quote) said it sees fourth-quarter earnings 15% to 25% below year-ago earnings of 20 cents a share, citing weakness in the Gulf Coast market. The five-analyst estimate calls for earnings of 25 cents. The company said it still expects to report record sales and net income for 1999 and also said it approved a 1.5-million share increase to its previously announced repurchase plan.

Pantry (PTRY Quote) said it restated its third quarter and 1999 results to include a $1.5 million charge from the redemption of preferred stock . Diluted earnings-per-share for the quarter fell to 18 cents from 28 cents, while earnings for the year fell to 65 cents from 75 cents.

ZipLink (ZIPL Quote) said it expects its fourth-quarter loss to be lower than expected due to smaller telecommunication and operating costs. The three-analyst estimate calls for a loss of 34 cents.

Offerings and stock actions

Jacobs Engineering (JEC Quote) said it was reactivating its previously approved 3-million share stock buyback plan which was suspended during a merger with Sverdrup in 1998.

Titan Software's (TTN Quote) Cayenta unit said it filed a registration statement with the Securities and Exchange Commission for a proposed public stock offering. The company said Credit Suisse First Boston, Donaldson Lufkin & Jenrette and A.G. Edwards will manage the offering.

Miscellany

Fruit of the Loom (FTL Quote) filed for Chapter 11 bankruptcy protection. The company, which makes BVD, Fruit of the Loom and Gitano, has struggled with manufacturing and inventory problems. In the first half of the year, sales and profits were hurt by shipping difficulties.

ISB (ISBF Quote) said it plans to cut 32 jobs as part of a restructuring. ISB said the restructuring will result in a fourth-quarter pretax charge of $1.3 million which will cut earnings-per-share by 14 cents. The company also said a provisional expense would cut fourth-quarter EPS by an additional 17 cents, bringing the net effect on shares to a total of about 28 cents.

West Coast Bancorp (WCBO Quote) said it named Robert Sznewajs as president and CEO. Sznewajs was previously vice chairman of U.S. Bancorp (USB Quote)