Friday's Company Report: BEAM, LU, DVN, ODP, FMO, SDL, ESPD

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M&A Earnings/revenue Analyst actions Offerings/stock actions Miscellany

Microsoft (MSFT Quote) announced that it will delay its highly anticipated strategy announcement scheduled for next week until June 22, because of concerns it will be overshadowed by an expected court decree in the U.S. government's antitrust case against the software giant. The postponed event, called Forum 2000, will spotlight Microsoft's Next Generations Windows Services, the company's new strategy for combining its software with the Internet.

Earlier, the Justice Department refiled its plan to break Microsoft into two, including technical suggestions from Judge Thomas Penfield Jackson. A ruling in the landmark antitrust case could be handed down as early as next week. The revised order resembles the plan filed last month and could force the eventual break-up of Microsoft. Shares of Mister Softee finished down 1/16 to 61 7/16.

For more on the Microsoft update, see coverage from TheStreet.com/NYTimes.com joint newsroom.

Mergers, acquisitions and joint ventures

The Justice Department said it gave its approval for AT&T(T Quote) to acquire MediaOne Group, citing the divestiture of MediaOne's stake in Web access provider Road Runner as the only stipulation. AT&T already holds a controlling stake in Excite@Home(ATHM Quote), the biggest Internet access provider. The merger must still receive Federal Communications Commission approval. AT&T lifted 5/16 to 34 1/4, while Excite@Home slipped 13/16 to 17 11/16. ...