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Earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified. New highs and lows on a closing basis unless otherwise specified.


Shares of IPO


popped 12 3/16, or 93.8%, to 25 1/8. The Internet superstore sells everything from books and golf clubs to computers. The stock rose as high as 30, but enthusiasm was somewhat tempered by news that's site was severely slowed down for three hours due to a "denial of service" attack. The same type of hacker assault shut down



site yesterday.

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Speaking of slowdowns,



hoofed it down 8 3/4, or 19.3%, to 36 1/2 after it warned investors that its fiscal 2000 earnings could fall slightly below the 17-analyst estimate of $2.08. The company also said it could have softer sales growth for U.S. footwear in 2001. Nike also cited the U.S. dollar strength against the Euro as a potential source of gross margin pressures.

Banc of America Securities

cut Nike to buy from strong buy, while

Merrill Lynch

dropped it to near-term accumulate from buy.

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Mergers, acquisitions and joint ventures

BHC Communications


rose 2 3/8 to 160 after it said it sued to block the proposed merger of






, saying it violates BHC's


network joint venture with Viacom. Viacom gained 3 1/8, or 5.2%, to 63 and CBS climbed 2 15/16 to 65 15/16.

Brocade Communications


jumped 9 to 190 1/16 after it said that



would use Brocade's Silkworm switches in its data storage networks project. Hewlett-Packard lost 4 5/8 to 123 7/8.



climbed 4 3/4 to 125 after it said it would receive a 5.4% interest in

Kana Communications


due to Kana's $4.2 billion purchase of CMGI's minority investment in



. Kana dropped 8 7/8 to 231 1/4 and Silknet rose 7/8 to 178 5/8.

Computer Sciences


slipped 5/16 to 89 11/16 despite announcing it signed a 6 1/2 year contract with the

Air Force

worth up to $425 million.



lost 7/16 to 25 3/4 after it said it entered a deal to sell its Wavepacer digital subscriber product line assets to

ECI Telecom


. ECI Telecom lost 15/16 to 27 3/8.


fell 2 3/4 to 136 after it said it has agreed to purchase Britain-based

Paragon Software

in a deal valued at $500 million. According to the terms, Paragon shareholders would receive roughly 3.6 million shares of and $7.5 million in cash.



soared 24 1/2, or 24.8%, to 125 1/2 amid a flurry of news announcements, including an $802 million plan to move its core business to the Internet, a board shake-up and a 9% rise in 1999 pretax profit. The company also unveiled plans for a new consumer finance portal and joint venture portal aimed at European private investors. An IPO for the group's U.S.-based electronic brokerage unit, Instinet, is also under consideration. In addition, CEO Peter Job said Instinet had agreed with

W.R. Hambrecht

to extend an IPO auction service to Europe.

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lost 7/8 to 68 3/4 and

SBC Communications


rose 7/16 to 42 5/16 after the companies said they would invest $150 million in

Network Access Solutions


. In exchange, Network Access would offer its services to Telmex and SBC users.

Earnings/revenue reports and previews



dropped 9 3/4, or 17.5%, to 46 after it posted fourth-quarter earnings of $1.18 a share. The report edged out the 18-analyst estimate of $1.10, but some Wall Street analysts are punishing the stock on concerns that capital gains pushed the report past the consensus number.

Goldman Sachs

sliced its rating on the stock to market performer from market outperformer.

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bounced 6 5/16, or 5.8%, to 123 5/8 after it posted fourth-quarter earnings of 31 cents a share, a penny better than the four-analyst estimate and up from the year-ago 27-cent profit.

Lincare Holdings


lost 5 5/16, or 14.3%, to 31 1/2 after it posted fourth-quarter earnings of 47 cents a share, in line with the six-analyst estimate and up from the year-ago 40 cents.

Navigant International


posted fourth-quarter earnings of 10 cents a share, in line with the two-analyst estimate and up from the year-ago loss of 5 cents.



dropped 5 11/16, or 65.5%, to 7 15/16 after it reported fourth-quarter earnings of 18 cents a share, missing the eight-analyst estimate of 19 cents and down from the year-ago 41 cents.



slipped 1/8 to 26 after it reported fourth-quarter earnings of 81 cents a share, beating the nine-analyst estimate of 78 cents, but down from the year-ago 84 cents. The company said 2000 earnings could be flat with 1999 levels, citing investments in systems and technology as well as marketing and cost reduction expenses.

Offerings and stock actions

Citadel Communications


lost 3 3/16, or 5.9%, to 51 1/2 after it said it would offer 4.75 million shares of its common stock at $51.50 per share.

Credit Suisse First Boston

upped the stock to strong buy from buy.



finished the day with 4 1/4, or 35.9% gain to 16 5/8 in its trading debut.

ING Barings

priced 4 million-shares at $12 each.

Network Solutions


rose 2 5/8 to 251 1/2 after it set a 7.73 million-share secondary offering at $247 a share.

Analyst actions

Deutsche Banc Alex. Brown

initiated coverage of


with a strong buy rating. Shares bounced up 3 13/16, or 5.6%, to 73 15/16.


raised its price target on



to 115 from 90. Alkermes hopped 12 9/16, or 13.3%, to 111.

Deutsche Banc Alex. Brown downgraded

America Online


to buy from strong buy. AOL rose 2 to 59 despite the news.

Credit Suisse First Boston

reinstated coverage of



with a buy rating and a price target of 50. Atmel lost 3/4 to 39 1/2.

Goldman Sachs

initiated coverage of

BP Amoco


on its European recommended list. Shares lost 3/8 to 48 1/8.

Salomon Smith Barney

raised its fiscal 2000 EPS estimates on

Cox Radio


to $2.38 from $2.30 a share and upped its price target to 100 from 80. Shares gained 3 1/2 to 89.

Warburg Dillon Read

sliced its rating on



to hold from buy. Dell lost 11/16 to 37 1/16.

CSFB reinstated coverage of

Efficient Networks


with a buy rating and a price target of 130. Efficient rose 4 5/8, or 4.7% to 103.

Merrill Lynch reinstated coverage of



intermediate-term accumulate, long-term buy. Equant lost 1 3/8 to 121 5/8.

Warburg Dillon Read

upped its rating on



to buy from hold. Elan rose 4 1/16, or 12.8%, to 35 3/4.

Warburg Dillon Read rolled out coverage of



with a buy rating and set a price target of 23. Fogdog slipped 1/4 to 11 15/16.

Merrill Lynch rolled out coverage of

Inhale Therapeutic


with a intermediate, long-term buy rating. Inhale popped 7 5/16, or 9.9%, to 81 1/2.

Warburg Dillon Read initiated coverage of

Orthodontic Centers


with a strong buy rating. Shares gained 3/16 to 17 1/8.

CSFB analyst Wendell Laidley said he feels that

Portal Software


will post fourth-quarter earnings that surpass his 4 cent estimate. Portal popped 13, or 23.1%, to 68 9/16.

Salomon Smith Barney upgraded



to buy from outperform. Shares rose 15/16 to 33 5/16.

J.P. Morgan

started coverage of

Red Hat


with a long buy rating. Red Hat rose 1 3/4 to 90 3/8.

Goldman rolled out coverage of



on its recommended list. TotalFina tacked on 3 1/2, or 5.3%, to 70.

Salomon Smith Barney upgraded

Willamette Industries


to outperform from neutral. Shares gained 1 3/16 to 37 7/8.

Donaldson Lufkin & Jenrette

rolled out coverage of



with a buy rating. Veritas rose 9/16 to 16 5/8.


Bank of New York


rose 1 1/16 to 39 5/16 after it said it ended a probe of the laundering of $7 billion, allegedly moved illegally out of Russia, by agreeing today that it would make periodic reports on its money-transfer activity to U.S. banking regulators. The agreement, which did not call for any fines to be levied against the bank, was signed by the company, the

Federal Reserve Bank of New York

and the

New York State Banking Department




lost 3/4 to 78 5/16 despite CEO David O'Reilly's statement that the company will grow earnings per share by 15% annually for the next three years assuming constant oil prices. O'Reilly also outlined cost-cutting goals.

Cooper Tire & Rubber


fell 3/8 to 12 5/16 after it said it will explore strategic options for its plastic division. The company said CEO and Chairman Patrick Rooney will retire June 3. President Thomas Dattilo will succeed Rooney.


dropped its auction commissions, sparking a possible price war with rival




The Wall Street Journal

reported. According to the


, Christie's decision to cut the commissions would make art more expensive to buy and cheaper to sell. Shares of Sotheby's rose 3/16 to 19 15/16.

U.S. tobacco companies rejected as nonsense and without merit claims in a federal lawsuit filed by cigarette wholesalers and distributors alleging the industry fixed prices.

Philip Morris



R.J. Reynolds



British American Tobacco



Brown & Williamson





Lorillard Tobacco


Brooke Group




were named as defendants. An RJR spokesman said there is no basis for the lawsuit. Philip Morris lost 1 1/16, or 5.2%, to a five-year low of 19 1/2; R.J. Reynolds fell 3/8 to 18 1/4; British American Tobacco slipped 3/4, or 8.1%, to 8 1/2; Loews skidded 4 3/16, or 7.4%, to 52 13/16; and Brooke fell 11/16 to 15 7/8.

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Corrections and Clarifications.