E-commerce leader Commerce One (CMRC) bounded 7 1/4, or 15.1%, to 55 after it said its first-quarter losses were 9 cents a share, which beat the 19-analyst estimate of a loss of 12 cents for the quarter and matched the year-ago per-share results. Earnings were adjusted for its 2-for-1 stock split, effective today.

For more on Commerce One's

earnings, check out coverage from


joint newsroom.

Fast-food giant


(MCD) - Get Report

bounced 2 3/4, or 8.3%, to 35 13/16 after it posted first-quarter earnings of 33 cents a share, beating the 15-analyst estimate of 32 cents a share, and up from the year-ago 29 cents a share. The company also said added $1 billion to its current stock buyback.

Mergers, acquisitions and joint ventures





(S) - Get Report

said they have agreed to a joint marketing deal to sell Compaq's Presario Internet PCs at Sears stores. According to the terms, Presario would be the only Windows-run desktop PC sold at the retailer, which will make Compaq its feature home-computing PC brand. Compaq declined 1/16 to 27 1/2 and Sears shrugged off 1 1/4 to 38 5/8.

United Parcel Service

(UPS) - Get Report

will announce a major logistics deal with

Compaq Computer


later today. UPS climbed 4 7/16, or 7.5%, to 63 1/2.

Earnings/revenue reports and previews


Earnings estimates from First Call; new highs and lows on a closing basis unless otherwise specified. Earnings reported on a diluted basis unless otherwise specified.



(AAPL) - Get Report

sank 2 1/4 to 118 7/8 after it posted second-quarter earnings of 88 cents a diluted share, beating the 19-analyst estimate of 81 cents and up from the year-ago 84 cents, which includes items. Revenue rose 27% to $1.94 billion from $1.53 billion and gross margins rose 28.2%, up from 26.3% a year ago. The company also set a 2-for-1 stock split.

For more on Apple's

earnings, check out coverage from


joint newsroom.



advanced 9/16 to 50 1/16 after it posted first-quarter earnings of 52 cents a share, a penny better than the 15-analyst estimate and up from the year-ago 32-cent profit, which included a loss.

Bristol-Myers Squibb

(BMY) - Get Report

stumbled 1 1/4 to 49 11/16 after it reported first-quarter earnings of 61 cents a share, a penny better than the 19-analyst estimate and up from the year-ago 53 cents.

This morning

Credit Suisse First Boston

slashed its rating on Bristol-Myers Squibb to hold from buy and


cut it to neutral from attractive.

Yesterday, the nation's No. 3 drugmaker announced it had withdrawn a new hypertension treatment, Vanlev, after several patients required breathing tubes after using the drug.

Power company

Central & South West


skidded 1/4 to 19 13/16 after it reported first-quarter earnings of 18 cents a share, below the 4-analyst consensus estimate of 20 cents a share and the year-ago figure of 21 cents.

Continental Airlines

(CAL) - Get Report

lost 1 1/4 to 39 1/8 after it posted first-quarter earnings of 14 cents a share, 14 cents ahead of the 11-analyst estimate and down from the year-ago 77 cents.


(ATHM) - Get Report

fell 2, or 10%, to 17 15/16 after it reported a first-quarter pro forma loss of 1 cent a share, short of Wall Street's expectations that it would break even but narrower than the year-earlier pro forma loss of 2 cents a share. The Internet service company posted a net loss of $676.5 million, or $1.75 a share, compared with a loss of $18.1 million, or 8 cents a share, in the 1999 quarter. Revenue rose 75% in the latest quarter to $138 million, from $78.7 million a year earlier. The company said the number of new subscribers had more than tripled, to 1.5 million.

Warburg Dillon Read

lifted its rating to strong buy from buy due to growth in the company's broadband.

Outback Steakhouse


shed 1 9/16, or 5.3%, to 27 7/8 after it reported first-quarter earnings of 45 cents a share vs. a 13-analyst consensus estimate of 44 cents and far above the year-ago figure of 37 cents.

PPG Industries

(PPG) - Get Report

, which provides automotive finishes, bounced 2 3/8 to 53 after it said it should expect a record year with strong sales and earnings if world economic conditions remain good, according to CEO Raymond LeBoeuf.

SmithKline Beecham

(SBH) - Get Report

added 13/16 to 68 3/16 after it posted first-quarter earnings of 55.5 cents per ADR, 1.5 cents ahead of the four-analyst estimate and up from the year-ago 49 cents.

Wausau-Mosinee Paper


declined 5/8, or 5.3%, to 11 1/16 after it posted first-quarter earnings11 cents a share, in line with the three-analyst estimate but down from the year-ago 24 cents.

Offerings and stock actions

Global media publisher

Harcourt General

(H) - Get Report

lost 3/4 to 35 11/16 after it announced it had agreed to sell $50 million of its common stock to

Salomon Smith Barney

at 36 7/16 per share to pay down existing debt.

Texas Instruments

(TXN) - Get Report

popped 2 to 145 after it set a 2-for-1 stock split.

Analyst actions



: UP to buy from attractive at


; 12-month price target: $230. PaineWebber said that a recent price drop plus accelerated growth reported in the March 2000 quarter make it a good investment opportunity. Broadcom gained 10 1/4, or 7.2%, to 152 1/2.



(AAPL) - Get Report

: price target UP to 160-155 from 125-130 at

Bear Stearns

. Apple fell 2 1/4 to 118 7/8.


(IR) - Get Report

: UP to buy from outperform at

Lehman Brothers

; price target: 57. Ingersoll-Rand bounced 2 13/16, or 6.8%, to 44 1/16.

Rational Software


: price target UP to 137 from 71 at CSFB. Rational Software jumped 8 5/8, or 12.7%, to 76 3/8.

Rohm & Haas


: UP to buy from market perform at

Donaldson Lufkin & Jenrette

. Rohm & Haas skidded 3/8 to 35 3/8.

Offshore and land contract driller

Santa Fe International

(SDC) - Get Report

UP to buy from market performance at DLJ. Santa Fe reported lower first-quarter profits yesterday. Santa Fe added 3/8 to 31.

TransWorld Air


: UP to market perform from underperform at

Goldman Sachs

. TransWorld Air popped 1/4, or 13/3%, to 2 1/8.


(TG) - Get Report

: UP to purchase list from market outperformer at Goldman Sachs. Tredegar hopped 1 1/8 to 25.


(VRTS) - Get Report

: UP to strong buy from buy at

Banc of America

; UP to strong buy from accumulate at Prudential Securities. Veritas slipped 5 3/16 to 100.



: UP to strong buy from buy at CSFB; price target: 90. Vignette sank 7 13/16, or 12.9%, to 52 3/4.


Hannaford Bros


DOWN to market performance from buy at DLJ. Hannaford Bros. declined 5/16 to 72 7/16.


(SYMC) - Get Report

: DOWN to buy from strong buy at Banc of America Securities. Symantec skidded 7 9/16, or 11.2%, to 59 1/2.

Universal Foods


DOWN to market performance from buy at DLJ. Universal Foods stumbled 1 1/8, or 5.9%, to 17 11/16.


(MRO) - Get Report

: DOWN to market perform from buy at DLJ. USX-Marathon fell 1 3/4, or 6.8%, to 23 11/16.


Internet Capital Group


: NEW strong buy at Credit Suisse First Boston. Internet Capital lifted 2 7/8, or 7%, to 43 3/4.


Baron Capital

may be trying to make changes to


(BID) - Get Report

board, reported

The Wall Street Journal

. Baron, which is one of Sotheby's biggest shareholders, has retained

Wasserstein Perella

to act as its advisor. Sotheby's lost 5/16 to 16 1/4.


(PRGO) - Get Report

was off 1/32 TO 6 29/32 after it said it tapped former


executive David T. Gibbons as its new president and CEO.