(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.)
Market newcomers were among the few stocks that escaped today's heavy selling pressure.
hopped 31 3/4, or 186.7%, to 48 3/4. The company's services direct Internet users to traditional brick and mortar outlets for more than 250 clients.
, a software provider that helps online businesses use email and the Internet to interact with customers, soared 32 1/2, or 180.5%, to 50 1/2.
Gold-mining stocks also showed some mettle, with the
Philadelphia Stock Exchange Gold and Silver Index
lifting 6.2%. News that supply reductions could be on the way helped lift
1 1/16, or 11.3%, to 10 1/2, while
gained 1 3/16, or 6.9%, to 18 7/16.
posted pro forma earnings after yesterday's close of 25 cents a share, a penny ahead of the 34-analyst estimate and up from the year-ago 17 cents. The company also set a 2-for-1 stock split. Cisco cited strength in its end-to-end Internet solutions for each of its key markets. (For more details on Cisco's
earnings, see a separate story from the
Credit Suisse First Boston
upped its six- to 12-month price target for Cisco to 160 a share. First Boston also said the company could become the first trillion-dollar market cap company.
boosted its price target on the stock to 220 from 135. Shares of Cisco edged up 2 1/2 to 128 13/16.
fell 15/16 to 47 3/16 and
rose 3/8 to 59 15/16 after they said Cisco will take an equity stake in their AutoXchange business-to-business supplier network. Cisco rose 3 to 128 13/16.
Mergers, acquisitions and joint ventures
gained 11/16 to 38 5/16 after it said it would let
International Specialty Products
review its operation as part of due diligence but said that it has Dexter has not been put on the auctioning block. Dexter turned down ISP's $45 a share offer calling it financially inadequate. Shares of International Specialty lost 1/4 to 7 1/4.
television network, along with its Web unit
, said they plan to take interests in health Web site
. The three companies would pay an undisclosed amount of cash and offer advertising through NBC media outlets in exchange for minority stakes in Selfcare.com. GE lost 2 13/16 to 134 1/4, NBCi lost 2 3/8 to 70 5/16 and ValueVision inched up 3/16 to 39 7/8.
hopped 4 1/4, or 6.2%, to 72 1/2 after it said it has entered a licensing deal with
that involves a meningitis vaccine. SmithKline slipped 1/8 to 55 7/8.
dropped 5 15/16, or 5.4%, to 104 after
competition chief Mario Monti said it has started a probe into the possibility that Windows 2000 infringes on the EU's antitrust law. Microsoft said the EU's investigation would not block the launch of Windows 2000, which is set for release next week.
Separately, Microsoft and
entered a pact to help companies develop e-business. According to KPMG, the consulting venture would be called the
practice and would involve Windows 2000.
dropped 4 1/8 to 201 7/8 after it said it, along with its partners
, would roll out a new way to access e-commerce Web sites with Internet-compatible WAP mobile phones in 2000. Hewlett-Packard lost 3/16 to 124 and IBM dropped 1 7/16 to 117 3/8.
Separately, IBM is set to launch its new Deep Blue computer that contains copper-chip technology.
gained 3/4 to 121 3/4 after it said it would acquire privately held Internet consulting firm
for as much as $64.5 million in cash.
fell 3/8 to 13 15/16 after it denied newspaper reports that it would sell a 10% interest in new Internet division PT Multimedia to Brazil-based
, calling it "unfounded."
U.S. hedge fund
said that it backs
Royal Bank of Scotland's
takeover offer for
National Westminster Bank
, also known as NatWest. Tiger, which holds a 1% stake in NatWest, joined its three largest shareholders in favoring the $35.5 billion takeover bid. NatWest popped 5 7/8, or 5.4%, to 114 3/4.
Earnings/revenue reports and previews
lost 5/8 to 52 3/4 after it reported fourth-quarter earnings of 22 cents a share, edging out the 20-analyst estimate of 20 cents and up from the year-ago 13 cents.
lost 5/8 to 19 15/16 after it posted fourth-quarter earnings of 30 cents a share, in line with the 19-analyst estimate and up from the year-ago 24 cents.
climbed 3/8 to 58 7/16 after its founder said the company should be profitable by 2001.
Time Warner Telecom
popped 11 1/4, or 18.1%, to 73 3/8 after it reported a fourth-quarter loss of 2 cents, narrower than both the four-analyst estimate of a 15-cent loss and the year-ago 30-cent loss.
In other earnings news:
Offerings and stock actions
popped 17 13/16, or 11.7%, to 170 1/16 after it set a 3-for-1 stock split.
jumped 5 15/16, or 59.4%, to 15 15/16 in its trading debut. The company provides Internet-based and other electronic medical management solutions to healthcare payers and providers.
lost 1/16 to 16 after it set a $75 million repurchasing program.
Credit Suisse First Boston upped its rating on
to strong buy from buy. Shares of Aspect Development shot up 20 7/8, or 21.6%, to 118 5/8.
Credit Suisse First Boston launched coverage on
with a buy rating.
also initiated coverage on the stock with an outperform rating and a 43 12-month price target. Shares of ACTV slid 2 1/8, or 5.7%, to 35 1/4.
Salomon Smith Barney
to neutral. Shares of Allstate fell 2 1/8, or 9.6%, to 19 7/8.
Banc of America Securities
raised its price target on
Applied Micro Circuits
to 400. Shares of Applied Micro Circuits jumped 5 5/8 to 222 1/8.
First Boston upgraded
to strong buy from buy. Shares of Aspect Development soared 20 7/8, or 21.6%, to 118 5/8.
PaineWebber sliced its fiscal 2000 estimates on
to $1.15 a share from $1.20. Shares of Boston Scientific added 2, or 10.3%, to 21 1/4.
to strong buy from buy. Shares of Citadel Communications tumbled 1 3/16 to 50 5/16.
launched coverage of
with an outperform rating. Shares of E.piphany tacked on 1/4 to 162.
Banc of America
raised its rating on
to buy from market perform. Shares of FSI International lost 2 7/8, or 16%, to 18 9/16.
First Boston initiated coverage on
with buy ratings and
with a hold rating.
Shares of Felcor Lodging mounted 9/16 to 18 1/2 and Meristar was unchanged at 15 15/16, while Host Marriott was unchanged at 9 7/16.
target price to 145 from 130. Shares of Hewlett-Packard gained 13/16 to 125.
Morgan Stanley downgraded
to outperform from strong buy. Shares of Nike shed 3 3/4, or 10.1%, to 33 1/4.
Donaldson Lufkin & Jenrette
to buy from market performer. As noted in the earnings table above, shares of PepsiCo climbed 11/16 to 34.
to buy from neutral and raised its price target to 55. Shares of Qwest Communications moved up 1/4 to 45 1/4.
First Boston initiated coverage on
with a buy rating. Shares of Spectrasite Communications declined 5 1/4, or 25.9%, to 19 7/8.
tech analyst Andy Neff upped his earnings estimate for
to $1.20 from $1.10 per share for the first quarter of fiscal 2001. Shares of Sun Microsystems hopped 4 1/2, or 5.1%, to 91 9/16.
Transport Corp. of America
to hold from outperform. Shares of Transport Corp. of America stumbled 6, or 39.3%, to 9 7/16.
Deutsche Banc Alex. Brown
initiated coverage on
with a buy rating and a 70 price target. Shares of Vitesse Semiconductor jumped 4 3/4, or 9.5%, to 55 13/16.
Warburg Dillon Read
rolled out coverage of
with a buy rating and a price target of 53. Shares of Willamette skidded 13/16 to 37 1/16.
sliced its rating on
to market performer from market outperformer.
declined 1 1/4, or 5.4%, to 21 7/8 after it said that it is the latest company to experience problems with its online services due to hacking. After yesterday's close,
said that a hack attack had shut down its site after prompting "denial of service" problems.
had a similar type of attack during its trading debut yesterday, while
dealt with problems linked to hacker activity on Monday. Shares of Buy.com today bounced 2 1/2, or 10.7%, to 27 1/2 and Yahoo skidded 11 9/16 to 362 5/16.
will see patents for five of its biggest drugs expire within the next two years, but the company said its earnings will remain "competitive,"
The Wall Street Journal
reported. Merck was unchanged at 20 3/8.