Lernout & Hauspie (LHSP) lifted 17, or 15.6%, to 125 3/4 after it said it will acquire privately held speech and language technology firm Dragon Systems for 5.45 million shares. Based in Newton, Mass., Dragon employs 350 workers, including 170 research scientists and development engineers. It had revenue of about $60 million and a net loss of about $22 million in 1999.

United Airlines

parent

UAL

(UAL) - Get Report

rose 2 5/16 to 59 5/16, to end the trading session on the upside after it said last night its first-quarter earnings would surpass the top end of its earlier expectations, 80 cents to $1.20 a share. The company said it sees EPS coming in between $1.25 and $1.40 a share. The 11-analyst estimate expects the company to report earnings of 98 cents a share. UAL reiterated its fiscal 2000 earnings forecast of $7 to $9 a share and attributed its anticipated 6.25% to 7% total revenue growth to robust passenger demand and higher fares.

The positive forecast gave other

Dow Jones Transportation Average

components a lift, with

Delta

(DAL) - Get Report

,

USAir

(U) - Get Report

and

AMR

(AMR)

finishing in the green. The Transportation average rose 13.16, or 0.5%, to 2680.97.

Mergers, acquisitions and joint ventures

Deutsche Bank

said it agreed to a far-reaching e-commerce and financial services cooperation with online broker

National Discount Brokers

(NDB)

. Deutsche also said it will pay $135.93 million for a 14.6% stake in NDB. The agreement gives Deutsche access to NDB's online clients, allowing it to place shares of IPOs via the NDB distribution network. American clients will also gain access to Deutsche Bank's equities research. National Discount Brokers added 2 to 56 1/2.

Efficient Networks

(EFNT)

shed 13 9/16, or 7.9%, to 158 after saying it will acquire

Netscreen Technologies

in a stock deal worth $905 million. Efficient said Netscreen shareholders will own about 8% of the company.

Macrovision

(MVSN)

moved up 2 to 78 7/8 after it said it will buy the privately held

GLOBEtrotter

B2B copyright company for 11.2 million shares, valued at about $800 million.

Philips

(PHG) - Get Report

and

One Voice

announced a global strategic alliance. Philips rose 3 1/4 to 185 1/16.

Rare Medium

(RRRR)

slipped 7/16 to 57 5/8 after it announced a strategic alliance with

IBM

(IBM) - Get Report

to work together on Web development and integration, venture capital strategy and the development of e-business incubators. IBM fell 4 1/2 to 122 3/8.

TXU Europe

(TXU)

fell 15/16 to 29 1/4 after it said it withdrew its cash offer for Spain's electricity utility

Hydroelectrica del Cantabrica

.

24/7 Media

(TFSM)

lost 1 1/4 to 47 after it said it has a marketing pact with

EarthLink

(ELNK)

, under which it will manage marketing services for EarthLink. EarthLink lost 3/8 to 20 15/16.

Vitesse Semiconductor

(VTSS)

rose 8 3/8, or 8.7%, to 104 5/16 after it said it entered a $450 stock deal to acquire

Orologic

.

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.

)

American Greetings

(AM) - Get Report

fell 7/8, or 5.1%, to 16 7/16 despite posting fourth-quarter earnings of 87 cents a share, beating the three-analyst estimate of 84 cents and up from the year-ago 82-cent profit.

Apollo Group

(APOL)

added 1 13/16, or 7.4%, to 26 5/16 after it posted earnings of 16 cents a share, a penny better than the 18-analyst estimate and up from the year-ago 13 cents. The company also authorized an additional $50 million increase in its stock buyback program, bringing the total to $150 million.

Arrow Electronics

(ARW) - Get Report

added 4 7/8, or 15.2%, to 37 after it announced that it expects first-quarter earnings to be well ahead of analysts' expectations and close to double the year-ago 30 cents per share. The current six-analyst estimate calls for earnings of 50 cents a share.

Autobytel

(ABTL)

edged up 9/16, or 6.7%, to 8 15/16 after it said it topped $3.4 billion in online car sales in the first quarter.

Hillenbrand Industries

(HB)

climbed 9/16 to 31 15/16 after it reported first-quarter earnings of 55 cents a share, in line with the four-analyst estimate but lower than the year-ago 67 cents.

Comdisco

(CDO)

gained 1 15/16 to 52 3/4 after it said it would post second-quarter earnings of roughly 40 cents a share, excluding losses from its Prism division. The seven-analyst estimate sees the company reporting a 29-cent profit.

International Multifoods

(IMC)

gained 11/16, or 6%, to 12 1/16 after it posted fiscal 2000 earnings of $1.31 a share, in line with the five-analyst estimate but down from the year-ago $1.35. The company also posted fourth-quarter earnings of 37 cents a share, even with the five-analyst estimate and the year-ago report.

Offerings and stock actions

Deutsche Banc Alex. Brown

priced a 7.5 million-share IPO for

IntraBiotics Pharmaceuticals

(IBPI)

at the top of its $13-to-$15 range, at $15 a share. IntraBiotics added 3/4, or 5%, to 15 3/4.

Chase H&Q

said it priced a 4 million-share IPO for

Websense

(WBSN)

above its expected $14-to-$16 price range, at $18 a share. Websense jumped 29 3/4, or 165.2%, to 47 3/4.

Hasbro

(HAS) - Get Report

said 18 million shares were tendered in its Dutch auction tender offer. Hasbro gained 1/8 to 17.

Maximus Services

(MMS) - Get Report

said it would rescind its 1.5 million-share buyback program, citing a possible acquisition under consideration. Maximus Services tacked on 3/8 to 34 7/16.

Southdown

(SDW)

edged up 6, or 11%, to 60 1/4 after it said it is considering several option to enhance shareholder value, including a share buyback or expansion, sale or merger of the company.

TJX

(TJX) - Get Report

gained 3/8 to 21 1/16 after it said it will buy back an additional $1 billion of its shares, which represents 16% of its stock at the current price.

Analyst actions

Atmos Energy

(ATO) - Get Report

: 2000 and 2001 EPS estimates DOWN at

PaineWebber

. Atmos Energy declined 3/8 to 16 7/8.

Bed Bath & Beyond

(BBBY) - Get Report

: NEW buy at

Lehman Brothers

; price target: 44. Bed Bath & Beyond lifted 1 5/16 to 31 3/4.

Calpine

(CPN)

: 2000 earnings estimate UP to $2.30 from $2.00; 2001 earnings estimate UP to $2.75 from $2.30 at

Goldman Sachs

. Calpine advanced 4 1/16, or 5%, to 85 1/16.

Catellus

(CDX)

: UP to near-term buy from near-term accumulate at

Merrill Lynch

. Catellus advanced 5/16 to 13 3/4.

Chevron

(CHV)

: BUY from hold with a price target of 100 at

CIBC World Markets

. Chevron tacked on 1/16 to 84 5/8.

Cost Plus

(CPWM)

: NEW outperform at

Lehman Brothers

; price target: 36. Cost Plus stumbled 2 7/16, or 7.5%, to 29 11/16.

Cox Radio

(CXR)

: DOWN to market performance from buy at

DLJ

. Cox Radio slipped 4 1/16 to 86.

Dollar Tree Stores

TheStreet Recommends

(DLTR) - Get Report

: first-quarter EPS estimate UP to 19 cents from 18 cents at

Thomas Weisel Partners

. Dollar Tree Stores was unchanged at 45.

eBay

(EBAY) - Get Report

: Price target UP to 285 from 225 at

PaineWebber

. eBay slumped 16, or 6.6%, to 223 13/16.

eGain Communications

(EGAN) - Get Report

: NEW buy at

FAC Equities

. eGain skidded 3/4 to 38 7/8.

Hadco

(HDC)

: fiscal 2000 earnings estimates UP to $3.55 a share from $3.26 and fiscal 2001 UP to $4.10 from $3.80 at

Robertson Stephens

; price target UP to $80 from $75. Hadco jumped 10 1/4, or 17.5%, to 68 5/8.

Home Depot

(HD) - Get Report

: NEW outperform at Lehman Brothers; price target: 75.

Home Depot

lost 3/8 to 64.

Linens 'N Things

(LIN) - Get Report

: NEW buy at

Lehman Brothers

; price target: 40. Linens 'N Things added 13/16 to 29 5/16.

Lowe's

(LOW) - Get Report

: NEW outperform at

Lehman Brothers

; price target: 77. Lowe's advanced 1/16 to 53 1/2.

Metalink

(MTLK)

: NEW buy at

Warburg Dillon Read

with a price target of 59. Metalink bounced 1 to 48.

Netergy Networks

(EGHT) - Get Report

, the company formerly known as

8X8

: rating UP to strong buy from buy at

W.R. Hambrecht

; price target raised to 50. The company is a supplier of IP telephony solutions. Netergy Networks tacked on 4 3/4, or 15.9%, to 34 1/2.

Pier 1 Imports

(PIR) - Get Report

: NEW outperform at

Lehman Brothers

; price target: 11. Pier 1 Imports added 1/8 to 9 1/16.

Register.com

(RCOM)

: NEW buy at

Thomas Weisel Partners

. Register.com gained 2 9/16 to 81 13/16.

W.R. Hambrecht

initiated coverage of several wireless companies. The firm initiated coverage of

Sprint PCS

(PCS)

with a buy rating and a price target of 85,

Nextel Communications

(NXTL)

with a buy rating and a price target of 200, and

VoiceStream Wireless

(VSTR)

with a buy rating and a 180 price target. Sprint PCS declined 2 to 63 3/8 and Nextel Communications shed 6 9/16 to 150 13/16, while VoiceStream Wireless jumped 3 1/8 to 136 5/8.

Switchboard

(SWBD)

: NEW buy at

J.P. Morgan

; 12-month price target: 60. Switchboard slipped 3 1/16, or 8%, to 35 1/16.

Starbucks

(SBUX) - Get Report

: NEW buy at

Salomon Smith Barney

. Starbucks fell 1 3/16 to 37 15/16.

Suiza Foods

(SZA)

: NEW buy at

Merrill Lynch

; 12-month price target: 45. Suiza Foods mounted 15/16 to 39 1/4.

Tricon Global Restaurants

(YUM) - Get Report

: NEW neutral at

Salomon Smith Barney

. Tricon Global stumbled 3/16 to 29 1/2.

Varian

(VARI)

: NEW buy at

Warburg Dillon Read

; price target: 58. Varian skidded 1 1/2 to 46 15/16.

Wendy's

(WEN) - Get Report

: NEW buy at

Salomon Smith Barney

. Wendy's bounced 5/16 to 18 15/16.

Williams-Sonoma

(WSM) - Get Report

: NEW neutral at

Lehman Brothers

; price target: 35. Williams-Sonoma climbed 3/16 to 25 7/8.

Miscellany

Bank One

(ONE) - Get Report

jumped 2 1/8, or 7%, to 34 1/4 after it said that it has

tapped former

Citigroup

(C) - Get Report

president Jamie Dimon as its new chairman and CEO. According to a press release, Dimon plans to buy a 2 million-share equity stake in Bank One, which has seen its stock price stumble due to its floundering credit card unit. Bank One was raised to a buy from market performance at

Donaldson Lufkin & Jenrette

.

Lucent

(LU)

declined 1 1/16 to 64 3/16 after it said it will launch the first video network designed strictly for the Internet. The new venture,

GeoVideo Networks

, will deliver HDTV-quality, real-time Internet protocol video over an international fiber network for business-to-business functions.

The judge presiding over the

Microsoft

(MSFT) - Get Report

antitrust case said he would postpone rendering a decision in the matter in order to give the government and lawyers more time to negotiate and come to a possible settlement, sources told

Reuters

. According to the sources, the judge did not set a time limit on talks, but that they could last for a week or more. Microsoft added 1/4 to 104 5/16.

Mosel Vitelic

and

Micron Technology

(MU) - Get Report

resolved a $100 million patent dispute yesterday before it entered a U.S. District Court in Delaware, according to court records. The terms of the resolution, which involved 10 patents that covered computer memory circuits and semiconductor manufacturing processes, were not disclosed. Mosel had initially brought a lawsuit claiming infringement against Micron, which countersued. Micron Technology skidded 2 3/4 to 136 3/4.

Rexall Sundown

(RXSD)

is the subject of a probe by the Florida attorney general's office,

The Wall Street Journal

reported. The investigation focuses on some of the company's business practices. Rexall Sundown stumbled 1 3/4, or 11.1%, to 14.

Zygo

said it agreed with

IBM

(IBM) - Get Report

to end a distribution pact to market and sell atomic force microscope products, which enable the imaging of a sample surface, after it became clear the technology will take a while to gain acceptance.

"The Heard on the Street" column in the

Journal

said brokerage firms have stepped up efforts to provide perks to brokers amid heated competition to build client assets. According to the story, such recruiting tactics run counter to the

Securities and Exchange Commission's

attempts to wipe out conflicts of interest on Wall Street by discouraging upfront signing bonuses, sales contests and unequal pay to push certain products.