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Dell (DELL) - Get Dell Technologies Inc Class C Report CEO Michael Dell is expected to announce a deal with Ariba (ARBA) later today.

Dell gained 3 1/2, or 6.8%, to 54 3/4, while Ariba shed 7 3/8 to 298. Dell said that the company's growth is returning after the Y2K slowdown and the fourth-quarter component problems.

Earlier today,

Banc of America Securities


Bear Stearns

upgraded Dell. Banc of America upgraded Dell to strong buy from buy. Bear Stearns upgraded Dell to buy from attractive.



dropped 6 3/8, or 17.1%, to 30 13/16 after it said it is buying

Times Mirror


. Times Mirror soared 37 11/16, or 78.6%, to 85 5/8. Tribune is the publisher of the

Chicago Tribune

, and also owns numerous television stations in addition to the

Chicago Cubs

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TheStreet Recommends

Major League Baseball

franchise. Times Mirror is publisher of the

Los Angeles Times



. Following completion of the deal, Tribune Company will have 11 daily newspapers, 22 television stations and four radio stations.

Credit Suisse First Boston

downgraded Tribune to hold from buy.

Mergers, acquisitions and joint ventures

Six big Wall Street firms and


announced the creation of


, an e-commerce concern that will host a series of online marketplaces linking firms with institutional investors.

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report


J.P. Morgan

(JPM) - Get JPMorgan Chase & Co. Report


Lehman Brothers



Merrill Lynch



Morgan Stanley Dean Witter




(C) - Get Citigroup Inc. Report

Salomon Smith Barney

will own a majority interest in the business. Communicator will provide the infrastructure and operate the business and have a minority interest. Goldman Sachs lost 1 7/8 to 110 3/8; J.P. Morgan jumped 5 15/16, or 5.6%, to 112; Lehman Brothers lost 1 5/8 to 80 ¿; Merrill Lynch dropped 3 7/16 to 101 1/2; Morgan Stanley Dean Witter moved down 3 7/8 and Citigroup was unchanged at 49.

CoreComm Limited

(COMM) - Get CommScope Holding Co., Inc. Report

climbed 1 1/8 to 49 after it said it is buying


for about $540 million in cash and stock. gained 1 5/8, or 12.5%, to 14 5/8.



lost 3/4 to 25 3/4 after it said it is buying

Card Capture Services

, the largest independent network of centrally managed automated teller machines in the United States. Terms of the deal weren't disclosed.

General Motors

(GM) - Get General Motors Company Report

was unchanged at 77 13/16 after it and


said they formed a strategic industrial alliance. General Motors will buy a 20% stake in Fiat for $2.4 billion in GM stock. GM also said it will buy back $2.4 billion of its common stock by the end of the year and said it increased its



exchange offer to $9 billion from $8 billion. Hughes lost 1 7/16 to 128 1/4.


(IBM) - Get International Business Machines Corporation Report

said it is teaming up with


(CSCO) - Get Cisco Systems, Inc. Report






(INTC) - Get Intel Corporation Report






(NOK) - Get Nokia Oyj Report






and others to supply products and services to bring e-business applications to wireless devices. IBM gained 2 1/4 to 107 1/2, Cisco slipped 3/16 to 136 3/16, Ericsson dropped 3 5/16, Intel rose 1 15/16 to 122 1/8, Motorola moved down 8 1/2 to 166 3/8, Nokia slipped 7/8 to 214 1/8 and Palm fell 5 11/16, or 8%, to 64 5/16.

i2 Technologies


shed 16 13/16, or 8.1%, to 191 3/16 after it said it is buying

Aspect Development


for $9.3 billion. Aspect Development popped 11 13/16, or 13.9%, to 96 13/16. According to the terms, i2 would swap 0.55 share for each Aspect share after Aspect's 2-for-1 stock split. After the merger is completed, Aspect shareholders will own 18% of the company.

Separately, i2 said it has entered a $280 million stock deal to acquire closely held


. i2 said the deals would not effect fiscal 2000 cash earnings but would contribute to the fiscal 2001 report.

L-3 Communications

(LLL) - Get JX Luxventure Limited Report

lost 5/8 to 43 15/16 after it said it is buying the

Traffic Alert and Collision Avoidance System

product line from


(HON) - Get Honeywell International Inc. Report

for $255 million. Honeywell slipped 3/4 to 44 5/8.


(MSFT) - Get Microsoft Corporation Report

moved down 3 to 98 after it and

Andersen Consulting

agreed to a $1 billion pact to form a joint venture called


, a technology services firm that will employ 5,000 and contribute to building Internet businesses using Microsoft software.

Pitney Bowes

(PBI) - Get Pitney Bowes Inc. Report

lost 3/16 to 45 15/16 after it said it formed an alliance with a unit of

Siemens AG

to provide messaging solutions. Pitney Bowes and Siemens will provide software, hardware and Web-based applications that reduce processing time, speed access and prioritize the delivery of important mail and messages.

Radio One


lost 2 5/16 to 63 7/16 after it said it will buy 12 stations from

Clear Channel

(CCU) - Get Cia Cervecerias Unidas SA Report

for $1.3 billion and three stations from


for $40 million. Radio One will also buy

Davis Broadcasting

for $24 million Clear Channel lost 1/8 to 62..

Texas Utilities


inched up 1/16 to 26 11/16 after it said it was launching an offer for Spanish utility

Hydroelectrica del Cantabrico

for 21.25 euros ($20.54) a share, or 2.4 billion euros ($2.32 billion).

Tommy Hilfiger


is believed to be in talks to buy all or part of privately owned

Calvin Klein


The Sunday Telegraph

in London reported. Calvin Klein could be valued at $1 billion, the newspaper said. Tommy Hilfiger edged up 0.7%, to 13 9/16.


(VNTR) - Get Venator Materials PLC Report

shed 19 5/16, or 10.7%, to 162 and



lifted 17 1/2, or 7.5%, to 250 after the companies said they entered a software deal.

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.



(AXE) - Get Anixter International Inc. Report

jumped 4 7/16, or 22.5%, to 24 1/8 after it said it expects first-quarter earnings to exceed estimates by 15% to 20%. The company said it expects earnings between 38 cents and 40 cents a share, compared with the year-ago earnings of 19 cents. The current two-analyst estimate is for 34 cents a share.

B/E Aerospace


lost 1 9/16, or 17.4%, to 7 7/16 after it warned investors that it would post a fourth-quarter loss of $10 million. The eight-analyst estimate expected B/E to report a 37-cent profit.


(PGR) - Get Progressive Corporation Report

lost 1/2 to 49 1/4 after it said its first-quarter earnings would fall below estimates. The current 14-analyst estimate calls for earnings of 50 cents a share.

Offerings and stock actions

Applied Micro Circuits


fell 9 15/16 to 281 1/16 after it set a 2-for-1 stock split.


(CELG) - Get Celgene Corporation Report

lost 5 1/2 to 163 after it set a 3-for-1 stock split.

Commerce One's


shed 7 9/16 to 250 after its board approved a 2-for-1 stock split.


added 14 1/16, or 27%, to 66 after it set a 2-for-1 stock split.



gained 1/16 to 23 11/16 after it said it plans a 2-for-1 stock split and will apply for listing on the

Milan Stock Exchange

by the end of 2000.

Nortel Networks


declined 1 3/4 to 121 11/16 after he said it plans to spin off its


division as a separate company. Nortel said that

Pequot Capital

would take a $15 million stake in the new company.

J.P. Morgan said


(SNE) - Get Sony Corp. Report

will split its ADRs 2-for-1. Sony sank 18 1/4, or 7.4%, to 225 1/2.

Analyst actions

Morgan Stanley Dean Witter




to strong buy from outperform. AMR advanced 7/16 to 57 5/16.

Merrill Lynch




with a near-term accumulate, long-term buy and a 12- to 18-month price target of 50. Broadwing stumbled lost 1 9/16 to 37 3/8.


raised its 12-month price target on



to 150 a share. Calpine fell 6, or 5.4%, to 105.

Credit Suisse First Boston

cut its rating on


(CHIR) - Get Global X MSCI China Real Estate ETF Report

to buy from strong buy. Chiron plummeted 14 3/16, or 23.6%, to 45 3/4.

Donaldson Lufkin & Jenrette




to its value list. Compaq edged up 1/8 to 28 11/16.

Deutsche Banc Alex. Brown

started coverage of



with a buy rating and a 157 price target. Diversa tumbled 9 7/8, or 9.7%, to 91.

Thomas Weisel

analyst Doug van Dorsten started coverage of



with a buy rating and a 12-month price target of 60. Eloquent slipped 2 7/8, or 7.2%, to 36 5/8.

Warburg Dillon Read analyst Claire Nickson-Havens raised her rating on



to strong buy from buy and boosted the price target to 100 from 80. eSpeed popped 8 1/8, or 10.8%, to 82 7/8.

J.P. Morgan

set a 12-month price target for

FleetBoston Financial


at 38. FleetBoston Financial added 7/16 to 26 1/8.

Robertson Stephens



(INTC) - Get Intel Corporation Report

to strong buy from buy. Intel bounced 1 15/16 to 122 1/8.


said it started coverage of

Juno Online


with a buy rating and a 12-month price target of 40. Juno Online hopped 3 1/8, or 15.7%, to 23.

Alex. Brown upgraded



to strong buy from buy. Knight/Trimark climbed 2 1/2, or 5%, to 52 1/16.

DLJ said it raised


(KSS) - Get Kohl's Corporation Report

to buy from market performer. Kohl's advanced 1 9/16 to 84 11/16.

SG Cowen

said it started coverage of



as a strong buy. Landacorp tacked on 2 1/8, or 15%, to 16 1/14.

Merrill Lynch said analyst Michael Hughes started coverage of

Lending Tree

(TREE) - Get LendingTree, Inc. Report

with a near- and long-term buy rating and a 12- to 18-month price target of 33. Lending Tree gained 13/16, or 5.7%, to 14 7/8.

Wit SoundView

upped its rating on



to buy from hold and set a price target of 90. Lucent skidded 1 3/4 to 66 1/4.

Thomas Weisel analyst Keith Gay initiated coverage on


with a buy rating. declined 7/16 to 9 3/8.

Salomon Smith Barney


StarMedia Network

(STRM) - Get Streamline Health Solutions, Inc. Report

to neutral from buy. StarMedia Networks plummeted 17 1/4, or 34.5%, to 32 3/4.


sliced its rating on

Suiza Foods


to attractive from buy and cut its price target to 42 from 51. Suiza Foods tumbled 1 3/8 to 37 5/16.

Merrill Lynch analyst Robert Schenosky started coverage of

Weirton Steel


with a rating of accumulate for the intermediate term and buy for the long term. Weirton Steel declined 1/8 to 9 1/2.




slipped 5 1/4, or 9.3%, to 50 3/4 after it said it planned to separate its finance and health care businesses "as soon as an orderly separation can be achieved." The company also plans to sell off international assets that do not fit the strategy of either resulting company. Meanwhile,

Warburg Dillon Read

cut its rating on Aetna to reduce from hold.


(ATHM) - Get Autohome Inc. Report

hopped 1 5/16 to 29 7/8 after it said it will launch an online service aimed at high-speed users.

JC Penney

(JCP) - Get J. C. Penney Company, Inc. Report

gained 1/16 to 14 after it said that the head of its


division, Frank Newman, has departed to become the CEO of online drugstore

. Last year, JC Penney agreed to spin off 20% of its Eckerd unit as a tracking stock. The offering will take place in the fist half of 2000.

The Heard on the Street column in the


says biotech stocks are acting like Internet stocks, driving the biotech industry's market capitalization up 50% to $600 billion in just two months time. The story speculates that some biotech companies now have the capacity to swallow up old-line pharmaceuticals companies, though it adds no imminent deals are on the horizon.