Amid subdued action today, electronics retailer Tandy (TAN) - Get Report tumbled 5 15/16, or 10.6%, to 50 1/16 despite saying its April same-store sales rose 7% over the year-ago period, in line with the company's expectations.
was also under pressure, dropping 3 1/4, or 5.6%, to 55 1/16 despite saying that April same-store sales rose 20%, while its
division reported a 32% increase.
was also down, losing 5 1/4 to 119 1/4 after the company issued a warning to doctors that the deaths of 15 women with metastatic breast cancer have been linked to use of Herceptin, the company's breast cancer drug.
Mergers, acquisitions and joint ventures
slipped 3/4 to 56 3/8 and
lost 1 1/2 to 83 13/16 after the companies said they tapped Steve Case to serve as the chairman after their merger is completed and slated Gerald Levin as CEO. The companies also said that Bob Pittman and Dick Parsons were named co-COOs, while
will take on the role of vice chairman and senior adviser.
gained 3/8 to 52 3/16 after saying it will buy specialty resin maker
for $200 million in cash, the companies said today. McWhorter moved up 5 5/8, or 40.5%, to 19 1/2. Eastman will also assume about $155 million of McWhorter debt. Under the agreement, a wholly owned subsidiary of Eastman will launch a tender offer for 100% of McWhorter at $19.70 per share.
rose 1 to 56 9/16 after saying it agreed to a deal with
, which calls for Nokia to integrate Web infrastructure software with mobile network operators' systems. Inktomi climbed 2 1/16 to 147 1/4. The deal would bring together Inktomi's Traffic Server network cache with Nokia wireless technology. The companies will also work together to create software for third-generation wireless networks.
Bank holding company
plan to merge, they announced today. Provident plans to exchange 1,256 shares for each share of Harbor Federal. Provident was unchanged at 14 5/16 while Harbor Federal lifted 2 3/8, or 16.6%, to 16 5/8.
gained 1 1/8, or 8.9%, to 13 3/4 and
slipped 1/8 to 37 7/16 after they said they entered an Internet auction system joint venture for secondary and follow-on stock offerings which will be called
Earnings/revenue reports and previews
Earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified.
lost 1 9/16 to 39 11/16 despite posting second-quarter earnings of 18 cents a share, excluding its retained interest in
, beating the 18-analyst estimate of 14 cents and the year-ago 11 cents. The company said its latest quarter was helped by the success of the
Who Wants To Be a Millionaire
television show and the Millennium Celebration at
Walt Disney World
. The entertainment company also said its second quarter benefited from strong results in the company's Media Networks unit and improvement in the
unit, led by higher ratings for "Good Morning America."
For more on Disney's
earnings, see coverage from
inched up 1/4 to 6 15/16 after it reported first-quarter earnings of 15 cents a share, beating the two-analyst estimate of 12 cents and up from the year-ago 10-cent profit.
fell 4 1/4, or 13.1%, to 25 7/8 after it reported a first-quarter loss of 21 cents a share, wider than the six-analyst estimate of a 15-cent loss but narrower than the year-ago 25-cent loss.
lost 1/16 to 10 5/16 after it reported first-quarter funds from operations of 39 cents a share, edging out the single-analyst estimate and a penny better than the year-ago report.
fell 9/16 to 7 11/16 after it warned investors that first-quarter earnings would fall 6 cents short of its already revised 11-cent expectation. The 13-analyst estimate saw the broadline retailer reporting a 10-cent profit.
lifted 1 3/16 to 45 11/16 after it reported a 14% boost in April same-store sales.
slipped 1/8 to 48 3/4 after it posted first-quarter earnings of $1.25 a share, surpassing the nine-analyst estimate of $1.23 and up from the year-ago $1.17-profit.
moved up 1 7/8, or 24.2%, to 9 5/8 after it posted first-quarter earnings of 19 cents a share, surpassing the 11-analyst estimate of 12 cents but down from the year-ago 31-cent profit.
moved up 1/2 to 31 7/8 after it reported first-quarter earnings of 44 cents a share, beating the nine-analyst estimate of 41 cents and up from the year-ago 27 cents. The company said the earnings reported are before a charge of 84 cents a share related to discontinued operations.
Children's toy retailer
fell 7/32, or 5.1%, to 4 1/16 after saying it expects to post a larger-than-expected net earnings loss for the first quarter of fiscal 2001, due to lower sales of Beanie Babies.
inched up 1/8 to 9 7/8 after it posted a 12.5% increase in same-store sales.
saw shares jump up 4 1/16, or 9.9%, to 45 5/16 after it reported fourth-quarter earnings of $1.09 a share, beating the nine-analyst estimate of 95 cents but under the year-ago earnings of $1.14. The earnings for the fourth quarter of fiscal 2000 include other income of $4.2 million, or 10 cents a share, reflecting the benefit realized on the termination of a portion of an interest-rate hedge in connection with the company's recent issuance of $200 million of public debt securities, as well as a full quarter of
rose 1 5/8, or 9.5%, to 18 3/4 after it reported a 21% increase in April same-store sales.
shares climbed 1 1/8 to 53 7/16 after it reported a third-quarter loss of 61 cents a share, narrower than the 12-analyst estimate of a 66-cent loss but wider than the year-ago 50-cent loss.
shares swung up 6 3/8, or 15%, to 48 3/4 after it said it expects to report first-quarter earnings between $1.02 to $1.04 a share. This number beat by far the 13-analyst estimate of a 90-cent profit. The clothing retailer posted a 14.7% increase in April same-store sales.
Apparel and home fashions retailer
was 13/16 higher to 18 11/16 after it said Thursday that same-store sales for April were up 5% on the year. It said same-store sales for the four-week period ended April 29 were $702 million, up 11% from the previous period.
rode up 5/8 to 13 1/2 after it reported second-quarter earnings of 32 cents a share, in line with the four-analyst estimate and down a penny from the year-ago earnings. The company said the figure excluded a restructuring charge of 9 cents a share and a gain on the sale of the diversified businesses of 18 cents a share for the second quarter of fiscal 2000. The prior year second quarter net income included a loss of 14 cents a share.
shares jumped 11/16, or 6.1%, to 12, after it announced that it had adjusted its first-quarter earnings per share outlook to a range of 10 cents to 14 cents due to higher than-expected sales. The current eight-analyst estimate calls for Venator earnings per share to come in at 8 cents a share. Venator operates Foot Locker and Champs Sports stores.
slipped 2 3/16 to 51 1/4 after it posted a 10.9% boost in April same-store sales.
Offerings and stock actions
slipped 2 3/16 to 43 1/16 after it set a 3-for-2 split.
climbed 9/16 to 29 5/16 after it announced that its board approved a 5 million-share buyback program.
was off 1 9/16 to 35 3/4 after it said it expects the euro's drop will cut into earnings by 5 cents a share, compared with an earlier forecast of 2 cents a share.
Mark Kalinowski of
Salomon Smith Barney
lowered his EPS estimates to $1.54 from $1.57 for 2000, and to $1.74 from $1.77 for 2001.
analyst Andrew Barish lowered his estimates to $1.54 from $1.57 and to $1.74 from $1.76.
shares slipped 1 1/8 to 22: 2000 loss per share estimate trimmed to 30 cents from 36 cents at
Morgan Stanley Dean Witter
dropped 3/8 to 27 5/8: UP to strong buy from buy at
eased up 1 13/16 to 66 7/16: UP to strong buy from buy at
dropped 3/16 to 21 3/4: UP to buy from market perform at
Banc of America Securities
climbed 1 1/8 to 55 3/16: DOWN to buy from strong buy at
U.S. Bancorp Piper Jaffray
rose 3/16 to 33 5/16: DOWN to neutral from outperform at Morgan Stanley Dean Witter.
lost 9/16, or 7.5%, to 6 15/16: DOWN to market perform from buy at Banc of America.
fell 5/16 to 12 5/8: DOWN to neutral from attractive at
Salomon Smith Barney
jumped 1 9/16, or 9.8%, to 17 7/16 after it announced today that CEO James Oesterreicher is going to retire but will remain in the post until a successor is found.
Petroleum refining & marketing holding company
climbed 1/2 to 31 1/2 after it announced that Chairman and CEO Robert Campbell has retired.