Monday's Company Report: VRIO, ANCR, DNA, YNR, LCP, AES

Ancor Communications (ANCR) jumped 7, or 22.4%, to 38 3/16 after high-speed-component maker QLogic (QLGC) signed an agreement to buy it in a stock deal worth about $1.7 billion. The deal values each Ancor share at $52.71.

For more on this

story, see coverage from

TheStreet.com/NYTimes.com's

joint newsroom.

Genentech

(DNA)

popped 7 9/16, or 6.1%, to 131 1/2 after it and

ImmunoGen

(IMGN) - Get Report

agreed to collaborate for a second time to treat certain types of cancers. ImmunoGen edged up 7/16 to 12.

According to their agreement, Genentech will have broad access to ImmunoGen's cancer cell fighting technology for developing antibody-based therapies. For more on this

deal, see coverage from

TheStreet.com/NYTimes.com

joint newsroom.

Mergers, acquisitions and joint ventures

British investment company

Amvescap

(AVZ)

lost 3 1/2 to 68 after it said it is in advanced talks to buy Canadian fund company

Trimark Financial

in a cash and share deal, according to published reports.

For more on this

story, see coverage from

TheStreet.com/NYTimes.com's

joint newsroom.

JDS Uniphase

(JDSU)

shed 5 7/16, or 5.8%, to 88 3/8 after it said it bought

Fujian Casix Laser

, its first venture into China.

The Wall Street Journal

reported that Dutch

KPN Telecom

(KPN)

and Spain's

Telefonica

merger plans, which were called off on Friday, were derailed by the Spanish government and backed by two large Spanish banks. Yesterday, analysts said the downside should be limited with plenty of other partners or linkups still possible. KPN climbed 2 1/4 to 109 3/16.

Network Solutions

(NSOL)

dropped 6 3/4 to 142 1/4 and

America Online

(AOL)

lost 1 1/2 to 55 1/2 after the companies said they entered a marketing pact.

For more on this

story, see coverage from

TheStreet.com/NYTimes.com's

joint newsroom.

Verio

(VRIO)

soared 22 3/8, or 62.3%, to 58 5/16 after

Nippon Telegraph & Telephone

(NTT)

unit

NTT Communications

announced yesterday that it will buy the 90% of the Web site manager it doesn't already own for about $60 a share, or $5.5 billion. Nippon slipped 1/4 to 66..

Finnish telecom-equipment maker

Nokia

(NOK) - Get Report

dropped 3, or 5.3%, to 54 after it said it signed a deal with Hong Kong's

Cable & Wireless

(HKT)

to use technology to provide virtual private networks. Nokia also announced a deal with U.S. e-commerce firm

BEA Systems

(BEAS)

to deliver mobile commerce solutions. No terms were released for either deal. Cable & Wireless fell 13/16 to 22 5/8 and BEA Systems lost 7/16 to 48 1/2.

Storage USA

(SUS)

lost 5/16 to 29 15/16 after it said it is in an alliance with indirect affiliates of

Security Capital

(SCZ) - Get Report

. Security Capital lost 1/4 to 15 5/16.

Trafficmaster

said it will deliver real-time digital traffic information into

Motorola's

(MOT)

telematics and in-car navigation systems. Trafficmaster, which will start delivery in Germany, followed by the U.K. and other European countries, said that under the deal Motorola will take a 10% stake in Trafficmaster Europe at par value. No other financial information was provided. Motorola moved down 2 5/8 to 106 7/8.

Tyco

(TYC)

tacked on 7/16 to 49 13/16 after it agreed yesterday to buy the original electronic equipment manufacturing unit of

Thomas & Betts

(TNB)

for $750 million in cash. Thomas & Betts slipped 1/16 to 30 7/16.

British advertising giant

WPP

(WPPGY)

agreed to take over U.S. rival

Young & Rubicam

(YNR)

in a deal valued at about $5.5 billion, according to published reports. Young & Rubicam dropped 4 5/16, or 8%, to 49 13/16.

Earnings/revenue reports and previews

(

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.

)

Aflac

(AFL) - Get Report

inched up 1/2 to 46 after it said it will have a one-time gain of 35 cents a share in the second quarter. Aflac said the gain is related to the release of accrued retirement liability.

Cablevision

(CVC)

climbed 1/4 to 63 1/4 after it reported first-quarter losses of 67 cents a share, beating the two-analyst estimate of a 94 cent per share loss and the year-ago $1.57 loss.

For more on this

story, see coverage from

TheStreet.com/NYTimes.com's

joint newsroom.

Legg Mason

(LM) - Get Report

rose 3/8 to 37 1/4 after it listed fourth-quarter earnings of 78 cents a share, ahead of the four-analyst estimate of 59 cents and the year-ago 43 cents.

Loews Cineplex

(LCP)

lost 1/4, or 8.3%, to 2 3/4 after it posted a fourth-quarter share loss of 37 cents, below the four-analyst estimate of 35 cents and the year-ago two cents.

May Department Stores

(MAY)

moved up 3/8 to 28 3/4 after it posted first-quarter earnings of 35 cents a share, in line with the 19-analyst estimate and a penny better than the year-ago 34 cents.

For more on this

story, see coverage from

TheStreet.com/NYTimes.com's

joint newsroom.

Pennzoil-Quaker

(PZL)

gained 1/8 to 11 3/8 after it reported earnings of 9 cents a share, beating the four-analyst estimate of 5 cents, but down from the year-ago 11 cents.

The company also reported nonrecurring aftertax charges in the first quarter of 2000 totaling $25.2 million, or 32 cents per basic share, that were primarily associated with a fire that temporarily shut down the Shreveport, La., refinery. There were also costs related to a major general and administrative cost reduction project. As a result of the anticipated cost reductions, the company expects to save about $40 million in annual pretax general and administrative costs in 2001.

SPX

(SPW)

lost 1 1/2 to 108 5/8 after it said it expects to earn between $5.80 and $5.90 a share before items for 2000, a 17% increase from the company's 1999 earnings of $5.06 a share.

The technical products company said it is raising its earnings guidance for the year by 10 cents a share because of strong first-quarter results. First Call/Thomson Financial's five-analyst earnings estimate for the year is $5.87 a share.

Offerings and stock actions

U.S. power utility

AES

(AES) - Get Report

, which advised shareholders of Venezuela's

Grupo EDC

to accept its $863 million "unfriendly" takeover bid over the weekend, will raise $1.2 billion by selling $600 million of common stock and $600 million convertible stock in a private placement. The deal is the largest corporate takeover in Venezuelan history. AES dropped 4 13/16, or 5.6%, to 81 3/16.

Focal Communications

(FCOM) - Get Report

gained 1 1/8 to 27 7/8 after it withdrew a proposed public offering of 7 million common shares because of poor market conditions.

Keithley Instruments

(KEI)

shares hopped up 6 1/2, or 11.3%, to 64 after it said its board approved a 2-for-1 stock split.

Hair and retail products salon owner

Regis

(RGIS)

added 9/16 to 13 3/8 after it announced a stock buyback of up to $50 million shares.

7-Eleven

(SVEV)

has filed to offer 10 million shares of common stock.

Analyst actions

AT&T Wireless

(AWE)

shares fell 1 to 29 1/2: NEW buy at

Deutsche Banc Alex. Brown

, price target: $40 a share.

BF Goodrich

(GR)

was up 1 5/16 to 33 3/4: UP to strong buy from buy at

Credit Suisse First Boston

.

Corillian

(CORI) - Get Report

stumbled 7/8 to 27 1/8: NEW buy at CSFB, price target: 27.

CMS Energy

(CMS) - Get Report

shares inched up 1/2 to 21 9/16: UP to recommended list from market perform at

Goldman Sachs

.

Dynamic Details

(DDIC)

climbed 7/16 to 15 1/16: NEW strong buy at CSFB, long-term price target: 21.

El Paso Energy

(EPG)

grew 2 to 46 1/2: price target UP to 63 from 60 and 2001 earnings estimate lifted to $3.15 from $3.05 at

Donaldson Lufkin Jenrette

.

Exelexis

(EXEL) - Get Report

shares were off 1 5/8, or 5.8%, to 26 1/2: NEW market outperformer at Goldman Sachs.

John Hancock Financial

(JHF)

shares were up 7/16 to 20 7/16: price target UP to 30 at

Merrill Lynch

.

Harley-Davidson

(HDI)

slipped 7/16 to 41 1/8: NEW hold at CSFB.

Hibernia

(HIB)

jumped up 5/8, or 5.8%, to 11 3/8: UP to medium-buy from medium-neutral at

Salomon Smith Barney

.

Nuance Communications

(NUAN) - Get Report

plunged 5, or 10.5%, to 42 1/2: INITIATED market performer at Goldman Sachs; NEW strong buy at

Thomas Weisel

.

Pfizer

(PFE) - Get Report

rose 1 7/16 to 46 1/16: UP to buy from neutral at

Lehman Brothers

.

ReliaStar Financial

(RLR)

slipped 1/8 to 50 11/16: DOWN to outperform from buy at Salomon Smith Barney.

Warnaco

(WAC)

was off 5/8, or 7%, to 8 1/4: DOWN to market performer from buy at

J.P. Morgan

.

Tiffany

(TIF) - Get Report

grew 2 11/16 to 70 1/4: UP to strong buy at

Chase H & Q

; price target: 10.

Miscellany

Avista

(AVA) - Get Report

added 2 5/8, or 10.1%, to 28 1/2 after it said it hired Merrill Lynch to maximize the value of its fuel cell unit.

Boeing

(BA) - Get Report

lost 1 1/4, or 3.2%, to 38 1/4 after it named the president of its military aircraft and missiles division Michael Sears as CFO, succeeding Debby Hopkins who resigned last month. Hopkins resigned to take the CFO post at

Lucent

(LU)

.

Construction equipment manufacturer

CMI

(CMI) - Get Report

slipped 1/16 to 3 13/16 after it announced that president and CEO Tom Engelsman has resigned. The company's chairman and founder Bill Swisher has been appointed interim president and chief executive.

Phelps Dodge

(PD) - Get Report

fell 1/16 to 49 15/16 after its subsidiary

Climax Molybdenum

said it will cut workers and production at its Henderson, Colo., mine due to a glut in the market that is affecting company profits. The company said it is eliminating 130 workers, about 30% of the of the employees at its Henderson mine.

Excite@Home

(ATHM) - Get Report

lost 7/16 to 17 1/2 after it said it appointed its chief executive, George Bell, to the additional role of chairman. For more on this

story, see coverage from

TheStreet.com/NYTimes.com

joint newsroom.

The Heard on the Street column in the

Journal

looks at

DuPont

(DD) - Get Report

, which reportedly has yet to hit its stride when it comes to the "right mix" for a business strategy. According to the story, when CEO Charles "Chad" Holliday took the helm two years ago, investors were looking for a fresh direction for the chemicals company that would boost the share price. Instead, earnings have been flat, and the stock hasn't fared very well either, the story said. DuPont slid 5/8 to 50 5/8.