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Updated from 4 p.m. EDT

Food company

ConAgra

(CAG) - Get Conagra Brands, Inc. Report

fell 1 3/8, or 6.9%, to 18 1/2 after it said this morning that it planned to buy

International Home Foods

(IHF) - Get iShares U.S. Healthcare Providers ETF Report

for $22 a share, half in cash and half in stock, in a deal valued at $2.9 billion. International Home Foods rose 5 1/4, or 34.2%, to 20 5/8 on the news.

Amazon.com

(AMZN) - Get Amazon.com, Inc. Report

plummeted 8 1/8, or 19.4%, to 33 7/8, after

Morgan Stanley Dean Witter

analyst Mary Meeker, one of Wall Street's most influential Internet analysts, said she "believes there will be no upside to her June and September revenue estimates and there could be some modest downside." Her estimates are $600 million for the second quarter, ending in June; $650 million for the third quarter, ending in September; and $1.2 billion for the fourth quarter, ending in December.

Rambus

(RMBS) - Get Rambus Inc. Report

jumped 17 9/16, or 18.1%, to 114 11/16, after it said it has reached a settlement for its patent suits with Japanese electronic-equipment maker

TheStreet Recommends

Hitachi

(HIT)

. Hitachi edged down 1 1/16 to 138 3/16. According to the terms, Hitachi would pay Rambus a licensing charge to use the technology for high-speed memory interfaces used in some semiconductors.

UBS Warburg

raised Rambus' price target to 165 from 115.

Mergers, acquisitions and joint ventures

Texas Instruments

(TXN) - Get Texas Instruments Incorporated Report

, which yesterday announced it would buy

Burr-Brown

(BBRC)

for $7.6 billion, said it would acquire privately held

Alantro Communications

for $300 million in stock.

Alantro's technology distributes high-speed telecommunications throughout a home or business without using wires, while Texas Instruments' chips carry communications into those domains. Texas Instruments was down 6 7/16, or 7.9%, to 75 3/16.

American Home Products

(AHP)

, which was down 11/16 to 59 5/16, bought $75 million of

King Pharmaceuticals'

(KG)

common stock under a plan for the companies to co-promote King's cardiovascular and hypertension drug Altace. Also, American Home Products paid King $25 million upon execution of the agreement and will pay an additional $50 million for

FDA

approval for the potential new uses for the drug. King was up 1 11/16 to 43 1/8.

As expected, shareholders of

America Online

(AOL)

and

Time Warner

(TWX)

approved the merger of their two companies today.

However, the union must still be cleared by U.S. and European regulatory agencies.

A.G. Edwards

cut its ratings on AOL and Time Warner to maintain from accumulate. AOL was down 3 1/8, or 5.5%, to 53 3/8, while Time Warner was down 4 1/16, or about 5%, to 77 9/16.

The world's No. 1 spicemaker

McCormick

(MKC) - Get McCormick & Company, Incorporated (MKC) Report

is in the "well-advanced" stage of talks to acquire

Eridania Beghin-Say's

Ducros unit, a European spice, seasoning and dessert company. Financial terms weren't disclosed. It ended the day up 3/8 to 34 3/16.

Sonera

(SNRA)

was up 2 5/16 to 50 5/8 after Sonera deputy chief executive officer Kaj-Erik Relander told

The Wall Street Journal

it's been in exploratory talks with several of the top mobile-phone companies in the past couple months and expects to start merger negotiations in the second half of the year.

Sonera has been approached by

Telefonica

,

France Telecom

(FTE)

,

Royal KPN

and

Vodafone AirTouch

(VOD) - Get Vodafone Group Plc Sponsored ADR Report

, among others, the report said, citing people close to the talks.

DaimlerChrysler

(DCX)

said late last night it would hold a news conference today to announce a joint venture with

Hyundai

, the South Korean auto manufacturer. The companies are rumored to be discussing a joint bid for

Daewoo Motor

. DaimlerChrysler was 7/16 to 52 3/4.

The pharmaceuticals unit of

Aventis

(AVE)

will pay $450 million to buy a stake in

Millennium Pharmaceuticals

(MLNM)

. The two companies will form an alliance to jointly develop and sell anti-inflammatory drugs.

Aventis, which ended the day up 1 5/16 to 68 5/8, said that over the five next years it will buy rights to Millennium drug discoveries for $200 million and invest in $250 million of Millennium common stock up to 2001. Millennium finished 4 15/16 lower to 119 9/16.

Goodyear

(GT) - Get Goodyear Tire & Rubber Company Report

and

Michelin

announced a joint venture in which the two will research and develop advanced technologies for run-flat tires, which allow users to drive on a tire without air pressure until it can be serviced.

Goodyear and Michelin will license patented technologies to each other, but will continue to compete in run-flat systems sales. According to

The Wall Street Journal

, Goodyear developed run-flat technology that mounts on a conventional rim, while Michelin has an integrated wheel-and-tire system. The companies are eventually expected to jointly develop and introduce an entirely new wheel-and-tire system that eliminates the need to attach the tire to the wheel. Goodyear was up 7/16 to 22 13/16

Medical Assurance

(MAI)

and

Professionals Group

(PICM)

plan to consolidate, the companies announced this morning. The new company, to be merged early next year, will have $2 billion in assets. Holders of Medical Assurance will get shares in the new company, while Professionals holders will get either $12 in cash and $14 in stock or $26 in cash per share. Medical Assurance was down 1/4 to 10 7/8, but Professionals Group was up a whopping 6 55/64, or 42.9%, to 22 55/64.

Cablevision Systems

(CVC)

, which was down 1 7/8 to 69 3/4, said that

AT&T

(T) - Get AT&T Inc. Report

, down 1 3/4 to 34 5/16, and other cable operators that hold interests in

Excite@Home

(ATHM) - Get Autohome, Inc. Sponsored ADR Class A Report

agreed to postpone a plan that would alter Excite@Home's control. Cablevision, which owns a big stake in Excite@Home, has brought a suit against Excite, AT&T,

Cox Communications

(COX)

and

Comcast

(CMCSA) - Get Comcast Corporation Class A Report

, claiming that a transaction between them would infringe upon Excite@Home's charter. The agreement between the defendants would increase AT&T's voting stock in Excite@Home to 74% and allow Comcast and Cox to sell their stakes to AT&T beginning next year. The defendants asked a Delaware court for a expedited trial to begin Sept. 6. Cox was down 7/8 to 48, Comcast fell 1 to 35 3/16 and Excite@Home finished the day down 1 13/16, or 8.7%, to 19 1/16.

Kroger

(KR) - Get Kroger Co. (KR) Report

and

Winn-Dixie

(WIN) - Get Windstream Holdings, Inc. Report

agreed that Kroger should not purchase 74 Winn-Dixie supermarkets in Texas and Oklahoma, after receiving opposition from government regulators. The

Federal Trade Commission

said it would block the transaction, saying that the deal would create a concentration of stores in Fort Worth, Texas. The news lifted Kroger 1 5/16, or 6.3%, to 22. Winn-Dixie was 1/2 lower to 14 3/8.

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Earnings/revenue reports and previews

Micron Technology

(MU) - Get Micron Technology, Inc. (MU) Report

posted third-quarter earnings of 47 cents a share, greatly beating the 24-analyst estimate of 34 cents and up from the year-ago 5-cent loss. The chip-making giant attributed the stellar results to strong semiconductor sales, which hit $1.5 billion for the quarter. Micron said the 30% sequential increase in sales was sparked by an increase in megabits of memory shipped. Micron was up 1 1/8 to 88.

Unilever

(UL) - Get Unilever PLC Sponsored ADR Report

said it anticipates its 2000 sales to rise by 2% to 3% instead of the previously expected 4% to 5%. The company said it would discuss the developments during an analyst's meeting next week. The news pulled Unilever down 1 15/16, or 7%, to 25 5/8.

CSK Auto

(CAO)

sunk 3 3/8, or 30%, to 8, after it said it anticipates its second-quarter earnings to fall below estimates, but up 20% from the year-ago earnings. The

First Call/Thomson Financial

eight-analyst estimate was 60 cents a share. The company blamed its results on acquisitions, soft sales and interest rates.

Seitel

(SEI)

was unchanged after it said it would take a one-time restructuring charge of 16 cents per share, or $3.9 million, in the second quarter related to the buyout of management bonus contracts. The company, provides seismic data and geophysical technology used in oil and gas exploration and production.

Sonic

(SONC)

posted third-quarter earnings of 50 cents a share, a penny better than the nine-analyst estimate and up from the year-ago 40-cent profit. It edged up 5/16 to 28 3/4.

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Analyst actions

Upgrades

Hartford Financial Services Group

(HIG) - Get Hartford Financial Services Group, Inc. (HIG) Report

gained 2 1/2 to 53 5/16: UP to strong buy from buy at

Banc of America Securities

.

Micron Technologies

(MU) - Get Micron Technology, Inc. (MU) Report

moved up 1 1/8 to 88:

Lehman Brothers

upped fiscal 2001 estimates to $4.10 a share from $3.50 a share, and fiscal 2000 to $2.05 a share from $1.85 a share.

UBS Warburg

upped fiscal 2001 estimates to $3.53 from $3.41 a share and fiscal 2002 estimates to $4.92 a share from $4.80 a share.

Rambus

(RMBS) - Get Rambus Inc. Report

: price target was raised to 165 from 115 at

UBS Warburg

.

Downgrades

CMI Corp.

(CMI) - Get Cummins Inc. Report

lost 1/2, or 14%, to 3 1/16: DOWN to hold from buy at

Credit Suisse First Boston

.

Nautica

(NAUT)

lost 1 7/8, or 17.1%, to 9 1/16: DOWN to hold from buy at

ING Barings

.

Staples

(SPLS)

slid 1 13/16, or 10.7%, to 15 3/16 : DOWN to accumulate from buy at

Merrill Lynch

.

Universal Health Services

(UHS) - Get Universal Health Services, Inc. Class B Report

fell 1 1/16 to 66 1/16: DOWN to hold from buy at

ABN Amro

, saying its current valuation is "well above" the group's normal trading group.

Initiations

Flag

(FTHL)

climbed 1/4 to 17 1/2: NEW outperform by

Morgan Stanley Dean Witter

; price target: 37.

Clarent

(CLRN)

climbed 7 1/2, or 13.9%, to 61 1/2: NEW buy at

Lehman Brothers

; price target: 100.

Sonus Networks

(SONS)

sailed up 2 1/8 to 154 7/8: NEW buy at

Lehman Brothers

; price target: $200.

Mercury General

(MCY) - Get Mercury General Corporation Report

moved down 1/8 to 25 3/16: NEW buy at Credit Suisse First Boston; price target: 31.

Group Moves

A.G. Edwards cut its ratings on

Disney

(DIS) - Get Walt Disney Company Report

,

Viacom

(VIA) - Get Viacom Inc. Class A Report

and merger partners

America Online

(AOL)

and

Time Warner

(TWX)

to maintain from accumulate. AOL fell 3 1/8, or 5.5%, to 53 3/8, Disney dropped 1 7/8 to 39 5/8, Viacom lost 2 11/16 to 64 9/16 and Time Warner fell 4 1/16, or 5%, to 77 9/16.

Merrill Lynch

raised earnings estimates for several airline stocks for the second quarter and for 2000:

PaineWebber

lowered its ratings to attractive from buy on four nonprime lenders to consumers:

  • Providian Financial (PVN) fell 3 29/32 to 83 7/16: price target DOWN to 110 from 125.
  • Associates First Capital (AFS) lost 1/16 to 21 11/16: price target DOWN to 28 from 35.
  • CompuCredit (CCRT) lost 1 1/8 to 30 5/8: price target DOWN to 40 from 50.
  • Household International (HI) - Get Hillenbrand, Inc. Report lost 1 1/16 to 42 1/8: price target DOWN to 50 from 55.

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Offerings and stock actions

Accelerated Networks

(ACCL)

shares soared 33, or 220%, to 48 after its initial public offering was priced at $15. The company's offering of 4 million shares priced above its expected range of $11 to $13 per share, which had been raised from an original range of $9 to $11.

Moorpark, Calif.-based Accelerated Networks develops and sells products that enable service providers to offer bundled voice and data services over a single broadband network.

Credit Suisse First Boston

was the lead underwriter on the deal.

Trucking company

Yellow

(YELL)

added 11/16 to 14 5/8 after it approved the repurchase of up to $25 million of its shares on the open market. The company will cut capital spending to finance the plan. The company's shares settled at a 52-week low Thursday.

Federated Investors

(FII) - Get Federated Investors, Inc. Class B Report

climbed 5/16 to 32 11/16 after it set a 3-for-2 stock split.

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Miscellany

Drkoop.com

(KOOP)

rose 29/32, or 55.8%, to 2 17/32 after it closed a $1.5 million bridge loan financing agreement with a merchant bank. The bank received warrants to purchase 4 million shares of Drkoop at 75 cents a share, subject to adjustment, and has the right to appoint a director to Drkoop's board.

In a press release, the company said it and the merchant bank are also pursuing permanent financing that they expect to complete in the next several weeks.

Drkoop.com Inc. said in a separate announcement that Dr.

C. Everett Koop

extended his name and likeness agreement to seven years, adding two years to the amendment signed in August 1999. Koop will remain chairman and continue to provide articles for the Web site.

Human Genome Sciences

(HGSI)

hopped 12 3/8, or 9.3%, to 145 3/8 after it said it will initiate human clinical trials of a protein, called B-lymphocyte stimulator, or BLyS, in patients with Common Variable Immunodeficiency, a defect of the immune system.

The company said patients suffering from CVID require lifelong treatment with antibodies to protect against recurrent infection. BlyS is made by the human body and stimulates antibody production.

Three weeks after

MP3.com

(MPPP)

settled a copyright suit with two major record labels,

BMG Music

,

Sony Music Entertainment

(SNE) - Get SONY GROUP CORPORATION SPONSORED ADR Report

and

Warner Bros Records

filed a copyright infringement lawsuit against privately held MP3Board in Manhattan federal court. The record companies want to prevent the Web site from linking users to "pirated" music on the Internet. MP3.com lost 11/16 to 14 3/16.

Johns Manville

,

(JM)

the industrial-products manufacturer, is going private. The company is entering a $3 billion merger pact with LBO firm

Hicks Muse Tate & First

. It expects shareholders to receive $13.625 in cash per share, and the deal is expected to close by the end of the year. Shares climbed 15/16, or 7.6%, to 13 1/4.

In a plan to reorganize its management team,

Prodigy Communications

(PRGYA)

named former

SBC Communications

(SBC)

executive Charles Roesslein president and chief executive. Prodigy lost 5/16 to 10 7/8, while SBC slipped 9/16 to 48 9/16.

Prodigy said in a release that the combination of SBC's and Prodigy's consumer and small-business Internet operations in May prompted the management reorganization. Also, Prodigy said it will also relocate its headquarters to Austin, Texas, from White Plains, N.Y., in order to be closer to San Antonio-based SBC.

Citrix Systems

(CTXS) - Get Citrix Systems, Inc. Report

shook up its management after news the network-software maker expects to miss analyst earnings estimates.

The company's founder and chairman, Edward Iacobucci, resigned from the company and Mark Templeton stepped down as chief executive but will remain president and a member of the company's board. Roger Roberts has assumed the role of chairman and will act as chief operating officer during the company's search for a new chief executive. Templeton and Roberts will be responsible for the daily operations of the company.

Beef-processing company

IBP

(IBP) - Get Installed Building Products, Inc. Report

edged up 1/8 to 15 9/16 after it said it will recall more than 200,000 pounds of ground beef processed at its Illinois plant, after E. coli bacteria was found in a sample.

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The data on NYSE and Nasdaq percent winners and losers are filtered to exclude stocks whose previous day's volume was less than 25,000 shares; whose last price was less than 5; and whose net change was less than 1/2.