Monday's Winners & Losers: American Express, Ticketmaster Online-Citysearch, Varian Medical, Bemis - TheStreet

Updated from 11:28 a.m. EDT

General Electric

(GE) - Get Report

on Sunday agreed to acquire

Honeywell International

(HON) - Get Report

for about $45 billion in stock.

GE will pay 1.055 of its shares for each Honeywell share, or $55 each. As part of the deal, GE Chairman Jack Welch will stay on past his scheduled April retirement date. Welch will remain in his post until the end of 2001 to help merge the two companies.

TheStreet.com/NYTimes.com

joint newsroom covered the

turn of events in a separate story.

GE ended the day down $2.50 to $49.75, while Honeywell moved up $3.94, or 8.6%, to $49.94.

Mergers, acquisitions and joint ventures

RealNetworks

(RNWK) - Get Report

and

Sony

(SNE) - Get Report

announced a strategic alliance in which Sony will use RealNetworks' software in its portable music players and Vaio PCs starting in 2001. Also, RealNetworks will use Sony's audio compression technology in its RealSystem 8, which is used to disseminate audio and video over the Internet. RealNetworks hopped 38 cents higher to $22.38, but Sony fell $1.56 to $95.44.

Ticketmaster Online-Citysearch

( TMCS) shot up $2, or 15.8%, to $14.63 after it said its board was going to appoint a committee to consider possible deals with Ticketmaster, a

USA Networks

(USAI) - Get Report

subsidiary. USA was up 63 cents to $18.63.

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Earnings/revenue reports and previews

Alliant Energy

(LNT) - Get Report

edged up 31 cents to $30.38 on news that it reported third-quarter earnings of 91 cents a share, three cents better than the two-analyst estimate and in line with year-ago earnings.

The company said earnings benefited from lower utility operation and maintenance expenses and increased earnings from the company's oil and gas business.

More people remembered to leave home with their

American Express

(AXP) - Get Report

. The company reported third-quarter earnings of 54 cents a share, in line with the 17-analyst estimate and up from year-ago earnings of 47 cents a share. The company said its profits rose 14%. Still, the company fell $1.69 to close at $54.38.

Bandag

(BDG)

slid 38 cents to $34.31 after it posted third-quarter earnings of 86 cents a share, whipping the two-analyst estimate of 77 cents a share and up from year-ago earnings of 82 cents a share.

The company said even though raw material costs were higher and it had a slight decline in sales revenue, it was able to beat earnings through increased efficiency and price increases.

Bemis

(BMS) - Get Report

sank $5.44, or 18.1%, to $24.69 after it reported third-quarter earnings of 60 cents a share, missing the 10-analyst estimate by a nickel, but up from year-ago earnings of 59 cents a share.

The company blamed higher raw material costs and tighter competition for its missed earnings. The company also said it expects its fourth-quarter results to be the same as the third, and it expects some dilution from its recent acquisitions.

BorgWarner

(BWA) - Get Report

rose $1.56 to $34.69 after it reported third-quarter earnings of 95 cents a share, in line with the 13-analyst estimate, but down from year-ago earnings of $1.02 a share. The company said the weak euro, coupled with its customer

Ford's

(F) - Get Report

temporary shutdown, hurt earnings.

Corning

(GLW) - Get Report

posted third-quarter earnings of 35 cents a share, a penny better than the 14-analyst estimate and up from year-ago earnings of 19 cents a share. The company attributed its growth to increased demand for optical fiber and components for communications networks.

The figures are pro forma net income, which excludes amortization of purchased intangibles and goodwill, purchased in-process research and development, one-time acquisition costs, discontinued operations and other non-recurring items. Including these items, net income in the latest quarter was 28 cents a share, compared with earnings of 18 cents a share a year ago. The stock declined $4.50 to $101.44.

DST Systems

(DST)

dropped $5.88, or 10.1%, to $52.38 after it reported third-quarter earnings of 35 cents a share, beating the four-analyst estimate of 33 cents a share and up from year-ago earnings of 26 cents a share. The company said the per-share figure reflects a 2-for-1 stock split, effective Thursday.

Lexmark International

(LXK)

reported third-quarter earnings of 50 cents a share, beating the six-analyst estimate of 47 cents, but down from year-ago earnings of 56 cents a share. Lexmark lowered its earnings outlook in September, which was followed by a downward revision of

First Call/Thomson Financial's

estimate of 60 cents. The stock jumped $5.56, or 18.9%, to $35.06.

Lexmark said it expects fourth-quarter earnings of between 55 cents and 65 cents a share, or 10% to 15% above year-ago earnings. Also, it said it would take a fourth-quarter charge of $35 million to $45 million, or 19 cents to 24 cents a share, for a restructuring plan that will cut 900 jobs. The charge is mainly to cover the move of its laser printer manufacturing to Latin America and Asia. The company expects the restructuring to save about $100 million by 2002.

3M

(MMM) - Get Report

posted third-quarter earnings of $1.25 a share, a penny better than the eight-analyst estimate and up from year-ago earnings of $1.13 a share. The company's sales increase was partly due to its expanded product line in the Asia-Pacific region. It edged up $2.56 to $89.81.

"We have good momentum and we expect to meet earnings expectations for the fourth quarter and next year," Chairman and Chief Executive L.D. DeSimone said in a statement. "We're confident in our ability to continue to deliver solid, consistent earnings growth."

The maker of Post-It notes (among other products) said it expects to meet estimates for the fourth quarter of $1.21 and next year of $5.27.

RadioShack

(RSH)

posted third-quarter earnings of 39 cents a share, a penny better than the 18-analyst estimate and up from year-ago earnings of 29 cents a share. It was boosted up $3.25, or 6.2%, to $56.

Varian Medical Systems

(VAR) - Get Report

was lifted $3.44, or 8.1%, to $46 after it raised its estimates for its fourth quarter to 74 cents and fiscal year 2000 to $1.67 for the full year. First Call/Thomson Financial's three-analyst estimate for the fourth quarter is currently 70 cents and for the full year, $1.62.

The company attributed the improved outlook to the sales growth of its new "smart" radiotherapy systems, which treat cancer using a technique that delivers a higher dose of radiation to tumors while reducing exposure of surrounding healthy tissues.

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Analyst actions

This morning,

UBS Warburg

reiterated its hold rating on

Coca-Cola

(KO) - Get Report

as well as its 12-month price target of $61. But the firm cut its fourth-quarter EPS view to 39 cents a share from 41 cents and 2001 EPS view to $1.70 from $1.75.

And while

Salomon Smith Barney

cut the company's fourth-quarter EPS view to 39 cents a share from 41 cents, it said it would use Coca-Cola's weakness as a long-term buying opportunity. Last week, Coca-Cola posted profits that narrowly beat estimates, but said the weak euro could put pressure on future earnings. The stock managed to move up 50 cents to $55.31.

Upgrades

Anheuser-Busch

(BUD) - Get Report

: 12-month price target UP to $50 from $46 at

Sanford Bernstein

and third-quarter EPS view to 57 cents from 56 cents. The stock ended the day unchanged at $41.88.

Merck

(MRK) - Get Report

: UP to outperform from neutral at Salomon. It moved up $2.88 to $84.75.

Silicon Valley

(SIVB) - Get Report

: UP to strong buy from accumulate at

Prudential Securities

. Silicon Valley rose $2, or 5%, to $42.

SunGard Data

(SDS) - Get Report

: UP to strong buy from neutral at

Morgan Stanley Dean Witter

. The stock was off 19 cents to $45.94.

Downgrades

Classic Communications

( CLSC): REMOVED from

Goldman Sachs'

recommended for purchase list. Classic Communications decreased $1.50, or 26.09%, to $4.25.

Federal-Mogul

(FMO) - Get Report

: DOWN to underperform from market perform at

Deutsche Banc Alex. Brown

. Federal-Mogul fell 44 cents, or 11.9%, to $3.25.

Micron Technology

(MU) - Get Report

: 2001 EPS view DOWN to $3.50 from $4 at Goldman Sachs. Micron Technology increased $1.19 to $36.13.

SouthTrust

(SOTR)

: DOWN to market perform from long-term buy at

J.P. Morgan

. SouthTrust dropped 44 cents to $29.50.

Wilmington Trust

( WL): DOWN to market perform from long-term buy at J.P. Morgan. Wilmington Trust lowered 69 cents to $48.69.

Initiations

Cosine

(COSN)

: NEW market perform at Goldman; NEW buy at J.P. Morgan. Cosine missed $5.06, or 10.73%, to $42.13.

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Offerings and stock actions

Research in Motion

( RIMM) filed in the U.S. and Canada for a proposed public offering of 6 million common shares. Research in Motion lifted $5.86 to $123.23.

In a press release, the company, which makes wireless products for the mobile personal-communications market, said the offering is being managed by

Merrill Lynch

,

Credit Suisse First Boston

,

Goldman Sachs

,

Banc of America Securities

and others.

Research in Motion said it will grant the underwriters an option to purchase an additional 900,000 common shares to cover over-allotments. At last report, the company had about 68.8 million outstanding shares. The stock ended the day down $5.06, or 4%, to $117.38.

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Miscellany

Lucent

( LU) ousted Chairman and CEO Rich McGinn and

replaced him with former chairman Henry Schact.

The company also cut its guidance for the first quarter of 2001, marking the fourth time this year it lowered its outlook.

First Call/Thomson Financial's

12-analyst estimate for its 2001 first quarter was 23 cents a share, while year-ago earnings were 33 cents a share. Lucent fell 56 cents to $22.06.

Stamps.com

(STMP) - Get Report

said it

reduced its workforce by about 240 employees in a restructuring move to streamline operations. Stamps.com rose 6 cents to $2.78.

The Internet mailing and shipping services provider said the layoffs affected full-time, part-time and contract employees across all locations, including Santa Monica, Calif., and Bellevue, Wash.

Earlier this month, the company announced the resignation of chairman and CEO John Payne. It also said Chief Financial Officer John LaValle and Comptroller Candelario Andalon left the company to pursue other interests.

Teligent

( TGNT) is in talks with several equity investors, banking institutions and vendors for additional financing to fund its operations. The broadband company said it has enough cash resources to fund operations into the second quarter of 2001. Teligent slipped 88 cents, or 9.56%, to $8.28.

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