Updated from 9:49 a.m. EST

AOL Time Warner

(AOL)

may use a meeting with analysts on Monday to lower its 2002 estimate for earnings before interest, taxes, depreciation and amortization, according to various media reports. The report indicated that AOL could lower its EBITDA expectation for this year to $10.3 billion from $11.6 billion.

Earnings Reports & Outlooks

Footstar

(FTS) - Get Report

said same-store sales for December fell 5.7%. Total sales rose 3.5% to $292.1 million. Based on the results, the company expects to earn 60 cents a share in the fourth quarter, well below analysts' expectations of 84 cents.

Jack in the Box

(JBX)

said December same-store sales were flat. The restaurant chain now expects comparable-store sales to tick up 0.6% for the first quarter and 1% for the year. The company still expects to meet Wall Street's earnings forecast of 64 cents for the quarter and $2.18 for the year.

MapInfo

(MAPS)

forecast a first-quarter loss of 10 cents to 13 cents a share and revenue of $22 million to $23 million. Analysts expect the company to lose 4 cents a share, according to First Call.

P.F. Chang's China Bistro

(PFCB)

said same-store sales rose 3.5% in the fourth quarter. Total revenue for the quarter climbed 30% to $89.3 million. Based on those sales, the company now expects to exceed its previous earnings guidance of 30 cents to 32 cents a share for the quarter.

Tenet Healthcare

(THC) - Get Report

reported second-quarter earnings of 77 cents a share, topping estimates by 7 cents. The company now expects earnings from operations of $3.10 a share for fiscal 2002. Analysts expect income of $2.95.

Mergers, Acquisitions & Joint Ventures

Dynegy

(DYN)

will now have the option to acquire the Northern Natural Gas pipeline after the company settled a lawsuit with units of

Enron

(ENE)

. Dynegy and Enron have agreed to close the deal by the end of January. Dynegy, in return, has agreed to extend Enron's option to repurchase the pipeline to June 30 from May 9. The settlement doesn't affect the rights of either Dynegy or Enron in connection with the terminated merger agreement between the companies. Dynegy still plans to pursue its claims against Enron alleging that the now-bankrupt energy merchant breached the pact.

Micron Technology

(MU) - Get Report

TST Recommends

is preparing to buy

Hynix Semiconductor's

DRAM business for $4 billion to $5 billion and invest in the company's non-DRAM operations, with an agreement to be signed by the end of January, according to reports coming out of Korea.

Willamette's

(WLL) - Get Report

board decided to continue negotiations with

Georgia-Pacific

(GP)

regarding the acquisition of the company's building materials business. The board also said it would reject the $55 a share hostile takeover offer from

Weyerhaeuser

(WY) - Get Report

.

Analyst Actions

Salomon Smith Barney downgraded

Conseco

(CNC) - Get Report

to avoid, its lowest rating, from underperform, based on a deteriorated manufactured housing loan pool performance through the first two months of the fourth quarter.

Banc of America said

EMC's

(EMC)

fundamentals are poised to improve over the next few quarters. The firm also maintained its buy rating, raised its earnings estimates on EMC for 2001 and 2002 and increased its price target on the data storage company's stock to $20.

Salomon Smith Barney is talking up

Intel

(INTC) - Get Report

, saying that all indicators show the company had a strong finish to the fourth quarter. Salomon kept its buy rating on the stock and raised its fourth-quarter and 2002 estimates for Intel. The firm also set a new price target of $45, up from $40.

Prudential issued positive comments on

Sears

(S) - Get Report

, saying that the company will likely exceed fourth-quarter expectations. The firm recommended buying the stock before the retailer's Jan. 17 earnings release.

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