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Stocks to Watch: Cisco Beats Earnings Estimates, Sets 2-for-1 Stock Split

Imclone enters vaccine licensing deal With SmithKline Beecham.



posted pro forma earnings after yesterday's close of 25 cents a share, a penny ahead of the 34-analyst estimate and up from the year-ago 17 cents. The company also set a 2-for-1 stock split. Cisco cited strength in its end-to-end Internet solutions for each of its key markets. In premarket activity, Cisco shares were trading up at 133 3/8 from yesterday's closing price of 125 13/16.

For more details on Cisco's

earnings, see a separate story from the

joint newsroom.

Mergers, acquisitions and joint ventures

Imclone Systems


said it has entered a licensing deal with

SmithKline Beecham


that involves a meningitis vaccine.




KPMG International

entered a pact to help companies develop e-business. According to KPMG, the consulting service would be called

Microsoft practice

and would use Microsoft's Windows 2000, which is set for release next week.


European Union

competition chief Mario Monti said it has started a probe into the possibility that Windows 2000 infringes on the EU's antitrust law.



said it, along with its partners






, would roll out a new way to access e-commerce Web sites with Internet-compatible WAP mobile phones in 2000.

Separately, IBM is set to launch its new Deep Blue computer that contains copper-chip technology.

Portugal Telecom


denied newspaper reports that it would sell a 10% interest in new Internet division PT Multimedia to Brazil-based


, calling it "unfounded."

Earnings/revenue reports and previews


Earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified.


Harrah's Entertainment


posted fourth-quarter earnings of 30 cents a share, in line with the 19-analyst estimate and up from the year-ago 24 cents.

Time Warner Telecom


reported a fourth-quarter loss of 2 cents, narrower than both the four-analyst estimate of a 15-cent loss and the year-ago 30-cent loss.

Offerings and stock actions



said it set a 3-for-1 stock split.

Robertson Stephens

priced a 5 million-share IPO for



at $18 a share.




said after yesterday's close that a hacker attack had shut down its site. eBay's problem marked the third "denial of service" attack on a major Web site in just two days. Yesterday afternoon,


, whose shares were enjoying a trading debut, said a similar type of attack crippled its site for about three hours, while



was faced on Monday with similar problems, also linked to hacker activity.



will see patents for five of its biggest drugs expire within the next two years, but the company said business will remain in check,

The Wall Street Journal


For analysis of the market's preopen tone and trends, see the Wake-Up Call, published separately.