Shell

, a unit of

Royal Dutch Petroleum

( RD), and

Saudi Aramco

agreed to buy out

Texaco's

(TX) - Get Report

share of a three-way joint venture, a move that will allow

Chevron

( CHV) to buy Texaco and be in compliance with U.S. Federal Trade Commission conditions for the acquisition.

Earnings Reports & Warnings:

Akzo Nobel

(AKZOY)

, a Dutch chemical group, reaffirmed its 2001 earnings targets, calling for double-digit growth in its Pharma Group.

Pepsi Bottling Group

( PBG) said it earned $150 million, or 96 cents a share, in the third quarter, up from the $123 million, or 82 cents a share, in the year-ago period. Analysts were expecting 95 cents. The company also forecast full-year earnings of $1.86 to $1.88 a share, which is on the upper end of its previous $1.84 to $1.88 range.

Drugstore chain

Rite Aid

(RAD) - Get Report

said same-store sales rose 6.1% in September compared with the year-earlier month. Total drugstore sales jumped 3.5% to $1.12 billion.

Miscellaneous News:

Credit Suisse First Boston

, a unit of

Credit Suisse Group

( CSR), cut 2,000 jobs in an attempt to save $1 billion by the end of next year.

Fannie Mae

( FNM) plans to sell $5 billion of three-month bills due in January, $2 billion of six-month bills due in April, and $2 billion of one-year bills due next October in a Dutch auction on Wednesday.

After Monday's Close:

First Data

(FDC) - Get Report

posted third-quarter earnings from continuing operations of 69 cents a share. Analysts were looking for income of 66 cents. Revenue reached $1.6 billion, up 13% from the same period a year ago.