Deutsche Telekom

(DT) - Get Report

has made separate offers to take over

Qwest Communications

(Q)

and

U S West

(USW)

, in transactions that could total more than $100 billion,

The Wall Street Journal

reported, citing people familiar with the situation. Qwest and U S West, a Baby Bell, agreed to merge last year.

Mergers, acquisitions and joint ventures

Southeastern Asset Management

, in a regulatory filing, said it has acquired a 6% stake in troubled heath insurer

Aetna

(AET)

. Aetna is reviewing a $70-per-share acquisition offer received a couple of weeks ago from

WellPoint Health Networks

(WLP)

and

ING America Insurance

, a unit of Dutch bank-insurer

ING Groep

(ING) - Get Report

.

Covad Communications

(COVD)

, a broadband services provider, is acquiring

LaserLink.net

for $387 million in stock, based on yesterday's closing price of Covad stock.

A bunch of news out of the world of German banking.

Deutsche Bank

is

taking over

Dresdner Bank

for $30 billion. Meanwhile,

Reuters

reported that German newspaper

Die Welt

said that

HSBC

(HBC)

is planning to mount a hostile takeover bid for

Commerzbank

.

Software.com

(SWCM)

, a developer of carrier-scale, Internet infrastructure applications, is buying

@mobile.com

for $400 million in stock.

United Pan-Europe Communications

(UPCOY)

plans to buy

SBS Broadcasting

(SBTV)

for $2.8 billion in stock and cash.

Earnings/revenue reports and previews

(Earnings estimates are from

First Call/Thomson Financial

)

Lands' End

(LE) - Get Report

posted fourth-quarter earnings of 92 cents a share, well below the eight-analyst estimate of $1.09 a share and down from the year-ago $1.07. The company said that for the first half of fiscal 2001, it expects sales to rise "in the mid-single digits." It also said it expects a "strong increase in earnings" in the first half of fiscal 2001.

H.J. Heinz

(HNZ)

posted third-quarter operating earnings of 63 cents a share, a penny ahead of the 17-analyst estimate and up from the year-ago 60 cents.

ShopKo Stores

(SKO)

posted fourth-quarter operating earnings of $1.74 a share, beating the five-analyst estimate of $1.70 and above the year-ago $1.53 a share.

Vail Resorts

(MTN) - Get Report

posted second-quarter net income of 31 cents a share, a penny higher than the nine-analyst estimate, but down from the year-ago 47 cents.

Analyst actions

Warburg Dillon Read

initiated coverage of

American Dental

(ADPI)

as a buy with a price target of 13.

Deutsche Banc Alex. Brown

initiated coverage of

Ann Taylor

(ANN)

with a market perform rating.

DB Alex. Brown initiated coverage of

bebe stores

(BEBE)

with a market perform rating.

Credit Suisse First Boston

restarted coverage of

Brooks Automation

(BRKS) - Get Report

with a buy rating and set a price target of 95 on the stock.

DB Alex. Brown started

Charlotte Russe

(CHIC) - Get Report

with a buy rating and set a price target of 21 on the stock.

Hambrecht & Quist

initiated coverage of

Clarus

(CLRS)

with a buy rating.

Warburg Dillon Read initiated coverage of

Honeywell

(HON) - Get Report

as a strong buy with a 12-month price target of 69.

Warburg Dillon Read initiated coverage of

Lennox

(LII) - Get Report

with a buy rating and a price target of 18.

DB Alex Brown initiated coverage of

Men's Wearhouse

(SUIT)

with a buy rating and set a price target of 42 on the stock.

Warburg Dillon Read initiated coverage of

Pets.com

(IPET)

with a buy rating and a 20 price target.

Warburg Dillon Read initiated coverage of

Radiologix

(RDLX)

as a buy with a 12-month price target of 10.

DB Alex. Brown initiated coverage of

Talbots

(TLB)

with a buy rating and set a price target of 51 a share.

Goldman Sachs

initiated coverage of

Trigon Healthcare

(TGH) - Get Report

as a buy.

Lehman Brothers

downgraded

Triton PCS

(TPCS)

to neutral from buy based on valuation.

Miscellany

Standard & Poor's

said

Sabre Holdings

(TSG) - Get Report

will replace

Service Corp.

(SRV) - Get Report

in the

S&P 500

index, effective March 15.

TeraBeam Networks

, a privately-owned company based in Seattle, named Dan Hesse, former president and CEO of

AT&T's

(T) - Get Report

wireless unit, as CEO and president of TeraBeam. Meanwhile, AT&T said Mohan Gyani will succeed Hesse as president and CEO of its wireless division. Gyani is the former CFO of

AirTouch Communications

, which was taken over by

Vodafone

to form

Vodafone AirTouch

(VOD) - Get Report

. AT&T plans to conduct an IPO of

AT&T Wireless Group

tracking shares this spring. The new stock will track the performance of AT&T's voice and data mobility businesses, as well as its fixed-wireless business and ownership interests in international wireless operators.