, a provider of physician-practice management systems, and its publicly traded subsidiary
. Under terms of the deal, Healtheon/WebMD will pay 1.65 shares, or $90.75 a share, for a total of $3.2 billion in stock, for Medical Manager, and 1.3 shares, or $71.50 a share for CareInsite shares not owned by Medical Manager. Medical Manager owns 69% of CareInsite.
for $920 million in stock and cash. Tallan provides Internet and e-commerce professional services. CMGI said the purchase will grow its billable resources by 350% and expects the deal to close by May.
Mergers, acquisitions and joint ventures
said it will buy
for about $2 billion in stock. Corning will swap 0.9 of its shares for each NetOptix share and said the deal will be mildly dilutive in 2000 and accretive in 2001. Corning also said it formed an equity venture named Samsung Corning Micro-Optics.
are set to enter a bidding war over
, an insolvent South Korean car maker,
The Wall Street Journal
is also considering making a move, the story said. The successful bidder will have the potential to be the world's biggest automaker.
said its tender for
is not being extended. NiSource said 58.6% of Columbia's shares had been tendered at the expiration.
. said it will invest $260 million in its optical networking business and create 3400 new jobs globally. Nortel also announced a broad patent cross-licensing agreement with
, under which the companies will have rights to each other's patent portfolios.
is expected to buy
, a U.S. oil exploration joint venture of
, for $3.5 billion, the
The Yucaipa Companies
Pequot Capital Management
are investing a total of $120 million in
, an Internet grocer.
said it will buy
for $850 million in stock. OneBox.com shareholders will get 6.5 million Phone.com shares.
has set a five-year pact with
, an "Internet-to-door delivery service," under which Starbucks will receive $150 million from Kozmo.com for in-store exposure and comarketing. Kozmo.com said the deal with Starbucks will help its planned expansion into new markets around the country. Kozmo.com currently has operations in New York City, Boston, Washington, D.C., San Francisco and Seattle.
set a deal with
, the telecommunications unit of industrial powerhouse
, to offer fixed-wireless communications services in Germany.
set a strategic pact for the global trading of energy commodities. Texaco will take a minority equity stake in TradeCapture.com and use its Internet-based trading platform for its crude oil and refined products trading activities.
plan to launch
, a joint venture devoted to developing and operating an open electronic marketplace for aerospace products and services available to all industry players.
agreed to merge in a deal that could be worth about $523 million. World Access also agreed to acquire privately-held
Communication Telesystems International
for about 31 million shares, or about $709 million.
Earnings/revenue reports and previews
Earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified.
reported fourth-quarter operating net income of $1.36 a share, 3 cents ahead of the
First Call/Thomson Financial
19-analyst estimate and up from the year-ago $1.09.
said first-quarter earnings per share could be off 10% from the year-ago 95 cents. Maytag said it sees full-year results within the lower end of the $3.80 to $4.00 range. The current nine-analyst estimate calls for $3.91 a share.
Offerings and stock actions
Nasdaq Stock Market
said the board of
Nasdaq Investment Product Services
, the sponsor of the
Nasdaq 100 Trust
approved a 2-for-1 stock split. The payment date for the split will be March 17, payable to stockholders of record on Feb. 28.
said it sold 6.1 million common shares in a private placement offering.
raised its rating on
to outperform from neutral.
Warburg Dillon Read
to strong buy from buy.
to hold from buy.
Merrill Lynch said it cut its rating on
to accumulate from buy but kept a long-term buy rating on the stock.
H. Eugene Lockhart, head of
shrinking $22 billion consumer business, will leave the long-distance company after one year to join a small start-up company.
said J. Donald Nichols has resigned as CEO.
named Thomas Patrick CFO and John Steffens was named chairman of the brokerage titan's U.S. private client group.
Switzerland's price regulator said he was launching an investigation into
software prices after an initial probe backed complaints from consumer groups that they were paying too much.
Rupert Murdoch is planning to consolidate
global satellite operations and investments into a new public company, the
reported, citing people familiar with the situation. The move comes in response to criticism the company lacks a digital strategy, the story said.
is expected to announce an aggressive marketing strategy in the wake of
disappointing IPO last week, the
The Heard on the Street column in the
says shares of Steve Wynn's
are down more than 50% from their 52-week high in May. According to the story, Wynn's lack of good communication with Wall Street analysts hasn't done any favors for Mirage's share price. At times, Wynn has insulted and chastised his investors and withheld key information about hotel operations, the story says. Musing on the analysts who cover Mirage, Wynn is quoted as saying, " I was surprised... They were dumber than I thought".
For analysis of the market's preopen tone and trends, see the Wake-Up Call, now published separately.