expects first-quarter revenue to exceed $62 million and it expects to post a loss before noncash charges of less than $90 million. The company said it expects to announce its first-quarter results late this month or in early May.
Separately, two directors of Healtheon/WebMD, Jim Clark and John Doerr, have asked the company to grant an exception to its trading window restrictions so they can buy up stock. Clark wants to buy up to $200 million, while Doerr intends to invest up to $20 million.
Mergers, acquisitions and joint ventures
upped its stock offer for ice cream competitor
Ben & Jerry's Homemade
to roughly $35 to $38 a share, reported
The Wall Street Journal
has made a
second bid for privately held fashion house
The Wall Street Journal
reported. Warnaco made another bid for the company in the wake of the failure of merger talks between Calvin Klein and
, the newspaper reported, citing people familiar with the situation. The new bid is said to be under the $1 billion asking price and is subject to due diligence, according to the
Separately, Tommy Hilfiger said it anticipates overall revenue for fiscal 2001 will be unchanged to 5% lower, compared to fiscal 2000. It warned that it expects net income for the year ending March 31, 2001, to be 30% to 40% lower than fiscal 2000, excluding special charges to be taken in the fourth quarter of fiscal 2000. The company expects fourth-quarter earnings, before special charges, to come in at the lower end of the previously stated range of 35 cents to 45 cents. The 15-analyst estimate calls for the company to earn 39 cents a share in the fourth-quarter fiscal 2000 period.
Tommy Hilfiger also said its board had approved a stock buyback program of up to $150 million.
Offerings and stock actions
, the Dutch semiconductor equipment maker, set the price for its offer of five million shares at $29 a share. The company is offering 3.5 million shares and
is offering 1.5 million.
upped the size of its secondary offering to 7.7 million shares from 7 million. The offering is priced at $100 a share.
said its shareholders would vote to set a 2-for-1 stock split on April 27.
Credit Suisse First Boston
priced a 10 million-share IPO for
at the low end of its $22 to $24 price range, $22.
priced a 4 million-share IPO for
below its expected price of $10, at $8 a share.
First Boston priced a 5.5 million-share for
above its expected $11 to $13 price range, at $14 a share.
Earnings/revenue reports and previews
(Earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified.)
said it expects to post first-quarter earnings of roughly 7 cents a share, which would beat the 18-analyst estimate of 3 cents.
said Howard Schultz will
step down as CEO to take a more visionary role at the company, focusing on long-term strategy. Schultz, whose resignation will be effective June 1, will stay on as chairman of the Seattle-based company and will assume the newly created title of chief global strategist. He will be succeeded by COO and President Orin Smith.
The company also reported that March
same-store sales rose 10%.
The Inside Wall Street column this week in
written by Gene Marcial says that
, the satellite company, 69% of whose stock is owned by
, is a buyout target.
The column also offers up bullish pieces on
Carolina Power & Light
, the pharmacy chain.
, the discount retailing chain, is voluntarily recalling about 280,000 "Little Ones" children's decorative lamps. KMart said the lamps can short-circuit, and pose a fire hazard.
Prosecutors in the federal antitrust probe of auction house giants
have evidence that a plan to restrict competition by fixing commissions charged to buyers was set in motion by the chairmen of the two firms at the time,
The New York Times
reported, citing people involved in the probe. The two chairmen, Sotheby's A. Alfred Taubman and Christie's Sir Anthony Tennant, talked about the arrangement in person and then instructed their chief executives to carry out the plan, according to the
For analysis of the market's preopen tone and trends, see the Wake-Up Call, published separately.