last night posted fourth-quarter earnings of $1.12 a share, ahead of the
First Call/Thomson Financial
24-analyst estimate of $1.06, but down from the year-ago $1.24.
IBM said fourth-quarter net income was $2.1 billion, down from the year-ago $2.3 billion.
Big Blue's chairman and CEO,
Louis V. Gerstner Jr.
, said in a statement:
As we had anticipated, the Y2K issue hit us hard in the fourth quarter. Many of our large customers -- who handle much of the world's critical data -- had locked down their computer systems as they prepared for the Y2K transition. While we are pleased that this transition is proceeding smoothly for our customers, these lockdowns had a significant negative impact on our revenues and earnings in the quarter.
said it will acquire
from majority owner
for 32 million shares. Based on Engage's closing price of 77 yesterday, the deal is valued around $2.6 billion.
wireless unit announced a cell phone pact with
agreed to merge in a $300 million deal.
Earnings/revenue reports and previews
Earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified.
posted second-quarter earnings last night of 9 cents a share, a penny better than the 32-analyst estimate and up from the year-ago 4-cent profit, which has been adjusted to reflect two stock splits. The Internet giant said the online shopping and advertising boom pushed revenue up 41%, to $1.6 billion, while subscribers to its flagship service reached 20.5 million, a 1.8 million increase from the first quarter. On Jan.10, AOL said it had entered a $144 billion deal to buy
AOL: Join the discussion on
Advanced Micro Devices
reported fourth-quarter earnings late Wednesday which include restructuring and other charges of 43 cents a share. The report was up from the year-ago 15 cents a share. The 20-analyst estimate, which does not include charges, was for a penny.
posted fiscal first-quarter earnings last night, excluding items, of $1.00 a share, well ahead of the 21-anlalyst estimate of 90 cents and up from the year-ago 95 cents.
Credit Suisse First Boston
upped its 2000 earnings estimates on Apple to $3.45 from $3.25.
Donaldson Lufkin & Jenrette
raised Apple's price target to 120 from 100 and reiterated its top pick rating.
reported fourth-quarter earnings of 56 cents, in line with the 12-analyst estimate and a penny better than the year-ago earnings.
reported fourth-quarter earnings of 89 cents a share, in line with the 18-analyst estimate and up from the year-ago 65 cents.
reported fourth-quarter earnings from continuing operations of $1.86 a share, above the 16-analyst estimate of $1.81, but down from the year-ago $2.48. Fourth-quarter income totaled $1.1 billion, down from the year-ago $1.7 billion.
reported fourth-quarter earnings of 62 cents, a penny better than the 14-analyst estimate.
posted fiscal third-quarter earnings before goodwill of 42 cents a share, above the 16-analyst estimate of 37 cents and up from the year-ago 22 cents.
reported fourth-quarter earnings of 59 cents a share, in line with the 16-analyst estimate and up from the year-ago 53 cents a share.
posted fourth-quarter earnings of 31 cents a share, ahead of the 11-analyst estimate of 24 cents.
reported first-quarter earnings of 83 cents a share, above the six-analyst estimate of 81 cents and the year-ago 66 cents.
reported fourth-quarter income of 93 cents, beating the 12-analyst estimate of 91 cents, but just under the year-ago earnings of 95 cents.
reported fourth-quarter earnings of $1.98 a share, beating the 15-analyst estimate of $1.77, and up from the year-ago $1.48, which excluded items.
posted operating earnings for the fourth quarter of 22 cents a share, in line with the 15-analyst estimate, but down from the year-ago 27 cents.
reported fourth-quarter earnings of 18 cents, beating the 19-analyst estimate of 10 cents but down from the year-ago 55 cents.
posted fourth-quarter net income of 83 cents a share, ahead of the 16-analyst estimate of 77 cents and up from the year-ago 65 cents.
Offerings and stock actions
Dutch semiconductor equipment company
said it planned to propose a 3-for-1 stock split in March.
said it would file to offer 5 million common shares and will use the offering to repay about $35.3 million in debt.
to outperform from buy.
initiated coverage of
with a buy rating and set a 12-month price target of 250 on the stock.
Chicago Board of Trade
is ditching its member-owned structure and splitting itself into two companies: open outcry and electronic trading,
reported. The news agency said that in a letter to CBOT members, the CBOT's chairman, David Brennan, said that current members will become shareholders in the two new companies.
The Heard on the Street column in
The Wall Street Journal
reports that some on Wall Street say lately there's been a change of attitude among investors toward the Internet sector, which could signal the beginning of the long-anticipated winnowing of Net companies by investors. The column quotes widely followed Internet analyst Henry Blodget at
as saying: "Now investors can pick and choose carefully and decide which companies are around for the long haul and which only came public because there was such a rage for anything Internet. There is not a reason to own the stock of a weak Internet company anymore."
For analysis of the market's preopen tone and trends, see the Wake-Up Call, published separately.
As originally published, this story contained an error. Please see
Corrections and Clarifications.