said last night that "a major telecommunications company" pulled out of talks to acquire it and
U S West
, which are already planning to merge. The major telecom firm mentioned by Qwest has been identified in numerous published reports as
. Qwest placed some blame on U S West for the potential acquirer pulling out of the takeover talks.
Mergers, acquisitions and joint ventures
, a provider of integrated telephone, Internet and data services to business and residential customers in targeted markets in the U.S., is acquiring
ATX Telecommunications Services
, a privately held company, for $900 million.
set a pact with
to create and market drugs based on antibodies.
is expected to talk to the
Federal Trade Commission
about acquiring some of Arco's crude oil assets in Alaska, according to
The Wall Street Journal
Earnings/revenue reports and previews
Earnings estimates are from
First Call/Thomson Financial
said it expects the IPO for its
portal unit in early April due to
Securities and Exchange Commission
delays. CMGI also said its revenue will increase at a rate of 20% on a quarter-over-quarter basis through 2000.
Crown Central Petroleum
has received an acquisition offer of $9.20 a share from
for all of Crown Central's Class A and Class B common stock. The proposal will expire at 5 p.m. on Friday, March 17, Crown Central said.
said it expects to post fiscal 2000 earnings 10% to 12% below the year-ago report. Dial is also forecasting first- and second-quarter sales to decline 3% to 5% from 1999.
said it expects to report first-quarter earnings 20% above the seven-analyst estimate of 35 cents a share.
Offerings and stock actions
cut the number of shares in its IPO to 179 million from 255 million and reduced the estimated price range to $13 to $15 a share, from $14 to $19. The new terms were revealed in an amended filing with the SEC.
MetLife now will sell 73 million shares of common stock in a concurrent private placement to
Banco Santander Central Hispano
Credit Suisse Group
at the IPO price. The company plans to net about $3.4 billion from the IPO and the private stock sales, based on a $14-per-share initial price. Originally, MetLife had intended to raise as much as $6.5 billion in its public offering.
said it priced a 4.2 million share secondary offering at $140 a share. Quest also set a 2-for-1 stock split.
board approved a 4-for-1 stock split.
started coverage of
with a buy rating.
Credit Suisse First Boston
rolled out coverage of
with a buy rating and a price target of 90.
Credit Suisse initiated coverage of
with a strong buy and set a price target of 28.
Morgan Stanley Dean Witter
raised its fiscal 2000 earnings estimates on
to $3.00 a share from $2.95 and its fiscal 2001 estimates to $3.10 a share from $3.05.
Warburg Dillon Read
initiated coverage of
with buy ratings.
Warburg Dillon Read rolled out coverage of
with a strong buy rating and a price target of 75.
said Vice Chairman Shelby Bonnie has been named CEO, while Halsey Minor, CNET's founder and current CEO will continue as chairman.
introduced a dedicated video game console, code-named
The Inside Wall Street column in
this week penned as usual by Gene Marcial, shines a positive light on
American Home Products
. Robert Lyon, president and chief investment officer of
in Chicago, thinks
, the Swiss drug giant, will try to acquire AHP before long, the column reported.
Also garnering positive mention is
. The column, citing an unnamed investor close to the company's management, said that Concord, in conjunction with a big overseas cell-phone maker, has developed a phone capable of taking pictures that can be transmitted to the Net via cellular airwaves.
receives positive mention in the column.