said they have entered a European wireless data venture that will concentrate on financial markets. Aether would hold an initial 60% stake in the company and invest $100 million in cash, while Reuters would control the remaining 40%, making a $22 million investment. The company, to be based in Britain, would create and manage wireless data systems for professional and retail investors.
Separately, Reuters said it was considering an IPO for its
online brokerage division.
Mergers, acquisitions and joint ventures
would use Brocade's Silkworm switches in its data storage networks project.
said it would receive a 5.4% interest in
due to Kana's $4.2 billion purchase of CMGI's minority investment in
said it entered a deal to sell its Wavepacer digital subscriber product-line assets to
said it has agreed to purchase Britain-based
, in a deal valued at $500 million. According to the terms, Paragon shareholders would receive roughly 3.6 million shares of Phone.com and $7.5 million in cash.
Earnings/revenue reports and previews
Earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified.
posted fourth-quarter earnings of 31 cents a share, a penny better than the four-analyst estimate and up from the year-ago 27-cent profit.
posted fourth-quarter earnings of 47 cents a share, in line with the six-analyst estimate and up from the year-ago 40 cents.
posted fourth-quarter earnings of 10 cents a share, in line with the two-analyst estimate and up from the year-ago loss of 5 cents.
reported fourth-quarter earnings of 18 cents a share, missing the eight-analyst estimate of 19 cents and down from the year-ago 41 cents.
Offerings and stock actions
priced 14 million shares of
at $13 each, above the expected range of $10 to $12. The company is an Internet retailer of goods ranging from computers to books.
priced a 4 million-share IPO for
at $12 a share.
said it set it 7.73 million-share secondary offering at $247 a share.
dropped its auction commissions, sparking a possible price war with rival
, reported in
The Wall Street Journal
. According to
, Christie's decision to cut the commissions would make art more expensive to buy and cheaper to sell.
The tobacco industry is expected to be hit with another class-action lawsuit claiming that major U.S. cigarette companies have illegally fixed prices since the 1980s,
The Wall Street Journal
reported. According to
Brown & Williamson
are expected to be named in the proceedings.
For analysis of the market's preopen tone and trends, see the Wake-Up Call, published separately.