posted fourth-quarter pro-forma earnings of 19 cents a share before items, beating the
First Call/Thomson Financial
27-analyst estimate of 15 cents and the year-ago 4 cents, excluding items. The company said its revenue totaled $201.1 million, up from $91.3 million in last year's fourth quarter, and that its December traffic averaged 465 million page views a day, compared with an average of 167 million the year before. Yahoo! also announced a 2-for-1 stock split effective Feb. 14.
In a report,
analyst Henry Blodget wrote that while revenue and earnings "did not beat the highest estimates, the strength of the fundamental business drivers -- audience, commerce, advertising and communications -- suggests a strong year ahead." Blodget maintained his buy rating on the stock and gave the company an "A" grade for the quarter.
For additional coverage of Yahoo!'s
earnings, check out a separate story from the
Microsoft: Join the discussion on our
In the latest in the government's antitrust case against
, government lawyers appear to have reached an approach that would propose a breakup of the software titan,
reported. Under the plan favored by government lawyers, the software giant would be split into two separate companies, one for its
operating system and another for software, the newspaper reported, citing people familiar with the matter.
Mergers, acquisitions and joint ventures
have entered into a strategic alliance, under which, in part, Humana will leverage Healtheon/WebMD's professional and consumer transaction platforms and its exclusive online and offline media assets in targeted health care markets.
, a nationwide integrated communications provider, said that
Kohlberg Kravis Roberts
, Microsoft and a consortium of banks have agreed to provide it with up to $700 million in strategic financing.
, Intermedia's 81%-owned subsidiary, is receiving a $100 million strategic investment from Compaq and Microsoft.
has entered into a three-year $600 million food and product distribution deal with
Sonera Smart Trust
division would join five certification authority platform providers, including
to develop secure wireless e-commerce.
An association of
U S West
retirees is seeking to block that phone company's merger with
, charging that U S West misused pension funds to enrich shareholders and top officers,
The Wall Street Journal
Two influential pension funds have written the chairman of
questioning the drug company's tactics related to its planned get-together with
American Home Products
reported. The newspaper said that the pension funds are arguing that Warner's board should fully take into account
competing hostile bid. The letter writers are the
California Public Employees' Retirement System
, which owns 3.7 million Warner shares, and Alan Hevesi, comptroller of New York City, the newspaper said. The newspaper reported New York City owns 3.5 million shares of Warner in its pension funds.
Earnings/revenue reports and previews
(Earnings estimates are from First Call/Thomson Financial.)
CEO C. Michael Armstrong reaffirmed the company's 1999 earnings estimates of between $2.15 and $2.20 a share, in line with the 25-analyst estimate of $2.19. The company said it expects to show 1999 pro-forma revenue growth between 5% and 7%, and 2000 pro-forma revenue growth between 8% and 9%, excluding the impact of
, its joint venture with
posted fourth-quarter earnings of 52 cents a share, beating the 21-analyst estimate of 51 cents and up from the year-ago 44 cents.
posted fourth-quarter earnings from continuing operations of 26 cents a share, ahead of the one-analyst estimate of 22 cents, but down from the year-ago 36 cents.
reported fourth-quarter earnings of 35 cents a share, beating the four-analyst estimate of 33 cents and the year-ago 29 cents.
posted fourth-quarter earnings of $1.06 a share, a penny ahead of the 23-analyst estimate and up from the year-ago 86 cents.
Offerings and stock actions
board authorized a plan to repurchase 5%, or 2.4 million, of its outstanding shares of stock.
said it set a 1 million-share repurchasing program.
board approved a 2-for-1 stock split.
Deutsche Banc Alex. Brown
initiated coverage of
with a buy rating.
Alex. Brown sliced its rating on
to market perform from strong buy.
Alex.Brown raised its rating on
to strong buy from buy.
Credit Suisse First Boston
raised its price target on
to 160 from 100.
tapped Jeffrey Brewer as its chairman and Ted Meisel as its CEO.
For analysis of the market's preopen tone and trends, see the Wake-Up Call, now published separately.