Updated from 4:05 p.m. EDT
Barnes & Noble.com
( BNBN) closed the session down 31/32, or 18.9%, to 4 5/32 after it posted wider-than-expected second-quarter losses. The New York-based company reported a 27-cent loss, missing the five-analyst estimate of an 18-cent loss and below the year-ago 17-cent loss. The online bookseller said it still expects to turn a profit within two years. For more on these earnings results, take a look at
announced that it expects earnings of 62 cents a share for the third-quarter ended July 29, a penny behind the seven-analyst estimate and below the year-ago 67-cent profit.
Additionally, Synopsys warned it will post an earnings shortfall for the fourth quarter of fiscal 2000 and for all of fiscal year 2001 because it will adopt a new method of selling product licenses. The company said it expects a loss of 45 cents a share for the fourth quarter and earnings of 90 cents a share for fiscal 2001. Wall Street estimated Synopsys to come in at 77 cents for the fourth quarter and $3.39 for fiscal 2001. The stock was cut to buy from strong buy at
. Synopsys finished lower 1 1/16 to 31 1/2.
For more on the profit warning, take a look at
Mergers, acquisitions and joint ventures
and Japanese mobile phone giant
have agreed to jointly develop wireless Internet services in Japan, according to
The Wall Street Journal's
discussed the makings of this deal in an earlier
America Online Latin America
( AOLA), a joint venture between America Online and Venezuela's
, cut the estimated price range of its IPO to $8 to $10 a share from $15 to $17, according to underwriter
Salomon Smith Barney
. AOL slipped 3/4 to 52 1/2.
said it will buy privately-held
Trillium Digital Systems
in a deal valued at $300 million in cash and unregistered Intel common stock, to bolster its telecommunications and network package to customers. Intel dropped 2 1/8 to 64 5/8.
said they bought $190 million worth of shares in
( NT) said it won a $300 million data-network equipment contract from
. Liberty Media declined 9/16 to 21 11/16, while priceline.com advanced 1 5/16 to 24 15/16.
announced a marketing deal with
, a unit of
, to expand Verizon's presence in RadioShack stores. According to terms of the deal, Verizon products will be offered in about 75 percent of RadioShack locations. Before, they were offered in only about 40% of the chain. RadioShack climbed 3 1/16, or 5.4%, to 59 7/16, while Verizon Communications increased 1 3/16 to 47 15/16.
, an Irish educational software company, announced that it will purchase
. Riverdeep plans to issue 4.6 million ADRs, valued at $85 billion. The deal gives IBM a 14% stake in Riverdeep. Shares of Riverdeep edged up 1/8 to 18 7/8, while IBM fell 1 11/16 to 110 9/16.
After Monday's Close
said it agreed to a stock-for-stock merger with Chicago-based
. Singapore-based Flextronics said it will swap about 8.33 million of its shares for Chatam's outstanding stock, warrants and options. Flextronics increased 17/64 to 71 1/16.
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Earnings/revenue reports and previews
rose 1 5/16, or 7.75%, to 18 1/4 after it posted second-quarter earnings of 43 cents a share, beating the 15-analyst estimate by a penny and up from year-ago 39-cent profit.
Wendy's raised its base earnings-per-share goal for 2000 to a 14% to 17% increase rather than a 12% to 15% increase because of strong performance and momentum in sales growth in its core businesses, particularly
. Wendy's base earnings for 1999 were $1.26 a share.
Coventry Health Care
missed 5/8 to 16 1/8 after it posted second-quarter earnings of 21 cents a share, besting the 12-analyst 19-cent prediction and the year-ago 15-cent profit.
( FPC) posted second-quarter earnings of $1.11 a share, well above the seven-analyst estimate of 96 cents and the year-ago 78 cents. The company said it raised its 2000 earnings view to $3.60 from $3.50.
popped 2 11/16, or 19.1%, to 16 3/4 after it posted second-quarter earnings of 41 cents a share, above the eight-analyst estimate of 39 cents and the year-ago 40 cents. The company announced it would cut 300 jobs in a restructuring and expects to post a 20-cent a share charge in the second half of the year.
( JWEB) lifted 3/16 to 9/14 after it posted a Second-quarter loss of $1.11, narrower than the four-analyst prediction of a $1.23 loss but below the year-ago 56-cent pro-forma loss.
( MOT) moved up 1 3/4, or 5.3%, to 35 after it announced that it expects to meet Wall Street consensus estimates for 2001 earnings $1.43 per share and sales of $47 billion.
( NOI) increased 1 7/16 to 34 7/16 after it reported a second-quarter profit of 8 cents a share, beating the eight-analyst 6-cent estimate but below the year-ago 13-cent result.
After Monday's Close
Community Health Systems
posted break-even results for the second quarter, ahead of the six-analyst estimate of a loss of 1 cent and the year-ago loss of 3 cents. Community Health Systems lifted 7/8, or 5.1%, to 18 1/8.
boosted 5 15/16, or 9.6%, to 67 13/16 after it posted first-quarter earnings of 56 cents a share, a penny behind the 12-analyst prediction but above the year-ago 50-cent profit. Revenue rose 11.8%, to $2.46 billion.
( XTND) dropped 8 5/16, or 13.1%, to 55 1/8 after it posted a fourth-quarter loss of 11 cents a share, a penny wider than the single-analyst estimate and worse than the year-ago earnings of 1 cent a share. The company said the its results were hurt by lower-than-expected sales of printing systems and Internet hardware products in Europe and an expected decline in infrared-hardware sales to an original-equipment manufacturer customer.
increased 3/16 to 17 5/16 after it posted a fourth-quarter pro-forma loss of 30 cents excluding items, narrower than the eight-analyst estimate of a loss of 47 cents. The year-ago loss was less than 1 cent. The company was spun off from
decreased 1, or 7.1%, to 13 after it reported second-quarter earnings of 28 cents a share, 2 cents better than the five-analyst estimate and well above the year-ago 16 cents a share.
, a developer of computer sensory equipment, lowered 2 7/16, or 12%, to 17 15/16 after it posted second-quarter losses of 19 cents a share, topping the three-analyst estimate of a 20-cent loss but below the year-ago 15-cent loss.
( INTM) advanced 1, or 5.3%, to 20 after it posted second-quarter earnings of 3 cents a share, ahead of the five-analyst prediction of a break-even result and the year-ago 8-cent loss.
Manufacturer of software to deliver music over the Internet
missed 2 1/2, or 27%, to 6 3/4 after it posted a second-quarter loss of 35 cents a share, besting the four-analyst estimate of a negative 40-cent result and the year-ago 29-cent pro-forma loss.
( MERX), which makes products used in circuit boards for computers, said first-quarter earnings -- excluding the impact of a stock split -- will be in the range of 66 cents to 69 cents a share, well above the consensus estimate of 47 cents. Merix also announced a 3-for-2 stock split. Shares of Merix decreased 1 7/8 to 48 1/8.
posted a second-quarter profit of 10 cents a share, beating the one-analyst prediction of a 14-cent loss and the year-ago 46-cent loss. Shares of Onyx were surging on news that its genetically engineered virus has been effective in treating tumors, when combined with standard chemotherapy. Onyx closed ahead 4 1/16, or 37.4%, to 14 15/16.
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Offerings and stock actions
Manufacturer of surgical and medical devices
slipped 15/16 to 31 15/16 after it announced that it has authorized a stock buyback that will initially cover approximately $6 million worth of common stock.
, a manufacturer of systems for the application of adhesives, sealants and coatings, announced a 2-for-1 stock split. Nordson rose 1 11/16 to 58 3/16.
( SPWX) soared 36 3/4, or 183.7%, to 56 3/4 after it sold 4.75 million shares at $20 each in its IPO debut, above its revised estimated price range of $17-$19.
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Donaldson Lufkin & Jenrette
repeated its top pick rating on
( CPQ). Amdocs rose 9/16 to 67 3/4; Compaq gained 1/2 to 28 7/16.
( DDIC) up 3 13/16, or 17.3%, to 25 13/16.: UP to strong buy from buy at
up 1 to 35: UP to strong buy from accumulate at
up 3 11/16, or 14%, to 30: UP to strong buy from accumulate at
up 3/8 to 14 1/16: UP to buy from market perform at
Deutsche Banc Alex. Brown
Barnes & Noble.com
( BNBN) down 31/32, or 18.9%, to 4 5/32: DOWN to market perform from outperform at
. 2000 revenue estimate: DOWN to $329 million from $360 million. 2001 revenue estimate: DOWN to $650 million from $700 million.
National Computer Systems
up 5/64 to 71 61/64: DOWN to attractive from buy at
Reinsurance Group of America
down 1/8 to 31 11/16: DOWN to market performer from buy at Donaldson, Lufkin & Jenrette. 2000 earnings estimate: UP to $2.54 a share from $2.50; 2001 earnings estimate: UP to $2.90 a share from $2.80.
( APW) jumped 2 1/2, or 6.8%, to 39 1/4: NEW buy at
Credit Suisse First Boston
down 3 1/2, or 6.3%, to 52 3/16: NEW intermediate- and long-term buy rating at
; price target: 80.
unchanged at 9 1/2: NEW outperform at
. 12-month price target: 13.
up 7, or 7.2%, to 104 7/8: NEW buy at CSFB. Price target: 145.
up 1 5/16, or 8.4%, to 16 7/8: NEW strong buy at
Morgan Stanley Dean Witter
; price target: 40.
Merrill Lynch initiated coverage on a number of satellite communications companies:
- Echostar (DISH) - Get Report rose 1 11/16 to 41 1/8 after it was rated a near- and long-term buy.
Hughes Electronics( GMH) gained 15/16 to 26 13/16 after it was started at intermediate- and long-term buy; 2001 price target : 39.
Loral (LOR) - Get Report rose 5/16, or 6%, to 5 9/16 after it was rated near- and long-term accumulate.
PanAmSat (SPOT) - Get Report down 1 5/16 to 32 3/4 after it was rated intermediate accumulate and long-term buy.
initiated coverage of seven semiconductor companies:
- Advanced Energy (AEIS) - Get Report down 11/16 to 44 5/16: NEW buy; 12-month price target: 60.
Applied Materials (AMAT) - Get Report down 1 5/16 to 74 9/16: NEW buy; 12-month price target: 105.
Applied Science & Tech. (ASTX) added 1 7/16, or 8.6%, to 18 1/4: NEW buy; price target: 35.
ATMI (ATMI) down 1 5/8, or 6.3%, to 24 1/8: NEW buy; 12-month price target: 50.
Helix Technology( HELX) down 1/2 to 32: NEW buy; 12-month price target: 60.
MKS Instruments (MKSI) - Get Report up 3/8 to 25 9/16 : NEW buy; 12-month price target: 50.
Novellus Systems (NVLS) down 15/16 to 53: NEW attractive; 12-month price target: 60.
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( TWP) sank 16 3/8, or 30.6%, to 37 1/4 after it said in response to a NYSE query that its policy is not to comment on unusual market activity or rumors. Trex stock fell 4% on Monday. The company had come under scrutiny after its stock climbed 21% in the last two months. It was up 99% year to date.
( HLR) slipped 1/16 to 16 3/16 after announcing that Cindy E. Horowitz, executive vice president and chief financial officer, resigned to become vice president and chief financial officer at
starting in September. Register.com lost 2 19/32, or 9.6%, to 24 1/2.
Citibank Private Bank
, a subsidiary of financial services giant
, named Peter Scaturro as chief executive. Sacturro succeeds Todd Thomson, who was promoted to chief financial officer of Citigroup in April. Citigroup was unchanged at 70 1/2.
lost 1/4 to 79 15/16 after saying its merger savings are 65% larger than initially expected. The company also intends to resume its share repurchase program.
The Heard on the Street column in the
Wall Street Journal
today took a look at a study by
Ned Davis Research
that suggests that "fat-cat investors might want to root for Al Gore." One of the study's unexpected conclusions is that the stock market tends to do better when the incumbent party stays in power than when another party takes over.
After Monday's Close
added 1 3/4 to 49 5/8 after it said it raised its capital investment budget by 34%, to $1.5 billion. The company said much of the additional spending will be focused on developing North America natural-gas projects.
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By the Numbers
The data on NYSE and Nasdaq percent winners and losers are filtered to exclude stocks whose previous day's volume was less than 25,000 shares; whose last price was less than 5; and whose net change was less than 1/2.
Dow point gain and loss data are based on New York closing prices and do not reflect late composite trading.
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