Updated from 4:14 p.m. EDT
posted fourth-quarter earnings of 44 cents, besting the 24-analyst 42-cent prediction and the year-ago 40 cents. The company said it was comfortable with earnings projections for 2001, currently at $1.88 a diluted share. In a conference call with analysts, company officials said they would not reinstitute a stock buyback.
joint newsroom took a closer look at Microsoft's report in a
story earlier. Microsoft stumbled 5 3/8, or 6.8%, to 73 1/8.
to neutral from buy, while
lowered its rating to accumulate from strong buy. Meantime,
reiterated its existing buy recommendation on the company.
Storage management software company
reported second-quarter earnings of 13 cents a share, a penny ahead of the 24-analyst outlook and up from the year-ago 7 cents.
joint newsroom was at it again with a
story on Veritas. Veritas sank 15 5/16, or 12%, to 112 1/4.
Mergers, acquisitions and joint ventures
slid 2 9/16, or 7.9%, to 29 5/8 after it announced that it would buy
along with its Web subsidiary,
, for stock valued at $1.6 billion. The deal that would bring together two of the leading technology information sites on the Internet. Ziff-Davis popped 2 1/16, or 18.1%, to 13 7/16. For further coverage of the deal, take a look at
announced that they are considering alternatives, including the potential sale of Keebler, to maximize shareholder value. Flowers is currently Keebler's largest shareholder, with an approximate 55% stake. Flowers jumped 3, or 15.4%, to 22 3/8, while Keebler shot up 8 3/4, or 24.7%, to 44 1/8.
Goldman Sachs raised its rating of Keebler to buy from market outperform.
entered a $3 billion stock deal to sell its
. The sale comes one day after Georgia-Pacific agreed to purchase paper maker
. Plum Creek will take on $1 billion of Timber Co.'s debt. According to the deal's terms, Timber shareholders will receive 1.37 shares of Plum Creek stock for each share of Timber they hold. Georgia-Pacific stumbled 5/16 to 24 7/8, while Plum Creek skidded 9/16 to 26 5/8.
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Earnings/revenue reports and previews
shed 4 9/16, or 7.9%, to 52 11/16 after it reported a profit of 45 cents a share, topping the 19-analyst estimate by 1 cent and exceeding the year-ago earnings of 35 cents. Apple is the maker of the edgy iMac computer, but apparently not the seller of quite enough of them: Disappointing iMac revenue led the stock to sell off in
joint newsroom covered the Apple news in a
popped 2 5/8, or 8.7%, to 32 5/8 after it reported second-quarter earnings of 55 cents a share, missing the 20-analyst estimate of 64 cents and down from the year-ago 83 cents.
declined 1/4 to 50 11/16 after it listed second-quarter results of 85 cents a share, beating the 17-analyst 83-cent estimate but below the year-ago $1.03 profit.
jumped 1 5/16 to 68 after it posted second-quarter earnings of 87 cents a share, topping the 16-analyst 83-cent prediction and the year-ago 71-cent result. Additionally, the financial services giant announced that it plans to split its stock four-for-three, raise its quarterly cash dividend by 17% and repurchase another $5 billion worth of common stock.
edged up 2 5/16 to 60 1/2 after it posted second-quarter earnings of 37 cents a share, topping the 16-analyst estimate of 41 cents a share and up from the year-ago 38-cent profit.
fell 11 1/4, or 16.9%, to 55 5/16 after it reported a second-quarter loss of 10 cents a share, 3 cents narrower than the 22-analyst forecast but wider than the year-ago 9-cent loss. For more on this, check out
Donaldson Lufkin & Jenrette
skidded 13/16 to 47 3/8 after it posted second-quarter earnings of $1.15 a share, topping the six-analyst estimate of 96 cents and up from the year-ago $1.14 profit. The company said that the slumping stock market and rising interest caused a 2.1% decline in profits.
Satellite telecommunications company
declined 1/4 to 9 1/4 after it posted a second-quarter loss of 98 cents a share, but added that billable minutes of use on its network more than doubled since the first quarter. Analyst consensus estimates pegged the loss at 80 cents a share. Spending on operations and interest expenses was $97 million, below expectations of $125 million. Revenue was $483,000, compared to last year's $177,000. GlobalStar is a mobile satellite telecommunications service.
slipped 13/16 to 26 1/2 after it reported results for the second quarter with sales of $356.6 million vs. $368.6 million last year. Earnings per share were 67 cents, while analyst consensus estimates had called for 60 cents. Sales increased by 2%, driven by gains in the sale of its Wave Pacer DSL assets. Hubbell engineers, manufactures and sells electrical and electronic products for a broad range of commercial, industrial, telecommunications and utility applications.
The world's largest chip maker,
, stumbled 4 7/8 to 138 1/8 after it listed earnings of 50 cents a share, beating the 21-analyst estimate by a penny and almost doubling the year-ago 26-cent result.
joint newsroom covered the semiconductor giant's
UBS Warburg upped its price target on the shares to 190 from 180.
slid 4 5/16 to 113 after it reported second-quarter earnings of 26 cents a share, edging out the 10-analyst estimate and up from the year-ago 16-cent profit. Minimed also set a 2-for-1 stock split.
lost 10 1/2, or 10.2%, to 91 1/2 after it posted second-quarter earnings of 23 cents a share, a penny better than the 10-analyst estimate and up from the year-ago 17-cent profit. The networking products maker also said it set a 2-for-1 stock split.
added 15/16 to 20 after it posted second-quarter losses of 26 cents a share, beating the eight-analyst estimate of a 34-cent loss per share. Additionally, the company said that it expects to have positive earnings by the end of 2001.
bounced 3 15/16 to 113 1/4 it posted second-quarter earnings of 28 cents a share, topping the eight-analyst estimate of a 24-cent profit and up from the year-ago 17-cent profit. The company also set a 2-for-1 stock split.
to neutral from buy after the company posted second-quarter earnings of 37 cents per share on Tuesday, two cents above consensus estimates. Meantime,
reiterated its existing buy recommendation on the company. The stock fell 5 3/8, or 6.9%, to 73 1/8.
cut its rating on
to intermediate, long-term accumulate from buy and cut its fiscal 2000 EPS estimates to $2.95 a share from $3.25. Merrill also lowered its fiscal 2001 estimates to $3.35 from $3.70.
Yesterday, Tricon Global posted second-quarter earnings of 76 cents a share, topping the analyst estimate of 71 cents and up from the year-ago 60-cent profit, but cut its full-year earnings outlook because of weakness at
. Tricon Global edged up 9/16 to 28 1/6.
Associates First Capital
: UP to near-term buy from accumulate at Merrill Lynch. It was up 1 3/16 to 25 1/2.
was off 1 1/8 to 112 11/16 even though its rating was raised to buy from attractive at
. 12-month price target: UP to 160 from 110.
: UP to buy from attractive at PaineWebber. It rose 1 3/4 to 37 1/2.
: UP to intermediate-term accumulate from neutral at Merrill Lynch. The stock crept up 3/16 to 11 1/8.
: 2000 earnings forecast UP to 89 cents a share from 81 cents a share at Donaldson Lufkin & Jenrette. Siebel dropped 8 3/8 to 167 7/8.
: UP to attractive from buy at PaineWebber. Triad was off 1/4 to 26 11/16.
Bausch & Lomb
: DOWN to buy from strong buy at
Deutsch Banc Alex. Brown
. It plummeted 17 1/16, or 21.7%, to 61 3/4.
: DOWN to market perform from buy at Deutsche Banc Alex. Brown. DOWN to intermediate-term accumulate from intermediate-term buy at
. 2000 earnings estimate DOWN to $1.10 from $1.15, 2001 earnings estimate DOWN to $1.40 from $1.45 at
. DOWN to market performer from buy at
. The stock sunk 6 15/16, or 26.9%, to 18 13/16.
: DOWN to outperform from buy at
Salomon Smith Barney
. It was 1/4 lower to 24 7/16.
Charter One Financial
: DOWN to neutral from outperform at
Morgan Stanley Dean Witter
. Charter One was down 2 15/16, or 12.1%, to 21 1/4.
: DOWN to market performer from outperformer at
. The stock was off 3/16 to 8 13/16.
: third-quarter revenue DOWN to $137.9 million from $147.6 million at CSFB. The stock slid down 2 11/16, or 7.6%, to 32 13/16.
Newport News Shipbuilding
was down 1 9/16 to 37 5/8 after it was cut DOWN to buy from strong buy at CSFB.
: INITIATED buy at
; price target: 84. The stock was down 2 1/4 to 52.
: NEW buy at
; price target: 20. It was 1/4 higher to 8 1/4.
was up 3 3/8, or 6.6%, to 54 3/8, after it was started as a NEW market performer at Goldman Sachs.
: NEW intermediate, long-term buy at Merrill Lynch. The stock was off 1/8 to 23 7/16.
: NEW outperform at Morgan Stanley. 12-month price-target: 28. Osca was up 1/4 to 17 1/4.
: NEW hold at CSFB. It crawled up 1/8 to 36 1/4.
was 3/16 higher to 16 7/8 after it was started as a NEW outperform at
Salomon Smith Barney
: NEW market performer at Goldman Sachs. Sylvan was down 1/8 to 12 5/16.
: NEW buy at
. The stock dropped 5 1/16, or 6.9%, to 68 3/16.
Donaldson Lufkin & Jenrette
changed estimates on two airlines:
- America West (AWA) : fiscal 2000 EPS estimates DOWN to $1.80 a share from $2.25 a share. It was down 3/8 to 17 3/8.
Southwest (LUV) - Get Southwest Airlines Co. Report: fiscal 2000 EPS UP to $1.30 a share from $1.05. Southwest was down 7/16 to 21 1/2.
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Offerings and stock actions
debuted today at a higher-than-expected offering price of $14 a share. The stock was up more than 150% at one point, but fell a bit toward the close. It ended the day up a whopping 133%, or 18 5/8, to 32 5/8.
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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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