Skip to main content

3Com Meets Earnings Numbers but Slips on Revenue Forecast


(COMS) - Get ComSovereign Holding Corp. Report

posted fourth-quarter earnings of 24 cents a share, 1 cent higher than the 25-analyst

First Call

view and ahead of the year-ago 18 cents. The company also approved a 15 million-share repurchase plan. But the networker's CFO said 3Com's revenue for the first and third quarter of 2000 is expected to come in below year-ago figures. Shares of 3Com slipped 1/8 to 31 3/8 in after-hours trading.

Network Appliance

(NTAP) - Get NetApp Inc. Report

will replace

Ascend Communications

(ASND) - Get Ascendis Pharma A/S Report

in the

S&P 500

after Thursday's close. Lucent is acquiring Ascend.

Among other changes to S&P indices:


Scroll to Continue

TheStreet Recommends


may buy



Internet assets, including





In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews



recorded a third-quarter loss of 17 cents a share, narrower than the four-analyst outlook for a loss of 18 cents but wider than the year-ago loss of 9 cents.

Georgia-Pacific said -- thanks to the sustained pace of home construction and remodeling and improvements in its lumber business -- it expects to post second-quarter earnings of more than $1 a share. The 13-analyst outlook called for 89 cents vs. the year-ago 17 cents. Shares of the company were up 2 5/8 to 53 1/2 in after-hours trading.

H.B. Fuller


reported second-quarter earnings of $1.04 a share, beating both the five-analyst forecast for 97 cents and the year-ago 81 cents.


(LEN) - Get Lennar Corporation Class A Report

posted second-quarter earnings of 63 cents a share, 1 cent above the 10-analyst estimate and ahead of the year-ago 47 cents.

Vastar Resources


said it will take a $10 million charge in the second quarter to reflect dry hole costs.

Mergers, acquisitions and joint ventures

Alltel agreed to acquire

Liberty Cellular

for $600 million in stock.


(KR) - Get Kroger Company (The) Report

announced plans to buy 41 grocery stores from



for an undisclosed amount. Albertson's is selling the stores as part of its pending merger with

American Stores

(ASC) - Get Ardmore Shipping Corporation Report

Newbridge Networks


agreed to acquire

Stanford Telecommunications


for $280 million in stock.

Offerings and stock actions

Morgan Stanley Dean Witter



(ARBA:Nasadq) 5 million-share IPO above range at $23. Ariba's software is used to automate purchasing of operating resources such as office supplies and computer products.

BancBoston Robertson Stephens



(GSPN:Nasdaq) 3.25 million-share IPO top-range at $15. The company is a developer of advanced digital subscriber line integrated circuits.


(INIT:Nasdaq) resumed plans for an IPO, which it expects to hit the Street around July 5.

Montana Power

(MTP) - Get Midatech Pharma PLC Report

set a 2-for-1 stock split.

TD Waterhouse's

(TWE:NYSE) 42-million share IPO priced top-range at $24. The initial offering for the company, the discount brokerage unit of


(TD) - Get Toronto Dominion Bank (The) Report

, originally was set for 32 million shares.


New York Federal Reserve


William McDonough

told the Money Marketeers of New York University that tightening monetary policy to prevent inflation can help U.S. growth as much as cutting rates has in the past. The central bank has to remain "vigilant," he told the group of Wall Street economists who gave McDonogh their Distinguished Achievement Award. The New York Fed president is a voting member of the Fed's rate-setting board, which meets June 29-30.

American Home Products


settled a wrongful death suit brought against it by the family of a Houston woman who died after using the "fen-phen" combination of diet drugs. Financial terms of the agreement weren't released.

BF Goodrich's


Aerostructure unit reached a new labor agreement with groups representing more than 1,500 California workers.



said it ended its contract to buy

Claircom Communications



(T) - Get AT&T Inc. Report


Rogers Cantel


International Specialty Products


named Sunil Kumar president and chief executive. Kumar replaces President and COO Peter R. Heinze.