Air Express International
said it would make an announcement before trading begins on Monday. The preannouncement followed a halt in trading on the
Nasdaq Stock Market
around 2:50 p.m. EST.
Earlier this month, Air Express said it was discussing a possible transaction with third parties but had not made a definitive agreement. European industry sources told
at the time that Air Express had agreed to a $1.4 billion takeover from
, a unit of
. A link-up of Danzas and Air Express would create the largest cargo forwarder in Europe. Meanwhile, Deutsche Post has also announced it will hold a news conference on Monday, at Frankfurt airport, saying the topic would be disclosed over the weekend.
led trading on
ECN on mild volume and has not traded a single share in the last three hours of trading. Exchanges are usually a little thin on Friday evening and tonight was no exception.
, which popped in the last half hour of the day session on news of its mysterious venture with
and two other companies, traded lightly, providing evidence of the thinness.
Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EST.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.
In other postclose news (earnings estimates from
First Call/Thomson Financial
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
reported third-quarter operating earnings of 1 cent a share, well below the three-analyst expectation of 17 cents a share.
reported third-quarter operating earnings of $103 a share, down 41% from $212 a year earlier. Operating earnings exclude investment gains. Berkshire reported net income of $420 million, or $276 a share, compared with $365 million, or $293 a share, in the year-ago period.
said it was revising its third-quarter net income to 69 cents a share from the previously reported 61 cents. Goodyear said the revision was related to assets in its European joint venture with
Sumitomo Rubber Industries
Mergers, acquisitions and joint ventures
, a broadband Internet service provider in Taiwan, said the companies have agreed to jointly provide broadband Internet services within Taiwan. The alliance will lead to the creation of a co-branded portal as well as a shopping channel. In addition, Microsoft will make an investment in GigaMedia to help speed the rollout of a broadband version of the MSN portal. Though terms were not released, Taiwanese media reports have said Microsoft was considering investing $31.5 million in GigaMedia,
said it would close its 194-elf ... er, -employee bakery in Lake Bluff, Ill., citing excess capacity within its manufacturing network. It appears the
elves were thwarted by none other than
, as costs associated with the closure were recognized after Keebler acquired
in September 1998. The Lake Bluff factory was one that belonged to President, a leading supplier of Girl Scout cookies. Keebler said the closing, expected in late January, will save $4.2 million on annualized basis. That's a lot of