Advanced Micro Devices
shares fell to 17 from a close of 18 15/16 in after-hours trading following a warning of a "significant" first-quarter loss. The company cited a failure to meet its goal of shipping 5.5 million K-6 processors during the quarter and said that it will take charges during the second and third quarters to cut 300 positions. The 21-analyst
outlook called for a first-quarter loss of 9 cents a share vs. the year-ago loss of 39 cents. The company said it still expects to ship 20 million to 25 million microprocessors in 1999.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
reported third-quarter earnings of 7 cents a share, 8 cents below the single-analyst estimate and behind the year-ago 18 cents.
posted fourth-quarter earnings of 33 cents a share, in line with the 10-analyst view and 3 cents above the year-ago figure.
said it expects to report a second-quarter loss due to lower revenue and a channel inventory management program. The five-analyst estimate called for earnings of 14 cents a share vs. the year-ago profit of 33 cents.
announced a fourth-quarter loss of 10 cents a share, wider than the nine-analyst expectation for a loss of 3 cents and below the year-ago profit of 54 cents. The stock slipped to 7 3/4 from a close of 7 15/16 in after-hours trading.
reported fourth-quarter earnings of $1.08 a share, missing the single-analyst forecast for $1.15 but moving a penny ahead of the year-ago figure.
O'Sullivan Industries Holdings
said it expects to report third-quarter earnings of 40 cents a share thanks to stronger sales and improvements in manufacturing productivity. The three-analyst view called for 31 cents vs. the year-ago 23 cents.
said it sees second-quarter earnings falling below estimates and the year-ago figure and that the second half of the year will be "difficult." The company said it has yet to recover from seasonal softening, especially in Europe. The six-analyst forecast called for earnings of 33 cents vs. the year-ago 31 cents.
said it expects to report fourth-quarter earnings of 22 cents to 25 cents a share. The three-analyst prediction called for 28 cents vs. the year-ago 21 cents. The company blamed lower-than-expected volumes in selected markets within the medical sterilization unit.
Mergers, acquisitions and joint ventures
, which agreed today to acquire
for $9.1 billion, said BFI's 20% stake in France's
probably would be sold.
said it formed a committee to consider an offer by two of its directors to acquire the remaining 35% of the company they don't already own for $10 a share.
Offerings and stock actions
(ROWE:Nasdaq) 3.1 million-share IPO top-range at $16 a share. The company offers access to an online catalog of newspapers, magazines and books. Elsewhere in new offerings,
Salomon Smith Barney
(ARGY:Nasdaq) 2 million-share IPO bottom-range at $14 a share. The company provides post-graduate education with a focus on doctoral-level programs.
board said it will have a second shareholder meeting to vote on a motion that could give Spain's
another chance at gaining control of the electric holding company. The meeting will take place sometime from March 29 to April 7.
said it will make
Sony Music Entertainment
and two other units wholly owned subsidiaries.
said it hired
to review its strategic alternatives, including continuing cost reduction measures, alliances, asset sales and recapitalization.
announced its CEO, William Wrigley, died of pneumonia this afternoon. The company named William Wrigley Jr., a senior vice president, acting president earlier today.