April 19-25

Correcting the errors for the week.
Author:
Publish date:

The April 23 Herb on TheStreet,

Is Warnaco CEO Linda Wachner Really Worth So Much Money?, referred to

Linda Wachner's

combined base salary from

Warnaco

(WAC)

and

Authentic Fitness

(ASM) - Get Report

as $3.7 million. In fact it is $3.8 million.

(corrected April 23)

The earnings table in the April 22 Evening Update,

AT&T Makes Surprise $62 Billion Bid for MediaOne, incorrectly included two entries for

Applied Micro Circuits

(AMCC)

. The incorrect entry said the company reported a first-quarter loss of 14 cents a share, matching a single-analyst

First Call

estimate and down from a year-earlier loss of 8 cents. The correct entry says Applied Micro Circuits reported fourth-quarter earnings of 20 cents a share, beating the seven-analyst estimate of 19 cents but down from the year-ago 23 cents. (

corrected April 23

)

An April 14 story,

CNNfn Takes a Stake in PC Quote, incorrectly reported that

CNNfn

took a minority ownership stake in stock-information company

PC Quote

(PQT)

. In fact,

CNNfn

took a stake in PCQuote.com, a unit of PC Quote. (

corrected April 23

)

The April 22 Midday Musings,

IBM Single-Handedly Powers Dow, Leads Other Techs Higher, incorrectly reported that

Transocean Offshore

(RIG) - Get Report

earned $63.7 million, or 63 cents per share, in the first quarter of 1999, falling short of the

First Call

consensus estimate of 73 cents. In fact, Transocean earned $85.2 million, or 85 cents per share, and beat the First Call consensus estimate.

The story also reported incorrectly that Transocean posted a non-recurring after-tax gain of $13.9 million, or 14 cents per share, as a result of the settlement of a dispute with

Global Marine

(GLM)

, in the first quarter of 1999. In fact, Transocean reported the after-tax gain in the first quarter of 1998. Excluding the results of the settlement, Transocean earned $63.7 million, or 63 cents per share, in the first quarter of 1998. (

corrected April 22

)

The April 21 Evening Update,

IBM Jumps in After-Hours Action on Strong Earnings Report, incorrectly reported that the

First Call

estimate on

Exodus Communications'

(EXDS)

first-quarter results called for a non-split-adjusted loss of $1.09. The estimate actually called for a presplit loss of $1.14. (

corrected April 22

)

The April 22 Herb Extra,

Dinging Dell? Not Any More, at Least Not From Piper's Kumar, mistakenly reported that

U.S. Bancorp Piper Jaffray

analyst Ashok Kumar predicted an earnings shortfall at

Dell

(DELL) - Get Report

. Kumar predicted that sales growth would slow at the PC maker. (

corrected April 22

)

The April 21 Fund Forum,

Readers React: Net Bulls Still in Charge, mistakenly stated that women have the Y chromosome. They do not.

(corrected April 21)

An April 20 Bond Focus,

Moody Bond Market Rejects Trade Report's Succor, misspelled the name of Banc One Capital Markets. It is Banc One, not Bank One.

(corrected April 21)

The April 20 Evening Update,

Microsoft Sees Revenue Rising in Fourth Quarter, Then Flattening, mistakenly reported that

Microsoft

(MSFT) - Get Report

CFO Greg Maffei said Office 2000 upgrade coupons should boost fourth-quarter earnings by about "a nickel or so." In fact, Maffei's phrase ("a nickel or so") refers to second-quarter earnings. A few paragraphs later, the same Evening Update incorrectly paraphrased Maffei as saying that "the first quarter had more risks because it was also the last quarter for Y2K fixes..." In this comment, Maffei was actually referring to the second quarter, not the first. (

corrected April 20

)

The April 5 Herb on TheStreet,

Why Is Hollywood Entertainment Letting Insiders Buy Before Its Window Opens? , incorrectly said that

Hollywood Entertainment

(HLYW)

, as part of a lawsuit with

Fox Entertainment

(FOX) - Get Report

, was fined $1,400 by a Los Angeles court for not turning over documents in connection with the suit. In fact, Hollywood produced the documents and, therefore, was never fined. (

corrected April 20

)

An earnings chart in the April 19 Evening Update,

Network Associates Drops After Hours on Poor Earnings, Outlook, mistakenly said that the analyst estimate for

ESS Technology

(ESST)

was 28 cents when in fact it was 6 cents. Thus, the company beat estimates rather than matching them.

(corrected April 20)

The April 14 Evening Update,

General Dynamics Withdraws Takeover Bid for Newport News Shipbuilding, incorrectly said new

American Coin Merchandising

(AMCN)

Chairman John Sullivan laid off 10% of the company's workforce in his first act as chairman. Sullivan had nothing to do with the layoffs, which were commenced months before he arrived at the company. (

corrected April 20

)

A table in an April 16 story,

For Some Online Brokers, Uninvested Funds Can Be of Little Interest, contained incorrect information about the rate that

Suretrade

pays on idle cash. Since November, the company has paid 1.5% on balances of at least $2,000, not 1.75%. (

corrected April 19

)

An April 19 story,

ACTV's New Patent Should Solidify Company's Near-Net Status, incorrectly referred to ACTV as Interactive Television. In fact, the name of the company is ACTV.

(corrected April 19)