AT&T's MediaOne Buy Gets Justice Approval; Federal-Mogul Issues Earnings Warning

The

Justice Department

said it gave its approval for

AT&T

(T) - Get Report

to acquire

MediaOne Group

, citing the divestiture of MediaOne's stake in Web access provider

Road Runner

, as the only stipulation. AT&T already holds a controlling stake in

Excite@Home

(ATHM) - Get Report

, the biggest Internet access provider. The merger must still receive

Federal Communications Commission

approval.

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

Ditech Communications

(DITC)

, a fiber-optic communication equipment maker, posted fourth-quarter earnings of 54 cents a share, beating the four-analyst estimate of 43 cents and up from the year-ago penny loss.

Federal-Mogul

(FMO) - Get Report

, an auto parts maker, warned investors that its second-quarter and fiscal-2000 results would miss consensus estimates. The company said it would report second-quarter earnings of about 65 cents a share, below the nine-analyst estimate of a $1.12 profit, while fiscal-2000 earnings should come in at $3.00, which is also short of the 10-analyst estimate of $3.87.

Federal-Mogul blamed the shortfall on softness in the North American aftermarket results and negative currency fluctuations.

Puma Technology

(PUMA)

reported a third-quarter loss of 6 cents a share, narrower than the three-analyst estimate of a 12-cent loss but wider than the year-ago penny loss.

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Offerings and stock actions

BJ's Wholesale

(BJ) - Get Report

said it increased its current stock buyback plan to $100 million from $50 million.

Duke Energy Field Services

, a division of

Duke Energy

(DUK) - Get Report

and

Philips Petroleum

(P)

said it pushed back its plans for a 26.3 million-share IPO due to the recent market volatility.

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Miscellany

Standard & Poor's

said

Agilent

(A) - Get Report

would replace holding company

Nacco

(NC) - Get Report

in the

S&P 500 Index

.

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