said it will restate its second- and third-quarter financial results to include a $187 million, second-quarter charge related to an upgrade in its U.S. wireless network.
A noncash, post-tax charge of about 10 cents a share will be reflected in revised second-quarter 1999 results. Despite the revision, BellSouth said it expects earnings growth for 1999 to be in the 19% to 21% range. The current 15-analyst estimate calls for 1999 earnings of $2.00 a share.
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.
Patrick M. Fitzgibbons
Mergers, acquisitions and joint ventures
signed a communications deal with
, a telecommunications services provider.
A Delaware judge set an April 10 date for a trial to settle the dispute between
over the blockbuster cholesterol drug, Lipitor. Pfizer filed suit against Warner last month, saying the company broke the terms of a standstill provision in their Lipitor marketing agreement. Warner retaliated against Pfizer by moving to end their agreement to jointly market Lipitor by filing a countersuit in the Delaware court.
Offerings and stock actions
Templeton Dragon Fund
, a closed-end management investment company, said it would extend the fund's open-market share repurchases on Japan's
Osaka Securities Exchange.
announced the termination of its U.S. development program for adefovir dipivoxil for HIV, after federal regulators turned down a request for accelerated approval early last month.