If you read
latest round of
problems, you'd know that there were folks
wondering whether President and CEO Donald Reed should resign.
Well, he has.
Reed, the first outside executive in Cabletron's history, spent only eight months in the position. Chairman Craig Benson, who co-founded the company in 1983, will assume Reed's duties.
* * * * *
Stock mutual funds attracted a net $24.2 billion in February, up from $14.7 billion in January, according to the
Investment Company Institute
. Flows to hybrid funds, taxable bond funds and municipal bond funds all declined in the period. Total assets in stock funds grew to $2.59 trillion in February from January's $2.40 trillion.
In other post-close news (earnings estimates from
Earnings reports and previews
said it expects to report first-quarter earnings between 10 cents and 11 cents per share, lower than the eight-analyst prediction of 14 cents per share. The company blamed delays in the implementation of client programs.
Dave & Buster's
reported fourth-quarter earnings of 27 cents per share, beating the seven-analyst estimate of 25 cents and the year-ago 19 cents.
Citing lower sales in Japan and flat North American revenue,
said it expects to report third-quarter earnings at or below last year's 8 cents per share. The three-analyst prediction is 14 cents.
said it expects to take a $2.5 million to $3.5 million hit on third-quarter earnings from delayed start-up of its Seadrift, Texas, needle coke expansion project. The five-analyst earnings estimate is 71 cents per share.
said it expects to report first-quarter earnings between 38 cents and 40 cents per share -- below the five-analyst prediction of 50 cents.
said it expects fourth-quarter earnings to exceed the two-analyst prediction of 34 cents per share because of growing sales. The company also set a 3-for-2 stock split.
to the company
Koo Koo Roo
said it expects to report a fourth-quarter loss of 28 cents, including a charge, versus last year's loss of 33 cents. The company also said it expects a charge of $10 million to $12 million in the first quarter. First Call did not have earnings estimates for the company.
Mergers, acquisitions and joint ventures
said it will pay $102 million in cash to acquire privately held
and the assets of BRG's limited partnerships and programs.
Offerings and stock actions
said it has increased the number of shares it will sell in the
IPO to 4 million from 2 million.
Trans World Entertainment
filed to offer 3.5 million common shares.
Comings and goings
named Jerome Bailey, a former executive at
Salomon Smith Barney
, CFO and senior vice president.
Physicians Resource Group
named Pamela Westbrook CFO.
Burlington Northern Santa Fe
introduced a temporary permit system aimed at increasing shipments to Mexico following
embargo on its own Mexico traffic.