Circus Circus Rises After Hours On Upside Earnings

Author:: Heather Moore
Publish date:: May 19, 1999 7:20 PM EDT

Circus Circus

posted first-quarter earnings of 43 cents a share, 3 cents higher than the 17-analyst forecast and above the year-ago 23 cents. The stock picked up 13/16 to 24 in after-hours trading.

Goldman Sachs

priced

eToys'

(ETYS:Nasdaq) 8.3 million-share IPO top-range at $20 a share. The price range for the online toy seller's offering was raised to $18 to $20 from $10 to $12 earlier today. Elsewhere in new issues,

Bear Stearns

priced

CAIS Internet's

(CAIS:Nasdaq) 6 million-share IPO above-range at $19 a share. The company is an Internet service provider based in Washington.

A judge ruled in favor of

Jeffrey Katzenberg

in the former

Disney

(DIS) - Get Report

exec's $250 million bonus lawsuit against the Mouse, according to a

Reuters

report. The former head of Disney's film unit didn't forfeit a lucrative bonus when he left the company in 1994 without exercising a two-year contract extension,

Reuters

said the judge ruled.

In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews

Etec Systems

(ETEC)

reported third-quarter earnings of 9 cents a share, 1 cent below the 12-analyst prediction and behind the year-ago 47 cents. The company also warned of losses in the fourth and first quarters.

Hannaford Bros.

(HRD)

said its April sales rose 0.1% to $243 million.

Inference

(INFR) - Get Report

posted a first-quarter loss of 29 cents a share, including an acquisition charge. The single-analyst forecast called for an operating loss of 20 cents vs. the year-ago loss of 36 cents.

Silverleaf Resorts

(SVR)

said it sees second- and third-quarter earnings falling 6 cents to 8 cents a share below estimates due to higher growth-plan expenses. The four-analyst view called for 52 cents in the second quarter, vs. the year-ago 41 cents, and 55 cents in the third quarter, vs. the year-ago 42 cents.

In other earnings news:

Offerings and stock actions

Covad Communications

(COVD)

filed with regulators for a 7.5 million-share secondary offering.

Miscellany

Brazil's monetary policy committee, know as the

Copom

, lowered the reference

Selic

interest rate -- which determines the yields on domestic debt and is used to set consumer credit rates -- to 23.5% from 27.0%. The Copom also maintained the bias to ease the reference rate until its next meeting.