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Cisco Rises in Late Instinet Trading

Shares of


(CSCO) - Get Cisco Systems Inc. Report

lifted 1 5/8 to 113 1/2 in late


trading after the company posted third-quarter earnings of 38 cents a share, 1 cent above the 29-analyst

First Call

outlook and ahead of the year-ago 30 cents. Cisco also announced a 2-for-1 stock split.

covered Cisco's conference call in an earlier story.



, rumored to be in merger talks with


(TX) - Get Ternium S.A. American Depositary Shares (each representing ten shares USD1.00 par value) Report

, has hired

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TheStreet Recommends

Lehman Brothers

to advise the oil giant on potential merger and acquisition options, according to a



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

Earnings/revenue reports and previews

Abercrombie & Fitch

(ANF) - Get Abercrombie & Fitch Company Report

recorded first-quarter earnings of 23 cents a share, beating the 17-analyst prediction for 17 cents and the year-earlier 12 cents. The clothing retailer also set a 2-for-1 stock split and said it plans to open 20 children's stores this year. The stock picked up 1/16 to 92 1/2 in after-hours trading.

Alliant Techsystems


reported fourth-quarter earnings of $1.59 a share, topping the five-analyst expectation by 6 cents and moving ahead of the year-ago $1.45.

Asyst Technologies


posted a fourth-quarter loss of 32 cents a share, 3 cents wider than the six-analyst forecast and significantly behind the year-ago profit of 42 cents.

Kent Electronics


reported fourth-quarter earnings of 2 cents a share, in line with the eight-analyst forecast but behind the year-ago 25 cents.



reported fourth-quarter earnings of 19 cents a share, missing the seven-analyst forecast for 28 cents and the year-ago 27 cents.

MTS Systems

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reported second-quarter earnings of 15 cents a share, 1 cent higher than the two-analyst outlook but below the year-ago 26 cents.

Pacific Sunwear


reported first-quarter earnings of 19 cents a share, a penny above the 13-analyst forecast and 6 cents ahead of the year-ago figure.

Premier Parks


announced a first-quarter loss of $1.16 a share, 3 cents narrower than the nine-analyst prediction but wider than the year-earlier loss of 39 cents.

Rock Financial


said its second-quarter earnings will fall substantially below its first-quarter profit of 18 cents a share. The two-analyst view called for second-quarter earnings of 20 cents vs. the year-ago 23 cents. The retail mortgage provider blamed the warning on a decrease in conventional loan margins and a decrease on its branch system's conventional and subprime products.

Sterling Software

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posted second-quarter earnings of 40 cents a share, 2 cents higher than the five-analyst view and above the year-ago 28 cents.

System Software Associates


warned its second-quarter results will fall below the four-analyst prediction for a loss of 7 cents a share. The company, which blamed the news on lower software license revenue, lost 20 cents in the year-ago period.

Western Wireless


posted a first-quarter loss of 7 cents a share, 4 cents wider than the six-analyst outlook and in line with the year-ago loss.

Mergers, acquisitions and joint ventures

Avondale Industries

(AVDL) - Get Avadel Pharmaceuticals plc Report

said its board approved beginning talks with

Litton Industries

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about Litton's $38-per-share offer for the company. Meanwhile, Avondale and

Newport News Shipbuilding


agreed in January to merge in a deal valuing Avondale at $470 million, or $35.50 a share. Litton has offered to acquire both Newport News and Avondale for a total of $1.8 billion in cash, stock and debt assumption.



climbed 6 to 104 1/4 in after-hours trading following a


report saying

USA Networks

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dropped its bid for the Internet portal.

Offerings and stock actions

Interstate Bakeries


added 3 million shares to a pre-existing repurchase plan for 1 million shares.

Morgan Stanley Dean Witter


Time Warner Telecom's

(TWTC:Nasdaq) 18 million-share IPO above range at $14 a share. The company offers high-speed Internet access primarily to medium and large business customers in 19 U.S. cities.