largest shareholder, said it is "generally supportive" of Lycos' merger with
but that it "reserves the right to reassess its position." CMGI shares rose as high as 113 from a close of 112 in after-hours trading. The company responded to rumors swirling during today's session that it was getting cold feet about the deal.
Outflow from U.S. equity funds in the week ended yesterday totaled $1 billion, according to
AMG Data Services
. International funds reported outflow from all emerging and developed sectors. Among other funds, taxable bond funds reported inflow of $517 million, money-market funds reported inflow of $3.3 million and municipal bond funds reported inflow of $142 million.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
reported a second-quarter loss of $1.67 a share, including charges. The three-analyst estimate called for operating earnings of 6 cents vs. the year-ago profit of 17 cents.
reported a second-quarter loss of 20 cents a share, wider than the two-analyst estimate for a loss of 11 cents and below the year-ago profit of 24 cents. The company also said it sees break-even third-quarter results but expects significant improvement the following quarter. Analysts called for 29 cents for the third quarter, compared with the year-ago 39 cents, and 36 cents for the fourth quarter, compared with the year-ago 20 cents.
said it will take a fourth-quarter charge of $4 million to $5 million to reorganize two divisions.
said it sees first-quarter earnings of 2 cents to 4 cents a share, below the 15-analyst forecast for 9 cents and the year-ago 6 cents. The company blamed slower than expected growth in license fees.
Level 8 Systems
may restate its 1998 quarterly results mostly to reflect an adjustment to a $6.5 million first-quarter research charge.
In other earnings news:
Mergers, acquisitions and joint ventures
Cooper Tire & Rubber
announced a joint venture with Italian cable and tire maker
in an effort to boost sales and its distribution network. Financial terms were undisclosed.
Integrated Health Services
said it's in talks with financial firms interested in a leveraged buyout after issuing a profit warning earlier today. The company also said it's considering an IPO for part or all of its
Offerings and stock actions
(ONXS:Nasdaq) 3.1 million-share IPO priced top-range at $13 a share by
Credit Suisse First Boston
. Elsewhere in first offerings,
(SRNA:Nasdaq) 6 million-share IPO priced above-range at $13 a share by
Hambrecht & Quist
(EPAY:Nasdaq) 3.4 million-share IPO priced top-range at $13 a share by
BancBoston Robertson Stephens
filed with regulators for a 2 million-share offering.
set a 1 million-share buyback.
filed a contempt of court motion against its pilots union, saying the union's "sicklist" grew today even after a federal judge issued a temporary restraining order prohibiting members from calling in sick. The airline has canceled hundreds of flights because of a dispute with the pilots union about how to integrate
said it will cut 2,000 jobs and plans to take a $62 million charge as it integrates a recently acquired company and streamlines operations. The medical device maker bought
was named in a shareholder lawsuit seeking class action status alleging that it inflated its 1998 third-quarter earnings to avoid falling short of analysts' forecasts.
said it hired
to investigate strategic options to improve shareholder value.
plans to add chairman to CEO Steven Rogel's title April 20.