Dell Slips After Hours on In-Line Earnings Report
And you thought earnings season was over.
Shares of
Dell
(DELL) - Get Free Report
dropped by as much as 2 11/16 to 41 3/8 in after-hours trading following the PC maker's first-quarter earnings report, which was in line with the 31-analyst
First Call
outlook for 16 cents a share. Dell earned 11 cents in the year-ago period.
Applied Materials
(AMAT) - Get Free Report
, meanwhile, lifted as high as 65 1/2 in after-hours trading from a close of 63 1/8. The semiconductor equipment maker posted second-quarter earnings of 36 cents a share, topping the 25-analyst view of 27 cents but falling below the year-ago 37 cents.
And
Lycos
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picked up 2 9/16 to 115 1/2 in late trading after announcing a 2-for-1 stock split and a narrower-than-expected loss for its third quarter. The Internet media network recorded a quarter loss of 2 cents a share before goodwill amortization, a penny narrower than the 19-analyst forecast and narrower than the year-ago loss of 11 cents.
Earlier today, the company said it was acquiring a stake in online auction company
FairMarket
. Lycos will have auctions on its sites in "a matter of months, not quarters," said Vice President Ron Sege.
Chicago Board of Trade
directors voted to pursue a new alliance with Europe's electronic
Eurex
futures exchange just four months after the CBOT defeated a previous plan to link the futures exchanges.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
AMC Entertainment
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posted a fourth-quarter loss of 82 cents a share, including a 13-cent charge for impairment of long-lived assets. The 12-analyst estimate called for an operating loss of 62 cents vs. the year-ago loss of 25 cents.
Hillenbrand Industries
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said it sees second-quarter earnings falling about 12 cents a share below the five-analyst forecast for 71 cents due to performance at its
Hill-Rom
health care products unit. The company made 66 cents in the year-earlier period.
Warner-Lambert
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said it expects to achieve 30% growth in its 1999 earnings to about $1.92 a share. The 23-analyst view calls for annual earnings of $1.93 vs. the year-ago $1.48.
In other earnings news:
Mergers, acquisitions and joint ventures
Ceridian
(CEN) - Get Free Report
received notification of early termination of the Hart-Scott-Rodino antitrust waiting period for its $750 million acquisition of
ABR Information Services
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.
Ever-expanding Internet auction site
eBay
(EBAY) - Get Free Report
said it will acquire
Kruse International
, a collector-automobile vendor, and
Billpoint
, an Internet credit-card payment company. eBay will issue about $275 million in stock to pay for the purchases.
URS
(URS)
said the
Federal Trade Commission
granted it early termination of a waiting period for its planned $300 million buyout of
Dames & Moore
(DM) - Get Free Report
.
U.S. Industries
(USI) - Get Free Report
approved the spinoff of its
USI Diversified
unit, effective at the end of the year.
Miscellany
Dave & Buster's
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said its stock will be listed on the
under the symbol DAB, starting June 4.
MRV Communications
(MRVC)
announced plans to launch a multilingual global technology "megasite" devoted solely to technology news, products and services.
TCI Music
(TUNE)
said its president and CEO, Tom McPartland, resigned.
Staff reporter George Mannes contributed to this story
.
