said it expects to post first-quarter earnings of 8 cents to 11 cents a share due to higher operating expenses related to two fourth-quarter acquisitions. The five-analyst
forecast called for 22 cents vs. the year-earlier 27 cents.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
Blaming low fees at its asset management business,
warned it sees third-quarter earnings falling 15% to 25% below the year-ago 39 cents a share. The four-analyst view called for 43 cents.
said its same-store sales for the second quarter fell 4.7% from the year-ago period.
said it expects to achieve profitability during the second half of 1999. The six-analyst estimate called for a third-quarter loss of a nickel a share and fourth-quarter earnings of 2 cents.
said it will record a fourth-quarter charge of about $20 million due to citrus crop losses caused by freezing temperatures in California. The company said it expects 1999 earnings to be cut $10 million to $15 million because of the charge.
said it expects to report fourth-quarter revenue of $58.3 million -- more than double the year-ago period -- but that it still sees a net loss for the quarter. The Internet service provider also said it had more than 1 million subscribers as of Thursday.
said same-store sales for the 1998 holiday season dropped 7.2%.
said sales in stores opened at least a year rose only 1%, citing weakness in holiday retail products.
Trans World Entertainment
reported its same-store sales rose 7% for the nine weeks ended Jan. 2.
Mergers, acquisitions and joint ventures
Offerings and stock actions
Pharmacia & Upjohn
filed with the
Securities and Exchange Commission
for a 31.1 million-share offering. Sweden's
is selling its roughly 7% stake in the company.
named James D. Kiggen chairman, completing restructuring anticipated by the spinoff of
. Kiggen replaces Charles S. Mechem Jr.
said Paul Norris, the company's CEO and president, was named chairman.
said President and COO William Grabske will assume the additional post of chief executive.
said it received approval from the
Food and Drug Administration
, designed to prevent graft ejection in kidney transplant patients.
said Howard Bain resigned as CFO and vice president of worldwide operations to become chief financial officer at
. The company said its vice president of finance, Greg Myers, will serves as CFO while the company searches for a permanent replacement. Despite the resignation, Symantec said it expects third-quarter results to be in line with the seven-analyst projection of 40 cents a share. The company earned 37 cents in the year-ago period.