posted first-quarter pro forma earnings of 25 cents a share, excluding
. The results topped the 16-analyst estimate of 20 cents. Revenue rose 5% to $6.8 billion and operating income increased 8% to $1.1 billion.
Chairman and CEO Michael Eisner said he expects to keep Disney independent, as speculation abounds over whether the company could use a megamerger in the wake of
intended merger with
. Still, Eisner said the company was open to ventures or alliances in areas including the Internet, telephony, satellite transmission and other forms of content distribution.
Disney also announced that Robert A. Iger has been named president and COO as well as a member of its board. Iger had been chairman of the Disney unit
and president of
Walt Disney International
, the company's overseas business unit.
For more on Iger's appointment, check out additional
Standard & Poor's
will ride into the
index after the close of regular trading on Friday. Left on the roadside after the move are
which an S&P spokeswoman described as "down at the bottom of the index in terms of market capitalization and thought to be unrepresentative of the economy,"
In other postclose news (
earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified
Earnings/revenue reports and previews
reported a fourth-quarter pro forma loss of 57 cents a share, which excludes noncash compensation and goodwill amortization charges, narrower than the five-analyst estimate of a loss of 81 cents and narrower than the year-ago 75 cents.
reported a fourth-quarter loss of 4 cents a share, narrower than both the three-analyst estimate of a 9-cent loss and the year-ago 15-cent loss.
reported fourth-quarter earnings of 26 cents a share, beating the nine-analyst estimate of 24 cents and up from the year-ago 15 cents.
reported fourth-quarter earnings from continuing operations, before special items, of 51 cents a share, ahead of the 13-analyst estimate of 48 cents and up from the year-ago 40 cents, before special items.
reported fourth-quarter earnings of 11 cents a share including a charge, beating the six-analyst estimate of 7 cents. The company said the year-ago break-even results were antidilutive.
posted third-quarter earnings of 29 cents a share, a penny better than the eight-analyst estimate and up from the year-ago 14 cents.
reported fourth-quarter earnings of 20 cents a share, excluding noncash interest expense, amortization expense and compensation charges related to employee stock options, 3 cents ahead of the 17-analyst estimate.
PSS World Medical
posted third-quarter earnings of 18 cents a share, missing the 10-analyst estimate of 23 cents and the year-ago earnings of 22 cents. The company said it hired
Donaldson Lufkin & Jenrette
to help it explore various strategic options for the entire company or its separate operating divisions.
reported fourth-quarter earnings of 69 cents a share including items. The eight-analyst estimate called for earnings of 48 cents, while the year-ago earnings of 50 cents also includes items.
posted pro forma earnings of 51 cents a share, ahead of the 30-analyst estimate of 47 cents and above the 31 cents in the year-ago period.
reported fourth-quarter earnings of 35 cents a share, beating the four-analyst estimate of 30 cents and the year-ago earnings of nine cents. The company said as a result of its 4-for-3 stock split in December and the equity offering at the end of last September, results for the latest fourth quarter are based on about 13 million shares outstanding.
In other earnings news:
Mergers, acquisitions and joint ventures
Procter & Gamble
said it is poised to meet its sales and earnings goals even without a large merger such as the one which would have resulted from a deal with
American Home Products
. CFO Clayt Daley told
that P&G was disappointed that talks did not continue with the drug makers but said that the recent sharp drop in the company's stock had erased the economics of the deal.
said they terminated their $111 merger deal. On Jan. 13, Rainforest said it received an unsolicited $125 million bid from a public company, though it did not name the company. Lakes said it was not prepared to raise its bid for Rainforest.
said it sued
for dropping plans to acquire Southwest, and was also suing rival bidder
for trying to block the $925 million deal.
Offerings and stock actions
said it sold 600,000 shares of its affiliate
, or about a quarter of its stake, for $44 million.
set a 3-for-1 stock split.
set a 2-for-1 stock split and named Daniel Maub chief operating officer.
named Stephen Bennet president and CEO, ending a four-month search. Bennet, 45, was formerly at
, where he was an executive vice president and member of the office of the chief executive at
For more on Intuit's new CEO, check out additional
said Fabio Gualandris resigned as president and CEO effective Feb. 15. Gualandris is leaving to join a global chip manufacturer. Chairman Raymon Thompson will assume responsibilities of interim CEO and president.
As originally published, this story contained an error. Please see
Corrections and Clarifications.