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(DIS) - Get The Walt Disney Company Report

posted first-quarter pro forma earnings of 25 cents a share, excluding

(GO) - Get Grocery Outlet Holding Corp. Report

. 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

America Online's


intended merger with

Time Warner


. 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

ABC Group

and president of

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Walt Disney International

, the company's overseas business unit.

For more on Iger's appointment, check out additional

coverage from

joint newsroom.

Standard & Poor's







will ride into the

S&P 500

index after the close of regular trading on Friday. Left on the roadside after the move are

Fleetwood Enterprises



Foster Wheeler


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

(BOUT) - Get Innovator IBD(R) Breakout Opportunities ETF Report

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.

Active Software


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.


(GLW) - Get Corning Incorporated Report

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.

Foundry Networks


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.

Network Associates


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.


(RYN) - Get Rayonier Inc. REIT Report

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.

Texas Instruments

(TXN) - Get Texas Instruments Incorporated Report

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.

Three-Five Systems


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

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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.

Rainforest Cafe



Lakes Gaming


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.

Southwest Gas

(SWX) - Get Southwest Gas Holdings Inc. (DE) Report

said it sued


(OKE) - Get ONEOK Inc. Report

for dropping plans to acquire Southwest, and was also suing rival bidder

Southern Union


for trying to block the $925 million deal.

Offerings and stock actions

DSP Group

(DSPG) - Get DSP Group, Inc. Report

said it sold 600,000 shares of its affiliate


(AUDC) - Get AudioCodes Ltd. Report

, or about a quarter of its stake, for $44 million.

Tibco Software


set a 3-for-1 stock split.



set a 2-for-1 stock split and named Daniel Maub chief operating officer.



(INTU) - Get Intuit Inc. Report

named Stephen Bennet president and CEO, ending a four-month search. Bennet, 45, was formerly at

General Electric

(GE) - Get General Electric Company Report

, where he was an executive vice president and member of the office of the chief executive at

GE Capital


For more on Intuit's new CEO, check out additional

coverage from

joint newsroom.



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.