drugstore.com's 5 Million-Share IPO Priced Above-Range at $18

Publish date:


(DSCM:Nasdaq) 5 million-share IPO priced above-range at $18 by

Morgan Stanley Dean Witter

. The price range for the online drugstore's offering initially was set for $9 to $11 and then was raised to $15 to $17.

In other postclose news (earnings estimates from

First Call

; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews

Alliant Energy

(LNT) - Get Report

reported second-quarter earnings of 49 cents a share, including a 27-cent pre-tax gain from the sale of about 640,000



shares. The three-analyst view called for operating earnings of 25 cents vs. the year-ago 16 cents.

BioChem Pharma


reported second-quarter earnings of 33 cents Canadian a share vs. the year-ago 26 cents Canadian. The company did not provide U.S.-dollar-denominated results, but according to current exchange rates, the second-quarter earnings were 22 cents a share. That's a penny better than the 11-analyst estimate and up from the year-ago 17 cents.

Computer Sciences


reported first-quarter earnings of 48 cents, in line with the 16-analyst estimate and up from the year-ago 40 cents. In a

Dow Jones

interview, CEO Van Honeycutt backed the 18-analyst estimate of $2.54 a share for fiscal 2000.

Cox Communications


posted second-quarter net income of 90 cents a share, including a pretax gain related to its remaining 32% interest in


. The six-analyst estimate called for an operating loss of 5 cents vs. the year-ago loss of 3 cents.

Foster Wheeler


reported second-quarter earnings of 33 cents a share, 2 cents better than the seven-analyst outlook and up from the year-ago 32 cents. The company said it plans to cut 1,600 positions from its workforce of 11,000 and would lower its dividend 71%, in an effort to boost profitability. Foster Wheeler said it expects to take a $35 million third-quarter charge for the cost-cutting program.


(HBI) - Get Report

warned its second-quarter earnings will come in around 22 cents to 24 cents a share due to slower sales growth. The five-analyst view called for earnings of 27 cents vs. the year-ago 32 cents.



reported a second-quarter loss from continuing operations of 31 cents a share, 6 cents narrower than the four-analyst view. The year-ago profit of $40.27 a share included a $24.8 billion gain on MediaOne's separation from

U S West



Mylan Laboratories

(MYL) - Get Report

said its first-quarter results will miss the Street's forecasts because of lower net sales and increased operating expenses. The 12-analyst outlook called for earnings of 33 cents a share vs. the year-ago 28 cents.

TheStreet.com Inc.


, the publisher of this Web site, reported a second-quarter operating loss of 30 cents a share vs. the year-ago loss of 61 cents. The four-analyst estimate called for a loss of 37 cents.

Ticketmaster Online-CitySearch


reported a second-quarter loss of 31 cents a share, 2 cents narrower than the four-analyst expectation but wider than the year-ago 30-cent loss. The company said its third-quarter ticket sales might fall behind its strong second-quarter results but would still be strongly higher year over year.

VoiceStream Wireless


reported a second-quarter loss of $1.39 a share including a charge, compared with a year-ago operating loss of 59 cents. The company did not provide a per-share operating figure. The 14-analyst estimate called for an operating loss of 81 cents.

In other earnings news:

Mergers, acquisitions and joint ventures


Massachusetts Department of Telecommunications and Energy

approved the planned $950 million merger of

BEC Energy

(BSE) - Get Report


Commonwealth Energy System




(IBM) - Get Report

agreed to buy



for $12 a share, or about $240 million, in cash.

Offerings and stock actions

Credit Suisse First Boston


American National Can's

(CAN:NYSE) 30 million-share IPO below-range at $17. In other new issues,

Liberate Tech's

(LBRT:Nasdaq) 6.25 million-share IPO was priced above-range at $16 by CSFB.

Ryan Beck


National Medical Health's

(NMHC:Nasdaq) 2 million-share first offering midrange at $7.50. Elsewhere,

BancBoston Robertson Stephens



(PKTR:Nasdaq) 4 million-share IPO above-range at $15. The company is a software provider, and the price range for its offering was raised to $12 to $14 from $10 to $12.


Merrill Lynch


Quokka Sports'

(QKKA:Nasdaq) 5 million-share initial offering midrange at $12. The company is an online sports entertainment programmer.



set a 2-for-1 stock split effective Aug. 12.



set a buyback of up to $75 million worth of its common stock. The plan is a continuation of a $25 million buyback program authorized last year.


Gibraltar Steel

(ROCK) - Get Report

said it hired

Bear Stearns

for advice on future strategic alternatives.

National Computer Systems


was awarded a five-year contract valued at $122.5 million to provide assessment and testing services to the

Florida Department of Education



Justice Department

asked a federal judge to find





(SLB) - Get Report

in criminal and civil contempt for allegedly violating a 1994 court order to allow the merger of

Dresser Industries