DSC Expects First-Quarter Loss; Barnes & Noble Subpoenaed

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DSC Communications

(DIGI)

said it expects to report a first-quarter loss of between 15 and 25 cents per share, significantly lower than the 22-analyst prediction of a 16-cent profit. The company blamed purchasing delays and softness in deliveries of wireless switch platforms.

* * * * *

Does it really matter?

Barnes & Noble

(BKS) - Get Report

announced after the bell -- and about an hour after the

Paula Jones

sexual-harassment case was thrown out -- that it is being subpoenaed about

Monica Lewinsky's

book purchase records.

In other post-close news (earnings estimates from

First Call

):

Earnings reports and previews

UAL

(UAL) - Get Report

, parent company of

United Airlines

, said its earnings guidance to analysts remains $1.55 per fully distributed share for the first quarter despite a note from the company's COO asking employees to help cut costs and find ways to create extra revenue. The 13-analyst projection calls for $1.45 versus the year-earlier $1.61.

Citing weakness in demand from Asian customers,

Microchip Technology

(MCHP) - Get Report

said it expects fourth-quarter earnings to come in 10% below the nine-analyst prediction of 30 cents per share. The company earned 30 cents in the year-earlier period.

Magellan Health

(MGL)

said it is comfortable with analyst earnings estimates in the range of $1.10 and $1.20 per share for 1998 and $1.60 and $1.70 per share for 1999. The seven-analyst EPS estimate for 1998 calls for $1.06, and the five-analyst EPS estimate for 1999 calls for $1.62.

Boston Chicken's

(BOST)

weekly revenue for the first 12 weeks of 1998 was below the level required by the covenants in its senior credit facilities, according to the company's 10-K filing with the

Securities and Exchange Commission

.

Respironics

(RESP)

said it expects to report third-quarter earnings between 12 and 14 cents per share -- below the nine-analyst estimate of 29 cents and the year-ago 25 cents.

Rawlings

(RAWL)

reported second-quarter earnings of 61 cents per share, on target with the two-analyst estimate and up from last year's 55 cents. The company said it is on track to generate between $170 million and $175 million in 1998 net revenues.

Home Depot

(HD) - Get Report

said the 24-analyst 1999 earnings estimate of $2.03 per share was "in range."

SeaChange International

(SEAC) - Get Report

said it expects to meet the five-analyst first-quarter prediction of a three-cent loss per share, including a $600,000 charge. The company also said CFO Joseph Tibbetts Jr. has resigned.

Lone Star Steakhouse & Saloon

(STAR) - Get Report

reported first-quarter earnings of 35 cents per share, on target with the nine-analyst estimate and below the year-ago 44 cents.

Citing lower-than-expected promotional revenues and costs associated with expansion plans,

SmarTalk TeleServices

(SMTK)

said it expects to report a first-quarter loss of five cents per share, missing the three-analyst prediction of a nickel profit. The company, which lost two cents a year earlier, said it will postpone its launch of a prepaid cellular product.

Staff Builders

(SBLI)

said it expects to report 1998 earnings between 13 cents and 14 cents per share, which is below the single-analyst estimate of 16 cents. The company also said it will take a one-time charge of $30.4 million in its fourth quarter.

Blaming soft demand,

Videoserver

(VSVR)

said it expects to break even in its first quarter, missing the two-analyst estimate of four cents per share. The company made 22 cents a year earlier.

Heilig-Meyers

(HMY) - Get Report

said its March same-store sales were up 5.3% to $197.1 million.

Tops Appliance

(TOPS) - Get Report

said its March same-store sales rose 16.1% and its first-quarter same-store sales rose 6.1%.

Mergers, acquisitions and joint ventures

Oakwood Homes

(OH)

said it has completed its acquisition of

Schult Homes

(SHC)

, with each share of Schult converted into the right to receive $22.50 in cash.

The

Justice Department

approved

Clear Channel Communications'

(CCU) - Get Report

$1.1 billion acquisition of

Universal Outdoor Holdings

(UOUT)

.

Offerings and stock actions

Great Southern Bancorp

(GSBC) - Get Report

said it will repurchase up to 800,000 shares.

Eastern

(EML) - Get Report

said it has repurchased 178,400 shares of its own stock.

National Commerce

(NCBC)

has proposed to increase its shares to 175 million from 75 million, which will allow for a two-for-one stock split.

Comings and goings

MIM

(MIMS)

Vice Chairman David Corvese has resigned.

Imaging Technology

(ITEC)

named President and COO Brian Bonar CEO as well.

PSS World Medical

(PSSI)

said Thomas Hixon has been named president and COO.

Analyst actions

Salomon Smith Barney

upgraded

Cali Realty

(CLI) - Get Report

to buy from outperform.

Miscellany

Travelers Group's

(TRV) - Get Report

Salomon Smith Barney unit said it is cooperating with federal authorities who have filed suit against a former firm employee and five other individuals, alleging they made more than $1.8 million trading on insider information.

Procter & Gamble

(PG) - Get Report

said it has invested $170 million in a new plant in Mexico.

American Airlines

parent

AMR

(AMR)

said its March load factor dropped 2.6% to 70.6% year over year.

Carbide/Graphite Group

(CGGI)

said it has been served with a complaint commencing a second civil antitrust action for alleged violations of the Sherman Antitrust Act by producers of graphite electrodes for the steel industry.

Merck

(MRK) - Get Report

said the

Food and Drug Administration

approved the company's anti-cholesterol drug

Zocor

for use as treatment to reduce the risk of a first stroke.

C.R. Bard

(BCR)

said it is exploring alternatives for its $460 million cardiovascular unit, but declined to comment on rumors that it may be sold for as much as $900 million.

Ultrafem

(UFEM)

said it has filed for Chapter 11 bankruptcy and has dismissed its 45-person staff.