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DuPont Photomasks Expects Lower Revenue

DuPont Photomasks


said pricing pressures will lower its revenue 6% to 10% below last year's figure and "substantially reduced" its first-quarter earnings. The photomask maker, which cited the slowdown in the semiconductor industry, expects to report quarter earnings between 19 cents and 24 cents per share. The seven-analyst

First Call

forecast called for earnings of 39 cents vs. the year-ago 58 cents. DuPont Photomasks also said it agreed to acquire



photomask manufacturing group for an undisclosed amount.

Hungry Man

"Takeover" Tom Hanley just loves the Boston clam chowder at the


hotel in Beantown.

"While the room-service menu includes a range of classic French dishes from vichyssoise and lobster bisque to lobster fixed any way you'd like, I happen to think the Ritz makes some of the best Boston clam chowder I've ever tasted," Hanley, who covers banks at

Warburg Dillon Read

, said in a report today.

And after dinner on his trip last week he "took advantage of the quiet calm of the late-summer evening and strolled down Newbury Street to window shop at

Giorgio Armani

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Louis Vuitton



before wandering into the Boston Public Gardens."

And somewhere along the way he finally thought about banks. Hanley, who attained much of his influence with takeover calls over the years, listed several targets. They included:

First Virginia




(ASO) - Get Academy Sports and Outdoors Inc. Report


Mercantile Bancorp

(MTL) - Get Mechel PAO American Depositary Shares (Each rep. 1) Report


Keystone Financial



In addition, Hanley said, "If Japan fails to take action on behalf of its troubled economy or if Sandy Weill decides not to go through with the


(CCI) - Get Crown Castle International Corp. (REIT) Report

merger, I'd find it difficult to remain positive on bank stocks."


Erle Norton

In other post-close news (earnings estimates from First Call):

Earnings/Revenue Reports and Previews


(CCL) - Get Carnival Corporation Report

posted third-quarter earnings of 58 cents per share, 2 cents above the 22-analyst forecast and ahead of the year-ago 50 cents.


(HMY) - Get Harmony Gold Mining Company Limited Report

reported second-quarter earnings of 15 cents per share, a penny ahead of the 11-analyst outlook and a penny below the year-earlier figure.

J.B. Hunt Transport Services

(JBHT) - Get J.B. Hunt Transport Services Inc. Report

said it expects third-quarter earnings to fall below estimates because of weakness in the rail-service industry. The seven-analyst view called for earnings of 46 cents per share compared with the year-ago 5 cents.

Herman Miller

(MLHR) - Get Herman Miller, Inc. Report

reported first-quarter earnings of 39 cents per share, beating the seven-analyst estimate of 35 cents and the year-ago 29 cents.


(SCHL) - Get Scholastic Corporation Report

recorded a first-quarter loss of $1.08 per share, on target with the five-analyst prediction and below the year-ago loss of 81 cents.

Gulfstream Aerospace


said it expects to exceed estimates for its third quarter, 1998 and 1999 earnings. The jet-aircraft maker, which credits strong demand for the new outlook, sees quarter results of at least 80 cents per share. A four-analyst estimate called for third-quarter earnings of 77 cents, vs. the year-ago $1.51, fourth-quarter results of 83 cents, vs. the year-ago 58 cents, 1998 results of $2.87, vs. 1997's $3.12, and 1999 results of $3.46.



said it expects to post third-quarter earnings in line with the three-analyst forecast for 12 cents per share.

Primus Telecommunications Group


said it sees 1999 adjusted revenue growth of 40% to 50% after accounting for the decline in the Australian dollar.

ReliaStar Financial


said it launched a cost control plan expected to reduce annual expenses by $40 million to $50 million by the year 2000.

Mergers, Acquisitions and Joint Ventures

HNC Software


agreed to acquire closely held

Open Solutions

for 3 million HNC shares.

Offerings and Stock Actions

Niagara Bancorp


set its first quarterly dividend of 3 cents per share.


(XLNX) - Get Xilinx Inc. Report

agreed to repurchase up to 3 million shares of its stock.

Freedom Securities

(FSI) - Get Flexible Solutions International Inc. (CDA) Report

approved a stock buyback plan of up to 5% of its outstanding shares.


An advisory panel to the

Food and Drug Administration

recommended approval of





, used for rheumatoid arthritis.


(AMP) - Get Ameriprise Financial Inc. Report

announced it will scale back production in Taiwan, cutting its workforce by 326.


Defense Department

said it offered to sell $2 billion in advanced military aircraft missiles made by


(RTN) - Get Raytheon Company Report

to the

United Arab Emirates