eBay Jumps After Hours on Strong First-Quarter Earnings

Publish date:

Shares of


(EBAY) - Get Report

hopped up to 214 in after-hours trading from a close of 209 following the online auctioneer's upside first-quarter earnings report. The company earned a nickel a share, 3 cents ahead of the 10-analyst

First Call

forecast and above the year-ago penny. eBay said revenue jumped to $34 million from $6 million.


(AMZN) - Get Report

announced that it was acquiring three e-commerce companies for about $645 million in stock.

The companies are:


, a company that runs two Web sites dedicated to helping individuals track down hard-to-find books and music;


, a company developing products to simplify online person-to-person and business-to-consumer transactions; and

Alexa Internet

, which has developed an ad-supported Web navigation service.

Amazon.com is acquiring all of the outstanding shares and assuming all outstanding options of the three companies. The company expects to account for the transactions under the purchase method of accounting. The transactions, subject to shareholder approval, are expected to close before June 30.

In addition, Amazon.com said in a filing with the

Securities and Exchange Commission

today that it has registered 15 million shares of common stock to aid its acquisition program. Based on today's closing price of 207 3/16, the offering is worth about $3.1 billion.


Suzanne Galante

CMS Energy

(CMS) - Get Report

will replace

Union Camp

(UCC) - Get Report

in the

S&P 500

after the close Friday. And


(AFL) - Get Report

will replace

Fred Meyer

(FMY) - Get Report

in the index.

In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews


(AVA) - Get Report

reported first-quarter earnings of 34 cents a share, a penny shy of the three-analyst expectation and down from the year-ago 56 cents. But the company said it is comfortable with 1999 estimates of $1.55 to $1.65; the seven-analyst estimate calls for $1.54.

JDA Software


posted a first-quarter loss of 5 cents a share, including a restructuring charge. The eight-analyst view called for an operating loss of 5 cents vs. the year-ago profit of 17 cents.


(SDP) - Get Report

reported first-quarter earnings of 13 cents a share, 2 cents below the four-analyst outlook and down from the year-ago 25 cents. The company warned that it expects its second-quarter earnings to fall short of the year-ago 64 cents; the two-analyst estimate calls for 61 cents. SunSource said it expects its full-year 1999 earnings to beat last year's $2; the five-analyst view calls for $2.14.



said it expects to record a loss of 2 cents to 4 cents a share in the first quarter. The two-analyst view called for a profit of 21 cents vs. the year-ago profit of 18 cents.

In other earnings news:

Mergers, acquisitions and joint ventures



confirmed it forged a confidentiality agreement with suitor


(T) - Get Report

, which launched a surprise $58 billion bid for the company Thursday night, topping



$48.2 billion offer.

Offerings and stock actions

Lehman Brothers


Heidrick & Struggles'

(HSII:Nasdaq) 4.2 million-share IPO bottom-range at $14 a share. The company is an executive search firm.

Wind River


approved buybacks for up to $25 million in stock.


Methode Electronics


said it planned to exit the printed circuit market and that it will sell its manufacturing plants in California and New Jersey.

Northrop Grumman

(NOC) - Get Report

said it received a $1.3 billion contract from the


for 21 E-2C radar planes.

Markets Editor John J. Edwards III contributed to this story