roared up 7 15/16 to 147 in after-hours
trading on news that it will join the
Oct. 6. eBay, whose market capitalization is about $17.7 billion, will replace
Johnson & Johnson
is acquiring. The Nasdaq 100 is an index of the 100 largest nonfinancial stocks on the
Nasdaq Stock Market
will announce Thursday that
is investing $15 million in the company at a price of $12 a share. CAIS closed Wednesday at 11, down 1/4.
In addition, CAIS, which provides the hardware, software, and connectivity for hotels and apartment communities, will also announce that it will purchase 44 million IRUs, or bandwidth units, from Qwest, said Gary Rabin, company executive vice president of finance and strategic planning, at the
Volpe Brown Whelan Internet & Communications
conference Wednesday. That basically means that CAIS will have the right to that dedicated amount of bandwidth for 20 years, Rabin said.
CAIS announced earlier Wednesday that it signed an agreement with
Bass Hotels & Resorts
. The deal lets CAIS install its high-speed Internet access products in an initial 60
Staybridge Suites by Holiday Inn
properties. CAIS Internet will hook up an initial 6,700 units in 60 cities nationwide.
The company already has arrangements with
and others, and has its service available in 887 hotels and more than 200,000 rooms in the U.S.
in after-hours trading. How heavy was the volume in the online retailer? Yesterday's volume leader on Island was
with 97,830 shares. Tonight, Amazon is almost double that.
Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EDT. Prior to Sept. 15 Island offered trading from 8 a.m. to 5:15 p.m. EDT
MarketXT, formerly Eclipse Trading, offers after-hours trading to retail clients of Morgan Stanley Dean Witter's (MWD) Discover Brokerage and Mellon Bank's (MEL) Dreyfus Brokerage Services. Clients can trade 200 of the most actively traded New York Stock Exchange and Nasdaq Stock Market issues, 6 p.m. to 8 p.m. EDT Monday through Thursday.
updates the most active issues on both MarketXT and Island ECN in Got a Minute? and in the Evening Update.
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
said the $25 million sale of its stake in
Sonat Power and Marketing
would result in a fourth-quarter pretax gain of roughly $20 million.
said it anticipates third-quarter revenue between $30 million to $31 million, greatly beating the year-ago revenue report of $2.8 million.
posted fourth-quarter earnings of 67 cents a share, in line with the 14-analyst estimate of 67 cents, and beating the year-ago 60 cents.
reported third-quarter earnings of 25 cents a share, missing the five-analyst estimate of 27 cents but up from the year-ago 14 cents.
said its first-quarter same-store sales declined 2% to $1.36 billion, down from the year-ago $1.39 billion. The computer retailer blamed the decline on slowness in its direct sales, related technical services and technology training sales. Compared with a year ago, direct sales slipped 14% to $410 million, while technical services and training sales fell 8% to $30 million and 14% to $23 million respectively. In addition, the company said that comparable same-store sales for 195 stores in business a year or more stumbled 0.3%.
warned investors that it would post third-quarter earnings below the 10-analyst estimate of 20 cents a share, citing its
Mrs. Smith's Bakeries
subsidiary's weak sales and ongoing costs as a cause for the disappointing results. The company holds a 55% interest in
said it expects to post fiscal 1999 earnings of $1.90 a share, missing both the six-analyst estimate of $2.03 and the year-ago $1.92. The company blamed softness in its retail loans and increasing costs for the disappointing earnings.
posted third-quarter earnings of 23 cents a share, in line with the five-analyst estimate and beating the year-ago 18 cents.
Personnel Group of America
said it is on track to post third-quarter earnings in line with the 11-analyst estimate of 25 cents a share. In addition, the company said it set a $30 million share-repurchasing plan.
posted fourth-quarter earnings of 21 cents a share, in line with the nine-analyst estimate of 21 cents and up from the year-ago 28 cents.
said September same-store sales were boosted 8.3% by pharmacy same-store sales growth of 16.7%.
RTI International Metals
warned investors that it expects to report a third-quarter loss of 7 cents to 12 cents a share, after it assumes a $1 million to $1.5 million charge for new product development and slow oil and gas exploration markets. The two-analyst consensus estimate expects the company to post earnings of 14 cents a share, lower than the year-ago 76 cents a share.
posted first-quarter earnings of 28 cents a share, beating both the 13-analyst estimate of 26 cents and the year-ago 25 cents.
posted fourth-quarter earnings of 44 cents a share, beating both the single-analyst estimate of 42 cents and the year-ago 40 cents a share.
Offerings and stock actions
said it has filed with the
Securities and Exchange Commission
for an offering of 6.5 million common shares.
Credit Suisse First Boston
priced a 5.5 million-share IPO for
(TIVO:Nasdaq) above-range at $16 per share.
said it would shut down three coal mines, which are used as a resource for the
power plant in western Pennsylvania, while continuing to operate a West Virginia mine for at least two months. The closings, which are set to occur in early December, will leave 560 employees out of work. Consol spokesman Thomas Hoffman said the company has forge an agreement with the power plants owners including
Public Service Enterprise Group
to supply the facility with coal from other mines that are cheaper to operate.
announced the departure of President and COO George Tronsrue. The company said Tronsrue resigned from the company to "pursue other career opportunities."
said workers have filed another petition with the
National Labor Relations Board
to ax the
as their current negotiating representative. The NLRB said that workers at 10 facilities have filed 13 decertification petitions in the last two years. Overnite said one of the key issues dividing the union and the company is the Teamsters insistence that the workers swap their wholly funded pension plan for the Teamsters Central States Pension Fund.
As originally published this story contained an error. Please see
Corrections and Clarifications.