Equity mutual funds reported inflows of $7.9 billion for the week ended yesterday, according to
AMG Data Services
. It was the largest inflow in eight weeks, with 51% going to growth funds and 44% going to global and international funds. Large-cap equity index funds reported outflows, while international equity funds reported inflows totaling $2.8 billion, which came from all regions except Latin America. Taxable bond outflows totaled $934 million.
As reported earlier, the
said it reached a tentative settlement with
on charges of fraud at its hospitals and other facilities. Under the agreement, Columbia/HCA, the nation's largest for-profit hospital operator, will pay the federal government $745 million.
For several years, the Justice Department has been investigating allegations that Columbia made false claims and statements in submitting cost reports under Medicare, Medicaid and other federal programs.
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story, see coverage from
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
posted first-quarter pro forma earnings of 48 cents a share, above the six-analyst estimate of 46 cents and up from the year-ago 15 cents.
posted second-quarter earnings of 12 cents a share, above the 19-analyst estimate of 10 cents and the year-ago loss of 1 cent a share. The company attributed its strong performance to increased customer demand for rapid delivery of its optical networking equipment.
Mandalay Resort Group
posted first-quarter earnings of 58 cents a share, well above the 16-analyst estimate of 40 cents. The year-ago loss of 5 cents includes a charge.
posted a first-quarter loss of 19 cents, excluding stock-based compensation, amortization of goodwill and other intangible assets. The three analyst called for a loss of 24 cents while the year-ago loss excluding items was 7 cents.
said the Federal Reserve's most recent decision to raise short-term interest rates will hurt future earnings and stock offers. The company said it expects an adjustment to 2000 diluted earnings-per-share between 2 cents to 3 cents from current estimate of 85 cents.
Playtex CEO Michael Gallagher reiterated a positive outlook for the business and indicated that the company's 2000 target of 10% to 12% sales growth and current 2000 operating earnings views remain intact.
posted first-quarter earnings of 2 cents a share, better than the 13-analyst expected loss of 1 cent and up from the year-ago pro-forma loss of 4 cents.
posted a first-quarter loss of 1 cent a share, narrower than the single-analyst estimated loss of 3 cents and the year-ago loss of 10 cents.
posted second-quarter earnings of 53 cents a share, excluding goodwill , above the 10-analyst estimate of 51 cents, but down from the year-ago 61 cents.
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said Michael Cardillo is retiring as president of its
, a supplier of network equipment, software and integration services, said its chairman, president and CEO William Cadogan will retire from the company. The company said it has formed a succession committee, and Cadogan will leave following a transition to his successor, which is expected to take between 12 months to 18 months.
National Computer Systems
said President and CEO Russ Gullotti plans to retire by June 1, 2001.
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