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Evening Update: Expedia Reports Stronger-Than-Expected Results, Announces Two Acquisitions

Expedia (EXPE) - Get Expedia Group, Inc. Report posted a second-quarter loss of 16 cents a share, narrower than the single-analyst estimate of a 29-cent loss.



(MSFT) - Get Microsoft Corporation (MSFT) Report

affiliate also said it has agreed to acquire


. The company said that it would issue roughly 2.6 million shares and options worth about $82 million for and issue an another 3 million shares, options and warrants valued at roughly $95 million for

Three new stocks will make their trading debuts tomorrow. For more pricing and underwriting information, check out's

offerings and stock action coverage below.

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

Advanced Fibre

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reported fourth-quarter earnings of 10 cents a share, a penny better than the 15-analyst estimate and the year-ago earnings of 8 cents.

Airborne Freight


reported fourth-quarter earnings of 35 cents a share, including a gain of 6 cents. The 13-analyst estimate called for earnings of 26 cents, while the company earned 78 cents in the year-ago period. Airbourne said the lack of growth in domestic shipments handled by the company and the high cost of jet fuel hurt results in the latest fourth quarter.



said it expects to reported fourth-quarter results between breakeven and three cents a share. The report would miss the two-analyst estimate of an 11-cent profit.

CEC Entertainment


said it sees fourth-quarter earnings at about 29 cents and 1999 earnings of about $1.58 a share. This is above the 10-analyst estimate of 28 cents in the fourth quarter and $1.57 for the year.

Computer Sciences


posted third-quarter earnings of 66 cents a share, in line with the 15-analyst estimate and up from the year-ago 55 cents, which was restated to reflect the acquisition of

Nichols Research


Stac Software


reported a first-quarter loss of seven cents a share, wider than the lone-analyst estimate of 5 cents, but narrower than the year-ago loss of 33 cents a share.

Structural Dynamics


reported fourth-quarter earnings of 13 cents a share,a penny better than the seven-analyst estimate . The year-ago earnings of 26 cents includes a charge.

Offerings and stock actions

Corporate Executive Board


has filed with the

Securities and Exchange Commission

for 5 million-share secondary offering. The company said shareholders are set to sell the shares, with Corporate Executive receiving none of the offering's profits

Exchange Applications


said it has set a 2-for-1 stock split.

Morgan Stanley Dean Witter

priced an 11.5 million-share IPO for

Impsat Fiber Networks


at $17 a share.

Onyx Software


said it set a 2-for-1 stock split. The company posted fourth-quarter earnings of 7 cents a share, beating the six-analyst estimate of 4 cents and up from the year-ago 10-cent loss.

Otter Tail Power

(OTTR) - Get Otter Tail Corporation Report

said it set a 2-for-1 stock split. The company also posted fourth-quarter earnings of 81 cents a share, a penny better than the single-analyst estimate but down from the year-ago 87-cent profit.

Papa John's

(PZZA) - Get Papa John's International, Inc. Report

said it upped its current stock buyback plan to $150 million.

PE Corp

said it has filed with the SEC for a follow-on public offering of 1.6 million shares of

Celera Genomics Group


. Morgan Stanley Dean Witter and

Goldman Sachs

are serving as the deal's lead underwriters.

Morgan Stanley priced a 3 million-share IPO for

Quantum Effect Devices


at $16 a share.

Warburg Dillon Read

priced a 5 million-share IPO for



at $26 a share.


Bristol-Myers Squibb

(BMY) - Get Bristol-Myers Squibb Company Report

said it has applied to test a new formulation of its anti-HIV drug


. Patients would take one pill, once a day, instead the current two-tablet daily prescription.

For a look into this evening's after-hours trading action, please check out's

The Night Watch.