said it sees its first-quarter earnings in line with the 13-analyst estimate of 28 cents a share. The company attributed the solid profit to strength in its
snack food division and its juice business, but added that high prices were problematic for its North American Pepsi-Cola unit.
Chairman and CEO Roger Enrico said he also expects fiscal 2000 earnings to meet the 16-analyst estimate of $1.38 a share. Enrico said the company's share repurchasing program is being exercised faster than expected.
, the leading maker of computer disk drives, said it would be acquired by an investor group,
Silver Lake Partners
, that includes its management in a complex deal that would sell its 33% stake in
back to that company.
The Veritas stake accounts for most of Seagate's stock market value. The companies valued the stock and cash deal at $20.2 billion.
For more on Seagate's acquisition, check out a
story written this evening by
Standard & Poor's
said that Veritas would replace
(but what'll happen to Manny, Mo and Jack?) in the
. S&P added that
will fill Veritas' former spot in the
S&P MidCap 400
and Pep Boys would take over 911 services provider
S&P SmallCap 600
In other postclose news (earnings estimates from
First Call/Thomson Financial
; earnings reported on a diluted basis unless otherwise specified):
Mergers, acquisitions and joint ventures
said they have entered a joint pact to run the AOL Australia unit. Both parties would hold a 50% interest in the venture, which would set up a Web portal using AOL wireless technologies to the domestic wireless consumer market. The financial terms of the deal not released.
, a computer networking manufacturer, posted fourth-quarter pro forma earnings of 15 cents a share, a penny better than the 13-analyst estimate and up from the year-ago 2-cent profit.
Chairman and CEO Piyush Patel said the Cabletron is ready to covert itself into a holding company and four separate units which would concentrate on Internet infrastructure. Cabletron said it would spin off these four companies to shareholders.
, a information technology provider, reported fourth-quarter earnings of 11 cents a share, a penny better than the three-analyst estimate but down from the year-ago 16-cent profit. The company said it would assume a $15 million reorganization charge in the first half of fiscal 2001 to boost its e-business and consolidate operating expenses.
, a sportswear retailer, reported fourth-quarter earnings of 26 cents a share, beating the six-analyst estimate of 20 cents a share but down from the year-ago 27-cent profit.
Offerings and stock actions
set a 2-for-1 stock split.
For a look into this evening's after-hours trading action, please check out
The Night Watch.