Spanish Internet company
agreed to buy Internet search company
for $12.5 billion in stock, or $97.55 a share. The combined company, to be called
, will have an estimated 50 million unique users and 175 million daily page views. As part of the agreement, Germany's
agreed to purchase $1 billion of advertising, placement and integration services over five years.
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reported second-quarter earnings of 87 cents a share before items, beating the 23-analyst estimate of 82 cents and the year-ago 73 cents. Total revenues grew 15% to $12 billion from $10.4 billion in the previous year. Hewlett-Packard said the latest results reflect a company reinvention that had set it on a course of consistent double-digit growth.
also reported second-quarter results. The company said it earned 36 cents a share in the latest quarter, including a gain of 4 cents. The 11-analyst estimate called for 32 cents, while the year-ago earnings were 41 cents. Agilent said the 11% decline in its operating earnings reflected planned activities related to operating independently.
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earnings, see coverage from
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
announced a strategic alliance under which TriZetto will acquire Erisco Managed Care Technologies, a subsidiary of IMS, for TriZetto stock. The alliance overrides an earlier merger pact between the two companies announced in March. IMS Health will receive about 10.63 million TriZetto shares, valuing Erisco at $255 million.
, a storage management software provider, said it reached an agreement with
to make its software available for IBM's AIX Monterey systems.
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Earnings/revenue reports and previews
reported second-quarter earnings of 14 cents a share, a penny better than the seven-analyst estimate and up from the year-ago 9 cents.
reported first-quarter earnings of 47 cents a share, well above the three-analyst estimate of 39 cents and the year-ago 18 cents. The company also set a 2-for-1 stock split.
posted first-quarter earnings of 23 cents a share, in line with the 18-analyst estimate but down from the year-ago earnings of 27 cents. Saks said the drop in profits was due to weaker-than-expected sales growth in its women's apparel business. The company said it set an operating target of 18 cents a share in the second quarter, 25 cents in the third quarter and $1.03 in the fourth quarter. Saks also said excluding its e-commerce unit, it expects fiscal year earnings between $1.75 and $1.80.
posted a third-quarter pro forma loss of 20 cents a share, narrower than the single-analyst estimate of a 26 cent loss, but wider than the year-ago loss of 13 cents.
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Offerings and stock actions
Cross Timbers Oil
said it authorized the repurchase of up to 3 million shares of its common stock, or about 6.5% of shares outstanding.
, a traffic safety software developer, asked the
Securities and Exchange Commission
to withdraw its plans for a $45.6 million IPO. In a letter to the SEC, the company said it felt it was no longer in its best interests to proceed with the offering.
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Semiconductor test equipment maker
said CEO Charles Schwan will retire effective June 30. Schwan, 61, will be replaced by President and COO James Donahue.
said it named Sam Smookler president and CEO.
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