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Offerings and stock action coverage.
agreed to a B2B e-commerce pact which will target small- and mid-sized businesses. Dell said it plans to set up a B2B marketplace, which would be supported by Ariba technology. The marketplace would try to cut costs by consolidating purchases. The companies said the e-commerce site would be launched in the U.S. during the third quarter.
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
Pinnacle West Capital
Pinnacle West Energy
said it has entered a deal with
to create more than 2,500 megawatts of electrical generation in Arizona and Nevada.
said it has agreed to a $380 million deal with an undisclosed power developer to construct a power plant in Texas. Shaw said it would break ground immediately and expects the project to be completed in fiscal 2002.
CEO Garo Armen told Reuters that he expects the company to see revenues by fiscal 2003, the same year it will launch its kidney cancer drug, Oncophage. Armen said that the drug is also being tested to remedy colorectal and pancreatic cancer. The company also said it would increase its workforce by roughly 40%, to 130-140 jobs by the end of this year.
reported fourth-quarter earnings of 8 cents a share, beating the two-analyst estimate of 5 cents and up from the year-ago 4 cents.
said it expects its first-quarter earnings to beat the 16-analyst estimate of 33 cents a share. The company attributed the strong results to its profitable operations in Nevada and Missouri. Station said its first-quarter net income would more than double the year-ago report.
, at an investor briefing, said "continued momentum in a robust business environment produced strong performance in the first two months of 2000." In a statement, J.P. Morgan Chairman Douglas Warner III, said: "Earnings so far this year have been excellent. Results in January and February were significantly ahead of the average monthly pace of last year's fourth quarter. The strength was broad-based across equities, fixed income, investment banking, and asset management, with proprietary investing and trading activities also profitable."
posted fourth-quarter earnings of 55 cents a share, a penny better than the seven-analyst estimate and up from the year-ago 39-cent profit.
Offerings and stock actions
said it priced a 1.75 million-share secondary offering at $20 a share.
said it has set a shareholder rights plan which is triggered when an investor purchases 10% of the company's stock.
said it set a 3-for-2 stock split.
said that its chairman, CEO and president Michael Chesser will step down on April 1 to become the CEO and president of
, a division of
. Itron COO LeRoy Nosbaum has been tapped to replace Chesser as CEO and president.
For a look into this evening's after-hours trading action, please check out
The Night Watch.
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Corrections and Clarifications.