Gates Makes $3.3 Billion Charitable Gift, Believed Largest Ever
Bill Gates
donated $3.345 billion -- believed to be the largest charitable gift ever made -- to his two foundations, according to
Fortune
online. The
Microsoft
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emperor last week gave $2.23 billion to the
William H. Gates Foundation
, which makes grants to world health and human services causes and causes in the Seattle area, and $1.115 billion to the
Gates Learning Foundation
(formerly known as the Gates Library Foundation), which provides libraries in low-income areas with software and computer services, the magazine reported.
In other postclose news (earnings estimates from
First Call
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
AGL Resources
(ATG)
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reported first-quarter earnings of 28 cents a share, 7 cents below the seven-analyst forecast and behind the year-ago 45 cents.
Genicom
(GECM)
said it's delaying its fourth-quarter earnings report until its credit agreement with
NationsBank of Texas
is amended. The company expects to post a loss for both the quarter and the year. The single-analyst estimate calls for a quarter loss of 1 cent a share, vs. the year-ago profit of 2 cents, and an annual loss of 49 cents, vs. the year-ago profit of 63 cents.
Pioneer Group
(PIOG)
recorded a fourth-quarter loss of 40 cents a share, below the two-analyst forecast for a profit of 20 cents and the year-ago profit of 31 cents. The company blamed economic global turmoil, production shortfalls and low gold prices. Pioneer also said it's closing its brokerage operations in Russia.
Telefonica de Argentina
(TAR)
posted first-quarter earnings of 64 cents a share, 1 cent below the three-analyst view but above the year-ago 60 cents.
Offerings and stock actions
Timberland Bancorp
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said its board approved a buyback of up to 5% of its stock.
Miscellany
American Power Conversion
(APCC)
said it is being sued in California by an individual alleging patent infringement.
Nike
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said a California lawsuit charging the company with lying about "sweatshop" factory conditions in Asia was dismissed.
