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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


online. The


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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


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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.



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


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


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.


American Power Conversion


said it is being sued in California by an individual alleging patent infringement.


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said a California lawsuit charging the company with lying about "sweatshop" factory conditions in Asia was dismissed.