posted second-quarter earnings in line with lowered analysts' estimates. The razor blade maker earned 26 cents a share, matching the 13-analyst
view but falling below the year-ago 33 cents.
Inflow into U.S. equity funds for the week ended yesterday totaled $1.9 billion, with 75% going into growth funds, according to
AMG Data Services
. Emerging-market and European funds experienced redemptions while Japan reported inflow. Among other categories, $591 million flowed into taxable bond funds, with most going into high yield bond funds. Outflow from money market funds totaled $3.1 billion while inflow into municipal bond funds totaled $133 million.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
Advanced Energy Industries
reported second-quarter earnings of 10 cents a share, 3 cents better than the 11-analyst estimate and up from the year-ago loss of 12 cents. The company named COO Hollis Caswell president, replacing Douglas Schatz, who remains chairman and CEO.
Horace Mann Educators
said it expects to post second-quarter earnings of around 34 cents a share, which would be significantly below the six-analyst outlook of 50 cents. The company, which made 31 cents in the year-ago period, said catastrophe losses reflect an unusually large number of catastrophes. Horace also said higher-than-expected claims in property and automobile claims will hurt results.
said it expects to meet the three-analyst earnings forecast of 33 cents a share in the second quarter despite lower South American demand in its beverage cooler business. But the company, which made 30 cents in the year-earlier second-quarter, warned its results will fall below estimates during the second half.
said its fourth-quarter sales rose 4% to $448 million.
said it sees second-quarter earnings of 30 cents to 33 cents a share due to production delays. The five-analyst prediction called for 54 cents vs. the year-ago 51 cents.
reported second-quarter earnings of 55 cents a share, including a 7-cent charge for uncollectible accounts, an unspecified operation and maintenance expense, an unrealized gain of 9 cents and an amortization expense of 9 cents. The 11-analyst estimate called for operating earnings of 44 cents vs. the year-ago 37 cents.
In other earnings news:
Mergers, acquisitions and joint ventures
Cyprus Amax Minerals
agreed to a merger of equals, creating the world's largest publicly traded copper company. The dollar value of the merger wasn't immediately clear. The new company,
, is expected to see its combined costs decline by $150 million a year.
agreed to sell its
for $290 million.
Offerings and stock actions
(RVST:Nasdaq) 5 million-share IPO mid-range at $12. The software company's products allow the playback and recording of DVD, high definition TV and other multimedia formats on PCs.
Elsewhere in new issues,
Donaldson Lufkin & Jenrette
(PDYN:Nasdaq) 6 million-share IPO above-range at $17. The company develops broadband and narrowband digital and analog products.
set a 2-for-1 stock split.
also approved a 2-for-1 stock split.
said that, as part of its financing restructuring, it exercised a 30-day grace period on interest due on its $1.45 billion outstanding senior notes.
unit said it plans to sell its packaging and processing facility in Lakeland, Fla., known as the Juice Bowl.
officially said its
Magellan fund topped $100 billion for the first time at $100.1 billion. Earlier today,
explained why that's really something of a nonevent.