Hewlett-Packard To Buy Back $2 Billion in Stock

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Hewlett-Packard

(HWP)

announced a $2 billion stock repurchase plan.

In other postclose news (earnings estimates from

First Call

; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews

Dominion Resources

(D) - Get Report

said earnings will increase at an average annual compound growth rate of 9% after it acquires

Consolidated Natural Gas

(CNG)

.

Mergers, acquisitions and joint ventures

America Online

(AOL)

said it completed its previously announced acquisition of

MovieFone

(MOFN)

and that it will issue 0.3339 of a share for each MovieFone share.

Offerings and stock actions

IXnet

, a unit of

IPC Information Systems

(IPI) - Get Report

, announced plans to raise $185.4 million in an IPO. IXnet provides managed communications services to the global financial community and hopes to trade on the

Nasdaq Stock Market

under the symbol IXNT.

OpTel

(OTEL:Nasdaq), which provides integrated communications services, canceled its planned IPO of up to $100 million, citing market conditions.

Miscellany

Jos. A Bank Clothiers

(JOSB)

said its chairman and CEO, Timothy Finley, retired. Director Andrew Giordano will assume Finley's duties until a permanent replacement is found.

O'Sullivan Industries Holdings

(OSU)

said shareholder lawsuits were filed against the company, alleging the amount being paid to O'Sullivan in its merger agreement with

OSI Acquisition

is inadequate.