Hewlett-Packard To Buy Back $2 Billion in Stock
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 Dominion Energy Inc. 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
TheStreet Recommends
(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 Intrepid Potash Inc 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.
