said it will invest $200 million in
, which is building a long-distance fiber-optic communications network in the U.S. In return, Williams Communications, a unit of
, will provide network transmission services for Web-hosting computer centers being constructed by Intel's Internet Data Services business. Intel expects to invest in Williams Communications' shares at the time of its planned IPO.
The 16 million-share IPO of
Donaldson Lufkin & Jenrette's
online brokerage, was priced top-range at $20 a share. On Friday, the price range for the offering was raised to $18 to $20 from $13 to $15 and the number of shares to be offered was upped to 16 million from 15 million.
Elsewhere in new issues,
Salomon Smith Barney
Juno Online Services'
(JWEB:Nasdaq) 6.5 million-share IPO top-range at $13 a share. Juno is a New York-based Internet service provider. And
(ZIPL:Nasdaq) 3.5 million-share IPO top-range at $14 a share. The company offers wholesale Internet access services. Meanwhile,
BT Alex. Brown
trimmed the expected IPO of
(PBIZ:Nasdaq) to 5 million shares from 7.15 million shares, and cut the price range to $9 to $10 from $13 to $15.
shares climbed as high as 114 1/2 in after-hours trading from a close of 107 1/16 after the biotech company announced strong test results for its psoriasis drug,
, and said the drug would begin a Phase III trial.
said it received approval from the
Food and Drug Administration
to use its
drug as treatment for type 2 diabetes as both monotherapy and in combination with metformin.
In other postclose news (earnings estimates from
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
reported third-quarter earnings of 73 cents a share, 3 cents above the 10-analyst estimate and ahead of the year-ago 20 cents.
posted second-quarter earnings of 11 cents a share, a penny above the six-analyst view and ahead of the year-ago nickel.
posted first-quarter earnings of 29 cents a share, 2 cents higher than the five-analyst prediction but a penny shy of the year-ago figure.
said it will report record sales for each of the past four weeks but didn't provide actual figures.
Mergers, acquisitions and joint ventures
said it reached an agreement with the
allowing it to complete its $3.5 billion purchase of
. Under the agreement, Computer Associates will sell six of Platinum's mainframe systems management software products and related assets.
said it will distribute 0.699 shares of
Delphi Automotive Systems
for each GM share on May 28 as part of its previously announced spinoff of the unit.
Offerings and stock actions
announced a 2-for-1 stock split and its stock rose to 72 3/4 in after-hours trading from a regular close of 69.
Shop At Home
filed with regulators to offer 8.85 million shares.
named Edward Ludwig president and said Ludwig will become CEO in 2000, succeeding Clateo Castellini.
Consolidated Natural Gas
said they chose four sites in Ohio, Pennsylvania and West Virginia to develop up to 2,400 megawatts of natural gas-fired generating capacity for a total of up to $800 million.