Intuit Meets Estimates but Suffers; VA Linux Misses - TheStreet

Intuit

(INTU) - Get Report

reported second-quarter earnings of 44 cents a share excluding charges, in line with the 15-analyst estimate but a penny lower than the year-ago earnings. Intuit, which makes personal finance software, said U.S. tax returns filed via the Web were up fivefold from last year and also said it was on track for 20% operating income growth over fiscal 1999. Despite the results, Intuit was sliding in after-hours trading, lately off 8 3/4 to 63 1/2 on

Island

.

VA Linux

(LNUX)

posted a second-quarter pro forma loss of 36 cents a share, wider than the four-analyst expected loss of 21 cents and the year ago loss of 26 cents. The company went public in December with a record-setting first-day percentage gain of almost 700%. Despite the increased loss, revenues rose more than sixfold to $20.2 million from $3.17 million, the company said.

CVS

(CVS) - Get Report

is near an agreement to buy the pharmacy benefits management business of ailing rival

Rite Aid

(RAD) - Get Report

for up to $1 billion,

Reuters

reported, citing sources close to the situation.

Inflows to equity funds totaled $3.8 billion for the week ended yesterday, according to

AMG Data Services

. Technology funds reported inflows of $1.6 billion, health care & biotech $1.2 billion, and aggressive growth funds $1 billion. Meanwhile, large-cap equity index funds reported the largest outflows since Aug. 4. International equity funds reported inflows of about $1.2 billion. Taxable bond fund outflows totaled $903 million.

In other postclose news (

earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified

):

Earnings/revenue reports and previews

Autodesk

(ADSK) - Get Report

posted fourth-quarter earnings of 48 cents a share, beating the eight-analyst estimate of 41 cents and matching the year-ago figure.

Bebe Stores

(BEBE)

said it expects same-store sales growth to be slightly negative to flat for the March quarter. The retailer said it had a 2.5% negative sales same-store growth for January and flat February sales to date.

W.R. Berkeley

(BKLY)

reported a fourth-quarter loss of $1.50 a share, wider than the single-analyst expected loss of $1.48 and the year-ago loss of 43 cents.

Fila Holding

(FLH)

reported a fourth-quarter loss of 86 cents a share, narrower than the single-analyst expected loss of 95 cents and the year-ago loss of $2.56.

Internet Capital Group

(ICGE)

reported a fourth-quarter loss of 9 cents a share, compared with year-ago earnings of 2 cents. The stock was getting hit in after-hours trading following remarks by the company that it sees losses in many quarters for the foreseeable future, and volatility in quarterly results based on e-commerce interests. Shares lost 12 5/8 to 106 1/2 on Island.

Puma Technology

(PUMA)

reported second-quarter pro forma earnings of 3 cents a share, excluding amortization of goodwill and other acquisition-related charges. Including the items, the company reported a loss of 2 cents a share. Both numbers beat the three-analyst expected loss of 7 cents and the year-ago pro forma loss of 14 cents.

Quanex

(NX) - Get Report

reported first-quarter earnings of 29 cents a share, in line with the six-analyst estimate and up from the year-ago 27 cents.

Semtech

(SMTC) - Get Report

posted fourth-quarter earnings of 29 cents, edging out the seven-analyst estimate of 27 cents and the year-ago 12 cents.

Startec

(STGC)

reported a fourth-quarter net loss of $1.15 a share, narrower than the four-analyst expected loss of $1.18 and even with the year-ago loss.

Tandy Brands

(TBAC)

said it sees third-quarter sales and earnings below last year's levels. The company said it expects earnings in the range of 5 cents to 12 cents a share, well below the four-analyst estimate of 30 cents.

Miscellany

Compaq

(CPQ)

said it has appointed

Ernst & Young

as its independent accountants, replacing

PricewaterhouseCoopers

. Compaq said the change was related to an investigation by the

Securities and Exchange Commission

of PricewaterhouseCoopers' independence violations.

Piedmont Natural Gas

(PNY)

said its CEO will retire.

Warner-Lambert

(WLA)

denied a media report that its controversial diabetes drug Rezulin is being pulled from the market. The statement came in response to a

CBS News

report yesterday that cited unnamed sources and said several scientists from the

Food and Drug Administration

believe the drug's risks outweigh its benefits.

Wausau-Mosinee Paper

(WMO)

said Daniel Olvey, its president and CEO has resigned. San Orr Jr., the company's chairman, will assume the duties of CEO until a successor is found. Olvey also resigned from his position as director of the company.