The

Justice Department

approved

America Online's

(AOL)

$4.28 billion acquisition of

Netscape

(NSCP)

. AOL lifted to 96 1/8 from a close of 95 13/16 in after-hours trading; Netscape was up to 85 1/2 from a close of 84 7/8.

Microsoft

(MSFT) - Get Report

, which claims the AOL/NSCP deal renders the feds' antitrust case against it irrelevant, lowered to 160 1/60 from 160 3/16 in after-hours trading.

In other postclose news (earnings estimates from

First Call

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

Earnings/revenue reports and previews

Meritage

(MTH) - Get Report

said its first-quarter earnings will be "significantly" below the three-analyst forecast for 52 cents a share because of construction delays in Arizona. The company earned 26 cents in the year-ago period.

Scotts

(SMG) - Get Report

said it closed its

White Swan

unit, which it hopes will help annual earnings by about $2 million.

St. John Knits

(SJK)

reported first-quarter earnings of 34 cents a share, 2 cents below the two-analyst outlook and behind the year-ago 54 cents.

Usana

(USNA) - Get Report

said it expects first-quarter results to fall 2 cents or 3 cents below the two-analyst estimate for 18 cents a share due to weakness in the nutritional supplements market in North America. In the year-ago quarter, the company made 14 cents.

Mergers, acquisitions and joint ventures

HealthRite

(HLRT)

said it's exploring strategic alternatives, including issuing more stock, mergers, acquisitions, sales or joint ventures. The company said it's already in talks with unnamed consumer products companies.

Dutch electronics group

Philips Electronics

(PHG) - Get Report

said it seeks to remove the board of

VLSI Technology

(VLSI)

to force the company to consider its hostile $777 million bid.

Offerings and stock actions

Park Place Entertainment

(PPE)

approved the repurchase of up to 8 million shares.

Miscellany

Ecuador's central bank head and three other board directors resigned in disagreement with President Jamil Mahuad's handling of the nation's financial crisis.

In a move aimed at unseating the current board of

RJR Nabisco Holdings

(RN)

and spinning off the company's food business, financier Carl Icahn unveiled his nine nominees. In addition to himself, Icahn selected Jerome Becker, Harold First, Seymour Fliegal, Russell Glass, Martin Hirsch, Robert Mitchell, Felix Pardo and Jack Wasserman.

Trimeris

(TRMS)

named Dani Bolognesi chief executive, replacing M. Ross Johnson.