LVMH Moet Hennessy Louis Vuitton
said it ended its effort to put a representative on
board. The company also said it canceled a special shareholders meeting slated for March 23. LVMH launched a hostile bid for Italy's Gucci earlier this year, but the company's stake in Gucci was lowered to 26% after Gucci instituted an employee stock option plan.
In other postclose news (earnings estimates from
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
American Eagle Outfitters
reported fourth-quarter earnings of $1.03 a share, 7 cents better than the six-analyst expectation and up from the year-ago 68 cents. The company said same-store sales rose 23.8% in the fourth quarter and 32.1% in 1998.
reported fourth-quarter earnings of 31 cents a share, 1 cent below the nine-analyst forecast and behind the year-ago 42 cents.
announced a fourth-quarter net loss of 18 cents a share, including charges. The three-analyst forecast called for operating earnings of 17 cents a share vs. the year-ago profit of 40 cents.
posted second-quarter earnings of 6 cents a share, in line with the nine-analyst view but below the year-ago 12 cents.
recorded fourth-quarter earnings of 5 cents a share, 2 cents higher than the three-analyst outlook but below the year-ago dime.
Kaufman & Broad Home
said it's comfortable with the 10-analyst forecast for first-quarter earnings of 32 cents a share, vs. the year-ago 20 cents, and the 1999 estimate of $3.12, vs. the year-ago $2.32.
said it reduced to $146 million from $225 million a 1998 charge related to last year's
Network Equipment Technologies
said it will take $5 million to $6 million in fourth-quarter restructuring charges. The move includes cutting its global workforce by about 10%, which the company said will reduce costs by $25 million.
reported first-quarter earnings of 31 cents a share, a penny ahead of the 11-analyst estimate and above the year-ago 28 cents.
Offerings and stock actions
priced the 7.7 million-share IPO of Greece-based
(ANTV:Nasdaq) above range at $15 a share.
Level 3 Communications
said it increased it previously announced offering to 25 million shares from 20 million.
RF Micro Devices
announced a 2-for-1 stock split.
Pratt & Whitney
, a unit of
Dow Jones Industrial Average
, to recover what the government said is $75 million in overcharges to the
for jet engines.