MGM Grand



Marriott International

(MAR) - Get Report

canceled plans to build a 1,500-room hotel next to MGM Grand's flagship property in Las Vegas. MGM Grand said that, in light of completed and future projects adding capacity to the Las Vegas market, it believes it can more productively use resources for new construction in Detroit.

In other postclose news (earnings estimates from

First Call

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

Earnings/revenue reports and previews

Bush Boake Allen


said it sees first-quarter earnings of 21 cents to 24 cents a share because of soft market demand for aroma chemicals in Europe, Asia and Latin America. The three-analyst outlook called for 41 cents vs. the year-ago 39 cents.

Crestline Capital


posted 1999 earnings of $1.19 a share, behind the single-analyst forecast for $1.20 but above the year-earlier 95 cents.


(SYNL) - Get Report

warned its first-quarter results will fall below estimates because of delays in installation projects. The single-analyst view calls for a break-even quarter compared with the year-ago loss of a dime a share.

Mergers, acquisitions and joint ventures

PSB Bancorp


said it will buy

First Bank of Philadelphia


in a stock deal valued at $15.7 million.

Synovus Financial

(SNV) - Get Report

agreed to acquire

Merit Holding


in a stock deal worth about $110 million. Synovus will pay 1.05 shares for each share of Merit.

Offerings and stock actions

CapRock Communications


filed for a secondary offering of 6.5 million shares.


(OKE) - Get Report

announced a plan to repurchase up to 15% of its 31.5 million shares outstanding.

Wilmar Industries


said it will buy back 1 million shares, or 7.5% of its outstanding stock.


Protection One


said acting CFO John Mack will replace James Mackenzie as CEO.