Micron Sees Second-Quarter Earnings Below First Quarter

Plus, Whirlpool sees earnings at 'record' level.
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Micron Electronics

(MUEI)

warned it sees second-quarter earnings and sales falling below first-quarter figures because of slower PC sales. The 15-analyst

First Call

outlook called for earnings of 14 cents a share vs. the year-ago loss of 23 cents. In the first quarter, the company made 12 cents. The PC direct marketer said many of its customers were waiting for

Intel's

(INTC) - Get Report

Pentium III chip, released Friday.

In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews

Ilex Oncology

(ILXO)

said it expects its first full year of profitability to be in 2001.

Teligent

(TGNT)

reported a fourth-quarter loss of $2 a share, a penny wider than the eight-analyst outlook and worse than the year-ago loss of $1.21. The company said its 1999 targets include $35 million in annual revenue, $300 million in capital outlays and 10,000 customers.

Transportation Components

(TUI)

reported fourth-quarter earnings of 8 cents a share, including a 3-cent provision for an inventory adjustment. The three-analyst forecast called for operating earnings of 13 cents vs. the year-ago 12 cents.

VISX

(VISX)

said it expects to record first-quarter earnings of 51 cents to 55 cents a share because of strong demand. The four-analyst view called for 36 cents vs. the year-ago 23 cents.

Whirlpool

(WHR) - Get Report

said its first-quarter and full-year earnings will be at "record" levels and that it approved the repurchase of $250 million in stock. The company also said it will restructure its Brazilian operation's balance sheet to lessen the impact of fluctuations it the country's

real

currency.

World Airways

(WLDA)

posted a fourth-quarter loss of 42 cents a share, including charges. The single-analyst forecast called for an operating loss of 15 cents vs. the year-ago loss of 30 cents.

In other earnings news:

Mergers, acquisitions and joint ventures

Shop At Home

(SATH)

agreed to buy

Paxson Communications'

(PAX)

WBPT TV station in Connecticut to expand its reach into a portion of the New York market. Terms of the deal were not disclosed.

Offerings and stock actions

Citrix Systems

(CTXS) - Get Report

set a 2-for-1 stock split.

Gulfstream

(GAC)

said it will buyback up to $200 million in stock.

Miscellany

Barra

(BARZ)

said it began a search for a new CEO to replace Andrew Rudd.

DaimlerChrysler

(DCX)

confirmed the resignations of two senior vice presidents, Shamel Rushwin and Chris Theodore. Both left to work at

Ford

(F) - Get Report

.

Dell

(DELL) - Get Report

lowered prices on its

Precision WorkStation 210

by up to 9.5%.

Lernout & Hauspie

(LHSPF)

said its founders will buy up to $40 million in company stock.

PanAmSat

(SPOT) - Get Report

named COO R. Douglas Kahn president and chief executive, effective April 1. He will replace Frederick A. Landman, who resigned.

Pier 1 Imports

(PIR) - Get Report

named CEO Marvin Girouard to the additional post of chairman. Clark Johnson recently retired as chairman.

Walter Industries

(WLT)

said it hired

Salomon Smith Barney

to help it investigate strategic alternatives for its

Jim Walter Resources

coal mining and methane gas unit.