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TeleCorp (TLCP) has entered a $5.3 billion stock deal to buy wireless phone company Tritel (TTEL) , The Wall Street Journal reported.

TeleCorp is the biggest affiliate of


(T) - Get AT&T Inc. Report

wireless division. TeleCorp dropped 10, or 18.5%, to 44 1/16, Tritel tacked on 6 3/16, or 25.8%, to 30 3/16 and AT&T gained 2 to 47.






raised the expected price range of its IPO to between $30 and $32 a share from between $14 and $16 a share.

After the offering, its parent, 3Com, will receive 532 million shares and will divest the shares within six months by handing them over to its stockholders. 3Com was up 9 15/16, or 12.6%, to 89.

Elsewhere, three stocks made trading debuts today. (See table below for latest results)

Mergers, acquisitions and joint ventures


(DOX) - Get Amdocs Limited Report

climbed 7 11/16, or 11.7%, to 73 3/16 after it said it has entered a $1 billion stock deal to buy Canadian customer-service software maker

TheStreet Recommends

Solect Technology

. Amdocs will issue 15.5 million shares and options for all of Solect's shares.

Merger partners

America Online


slipped 7/8 to 59 3/4 and

Time Warner


lost 7/16 to 86 1/4 after the

The Wall Street Journal

reported the companies will announce that they will open their cable-TV lines to several Web providers.

According to the


, the announcement could ease regulators' concerns related to the deal, but could also face criticism on whether it allows for nondiscriminatory access.

Clear Channel

(CCU) - Get Compania Cervecerias Unidas S.A. Sponsored ADR Report

dropped 8 3/8, or 11.2%, to 66 3/4 after it agreed to pay $4.4 billion in stock for

SFX Entertainment


, the companies said. The acquisition, which includes $1.1 billion in SFX debt, would close in the third quarter of fiscal 2000. SFX climbed 11/16 to 38 11/16.



gained 9/16, or 5.9%, to 10 1/8 after it agreed to an Asian Internet venture with

Hutchinson Whampoa


MGM Grand





that it has obtained financing for its proposed acquisition of Mirage,

The Wall Street Journal

reported. According to the


, MGM is troubled that



could launch an offer to rival its $3.4 billion bid. MGM Grand lost 1/8 to 20 1/16, Mirage slipped 1/16 to 15 7/8 and Harrah's lost 3/16 to 19 1/2.

24-7 Media


lost 3 1/8, or 6.3%, to 46 3/8 after it said it will acquire


in a $490 million stock swap. 24-7 Media said it will issue 0.60 shares for each share. Exactis popped 7 7/16, or 39.8%, to 26 1/8.

Veeco Instruments

(VECO) - Get Veeco Instruments Inc. Report

hopped 12 3/4, or 17.2%, to 87 1/16 after it agreed to acquire



in a stock deal valued at $380 million. CVC jumped 5 3/8, or 18.5%, to 34 3/8. According to the terms, CVC shareholders would receive 0.43 Veeco share in exchange for each of their CVC shares. The deal values CVC at a 10% premium to Monday's closing price of 29, based on Veeco's closing price of 74 15/16.



inched up 1/8 to 16 3/4 after it agreed to pact with

TL Ventures


EnerTech Capital Partners

to start a Web site to target suppliers and carriers called

. James Ritchie, former Ryder Integrated Logistics vice president, has been tapped as the site's president and CEO.

Earnings/revenue reports and previews


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


BJ's Wholesale

(BJ) - Get BJ's Wholesale Club Holdings, Inc. Report

rose 1 13/16, or 6.3%, to 30 7/16 after it reported fourth-quarter earnings of 63 cents a share, a penny better than the eight-analyst estimate and up from the year-ago 50 cents.

National Discount Brokers


popped 9 5/8, or 31.1%, to 40 3/4 after saying it expects its third-quarter earnings to greatly beat the two-analyst estimate of 8 cents a share.

United Rentals

(URI) - Get United Rentals, Inc. Report

slipped 1/4 to 15 5/8 after it reported fourth-quarter earnings of 48 cents a share, a penny better than the nine-analyst estimate and up from the year-ago 33 cents.



inched up 1/4, or 8.3% to 3 1/4 after it reported second-quarter loss of 36 cents, in line with the four-analyst estimate but down from the year-ago 26 cents.

Offerings and stock actions

Analyst actions

Lehman Brothers

initiated coverage of



with a buy rating and a price target of 250.

Morgan Stanley Dean Witter

started Avanex at outperform and also set a 250 target, while

U.S. Bancorp Piper Jaffray

started it at strong buy with a target of 240. Avanex's post-IPO quiet period ended yesterday. Avanex jumped 14 7/8, or 7.1%, to 222 7/8.

Deutsche Banc Alex. Brown

raised its rating on



to buy from market perform. Aether soared 45, or 21.1%, to 258.

Morgan Stanley upgraded


(BUD) - Get Anheuser-Busch InBev SA/NV Sponsored ADR Report

to strong buy from outperform. Anheuser-Busch edged up 2 5/16 to 63 9/16.

U.S. Bancorp Piper Jaffray initiated


(AGEN) - Get Agenus Inc. Report

at strong buy with a price target of 62. Antigenics leaped 11 1/4, or 27.5%, to 51.

Goldman Sachs


Circuit City

(CC) - Get Chemours Co. Report

to the recommended list from market outperformer. Circuit City added 3 11/16, or 10.3%, to 39 1/2.

Goldman started coverage of

Digital Island


at market outperform. Digital Island mounted 6 5/16, or 5.6%, to 117 11/16.

Deutsche Banc Alex. Brown raised its rating on

Equitable Resources

(EQT) - Get EQT Corporation Report

to buy from market perform. Equitable lifted 2 7/16, or 7%, to 37.

Warburg Dillon Read

initiated coverage of

HealthGate Data


at strong buy with a price target of 21. HealthGate bounced 2 1/2, or 29.8%, to 10 7/8.

Lehman Brothers sliced its rating on

Hershey Foods

(HSY) - Get Hershey Company (HSY) Report

to outperform from buy. Hershey declined 1 15/16 to 42 3/16.

J.P. Morgan

sliced its rating on

First Tennessee National


to market performer from buy. First Tennessee slid 6 7/16, or 27.3%, to 17 1/16.

Wit Soundview

raised its price target on

Integrated Silicon


to 35 from 22. Integrated Silicon bounced 1 3/8, or 5.4%, to 26 1/2.

Wit Soundview rolled out coverage of

Juniper Networks

(JNPR) - Get Juniper Networks, Inc. (JNPR) Report

with a strong buy rating and set a price target of 350. Juniper Networks mounted 23 7/16, or 10.1%, to 252 5/16.

Merrill Lynch

raised its fiscal 2000 earnings estimate on

Lehman Brothers


to $8.60 a share from $7.70 and its 2001 estimates to $9.15 a share from $8.65. Lehman tacked on 3 to 70 13/16.

Goldman rolled out coverage of

Mediacom Communications


, adding it to its recommended list. Mediacom gained 9/16 to 17 1/2.

Credit Suisse First Boston initiated coverage of the following medical device manufacturers:

Johnson & Johnson

(JNJ) - Get Johnson & Johnson (JNJ) Report

with a strong buy. Johnson & Johnson fell 13/16 to 71 15/16;

Abbott Labs

(ABT) - Get Abbott Laboratories Report

with a buy. Abbott Labs lost 1/16 to 33 1/8;

C.R. Bard


with a hold. C.R. Bard edged up 5/16 to 39 9/16;

Becton Dickinson

(BDX) - Get Becton, Dickinson and Company Report

with a hold. Becton Dickinson shed 1/8 to 30 7/8;

Boston Scientific

(BSX) - Get Boston Scientific Corporation Report

with a hold. Boston Scientific added 1/4 to 18 1/4;

St. Jude


with a hold. St. Jude lifted 1/16 to 24 7/8;



with a buy. Guidant stumbled 1/4 to 67 1/8;


(MDT) - Get Medtronic Plc (MDT) Report

with a buy. Medtronic skidded 3/8 to 47 5/8.

Merrill Lynch upgraded

Smurfit-Stone Container


to buy from accumulate. Smurfit-Stone hopped 1 5/16, or 10.4%, to 13 7/8.

Wit Soundview upped its price target

Uniroyal Technology


to 70 from 55. Uniroyal moved up 6 15/16, or 14.5%, to 54 3/4.


Five of Wall Street's biggest firms --

Merrill Lynch



Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. (GS) Report


Morgan Stanley Dean Witter



Edward Jones


ABN Amro

-- are calling for a new market system that would have a central display for all stock quotes and one self-regulating group,

The Wall Street Journal

reported. According to the


, the firms' controversial proposal would give more control to broker-dealers, while lessening the importance of the

New York Stock Exchange

and the




(BA) - Get Boeing Company Report

declined 1/4 to 36 3/4 after it said it would begin manufacturing two new long-range versions of its 777 jetliner, with expected delivery on September 2003.

British Telecom


lost 4 9/16 to 175 15/16 after it said it would make its evening Internet access free and cut its subscription charges by 15% in order to compete with other ISPs in Britain.

Philip Morris

(MO) - Get Altria Group Inc Report

gained 1/16 to 20 1/8 after it said it would give up its fight to block the

Food and Drug Administration

proposals aimed at regulating the tobacco industry, reported in

The Washington Post