Human Genome Sciences (HGSI) was jumping 34 1/4, or 22%, to 188 1/4 on news that it received a U.S. patent on the CCR5 human gene which acts as an important entry point for the AIDS virus.
for $1 billion in stock. TransPoint is an electronic billing and payment joint venture between
Credit Suisse First Boston
reiterated its buy rating on CheckFree with a price target of 110.
CheckFree Holdings was soaring 44 7/8, or 67.9%, to 114 1/16; Microsoft was declining 3/16 to 98 5/8 and First Data was bouncing 1 1/4 to 49 1/2.
Mergers, acquisitions and joint ventures
was bouncing 20 5/16, or 9.1%, to 242 3/8 after it said it is in an alliance to deploy its services within
. AOL was sliding 1 1/2 to 54 1/2.
was climbing 8 7/8, or 8.2%, to 117 after it said it will buy
for 1.56 million shares or about $170 million.
was slipping 1/8 to 127 13/16 after it said that it will acquire
for $355 million.
for about $250 million. Danaher said it would pay $19.25 a share in cash for American Precision. Danaher was unchanged at 41 3/16 and American Precision was popping 7 7/16, or 65%, to 18 7/8.
, the publisher of this Web site, has hired
to explore strategic alternatives, including a potential sale of the company, the
reported, citing people familiar with the matter. The
reported that in recent days, TheStreet.com has been shopped to other Net companies, citing a person familiar with the matter, while another person said the company had been approached by a would-be acquirer. TheStreet.com confirmed that it has retained the services of Wasserstein Perella. TheStreet.com was mounting 7/8, or 5.4%, to 16 7/8.
Earnings/revenue reports and previews
Earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified.
was advancing 1 9/16, or 10.2%, to 16 3/4 after it posted fourth-quarter earnings excluding items of 52 cents a share, a penny ahead of the 16-analyst estimate but down from the year-ago operating earnings of 55 cents.
was climbing 3 15/16 to 123 11/16 after it reported first-quarter earnings of 50 cents a share, beating the 20-analyst estimate of 45 cents and the year-ago 18 cents a share. The company set a 2-for-1 stock split. The company said second-quarter revenues could total $535 million to $545 million and EPS in the range of 55 cents to 57 cents, above the 19-analyst estimate of 48 cents.
was jumping 6 7/8 to 173 1/2 after it posted first-quarter earnings of 80 cents a share, beating the 28-analyst estimate of 77 cents and up from the year-ago 12 cents. The company also set a 2-for-1 stock split. First Boston raised its earnings estimates on Applied Materials and upped its price target to 225 from 185.
Deutsche Banc Alec. Brown
increased its earnings estimate and six-month price target on the stock, while
raised its earnings view and lifted its price target to 200 from 170.
was advancing 11/16, or 7.6%, to 9 11/16 after it posted second-quarter earnings of 20 cents a share, a penny better than the 16-analyst estimate but down from the year-ago 28 cents.
was skidding 5/16 to 34 3/16 after it posted fourth-quarter earnings of 79 cents, better than the 10-analyst estimate of 76 cents and the year-ago 11 cents.
was lifting 4 11/16, or 6.7%, to 73 3/4 after it reported second-quarter earnings last night of 3 cents a share, beating the 14-analyst estimate of a penny and up from the year-ago report of a 2-cent loss.
Modis Professional Services
was moving up 9/16 to 18 1/2 after it posted fourth-quarter earnings of 17 cents a share, a penny ahead of the 12-analyst estimate and up from the year-ago 9 cents a share.
, which plans to merge with
, reported 1999 pretax profit rose 13%, to $3.14 billion. Separately, Glaxo reported pretax profits for 1999 of about $4.4 billion. SmithKline Beecham was slipping 2 1/8 to 53 3/4 and Glaxo Wellcome was losing 2 3/16 to 46 1/2.
was climbing 1 5/8, or 10.4%, to 17 1/4 after it posted first-quarter earnings of 17 cents a share, well above the nine-analyst estimate of 8 cents and the year-ago 9 cents. The company said the customer assets in the latest quarter rose 57% to more than $150 billion, while new account openings rose 56% to 260,000, before acquisitions from 167,000 account openings a year ago.
was shedding 2 3/4 to 56 1/2 after it said it reported fourth-quarter earnings of 19 cents a share, beating the 13-analyst estimate of 14 cents and up from the year-ago 15 cent-profit.
Offerings and stock actions
was declining 3 9/16 to 78 15/16 after it said it filed for a $150 million stock offering. The company said $100 million would be sold by the company, while $50 million will come from shareholders.
was edging up 3/8 to 34 1/4 after it priced an offering of 4.6 million shares at $33.50 each.
priced 3.65 million shares of
at $12 each, the top of the estimated $10 to $12 range. The Charlotte, N.C.-based company allows consumers to compare and apply for various personal loans online. LendingTree was moving up 6 13/16, or 56.7%, to 18 13/16.
reinstated coverage of the major U.S. telecommunications companies today, three months after former analyst Dan Reingold departed for
Credit Suisse First Boston
in exchange for several wheelbarrows full of lucre. Analyst Adam Quinton reinstated coverage of:
- AT&T (T) - Get AT&T Inc. Report, with a buy rating and price target of 70. AT&T was climbing 1 1/2 to 49 1/2;
BellSouth (BLS) , with a buy rating and a price target of 60. BellSouth was lifting 9/16 to 43 3/16;
SBC Communications (SBC) , with an intermediate and long-term buy rating and a 65 price target. SBC Communications was sliding 3/4 to 39 15/16;
Bell Atlantic (BEL) , with a buy rating and a 12-month price target of 80. Bell Atlantic was bouncing 3/4 to 55;
GTE (GTE) - Get Gran Tierra Energy Inc. Report, with a buy rating and a 12-month price target of 97. GTE was advancing 3/4 to 65 9/16;
Qwest Communications (Q) , with an intermediate-term accumulate rating, a long-term buy rating and a 12- to 18-month price target of 65. Qwest Communications was shedding 1 5/8 to 48 3/16;
MCI WorldCom (WCOM) , with an intermediate-term accumulate rating, a long-term buy rating and a 12- to 18-month price target of 75. MCI WorldCom was edging up 1/8 to 48;
Global Crossing (GBLX) , with an intermediate-term accumulate rating, a long-term buy rating and a price objective of 70. Global Crossing was losing 1 1/8 to 59 13/16;
Williams Communications (WCG) - Get WellCare Health Plans, Inc. Report, with an intermediate-term accumulate rating, a long-term buy rating and a 12- to 18-month price target of 55. William Communications was moving up 1 3/4 to 45 3/4; and
U S West (USW) , with an intermediate-term accumulate rating and a long-term buy rating. A 12- to 18-month price objective was placed on the stock of 112, which is based on its 65 target on Qwest -- with which U S West plans to merge -- multiplied by the fixed exchange ratio of 1.7293. U.S. West was skidding 3/16 to 75 1/4.
CSFB raised its price target on
to 50 from 40. ADC was popping 1 5/16 to 40 15/16.
First Boston downgraded
Abercrombie & Fitch
to buy from strong buy and lowered its 12-month target price to 30 from 42.
Deutsche Banc Alex. Brown
downgraded Abercrombie to buy from strong buy. Abercrombie & Fitch was declining 3 7/8, or 19.8%, to 15 5/8.
to attractive from buy, based on the price of the stock, but in an unusual move, boosted the target price to 90 from 80. Agilent was slipping 1 1/4 to 80 5/8.
J.P. Morgan started
as a buy. Celgene was soaring 19 11/16, or 17.3%, to 133 1/2.
Morgan Stanley Dean Witter
sliced its rating on
to outperform from strong buy. The firm also reduced its position in the stock by 1%. Coca-Cola Enterprises was sliding 1 13/16, or 6.4%, to 26 1/8.
Bear Stearns started coverage of
with a buy rating and set a 55 price target on the stock. Deere was hopping 1/8 to 40 9/16.
J.P. Morgan upped
to buy from market performer. Everest Re was gaining 1 13/16, or 8%, to 24 1/4.
First Boston upgraded
Johnson & Johnson
to buy from hold. Johnson & Johnson was climbing 3/16 to 79 15/16.
Bear Stearns started coverage of
with a buy rating and set a price target of 200 on the stock. Network Appliance was jumping 8 3/16, or 5.4%, to 159 3/4.
First Boston initiated coverage of
with a strong buy rating and placed a 12-month price target of 205 on the stock. PurchasePro.com was mounting 12 1/8, or 10%, to 131 1/2.
First Boston raised its earnings estimates and raised its near-term price target on
to 75. Razorfish yesterday posted fourth-quarter earnings of 6 cents a share, a penny ahead of the 10-analyst estimate and up from the year ago 3 cents. Razorfish was shedding 5 3/4, or 11%, to 46 1/8.
Merrill reinstated coverage of
with an intermediate and long-term buy rating. Reynolds Metals was rising 1 1/16 to 70 1/2.
Salomon Smith Barney
upped its rating on
to buy from neutral and raised its price target to 12 from 2. Weirton Steel was adding 7/8, or 10.6%, to 9 1/8.
has told lawmakers that any breakup of the company would be a "regulatory death sentence," the
reported. However, the software titan did signal that it would accept some "common sense" restrictions in an effort to settle the government's antitrust claims against it, the
was unchanged at 7 after it said it will restructure its corporate pharmacy department.
Thousands of tobacco farmers are expected to file suit in federal court today alleging tobacco companies have set out to negate a government-administered system designed to prop up prices for tobacco leaf, the
reported. The newspaper said the suit is expected to seek $69 billion in damages.
The Heard on the Street column in the
says the latest craze to sweep the daytrading world, is snapping up shares of companies that make "fuel cells," huge batteries capable of powering a house, or even a factory, for long periods without recharging. Mentioned among some stocks which have jumped as a result, are
Power Plug was sinking 6 3/8, or 5%, to 120; FuelCell Energy was climbing 2 3/4, or 5.2%, to 55 and Astropower was adding 1/2 to 23 1/8.