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Shares of hotly anticipated IPO Buy.comundefined were on a spree, flying 13 1/2, or 103.8%, to 26 1/2 after Merrill Lynch priced 14 million shares above-range at $13 last night.

For more on, take a look at the

story written this morning by's

joint newsroom.

Reuters Group


was also on fire, gaining 20 1/2, or 20.7%, to 120 1/2 after it announced an $802 million plan to move its core business to the Internet, a board shake-up and a 9% rise in 1999 pretax profit. The company also unveiled plans for a new consumer finance portal and joint venture portal aimed at European private investors. An IPO for the group's U.S.-based electronic brokerage unit,


, is also under consideration. In addition, CEO Peter Job said


had agreed with

W.R. Hambrecht

to extend an IPO auction service to Europe.

For more on Reuters, take a look at the swell

story written this morning by's

joint newsroom.

Mergers, acquisitions and joint ventures

Brocade Communications


jumped 7 1/16 to 187 1/8 after it said that



would use Brocade's Silkworm switches in its data storage networks project. Hewlett-Packard fell 3 3/8 to 125 1/8.



gained 4 5/8 to 124 5/8 after it said it would receive a 5.4% interest in



due to Kana's $4.2 billion purchase of CMGI's minority investment in



. Shares of Kana dropped 9 1/2 to 231 1/2, while Silknet lost 5 1/2 to 178.



gained 9/16 to 26 3/4 after it said it entered a deal to sell its Wavepacer digital subscriber product line assets to

ECI Telecom


. ECI Telecom rose 3/16 to 28 9/16


lost 1 9/16 to 137 1/16 after it said it has agreed to purchase Britain-based

Paragon Software

in a deal valued at $500 million. According to the terms, Paragon shareholders would receive roughly 3.6 million shares of and $7.5 million in cash.




lost 5/8 to 69 and

SBC Communications


rose 7/8 to 42 3/4 after the companies said they would invest $150 million in

Network Access Solutions


. In exchange, Network Access would offer its services to Telmex and SBC users. Shares of Network Access gained 7/8 to 35 13/16.

Earnings/revenue reports and previews


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




dropped 7 15/16, or 14.2%, to 47 13/16 after it posted fourth-quarter earnings of $1.18 a share. The report edged out the 18-analyst estimate of $1.10, but some Wall Street analysts are punishing the stock, on concerns that capital gains pushed the report passed the consensus number.

Goldman Sachs

sliced its rating on the stock to market performer from market outperformer.



gained 5 1/4 to 115 1/4 after it posted fourth-quarter earnings of 31 cents a share, a penny better than the four-analyst estimate and up from the year-ago 27-cent profit.

Lincare Holdings


lost 4 1/4, or 11.4%, to 32 7/8 after it posted fourth-quarter earnings of 47 cents a share, in line with the six-analyst estimate and up from the year-ago 40 cents.

Navigant International


rose 9/16 , or 5.8%, to 10 5/16 after posting fourth-quarter earnings of 10 cents a share, in line with the two-analyst estimate and up from the year-ago loss of 5 cents.



dropped 8 3/8, or 18.5%, to 36 7/8 after it warned investors that its fiscal 2000 earnings could fall slightly below the 17-analyst estimate of $2.08 and that it could have softer sales growth for U.S. footwear in 2001. Nike also cited the U.S. dollar strength against the Euro as a potential source of gross margin pressures.



lost 17/32, or 6.1%, to 8 3/16 after it reported fourth-quarter earnings of 18 cents a share, missing the eight-analyst estimate of 19 cents and down from the year-ago 41 cents.

Offerings and stock actions

ING Barings

priced a 4 million-share IPO for



at $12 a share. Shares were popping 8 1/2, or 70.8%, to 20 1/2.

Network Solutions


dropped 2 5/8 to 246 7/8 after it said it set a 7.73 million-share secondary offering at $247 a share.

Analyst actions

Deutsche Banc Alex. Brown

initiated coverage of


with a strong buy rating. Shares of were popping 3 5/16 to 71 1/4.

Deutsche Banc Alex. Brown downgraded

America Online


to buy from strong buy. Shares of AOL were lifting 1 5/8 to 58 11/16.

Credit Suisse First Boston

reinstated coverage of



with a buy rating and a price target of 50. Shares of Amtel were declining 13/16 to 39 1/2.

Goldman Sachs

initiated coverage of

BP Amoco


on its European recommended list. Shares of BP Amoco were falling 11/16 to 47 13/16.

Salomon Smith Barney

raised its fiscal 2000 EPS estimates on

Cox Radio


to $2.38 from $2.30 a share and upped its price target to 100 from 80. Shares of Cox Radio were adding 2 to 87 1/2.

Warburg Dillon Read

sliced its rating in



to hold from buy. Shares of Dell were shedding 2 5/16, or 6.1%, to 35 5/16.

CSFB reinstated coverage of

Efficient Networks


with a buy rating and a price target of 130. Shares of Efficient were jumping 4 1/4 to 102 3/4.

Merrill Lynch

reinstated coverage of



intermediate-term accumulate, long-term buy. Shares of Equant were slipping 2 5/8 to 120 3/8.

Warburg Dillon Read

upped its rating on



to buy from hold. Shares of Elan were tacking on 2 7/16, or 7.6%, to 34 1/8.

Warburg Dillon Read rolled out coverage of



with a buy rating and set a price target of 23. Shares of Fogdog were moving up 13/16, or 7.6%, to 11 3/8.

Warburg Dillon Read initiated coverage of

Orthodontic Centers


with a strong buy rating. Shares of Orthodontic Centers were retreating 1/8 to 16 13/16.

CSFB analyst Wendell Laidley said he feels that

Portal Software


will post fourth-quarter earnings that surpass his 4 cent estimate. Shares of Portal Software were bouncing 6 15/16, or 12.3%, to 63 1/4.

Salomon Smith Barney upgraded



to buy from outperform. Shares of Pepsico were climbing 3/4 to 33 1/8.

J.P. Morgan

started coverage of

Red Hat


with a long buy rating. Shares of Red Hat were shooting up 4 1/8 to 92 3/4.

Goldman rolled out coverage of

Total Fina


on its recommended list. Shares of Total Fina were leaping 3 7/16, or 5.1%, to 69 15/16.

Salomon Smith Barney upgraded

Willamette Industries


to outperform from neutral. Shares of Willamette Industries were lifting 1 1/16 to 37 3/4.

Donaldson Lufkin & Jenrette

rolled out coverage of



with a buy rating. Shares of Veritas were gaining 1 5/16, or 8.1%, to 17 3/8.



dropped its auction commissions, sparking a possible price war with rival




The Wall Street Journal

reported. According to the


, Christie's decision to cut the commissions would make art more expensive to buy and cheaper to sell. Shares of Sotheby's were tacking on 1/8 to 19 7/8.

The tobacco industry is expected to be hit with another class-action lawsuit claiming that major U.S. cigarette companies have illegally fixed prices since the 1980s,

The Wall Street Journal

reported. According to the



Philip Morris



R.J. Reynolds



Brown & Williamson





are expected to be named in the proceedings.

Lately, shares of Philip Morris were declining 15/16 to 19 5/8, while RJ Reynolds were falling 11/16 to 17 15/16.

Shares of Lorillard parent



were sliding 2 5/8 to 54 3/8, while

Brooke Group


, the parent company of Liggett were losing 7/16 to 16 1/8.