Deutsche Telekom (DT) - Get Report is in talks to acquire long distance provider Qwest Communications (Q) , USA Today reported, citing people close to the companies.

The newspaper said Deutsche Telekom has held talks with several local and long-distance telecommunications companies but has now set its sights on Qwest, which is expected to complete a $36 billion merger with

U S West

(USW)

later this year. The newspaper pointed out that breaking up the Qwest-U.S. West deal by bidding solely for Qwest would be difficult considering that shareholders of Qwest and U. S. West have approved their merger. However, Deutsche Telekom could easily afford to buy both firms, but it would likely have to wait until after Qwest and U.S. West's merger is finalized. Deutsche Telekom rose 4, or 4.7%, to 88 5/16 and Qwest rose 5 5/16, or 11.5%, to 51 9/16.

Separately, U.S. West said it is in a deal with

Intel

(INTC) - Get Report

to offer Intel high-speed home networking. U.S. West rose 3 3/8 to 76, while Intel was up 2 1/16 to 115 1/16.

Mergers, acquisitions and joint ventures

CMGI

(CMGI)

,

Hicks Muse Tate & Furst

and

Pacific Century CyberWorks

are forming a new venture capital partnership,

@Ventures Global Partners

. Each entity in the venture capital partnership will invest up to $500 million, to aid the development of Internet companies based in Asia, Europe and the Americas. CMGI shed 1 11/16 to 127 7/8.

eBay

(EBAY) - Get Report

and

Wells Fargo

(WFC) - Get Report

announced a plan to let online sellers take credit card payments when selling over the Internet. Wells Fargo will take a 35% stake in the effort, which will be called Billpoint. eBay rose 7 1/8, or 5%, to 150 1/2; Wells Fargo was up 3/4 to 33 13/16.

Mirage Resorts

(MIR)

rejected

MGM Grand's

(MGG)

$3.4 billion takeover offer as inadequate but said it was willing to discuss a transaction recognizing the company's real value. Mirage said it adopted a shareholder purchase rights plan to assure that its board was in a position to best represent the interests of all its stockholders. Mirage gained 3/16 to 15 15/16, while MGM wasn't so grand, losing 1 point to 18 7/8.

SAP

(SAP) - Get Report

is attempting to form an e-commerce joint venture with

DaimlerChrysler

(DCX)

in hopes of getting a stake in a big online marketplace for the automotive industry,

The Wall Street Journal

reported.

Last week, Daimler said it was teaming up with

Ford

(F) - Get Report

and

General Motors

(GM) - Get Report

for an online automotive-parts exchange. Daimler is the only one of the Big Three automakers that hasn't named a technology partner for the venture yet, the story says. SAP rose 5/16 to 71 5/8; DaimlerChrysler fell 1 3/4 to 66; Ford was up 7/16 to 42 1/16, while GM was lousy, down 1 1/8 to 74 15/16.

SBC Communications

(SBC)

and

BellSouth

(BLS)

are in talks to merge their U.S. cellular-phone businesses to create a nearly national wireless provider,

The Wall Street Journal

reported.

Goldman Sachs

upgraded BellSouth to trading buy from market outperform. SBC was up 8.7%, or 3 5/16, to 41 1/16, while BellSouth gained 1 1/2 to 42 1/16.

Sirius Satellite

(SIRI) - Get Report

said it is in a marketing and technology alliance with

ATX Tech

. Sirius could dig it, up 6 to 67, a 9.6% gain.

Earnings/revenue reports and previews

(

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

)

Expedia

(EXPE) - Get Report

said it will take a onetime reserve of $4 million to $6 million in the current quarter, which is related to fraudulent transactions on Expedia.com. The stock was up 1/4 to 20 1/4.

Fleetwood Enterprises

(FLE)

posted third-quarter earnings of 48 cents a share, a penny shy of the five-analyst estimate and down from the year-ago 59 cents. The stock was off 3/8 to 15 1/6.

Offerings and stock actions

Andrx

(ADRX)

said its board approved a 2-for-1 stock split. The market approved, boosting the stock 4 3/16 to 100 1/4.

Art Technology

(ARTG)

approved a 2-for-1 stock split. The stock rose 10, or 6.9%, to 154 1/2.

Lucent Technologies

(LU)

plans to spin off its

PBX

,

SYSTIMAX

structured cabling and LAN-based data businesses to shareholders, forming a separate company focusing on the enterprise networking market.

Lucent said the new company will start out with an $8 billion business and a customer list that includes more than 90% of Fortune 500 companies. Lucent's board, which has approved the spinoff, is expected to be done via a tax-free distribution of shares to Lucent's shareholders. Lucent anticipates the spinoff to be completed by the close of its fourth fiscal quarter of 2000, which ends Sept. 30.

Donald Peterson, currently Lucent's executive vice president and CFO, will become president and CEO of the new company. Henry Schacht, former Lucent chairman and a current member of the company's board, will become chairman of the new company. The new company will be named at a later date, Lucent said. The stock was up 21.6%, or 13, to 72 1/2.

Goldman Sachs

priced a 5 million-share IPO for

MatrixOne

(MONE)

at $25 a share, above the expected $20-$22 range. The stock was up 44 1/4, or 177%, to 69 1/4.

McLeodUSA

(MCLD)

approved a 3-for-1 stock split. The stock was up 1 point to 89.

Credit Suisse First Boston

priced an 8 million-share IPO for

Onvia.com

(ONVI)

at $21 a share, the top of the estimated range. Onvia.com is an e-marketplace for small companies to buy and sell goods and services. The newbie was up 31 15/16, or 152%, to 52 15/16.

Network Peripherals

(NPIX)

said its 2.5 million-share offering was priced at $60.875 a share. The stock rose 2 1/16 to 63 7/8.

Semitool

(SMTL)

set a 2-for-1 stock split. The stock rose 5 3/4 to 47 3/4, a 13.7% increase.

Webb Interactive Services

(WEBB)

said its board approved a 2-for-1 stock split. Webb Interactive rose 1 to 60 5/8.

Analyst actions

PaineWebber

cut

AMFM's

(AFM)

price target to 87 from 101. The stock rose 2.7% to 62 7/16.

J.P. Morgan

initiated coverage of

AMB Property

(AMB)

with a buy rating. AMB lost 1/16 to 20 1/8.

Goldman Sachs

upped

Bell Atlantic

(BEL)

to trading buy from market performer. The stock rose 4 1/16 to 53, an 8% gain.

J.P. Morgan initiated coverage of

CenterPoint Properties Trust

(CNT)

with a market perform rating. That stock was down, losing 3/8 to 35 15/16.

Deutsche Banc Alex. Brown

started

Chiron

(CHIR) - Get Report

at a buy and set a price target of 74. The stock took off, rising 9 1/2, or 19%, to 59 1/2.

Alex. Brown raised

Coca-Cola

(KO) - Get Report

to strong buy from market perform. Coca-Cola gained 2 7/16 to 51 1/16, or 5%.

US Bancorp Piper Jaffrey

started coverage of

Conmed

(CNMD) - Get Report

as a buy with a price target of 35.

Alex. Brown started

Federated

(FD)

as a buy and set a target of 45. The stock lost 1/4 to 36 7/16.

Lehman upgraded

First Union

(FTU)

to outperform from hold. First Union rose 3/16 to 29 11/16.

J.P. Morgan initiated coverage of

First Industrial Realty Trust

(FR) - Get Report

with a long-term buy rating. The stock was unchanged at 26.

CSFB initiated coverage of

Genentech

(DNA)

with a strong buy rating. The stock rose 24 5/8 to 217 1/2, or 12.8%.

Goldman Sachs started coverage of

Harcourt

(H) - Get Report

and

McGraw-Hill

(MHP)

as market performers. Harcourt rose 1/4 to 34 11/16, while McGraw-Hill lost 3/4 to 50 1/8.

Goldman Sachs upgraded

GTE

(GTE) - Get Report

to trading buy from market performer. The stock rose 4 1/16 to 63 1/16, or 6.9%.

Alex. Brown started

J.C. Penney

(JCP) - Get Report

and

Nordstrom

(JWN) - Get Report

at market perform. J.C. Penny lost 1/8 to 15 5/8 and Nordstrom lost 1/16 to 21 1/4.

CSFB reinitiated coverage of

Liberate Technologies

(LBRT) - Get Report

with a buy rating. Shares were up 3 11/16 to 105 9/16.

DB Alex. Brown initiated coverage of

May Department Stores

(MAY)

with a buy rating and set a price target of 35 on the stock. May was higher by 1/16 to 26 1/4.

Lehman named

Noble Affiliates

(NBL) - Get Report

and

Union Pacific Resources

(UPR)

as buys. Noble gained 3/8 to 22 7/8, and Union Pacific rose 3/8 to 9 5/16.

PaineWebber raised

Pacific Sunwear's

(PSUN)

2000 earnings estimates to $1.40 from $1.32. The stock fell 15/16 to 24 1/2.

Alex. Brown started coverage of

Sears

(S) - Get Report

as a market perform. Sears was flat at 27 9/16.

Warburg Dillon Read started coverage of

Sequenom

(SQNM)

as a buy and set a price target of 160. The stock gained 9 1/2 to 134 1/2, or 7.6%.

Alex. Brown raised

Smurfit-Stone

(SSCC)

to strong buy from buy. The stock gained 1 3/8 to 15.

CSFB initiated coverage of

Spartech

(SEH)

with a buy rating. Spartech gained 15/16 to 26 7/16.

Merrill Lynch named

Viacom

(VIA) - Get Report

a focus one stock and said its 12-month price target is 75. Viacom rose 11/16 to 56 1/16.

Miscellany

Dutch insurer

Aegon

(AEG) - Get Report

said it would divest the noncore, noninsurance activities of its U.S.

Transamerica

unit. The stock shed 5/16 to 69 5/16.

FedEx

(FDX) - Get Report

said it would add a 1% fuel surcharge effective April 1. FedEx was flat at 34 15/16.

MCI WorldCom

(WCOM)

and Britain's

Cable & Wireless

(CWZ)

have settled their dispute stemming from Cable & Wireless' acquisition of former

MCI Communication's

Internet business at the time of the MCI and WorldCom merger in 1998.

MCI WorldCom will pay Cable & Wireless $200 million, and Cable & Wireless has agreed to withdraw all litigation and regulatory complaints related to the transaction. MCI WorldCom said the settlement won't impact its earnings. MCI Worldcom was higher, up 1 1/4 to 45 7/8, while Cable & Wireless rose 2 3/16 to 88 11/16.

SmithKline Beecham

(SBH) - Get Report

has obtained a new U.S. patent on its antibiotic

Augmentin

.

Glaxo Wellcome

(GLX)

and SmithKline announced in January they plan to merge. SmithKline Beecham rose 2 points to 57 13/16; Glaxo Wellcome was up 2 5/16 to 50 5/16.

Sotheby's

(BID) - Get Report

and

Christie's International

are in talks with plaintiffs' lawyers that could result in the quick settlement of dozens of civil antitrust lawsuits. In addition, Sotheby's announced a new pricing structure, revising its rates to make them nearly identical to Christie's, which changed rates three weeks ago. Sotheby's was up 2 11/16, a 13.7% gain, to 22 3/8.

As part of its cost-cutting plan,

Weyerhaeuser

(WY) - Get Report

said it is closing four packaging plants. The stock rose 1/2 to 51 13/16.