i2 Technologies

(ITWO)

shed 17 1/2, or 8.4%, to 190 1/2 after saying it is buying

Aspect Development

(ASDV)

for $9.3 billion. Aspect Development climbed 12, or 14.1%, to 97.

According to the terms of the deal, i2 would swap 0.55 share for each Aspect share after Aspect's 2-for-1 stock split. After the merger is completed, Aspect shareholders will own 18% of the company.

Separately, i2 said it has entered a $280 million stock deal to acquire closely held

Supplybase

. i2 said the deals would not effect fiscal 2000 cash earnings but would contribute to the fiscal 2001 report.

Tribune

(TRB)

dropped 8 , or 21.5%, to 29 3/16 after it said it is buying

Times Mirror

(TMC)

. Times Mirror jumped 35 15/16, or 75%, to 83 7/8. Tribune is the publisher of the

Chicago Tribune

, and also owns numerous television stations in addition to the

Chicago Cubs

Major League Baseball

franchise. Times Mirror is publisher of the

Los Angeles Times

and

Newsday

. Following completion of the deal, Tribune Company will have 11 daily newspapers, 22 television stations and four radio stations.

Mergers, acquisitions and joint ventures

Six big Wall Street firms and

Communicator

announced the creation of

Securities.Hub

, an e-commerce concern that will host a series of online marketplaces linking firms with institutional investors.

Goldman Sachs

(GS) - Get Report

,

J.P. Morgan

(JPM) - Get Report

,

Lehman Brothers

(LEH)

,

Merrill Lynch

(MER)

,

Morgan Stanley Dean Witter

(MWD)

and

Citigroup's

(C) - Get Report

Salomon Smith Barney

will own a majority interest in the business. Communicator will provide the infrastructure and operate the business and have a minority interest.

Goldman Sachs gained 1 1/8 to 113 3/8, J.P. Morgan gained 3 to 109 1/16, Lehman Brothers lost 1 3/16 to 80 15/16, Merrill Lynch lost 2 15/16 to 102, Morgan Stanley moved down 2 1/2 to 84 1/8 and Citigroup inched up 1/2 to 49 7/16.

CoreComm Limited

(COMM) - Get Report

inched up 1/8 to 48 after it said it is buying

Voyager.net

(VOYN)

for about $540 million in cash and stock. Voyager.net rose 1 5/8, or 12.5%, to 14 5/8.

E*Trade

(EGRP)

slipped 3/16 to 26 5/16 after it said it is buying

Card Capture Services

, the largest independent network of centrally managed automated teller machines in the U.S. Terms of the deal weren't disclosed.

General Motors

(GM) - Get Report

and

Fiat

said they formed a strategic industrial alliance. General Motors will buy a 20% stake in Fiat for $2.4 billion in GM stock. GM also said it will buy back $2.4 billion of its common stock by the end of the year and said it increased its

Hughes

(GMH)

exchange offer to $9 billion from $8 billion. General Motors climbed 13/16 to 78 5/8, while Hughes lost 1 1/4 to 128 7/16.

IBM

(IBM) - Get Report

rose 2 11/16 to 107 15/16 after it said it is teaming up with

Cisco

(CSCO) - Get Report

,

Ericsson

(ERICY)

,

Intel

(INTC) - Get Report

,

Motorola

(MOT)

,

Nokia

(NOK) - Get Report

,

Palm

(PALM)

,

Symbian

and others to supply products and services to bring e-business applications to wireless devices. Cisco climbed 2 1/16 to 138 3/8; Ericsson fell 1 11/16 to 98 15/16; Intel gained 4 1/8 to 124 5/16; Motorola rose 1 5/8 to 176 1/2; Palm dropped 3 5/8, or 5.2%, to 66 3/8 and Nokia was unchanged at 215.

L-3 Communications

(LLL) - Get Report

lost 1/2 to 44 1/16 after it said it is buying the

Traffic Alert and Collision Avoidance System

product line from

Honeywell

(HON) - Get Report

for $255 million. Honeywell lost 1 1/8 to 44 1/4.

Microsoft

(MSFT) - Get Report

moved down 1 1/4 to 99 1/4 after it and

Andersen Consulting

agreed to a $1 billion pact to form a joint venture called

Avenade

, a technology services firm that will employ 5,000 and contribute to building Internet businesses using Microsoft software.

Radio One

(ROIA)

lost 1 3/4 to 64 after it said it will buy 12 stations from

Clear Channel

(CCU) - Get Report

for $1.3 billion and three stations from

Shirk

for $40 million. Radio One will also buy

Davis Broadcasting

for $24 million.

Texas Utilities

(TXU)

tacked on 1/16 to 26 11/16 after it said it was launching an offer for Spanish utility

Hydroelectrica del Cantabrico

for 21.25 euros a share, or 2.4 billion euros.

Tommy Hilfiger

(TOM)

is believed to be in talks to buy all or part of privately owned

Calvin Klein

,

The Sunday Telegraph

in London reported. Calvin Klein could be valued at $1 billion, the newspaper said. Tommy Hilfiger moved up about 2.6%, to 14.

Ventro

(VNTR) - Get Report

dropped 4 5/16 to 177 and

Webmethods

(WEBM)

gained 7 1/2 to 240 after they said they entered a software deal.

Earnings/revenue reports and previews

(

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

)

TheStreet Recommends

Anixter

(AXE) - Get Report

added 1 3/4, or 8.9%, to 21 7/16 after it said it expects first-quarter earnings-per-share to exceed estimates by 15% to 20%. The company said it expects earnings between 38 cents and 40 cents a share, compared with the year-ago earnings of 19 cents. The current two-analyst estimate is for 34 cents a share.

Progressive

(PGR) - Get Report

moved up 1 1/2 to 51 1/14 despite saying its first-quarter earnings would fall below estimates. The current 14-analyst estimate calls for earnings of 50 cents a share.

Offerings and stock actions

Applied Micro Circuits

(AMCC)

said its board set a 2-for-1 stock split. Applied Micro Circuits advanced 2 to 293.

Celgene

(CELG) - Get Report

said its board set a 3-for-1 stock split. Celgene moved down 1 13/16 to 166 11/16.

Commerce One's

(CMRC)

board approved a 2-for-1 stock split. Commerce One slipped 4 9/16 to 262 1/8.

Datalink.net

(DLK)

set a 2-for-1 stock split. Datalink.net jumped 9 3/8, or 18.1%, to 61 5/16.

Luxottica

(LUX)

said it plans a 2-for-1 stock split and will apply for listing on the

Milan Stock Exchange

by the end of 2000. Luxotica lifted 3/8 to 24.

Nortel Networks

(NT)

said it plans to spin off its

Netgear

division as a separate company. Nortel said that

Pequot Capital

would take a $15 million stake in the new company. Nortel Networks was down 1 5/16 to 122 1/8.

Analyst actions

Morgan Stanley Dean Witter

raised

AMR

(AMR)

to strong buy from outperform. AMR declined 5/8 to 56 1/4.

Merrill Lynch

reinstated

Broadwing

(BRW)

with a near-term accumulate, long-term buy and a 12- to 18-month price target of 50. Broadwing slipped 1 3/4 to 37 3/16.

PaineWebber

raised its 12-month price target on

Calpine

(CPN)

to 150 a share. Calpine stumbled 2 1/8 to 108 7/8.

Credit Suisse First Boston

cut its rating on

Chiron

(CHIR) - Get Report

to buy from strong buy. Chiron plummeted 10 3/4, or 17.9%, to 49 3/16.

Donaldson Lufkin & Jenrette

added

Compaq

(CPQ)

to its value list. Compaq shed 7/16 to 28 1/8.

Banc of America Securities

and

Bear Stearns

upgraded

Dell

(DELL) - Get Report

. Banc of America upgraded Dell to strong buy from buy. Bear Stearns upgraded Dell to buy from attractive. Dell popped 3 1/2, or 6.8%, to 54 3/4.

Deutsche Banc Alex. Brown

started coverage of

Diversa

(DVSA)

with a buy rating and a 157 price target. Diversa slipped 8 7/8, or 8.8%, to 92.

Thomas Weisel

analyst Doug van Dorsten started coverage of

Eloquent

(ELOQ)

with a buy rating and a 12-month price target of 60. Eloquent declined 2 3/4, or 6.9%, to 36 3/4.

Warburg Dillon Read analyst Claire Nickson-Havens raised her rating on

eSpeed

(ESPD)

to strong buy from buy and boosted the price target to 100 from 80. eSpeed climbed 8 3/8, or 11.2%, to 83 1/8.

J.P. Morgan

set a 12-month price target for

FleetBoston Financial

at 38. FleetBoston Financial added 11/16 to 26 3/8.

Robertson Stephens

upgraded

Intel

(INTC) - Get Report

to strong buy from buy. Intel gained 3 11/16 to 123 13/16.

Jefferies

said it started coverage of

Juno Online

(JWEB)

with a buy rating and a 12-month price target of 40. Juno Online jumped 4 1/8, or 20.7%, to 24.

DB Alex. Brown upgraded

Knight/Trimark

(NITE)

to strong buy from buy. Knight/Trimark advanced 3 1/4, or 6.5%, to 52 3/4.

DLJ said it raised

Kohl's

(KSS) - Get Report

to buy from market performer. Kohl's lifted 3 to 86 1/8.

SG Cowen

said it started coverage of

Landacorp

(LCOR)

as a strong buy. Landacorp climbed 2, or 14.1%, to 16 1/8.

Merrill Lynch analyst Michael Hughes started coverage of

Lending Tree

(TREE) - Get Report

with a rating of near- and long-term buy and a 12- to 18-month price target of 33. Lending Tree shot up 2 3/16, or 15.5%, to 16 1/4.

Wit SoundView

upped its rating on

Lucent

(LU)

to buy from hold and set a price target of 90. Lucent declined 15/16 to 67 1/16.

Thomas Weisel analyst Keith Gay initiated coverage on

VarsityBooks.com

(VSTY)

with a buy rating. VarsityBooks.com stumbled 3/8 to 9 7/16.

PaineWebber

sliced its rating on

Suiza Foods

(SZA)

to attractive from buy and cut its price target to 42 from 51. Suiza Foods slipped 1 7/16 to 37 1/4.

Merrill Lynch analyst Robert Schenosky started coverage of

Weirton Steel

(WS)

with a rating of accumulate for the intermediate term and buy for the long term. Weirton Steel lost 7/16 to 9 1/4.

Miscellany

Aetna

(AET)

fell 3 7/8, or 7%, to 52 1/16 after it said it planned to separate its finance and health care businesses "as soon as an orderly separation can be achieved." The company also plans to sell off international assets that do not fit the strategy of either resulting company. Meanwhile,

Warburg Dillon Read

cut its rating on Aetna to reduce from hold.

Excite@Home

(ATHM) - Get Report

hopped 1 9/16, or 5.4%, to 30 1/8 after it said it will launch an online service aimed at high-speed users.

The Heard on the Street column in the

Journal

says biotech stocks are acting like Internet stocks, driving the biotech industry's market capitalization up 50% to $600 billion in just two months time. The story speculates that some biotech companies now have the capacity to swallow up old-line pharmaceuticals companies, though it adds no imminent deals are on the horizon.

Editorial Assistant Diane Gross contributed to this story.