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MicroStrategy (MSTR) - Get MicroStrategy Incorporated Class A Report plummeted 125 1/4, or 55.2%, to 101 1/2 after it said it is revising its 1999 and 1998 revenue and operating results, "due to its evolving business model". MicroStrategy said it will cut its 1999 reported revenue to between $150 million and $155 million from $205.3 million and its operating results to a loss of between 51 cents and 43 cents a share, compared with a previously reported profit of 15 cents a share.

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Micron Technology

(MU) - Get Micron Technology, Inc. Report

was getting a lift following an upgrade from

Bear Stearns

which raised its rating to buy from neutral and its price target to 225. Micron was moving up 6 1/8 to 135.

Mergers, acquisitions and joint ventures

Two Southeastern banks are getting together.

National Commerce Bancorporation


is acquiring

CCB Financial

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TheStreet Recommends

(CCB) - Get Coastal Financial Corporation Report

for about $1.9 billion in stock. Under terms of the deal, CCB Financial shareholders will receive 2.45 shares of National Commerce stock, or 48 15/64 a share, a 25% premium over CCB Financial's closing price of 38 9/16 on Friday. The new company will retain the National Commerce Bancorporation name. National Commerce was lately off 2 11/16, or 13.7%, to 17 while CCB Financial climbed 1 9/16 to 40 1/8.

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America Online


added 13/16 to 65 9/16 and


dropped 10 3/8, or 6.8%, to 141 3/8 after the companies set a three-year pact to create a B2B exchange.

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story, check out the coverage from's

joint newsroom.

CNA Financial

(CNA) - Get CNA Financial Corporation Report

slipped 1/8 to 29 3/8 after saying its

Continental Casualty

unit has proposed a cash tender offer of $13 a share for all shares of

CNA Surety

common stock not already owned by Continental Casualty and its affiliates.



in recent weeks has talked about being bought out by

American Express

(AXP) - Get American Express Company Report

; however, the talks never crystallized and are dormant, the Heard on the Street column in

The Wall Street Journal

reported. Also, the column reports that talk persists that E*Trade might team up with

Goldman Sachs

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

. E*Trade lost 1/2 to 28 3/4, American Express climbed 1 11/16 to 145 5/16 and Goldman Sachs gained 4 5/16 to 120 13/16.

KPN Royal Dutch Telecom


popped 8 11/16, or 7.2%, to 129 7/8 after its

Planet Media Group

subsidiary will set up an Internet concern,

Travel Planet

, with Dutch company

Travel Unie

. Also, KPN Royal Dutch projects earnings before interest, taxation, depreciation and amortization will rise 20% in 2000.


(MSFT) - Get Microsoft Corporation Report

lost 9/16 to 98 13/16 and



rose 11/16 to 30 15/16 after the companies said they entered a three-year pact to feature Microsoft's Internet service on some of Compaq's personal computers.



slipped 1/16 to 10 1/16 after it agreed to buy

Internet Communications


for $28 million in stock and warrants. Under the deal, Internet Communications shareholders will get about 0.25 of a RMI.Net share for each share of Internet Communications common. Internet Communications lost 3/16, or 5.3%



is merging its automotive systems business with



. Siemens said the joint venture would have annual sales of nearly $7 billion.

Wesley Jessen VisionCare


is buying

Ocular Sciences

(OCLR) - Get Oclaro, Inc. Report

for $900 million, creating the world's second-largest soft contact lens producer. Wesley Jessen dropped 2 5/8, or 10.5%, to 22 3/8 while Ocular Sciences lost 1 3/16, or 7%, to 15 3/4.

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story, check out the coverage from's

joint newsroom.

Earnings/revenue reports and previews


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


Lehman Brothers


lost 15/16 to 90 1/2 despite posting first-quarter earnings of $3.69 a share, a mile ahead of the 11-analyst estimate of $2.88 and above the year-ago $1.57 a share.

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earnings, check out the coverage from's

joint newsroom.

Offerings and stock actions

American Italian Pasta


rose 2 1/16, or 10.4%, to 21 7/8 after it said its directors authorized spending up to $25 million to repurchase up to 1 million shares over the next 12 months.

Central Garden & Pet

(CENT) - Get Central Garden & Pet Company Report

climbed 1 1/4, or 13.9%, to 10 1/4 after it said it is planning to spin off its lawn and garden distribution business as a publicly traded company.

John H. Harland


added 1/4 after it said its board authorized an extension of its share buyback program to include an additional 2.9 million shares of common stock.

Analyst actions

This morning,

Salomon Smith Barney


Dell Computer's

(DELL) - Get Dell Technologies Inc Class C Report

price target to 71 from 55. Dell advanced 2 1/16 to 58 1/2.

Applied Power


: UP to strong buy from buy at

U.S. Bancorp Piper Jaffray

; price target UP to 48 from 42. Applied Power was up 1/8 to 27 3/8.


(CCL) - Get Carnival Corporation Report

: DOWN to buy from strong buy at

Deutsche Banc Alex. Brown

; DOWN to outperform from buy at Salomon Smith Barney. Carnival ascended 1 3/4, or 8%, to 23 5/8.

Complete Business Solutions


: price target UP to 35 from 25 at

Credit Suisse First Boston

. Complete Business Solutions fell 1/4 to 26 1/2.

Hartford Life

(HIG) - Get Hartford Financial Services Group, Inc. Report


Lehman Brothers

with an outperform rating and a price target of 44. Hartford Life climbed 7/16 to 36 1/4.

Key Energy

(KEG) - Get Key Energy Services, Inc. Report

: INITIATED at Lehman Brothers with an outperform rating. Key Energy lost 3/16 to 11.

Level 3 Communications



Merrill Lynch

with an accumulate rating and a 150 price target. Level 3 Communications slipped 11/16 to 111 7/16.

Manhattan Associates

(MANH) - Get Manhattan Associates, Inc. Report

: UP to buy at CS First Boston; price target SET at 40. Manhattan Associates jumped 4 1/8, or 20.1%, to 24 5/8.

Morgan Stanley Dean Witter

juggled the stocks on its "global fresh money list", adding Israeli mobile phone company

Partner Communications

(PTNR) - Get Partner Communications Co. Ltd. Report

and e-commerce company



. Partner Communications gained 3/16 to 20 5/8, while Ariba fell 5 1/4 to 260 15/16.

Making way for the new arrivals were





(HAL) - Get Halliburton Company Report


Morgan Stanley

removed from the list. AMR added 1/8 to 30 1/8.

National City


: DOWN to hold from buy at

Warburg Dillon Read

. National City declined 7/16 to 20.

Nextel Partners


: STARTED as a buy at

Donaldson Lufkin & Jenrette

. Nextel Partners rose 1/8 to 33 7/8.



: UP to strong buy from buy at

CIBC World Markets

. Tribune was up 13/16 to 38 5/16.






(XRX) - Get Xerox Holdings Corporation Report

said they've resolved all pending patent-infringement lawsuits against one another. The companies agreed to settle "to avoid the costs, time and distractions of lengthy legal battles." Under terms of the settlement, the companies said they won't disclose additional details. Hewlett-Packard boosted 5 11/16 to 144 1/2, while Xerox increased 11/16 to 26 1/2.

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story, check out the coverage from's

joint newsroom.

KLM Royal Dutch Airlines


is cutting 2,700 jobs and slicing its capacity 5% in its winter schedule. KLM Royal Dutch Airlines was down 13/16 to 19 1/8.

St. Jude Medical


said the

Food and Drug Administration

cleared for marketing its narrow Tendril SDX lead used for implanting heart pacemakers. St. Jude Medical escalated 1/2 to 26 15/16.