Cisco (CSCO) - Get Report shares were gaining 4 7/8 to 130 3/4 after it posted pro forma earnings after yesterday's close of 25 cents a share, a penny ahead of the 34-analyst estimate and up from the year-ago 17 cents. The company also set a 2-for-1 stock split. Cisco cited strength in its end-to-end Internet solutions for each of its key markets.
For more details on Cisco's
earnings, see a separate story from the
was slipping 1 1/8 to 21 7/8 after it said that it is the latest company to experience problems with its online services due to hacking.. After yesterday's close,
said that a hack attack had shut down its site after prompting "denial of service" problems.
had a similar type of attack during its trading debut yesterday, while
dealt with problems linked to hacker activity on Monday. Shares of eBay were skidding 5 5/8 to 164 3/8 and Yahoo was plummeting 9 11/16 to 363 13/16, while Buy.com was lifting 3, or 11.9%, to 28 1/16.
Mergers, acquisitions and joint ventures
said it would let
International Specialty Products
review its operations as part of due diligence but said that Dexter has not been put on the auctioning block. Dexter turned down ISP's $45 a share offer calling it financially inadequate. Shares of Dexter was climbing 7/8 to 38 1/2, while International Specialty's shares were declining 1/4 to 7 1/4.
television network, along with its Web unit
, said they plan to take interests in health Web site
The three companies said they would pay an undisclosed amount of cash and offer advertising through NBC media outlets in exchange for minority stakes in Selfcare.com. Shares of General Electric were shedding 13/16 to 136 1/4 and NBCI was losing 2 to 70 3/4, while ValueVision was falling 1 1/2 to 38 1/16.
was popping 3 7/16, or 5%, to 71 3/8 after it said it has entered a licensing deal with
that involves a meningitis vaccine. Shares of Smithkline Beecham were adding on 1/2 to 56 1/2.
entered a pact to help companies develop e-business. According to KPMG, the consulting would be called
Microsoft Dot.com practice
and would involve Microsoft's Windows 2000, which is set for release next week.
competition chief Mario Monti said it has started a probe into the possibility that Windows 2000 infringes on the EU's antitrust law. Shares of Microsoft were shedding 2 3/16 to 107 11/16.
said it, along with its partners
, would roll out a new way to access e-commerce Web sites with Internet-compatible WAP mobile phones in 2000.
Separately, IBM is set to launch its new Deep Blue computer that contains copper-chip technology. Shares of Nokia were skidding 3 9/16 to 202 7/16 and Hewlett-Packard was stumbling 3/16 to 124, while IBM was sliding 1 1/4 to 117 9/16.
denied newspaper reports that it would sell a 10% interest in new Internet division PT Multimedia to Brazil-based
, calling it "unfounded." ADRs of Portugal Telecom were declining 3/8 to 13 15/16.
Earnings/revenue reports and previews
Earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified.
shares were skidding 3/8 to 20 3/16 after it posted fourth-quarter earnings of 30 cents a share, in line with the 19-analyst estimate and up from the year-ago 24 cents.
was shooting up 13, or 20%, to 75 5/16 after it reported a fourth-quarter loss of 2 cents, narrower than both the four-analyst estimate of a 15-cent loss and the year-ago 30-cent loss.
Offerings and stock actions
was mounting 11 5/8, or 7.6%, to 163 13/16 after it said it set a 3-for-1 stock split.
priced a 5 million-share IPO for
at $18 a share. Shares of Delano were soaring 42, or 236.1%, to 60 1/2.
Credit Suisse First Boston
launched coverage on
with a buy rating.
also initiated coverage on the stock with an outperform rating and a 43 12-month price target. Shares of ACTV were retreating 2 3/16, or 5.8%, to 35.
Salomon Smith Barney
to neutral. Shares of Allstate were shedding 1 5/8, or 7.3%, to 20 3/8.
Banc of America
raised its price target on
Applied Micro Circuits
to 400. Shares of Applied Micro Circuits were lifting 7 1/8 to 225 1/4.
First Boston upgraded its rating on
to strong buy from buy. Shares of Aspect Development were jumping 15 1/2, or 16%, to 112.
sliced its fiscal 2000 estimates on
to $1.15 a share from $1.20 Shares of Boston Scientific was adding 11/16 to 19 15/16.
First Boston also upped its six- to 12-month price target for
to 160 a share. First Boston also said the company could become the first trillion-dollar market cap company.
boosted its price target on the stock to 220 from 135. Shares of Cisco Systems were hopping 4 3/4 to 130 5/8.
to strong buy from buy. Shares of Citadel Communications were slipping 1 3/8 to 50 1/8.
launched coverage of
with an outperform rating. Shares of E.piphany were declining 4 to 158 1/2.
First Boston initiated coverage on
with buy ratings and
with a hold rating.
Shares of Felcor Lodging were moving up 1/16 to 18 and Meristar Hospitality was retreating 3/16 to 15 3/4, while Host Marriott was climbing 1/16 to 9 1/2.
target price to 145 from 130. Shares of H-P were stumbling 1/16 to 124 1/8.
Morgan Stanley downgraded its rating of
to outperform from strong buy. Shares of Nike were falling 3 7/8, or 10.4%, to 33 1/8.
Donaldson Lufkin & Jenrette
to buy from market performer. Shares of Pepsico were gaining 11/16 to 34.
to buy from neutral and raised its price target to 55. Shares of Qwest were bouncing 9/16 to 45 9/16.
First Boston initiated coverage on
with a buy rating. Shares of Spectrasite were declining 1/8 to 20 1/8.
tech analyst, Andrew Neff, upped his earnings estimate for
to $1.20 from $1.10 per share for the first quarter of fiscal 2001. Shares of Sun Microsystems were hopping 4 9/16, or 5.2%, to 91 1/2.
Transport Corp. of America
to hold from outperform. Shares of Transport Corp. of America were sliding 6, or 40.7%, to 9 1/8.
Deutsche Banc Alex. Brown
initiated coverage on
with a buy rating and a 70 price target. Shares of Vitesse were lifting 4 1/4, or 8.5%, to 54.
Warburg Dillon Read
rolled out coverage of
with a buy rating and a price target of 53. Shares of Willamette Industries were bouncing 3/16 to 38 1/16.
said it sliced its rating on
to market performer from market outperformer. Shares of Young Broadcasting were falling 7 1/4, or 16.8%, to 35 7/8.
will see patents for five of its biggest drugs expire within the next two years, but the company said business will remain in check,
The Wall Street Journal
reported. Shares of Merck were declining 3 11/16 to 71 3/4.