The U.S. military awarded a couple of big new contracts:
received a $1.6 billion contract to design and develop a system to defend the U.S. against a ballistic missile attack. The value of the contract could swell to $5.2 billion if the system works and moves toward deployment between 2002 and 2003, the government said. Boeing beat out a team comprised of
Moving from the air to the sea,
Newport News Shipbuilding & Drydock
received a $1.2 billion
contract for the overhaul and nuclear refueling of the aircraft carrier
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The IPO of
(HF:NYSE) was priced at $27 per share, topping the expected range of $23 to $25. The
loan unit's offering is the biggest of 1998 so far, raising $1.04 billion, according to underwriter
In other post-close news (earnings estimates from
Earnings reports and previews
reported first-quarter earnings of 3 cents per share, topping the 13-analyst forecast for a loss of 3 cents and the year-ago loss of 95 cents. The stock reportedly climbed to 10 1/4 from a close of 9 57/64 in after-hours trading. The company attributed the good news to accounting initiatives, a growing senior management team and new product announcements.
reported a first-quarter loss of 12 cents per share, falling below the nine-analyst prediction for a break-even quarter. The company lost 43 cents per share in the year-ago period. Mentor blamed the bad news on subsidiary closures and increased expenses related to patent litigation during the quarter.
reported fourth-quarter earnings of 55 cents per share, 12 cents short of the three-analyst expectation but up from the year-ago 53 cents. The company's release offered no commentary about the shortfall.
reported first-quarter earnings of 27 cents per share, blowing away the three-analyst prediction of 15 cents and the year-ago 14 cents. The company attributed the positive earnings to a strong North American freight railroad market.
reported a first-quarter loss of 15 cents per share, beating the eight-analyst estimate by a penny and above the year-ago loss of 22 cents. The company also set a 2-for-1 stock split.
reported first-quarter earnings of 70 cents per share, topping the six-analyst prediction by a penny and the year-ago figure by 15 cents. The company also set a 2-for-1 stock split.
Additional post-close earnings news appears in a table posted separately
Mergers, acquisitions and joint ventures
announced a joint venture in digital photography and imaging, in which the companies will jointly develop and market products. The agreement includes a broad patent cross-licensing deal between the companies, and Kodak's photofinishing laboratories will be upgraded with Intel technology. The companies' collaborative consumer marketing campaign could reach $150 million over three years.
said it will seek talks to acquire the 29% of
it doesn't own, offering $20.50 per share. Mycogen shares closed at that price today.
acquired the remainder of Internet publishing company
cofounder and freelance jillionaire
. Terms weren't disclosed. Disney first bought a stake in Starwave in April 1997.
has a business relationship with Starwave.
shareholders approved the company's acquisition by
Offerings and stock actions
set a 2-for-1 stock split and raised its dividend to 10 cents per presplit share from 7.5 cents.
United Road Services'
(URSI:Nasdaq) IPO was priced at $13 per share, the upper end of the expected range of $11 to $13.
Donaldson Lufkin & Jenrette
is the underwriter.
set a buyback of 4 million shares.
filed with the
Securities and Exchange Commission
for the sale of 1.2 million shares by shareholders.
Comings and goings
named COO James Steckart to the additional title of president, replacing Bill White. White will remain CEO.
promoted CFO James Matthews to president and CEO, replacing George Webster. Webster resigned yesterday.
said CFO Kenneth Traub resigned and will be replaced by Nicholas Narlis.
named its president and former CFO, Peter Burg, to the newly created position of COO.
set a shareholder rights plan with a 20% trigger. The company said the move is not in response to any specific effort to acquire it.