warned it sees second-quarter earnings of 7 cents to 10 cents a share, below the 21-analyst
forecast for 24 cents. The company, which earned 18 cents in the year-ago period, cited competition in the Las Vegas market, low table-games win percentages and a slow start with a new resort in Mississippi.
Inflow into U.S. equity funds for the week ended yesterday totaled $6.2 billion, with 55% going into growth funds, according to
AMG Data Services
. International funds reported inflow into all sectors but Latin America, and inflow accelerated into Asian emerging markets funds and Japan. Europe reported its first inflow in 15 weeks. Among other categories, taxable bond funds reported outflow of $260 million, municipal bond funds reported outflow of $119 million and money market funds reported outflow of $23.1 billion, its largest since Dec. 30, 1998.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
reported a second-quarter loss of 39 cents a share, in a different millennium that the six-analyst prediction for a 18-cent profit. The company, which made 27 cents in the year-ago period, said it expects third-quarter revenue coming in 12% to 18% below second-quarter revenue. The company cited more stringent revenue recognition policies and increased competition in certain markets.
Advantage Learning Systems
said it expects to take a third-quarter charge of $400,000 related to its acquisition of
Generation 21 Learning Systems
posted fourth-quarter earnings of 41 cents a share, on target with the 15-analyst forecast and above the year-ago 36 cents.
said it will take a 3-cent-a-share charge against second-quarter earnings to write off the cost of an unsuccessful well drilled offshore New Zealand.
said its June load factor rose 1% to 76%.
warned of a fourth-quarter loss of 14 cents to 18 cents a share, blaming tightened inventories. The five-analyst estimate called for earnings of 10 cents vs. the year-ago profit of 39 cents.
reported second-quarter earnings of 14 cents a share, in line with the 14-analyst estimate and a penny ahead of the year-ago figure.
said it sees second-quarter earnings of 2 cents a share, which would miss the 10-analyst prediction for 17 cents and fall below the year-ago 9 cents. The company said its quarter revenue will fall short of expectations after some customers in Europe and South America deferred marketing programs.
said its June U.S. vehicles sales rose 4.9%. Separately,
said its sales rose 4.8%.
reported third-quarter earnings of 38 cents a share, missing the two-analyst forecast of 43 cents and falling below the year-ago 42 cents.
U.S.A. Floral Products
said it sees second-quarter earnings of 10 cents to 15 cents a share, including a gain from anti-dumping duties. The six-analyst forecast called for operating earnings of 26 cents vs. the year-ago 34 cents. The company cited global pricing pressure for the expected shortfall.
Mergers, acquisitions and joint ventures
Brazil's two biggest beverage companies,
, said they will merge. Brahma shareholders will receive one share of the combined company for each share held while Antarctica shareholders will receive 46.6 of a share in the new company for each share held.
agreed to acquire
for $34.2 million. Innovex also said it sees third-quarter earnings of 17 cents to 19 cents a share, which would miss the four-analyst forecast for 23 cents. The electrical components maker, which made 16 cents a year earlier, blamed a decline in demand for disk drives.
The Senate approved, 97-2,
successor to the