Monday: Hopeful Words from Boeing and Silicon Graphics

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Compiled by John J. Edwards III
Staff Reporter

Tuesday's release of the first-quarter

Employment Cost Index

is sure to make for some market agitation however it turns out. Before gearing up, take a look at these post-close tidbits:

McDermott International

(MDR) - Get Report

, which did not trade Monday after it previewed sharp fourth-quarter losses for itself and its

J. Ray McDermott

(JRM)

unit, said it plans to restructure its corporate operations and cut headquarters costs in an effort to return to profitability by next year.

After the company's shares dove in reaction to its disappointing earnings,

Boeing

(BA) - Get Report

CEO Phil Condit said he thinks the current airplane order rate is sustainable for the next several years. His comments came after Boeing's annual meeting, at which shareholders approved doubling the company's authorized capital stock.

Republic Industries

(RWIN)

, the cobbled-together company run by Ol' Blue Eyes himself, Wayne Huizenga, reported first-quarter earnings of 8 cents per share. That beat the

First Call

consensus estimate by a penny. The company earned 4 cents a year earlier.

Symantec

(SYMC) - Get Report

blasted past expectations with fourth-quarter operating earnings of 30 cents per share. The First Call view was just 25 cents. The company earned 15 cents a year ago. Also, Symantec and

SystemSoft

(SYSF)

said they will jointly develop and market troubleshooting software for PCs and share the revenue.

Struggling

Silicon Graphics

(SGI)

said it expects its revenue to rise 20% and its operating income to rise more than 10% in 1998.

Network General

(NETG)

reported fourth-quarter operating earnings of 29 cents per share, in line with the First Call estimate and up from the year-ago 22 cents.