Newbridge Warns of Shortfall; priceline.com Tops Views but Trades Down
Blaming lower than expected sales,
Newbridge Networks
(NN)
warned its fourth-quarter earnings will come in around 12 cents to 14 cents a share. The 15-analyst
First Call
forecast called for earnings of 21 cents vs. the year-ago 12 cents.
In other earnings news (or non-earnings news, as the case may be),
priceline.com
(PCLN)
slipped to 128 in late
Instinet
trading from a regular-session close of 134 following its first-quarter report. The e-commerce company, which went public in March, reported a quarter loss of 12 cents a share, a penny narrower than the five-analyst outlook. Revenue rose 160% from the fourth quarter.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
Alternative Living Services
(ALI)
said it sees 1999 earnings of $1 to $1.10 a share and 2000 earnings of $1.40 to $1.60 a share. The 20-analyst outlook calls for 1999 earnings of $1.44 and a 15-analyst outlook calls for 2000 earnings of $1.90.
TheStreet Recommends
Autodesk
(ADSK) - Get Autodesk Inc. Report
warned it sees first-quarter pro-forma earnings of 10 cents to 15 cents a share and diluted earnings of 2 cents to 5 cents a share due to customer transition in the company's product line. The 10-analyst view called for a profit of 40 cents vs. the year-ago 55 cents.
Egghead.com
(EGGS)
posted a fourth-quarter loss of 50 cents a share, 6 cents narrower than the five-analyst forecast and better than the year-ago loss of $1.51. The stock lifted 1/2 in after-hours trading to 14.
Heilig-Meyers
(HMY) - Get Harmony Gold Mining Company Limited Report
said its April same-store sales lifted 1.6%.
Hot Topic
(HOTT)
said its first-quarter same-store sales surged 15.3%.
VDI Media
(VDIM)
reported first-quarter earnings of 17 cents a share, including expenses of $600,000 for the consolidation of facilities and the integration of operations related to recent acquisitions. The two-analyst forecast called for operating earnings of 15 cents vs. the year-ago 12 cents.
In other earnings news:
Mergers, acquisitions and joint ventures
AT&T
agreed to acquire the remaining 50% of privately held
Lenfest Communications
it doesn't already own for about 43 million shares.
Silicon Storage Technology
(SSTI) - Get ShotSpotter Inc. Report
agreed to acquire privately-held
Linvex Technology
in a stock deal whose financial terms were undisclosed.
Offerings and stock actions
PacifiCare Health Systems
(PHSYB)
approved a plan to combine and reclassify its Class A and Class B common shares into a single class of voting stock and announced plans to buyback 5.9 million shares.
Miscellany
American Electric Power
(AEP) - Get American Electric Power Company Inc. Report
and
Central and South West
(CSW)
agreed to cut rates for some Texas customers and divest some generating capacity as part of a settlement for their planned merger.
A German court ruled that emulation products made by
Mentor Graphics
(MENT)
infringe on
Quickturn Design Systems'
(QKTN)
German patent.
