reported third-quarter earnings of 44 cents a share, 6 cents higher than the 14-analyst
estimate and ahead of the year-ago 25 cents. But the retailer said it's cautious about near-term growth and it posted revenue down 2% from the year-ago period. Nonetheless, the stock inched up to 55 from a close of 54 1/2 in late composite trading.
is reconsidering a merger with
, according to a report in
that will be published in the magazine's April 5 issue. The magazine will report it "has seen documents that indicate that the brokerage firm
Merrill Lynch is now reconsidering an offer from Chase Manhattan to merge with that $366 billion bank."
(IVIL:Nasdaq), publisher of the women's Web site of the same name, hopes to raise $87.6 million during its 3.65 million-share IPO tomorrow.
priced the offering top range at $24 a share tonight. The expected range was raised to $22 to $24 from an initial $12 to $14 earlier this week.
Inflow into U.S. equity funds for the week ended yesterday totaled $2.54 billion, with most going into large-cap growth funds, according to
AMG Data Services
. Large-cap equity index inflow increased to $333 million, and international funds reported their largest inflow in eight weeks. Among other funds, $1.27 billion flowed into taxable bond funds, $229 million flowed into municipal bond funds and $1.3 billion flowed into money market funds.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
recorded first-quarter earnings of 60 cents a share, 8 cents above the nine-analyst forecast and ahead of the year-ago 38 cents.
Cambridge Technology Partners
warned it expects to post first-quarter earnings of 12 cents to 14 cents a share due to slower sales. The 23-analyst forecast called for 24 cents vs. the year-ago 20 cents.
announced third-quarter earnings of 24 cents a share, topping the nine-analyst prediction by 3 cents but falling below the year-ago 73 cents.
Crediting strong sales and prices,
said its first-quarter profit could exceed $1 a share, almost double the 12-analyst outlook for 43 cents. The company earned 17 cents in the year-ago period.
posted a fourth-quarter loss of 31 cents a share, including a 6-cent charge for costs associated with the selling and closing of 109 stores. The 13-analyst view called for a loss of 8 cents vs. the year-ago loss of 18 cents.
reported fourth-quarter earnings of 15 cents a share, matching the three-analyst view but falling below the year-ago 20 cents.
said it expects to record first-quarter underwriting losses of about $22 million stemming from reinsurance provided by its
Risk Capital Reinsurance
unit. The company also said Bonnie Baccitto, chief underwriting officer at the unit, left the company.
posted third-quarter earnings of 1 cent a share, in line with the six-analyst estimate and above the year-ago loss of 14 cents.
Blaming lower sales,
said it sees first-quarter earnings of 15 cents to 17 cents a share, below the five-analyst prediction for a repeat of the year-ago 25 cents.
Mergers, acquisitions and joint ventures
Federal Trade Commission
cleared its $2.2 billion acquisition of natural gas pipeline and other assets from
unsolicited offer for the company is "inadequate" and that its board recommended shareholders reject the $17-a-share offer.
Offerings and stock actions
(CTIX:Nasdaq) 3.5 million-share IPO top range at $15 a share. The company is a retail seller of discount tickets for domestic air travel.
set a 2-for-1 stock split.
cancelled plans to spin off its
American Finance Group
through an IPO, saying it will instead sell the unit.
said its CEO and president, Robert McGeehan, will retire July 1. The company expects to name a successor by April 26.
named CEO Michael Brown to the additional post of chairman, replacing John Leonis.
named Ed McCarrick, formerly publisher of
, as publisher of
C$30million for fixing the price of graphite electrodes.