lowered 2 3/8 to 41 1/2 in after-hours trading following a 5.4% drop in fourth-quarter same-store sales and an in-line earnings report. The retailer posted fourth-quarter earnings of 47 cents a share, matching the 20-analyst
estimate and topping the year-ago 38 cents.
after the closing bell Friday. Oryx is being acquired by
S&P SmallCap 600
component, will replace SouthTrust in the
S&P MidCap 400
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
Barnes & Noble
said it expects to report retail sales of $1.03 billion in the fourth quarter, up 7.2% from $960 million last year.
said it decreased its write-offs by $39.2 million in 1998 and revised fourth-quarter results to 48 cents a share from 52 cents.
reported third-quarter earnings of 20 cents a share, a penny short of the four-analyst forecast and a repeat of the year-ago figure. The company also announced a $20 million repurchase plan.
posted a fourth-quarter net loss of 40 cents a share, including several charges and write-downs. The two-analyst outlook called for operating earnings of 1 cent vs. the year-ago profit of 16 cents. The company also said it is not in compliance with existing covenants under its revolving credit line.
said it will take a $90 million to $110 million first-quarter charge because of a previously announced plan to streamline operations. The plan includes laying off about 1,000 employees, or 15% of its workforce. Platinum shares rose 3/16 to 14 1/4 in after-hours trading.
said it will take a first-quarter restructuring charge of $20 million to $24 million after cutting 100 jobs, or about 20% of its workforce at its Carrollton, Texas-based unit.
said it will take a $89 million fourth-quarter charge from low commodity prices.
posted a fourth-quarter net loss of $1.56 a share, including restructuring charges and an investment write-down. The single-analyst view called for operating earnings of 10 cents vs. the year-ago loss of 32 cents. The company said it expects to post positive earnings in the first quarter.
In other earnings news:
Mergers, acquisitions and joint ventures
said it's no longer considering acquisition offers from other airlines. The stock surged last week on market chatter that
made a takeover offer for the company.
agreed to buy
North American data network design and consulting unit for $200 million in cash.
Integrated Technology USA
agreed to merge with closely held
by issuing 47.5% of its outstanding stock.
New York Times
said it will take a minority stake in
, the publisher of this Web site, for $15 million in cash and services. As part of the agreement, which may include future strategic alliances, Times Vice Chairman Michael Golden will serve on TheStreet.com's board.
said its notification of its intent to bid for
meets Italian regulations and that it intends to proceed with plans to acquire the company. Earlier today, Italian stock market regulator Consob said Olivetti's Saturday notice wasn't valid as a legal takeover launch because the intent-to-bid hinges upon the need for too many regulatory approvals.
Zenith National Insurance
agreed to sell its
Nationwide Mutual Insurance
for $272 million in cash.
Offerings and stock actions
Just before the close, German media giant
it sold 880,000 shares of
for more than $141 million last week, reducing its stake in AOL to 15.9 million shares.
announced a repurchase plan of up to 4 million shares, or 5.3%, of its stock.
Corporate Executive Board's
(EXBD:Nasdaq) 8.1 million-share IPO priced top-end at $19 a share by
Salomon Smith Barney
. The company provides research and analysis on corporate strategy and operations.
approved a buyback program for up to 500,000 shares.
Crown American Realty Trust
announced plans to cut its corporate workforce by 8% and reduce senior management salaries by 5% to 10%.
New American Healthcare
Chairman and Chief Executive Robert H. Martin resigned. President Thomas W. Singleton will replace Martin as chief executive; Paul B. Queally, a director, will become chairman.
said its chairman, president and chief executive, Robert Grissinger, will retire this spring. No replacement was named.
filed a counterclaim of fraud against
, alleging Telxon caused the company to spend more than $3 million to explore an acquisition of Telxon.