announced a surprise $1.7 billion cash tender offer for
, the parent of
Norwegian Cruise Line
. But NCL quickly responded that the so-far-unofficial offer was "inadequate."
it moved to make the tender offer, which expires Dec. 22, after NCL rebuffed an approach from Carnival earlier Wednesday.
Carnival said the deal would not be expected to dilute its 2000 earnings and that the deal could add to earnings in 2001. Check out additional
has the after-hours crown on
, trading in excess of a million shares. Volume is pretty heavy, furthering a recent trend that has sent issues into the sort of hyperactivity that causes insomnia in kindergarten teachers.
cracked the seven-digit shares-traded barrier.
dominated trading, taking the crown with a nice pop in the last hour of trading.
Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EST.
MarketXT, formerly Eclipse Trading, offers after-hours trading to retail clients of Morgan Stanley Dean Witter's (MWD) Morgan Stanley Dean Witter Online and Mellon Bank's (MEL) Dreyfus Brokerage Services. Clients can trade 200 of the most actively traded New York Stock Exchange and Nasdaq Stock Market issues, 4:30 p.m. to 8 p.m. EST Monday through Thursday.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.
In other postclose news (
earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified
Earnings/revenue reports and previews
posted fourth-quarter earnings of 46 cents a share, beating the 23-analyst estimate of 43 cents and the year-ago 37 cents a share.
American Eagle Outfitters
said same-store sales for November were up 12.2%.
said it took a $130 million charge in December from the disposition of assets and that it sees a small operating loss in the fourth quarter. Baker said it would dispose of its holdings in
and expects a $29 million gain in the fourth quarter.
Burlington Coat Factory
said second-quarter net sales climbed 4%, while comparable-store sales fell 3.9% due to warmer-than-normal temperatures.
Casella Waste Systems
reported second-quarter earnings of 29 cents a share, in line with the three-analyst estimate and up from the year-ago, restated 13 cents.
reported third-quarter earnings of 49 cents a share, beating the nine-analyst estimate of 47 cents and the year-ago 37 cents a share.
reported fourth-quarter earnings of 3 cents a share, beating the 11-analyst expected loss of 1 cent a share, but below the year-ago 34 cents.
said it sees a wider-than-expected loss in the third quarter due to a decrease in sales in its apparel division. The company said it expects a loss of 8 cents to 10 cents a share. The current eight-analyst estimate is for a loss of 1 cent.
said bookings were down but that it expects to meet its fourth-quarter earnings estimates. The current eight-analyst estimate calls for earnings of 38 cents a share. Galileo also said its outlook for 2000 remains unchanged.
Mergers, acquisitions and joint ventures
agreed to swap certain cable systems with a unit of
as part of a plan to build regional cable "clusters" that are cheaper to operate. Charter, the brainchild of
co-founder Paul Allen, said the agreement with AT&T
Broadband & Internet Services
would create more efficient cable operations and speed the delivery of broadband services.
Charter plans to take over AT&T's cable systems serving about 704,000 customers in the St. Louis area as well as other communities in Missouri, Illinois, Alabama and Georgia. Meanwhile AT&T's broadband unit will take over some Charter systems serving about 632,000 customers and receive an undisclosed amount of cash. The proposed swap is expected to take several months to complete.
revised the preliminary stock-to-cash ratio calculations for its acquisition of
, which closed yesterday. Hilton said holders of Promus common stock chose to receive $38.50 in cash for each Promus share held, and 11% of Promus shareholders elected to receive 3.2158 shares of Hilton stock for each Promus share.
said it bought an additional 12% of the capital stock of Dutch power generation company
for about $490 million, boosting its ownership to 52%. The company said it will purchase the remaining 48% of the shares on March 1, and that the total acquisition price is about $2.3 billion.
Offerings and stock actions
set a 2-for-1 stock split of its ordinary shares in the form of a bonus issue payable to shareholders as of Dec. 8.
set a 2-for-1 stock split, effective Dec. 27 to shareholders of record Dec. 13. The company also reported a 31.9% increase in same-store sales for the four weeks ended Nov. 27.
Level 3 Communications
said it filed to offer, from time to time, about $2.375 billion of debt, securities, common and preferred stock and depositary shares.
Morgan Stanley Dean Witter
priced 6.25 million shares of
at $12 a share, the top of the estimated $10 to $12 range. McAfee provides antivirus, Y2K compliance and security services for computers.
said it would buy back up to 5 million shares of its common stock.
said Robert Lundgren, who has been at the helm for just a year, will resign as president and CEO tomorrow, and will be replaced by Paul Houston. The company did not disclose the reason for Lundgren's departure.
said it hired
Banc of America Securities
to help with its growth and investment plans and said it has $300 million in cash available for investments.