said it anticipates a rise in third-quarter earnings per share despite lower operating income from its North American operations. The company said earnings will be helped by increased operating income at
. The 15-analyst estimate calls for third-quarter earnings of 33 cents a share.
Outflow from U.S. equity funds totaled $1.9 billion for the week ended yesterday with most sectors experiencing outflows, according to
AMG Data Services
. International equity funds reported outflows from both emerging and developed regions, accounting for 53% of total equity outflows. Among other categories, inflow to taxable bond funds totaled $568 million.
Last Trades on Island ECN
COMS: 27 3/32 at 5:12 p.m. EDT.
QTRN: 35 1/8 at 3:58 p.m. EDT.
INTU: 90 at 3:56 p.m. EDT.
MarketXT, formerly Eclipse Trading, offers after-hours trading to retail clients of Morgan Stanley Dean Witter's (MWD) Discover Brokerage 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, 6 p.m. to 8 p.m. EDT Monday through Thursday. Island ECN offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 5:15 p.m. EDT.
updates the most active issues on both MarketXT and Island ECN in Got a Minute? and in the Evening Update.
also reports how MarketXT's three most active Nasdaq-listed issues finished the Island ECN session.
In other postclose news (earnings estimates from
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
said it would exit the methanol business entirely and that it expects an $8 million charge for the write-off of methanol assets.
National Discount Brokers
warned it sees first-quarter revenues about four percent below expectations. The three-analyst estimate calls for earnings of 21 cents a share. The company said it expects to report results between a two-cent profit and a one-cent loss.
said it expected lower earnings for the second half and was entering talks to change its bank credit agreements. The company also said COO and interim CFO Jeffrey Cordes resigned to pursue other interests.
reported a third-quarter loss of 35 cents a share including extraordinary items. The year-ago loss of $1.71 a share also includes extraordinary items. No per-share figures from operating income were provided. The three-analyst estimate called for earnings of 2 cents a share.
Mergers, acquisitions and joint ventures
said plans for a proposed merger had been terminated due in part to regulatory delays. Lifeline said it would take a third-quarter charge of $500,000, or 5 cents a share, while Protection One said it planned to take a third-quarter charge of $2.2 million, or 2 cents a share, on merger-related costs.
Offerings and stock actions
New York Stock Exchange
took another step closer to becoming a publicly traded company. Chairman
said the Big Board's own board backed a measure authorizing the exchange's management to continue exploring a conversion to for-profit status. Converting to a for-profit corporate structure from its current mutual status would further pave the way for a possible initial public offering. But Grasso also said the plan to launch the IPO around Thanksgiving has been scuttled, with the exchange now targeting early next year for its public debut.
Now that it's standard practice to kick off every IPO with some dimwitted commercial gimmick to draw local camera crews to the stock exchange, the real question is what theme-related stunt the NYSE will dream up for the public debut. Maybe guys in suits trading stocks?
restaurants, said it would buy back an additional $25 million of stock bringing the total amount of its buyback program to $35 million.
said it cleared a share issuance it intends to use in its bid for
named Thomas Corcoran president and CEO effective Oct. 1. Corcoran, who is currently president and COO at a unit of
, succeeds Richard Simmons, who will remain Allegheny's chairman.
Standard & Poor's
King World Productions
is scheduled to acquire King World on Tuesday.
American Eagle Outfitters
will replace Quintiles in the
S&P MidCap 400
said its board adopted a shareholder rights plan which makes it more difficult for someone to take over the company without management's consent. Each right allows shareholders to buy 1/100 of a new series of preferred stock at $170 if an unapproved shareholder acquires 15% or more of the company's common stock. Valassis said the move is not in response to any known takeover effort.