PictureTel (PCTL) was popping in after-hours trading after it said it was selected by IBM (IBM) - Get Report to provide a pan-Europe, Middle East and Africa videoconferencing service.

PictureTel said it will help IBM in its attempts to cut business travel, by making videoconferencing cost effective and user-friendly. The stock climbed as high as 15 in after-market trading after closing at 10 3/8. (For more on PictureTel and other postclose actives, see

The Night Watch.)

Standard & Poor's


Sabre Holdings

(TSG) - Get Report

will replace

Service Corp.

(SRV) - Get Report

in the

S&P 500

index, effective March 15.

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

Hanover Compressor


reported fourth-quarter earnings of 42 cents a share, a penny better than the three-analyst estimate and up from 30 cents a year ago.


(NAVI) - Get Report

posted a second-quarter loss of 41 cents a share, much narrower than the three-analyst expected loss of 63 cents. The company also said its board approved a 2-for-1 stock split.

Newpark Resources

(NR) - Get Report

reported a fourth-quarter loss of 6 cents a share, a penny wider than the five-analyst expected loss. The year-ago loss of 12 cents includes items.



reported a fourth-quarter loss of $1.43 a share. The three-analyst expected loss was for 41 cents, while the year-ago loss was $2.98. The company said fourth-quarter earnings were negatively affected by unusual and largely noncash charges totaling $93 million related to write-downs of noncore assets, Y2K remediation and reserve adjustments to non-operating liabilities.

Sunrise Assisted Living


reported fourth-quarter earnings of 21 cents a share, well above the 16-analyst estimate of 14 cents, but down from the year-ago 36 cents. The company said it authorized a $30 million share buyback program and also said its board authorized the sale of 20 properties per year.

Value America


reported a fourth-quarter loss of 91 cents a share, narrower than the four-analyst expected loss of $1.02 and the year-ago loss of $1.26 which includes items.

Mergers, acquisitions and joint ventures



said it will give



$100 million over 18 months to develop Internet products and services in three areas: drug development, physician detailing and direct-to-consumer information delivery. Quintiles also warned it sees a one-time charge of $55 million in the first quarter, and significantly lower earnings per share in the first half of 2000 as well as lower-than-expected revenues.



announced plans to acquire U.K.-based

Queensgate Instrument

for up to $210 million in cash and stock as it seeks to diversify product lines.

Offerings and stock actions

Robertson Stephens

priced 4 million shares of



at $18 each, above the estimated $15-to-$17 range. Orapharma develops pharmaceutical products to treat oral diseases and disorders.

Redback Networks


set a 2-for-1 stock split.

Westwood One


approved a 2-for-1 stock split.