Players International (PLAY) - Get Report and Harrah's Entertainment (HET) said neither company will exercise its right to terminate their merger deal until March 21. This is the third time the two companies have postponed the date that either party can pull out of the deal without being penalized. In August, Harrah's announced it would buy Players for $275 million, plus $150 million in debt.
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
said its first-quarter earnings will fall below expectations. The current five-analyst estimate calls for earnings of 10 cents a share.
Offerings and stock actions
set a $100 million share buyback
said it plans to begin a dutch auction tender offer for up to 12 million shares, or about 9.1% of its outstanding shares, in a range of $11.50 to $13.50.
said it will cut about 100 jobs, or 8% of its workforce. The company said the cuts will impact both managerial and support staff and are designed to allow additional resources to be allocated to data and Internet initiatives.
St. Jude Medical
said it is notifying doctors that a microprocessor anomaly could lead a malfunction in a very small number of its Trilogy pacemakers.