was moving this morning on news from
The Wall Street Journal
that the company is in serious talks to sell its optical-parts unit to
in what could be a deal worth more than $100 billion.
The stock was getting a bid of 83, up 1 3/4, on
Also, reports that
agreed to a $50.7 billion cash-and-stock takeover by
were lifting VoiceStream 5 1/4 to 155 in preopen trading. Check out
TheStreet.com/New York Times.com
Other movers this morning were
, up 3/8 to 51 1/2 and
, which was added to the
last week, was down 5/16 to 134 1/2.
S&P 500 futures on
lately were unchanged at 1489.5, about 3 points below fair value of 1492.5 as calculated by Prudential Securities for
futures were up 1.5 to 3940.5, or about 6 points below fair value as calculated by
Europe's major indices were mixed at midsession, with France's
up 0.5%, Germany's
up 0.1%, but the U.K.'s
down 0.2% (see today's
European Midday Update for more). Japan's
fell 1.6% overnight, while Hong Kong's
dropped 1.5% (see today's
Asian Markets Update for more).
Elsewhere in preopen trading,
trading at where it closed Friday at 57 3/4 on 2,000 shares.
Friday's After-Hours Trading
Online health site
rallied 54.5% after privately held
offered to buy it. The demure online doctor released a cool response to the overeager offer. It said that while it was considering the offer, Millennium's announcement of a transaction was "highly premature."
drkoop received a nonbinding letter of intent from MillenniumHealth, an Internet health-care information company, after news of the offer had already been made public Friday morning, reported
joint newsroom covered the news in a
story this afternoon.
Investors flew the koop, pressuring the company 6 cents, or 3.9%, to 1.53.
The only thing worse than being too popular is being too successful. Poor little fiber-optic component company
just can't seem to grow fast enough, according to analysts, who expect the company to post blowout results next week. It settled up 5% today and traded 1.31 higher to 136.12 in anticipation of fourth-quarter data.
has opened a world of postal possibilities to cyber junkies. The California company lets users download postage from their PCs. The only catch is that customers need to purchase software and hardware components to use the service. The popularity of this service may eventually lead to a crisis of unemployed postal workers, who apparently are more dangerous than the employed variety.
The company last night reported a net loss of $23.6 million, or 64 cents a share, compared with the 73-cent loss in the first quarter. Though the company beat consensus estimates that called for a loss of 66 cents,
Deutsche Banc Alex. Brown
downgraded the company today to market perform from buy. E-Stamp noted at the bottom of its press release that it will slash its staff by 25% to scrape together the cash to operate through 2001. The company sold off 14% today and then slid 407 cents, or 20%, to 1.59 tonight.
E-Stamp saw its most rapid growth in its shipping business unit, which doubled its revenue from the first quarter. The company announced a business strategy shift to focus on shipping, logistics and the Internet postage business, which it said is more lucrative than the consumer market. And just happens to be cheaper to address.
rallied 57 cents, or 7%, to 87 in early trading after
initiated coverage with a buy rating. The fine young company brings us closer to the online mortgage experience by allowing businesses and customers to shop for Internet mortgage quotes and obtain loans from the company's bank.
Stonegate's upgrade was spurred by FiNet's recent decision to gear their business from the brutally competitive customer market to the more lucrative B2B side.
Like a high-school girl weighing her prom date offers, U.S. wireless company
took the weekend to mull over
$50.4 billion offer to buy it. Some reports suggest that the decision could come as early as Sunday. Sizzling anticipation of a successful marriage pushed VoiceStream up 2.26, or 1.5%, to 152.01 on 56,500 Instinet shares.
If love could be expressed in the form of cash money, investors showered this online lottery company with
of affection. The you-gotta-be-in-it-to-win-it philosophy translated into the trading of the Connecticut-based company, which sells lottery tickets for the government over the Internet. Tonight's announcement that eLot sold its health-care communications division to
for $5 million in cash, with an additional $1 million to be paid in 90 days subject to closing adjustments, sent the company 6 cents, or 2.5%, higher to 2.50 on 12,500 Island shares.
This information is provided by Instinet, a wholly owned subsidiary of Reuters (RTRSY) . For further information, please contact Instinet at www.instinet.com.
Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EDT.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.