reported fourth-quarter earnings of 97 cents a share, on target with the 14-analyst
view and ahead of the year-ago 77 cents. The retailer also said it's comfortable with earnings projections for 1999 but that it will record almost $35 million in first-quarter charges and extraordinary losses. The company didn't say whether it will have a quarter operating loss.
TheStreet.com Internet Sector
index after the close of trading tomorrow, the
Philadelphia Stock Exchange
said. Inktomi is replacing
, whose acquisition by
is expected to be completed tomorrow.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
posted fourth-quarter earnings of 66 cents a share, 3 cents higher than the 12-analyst estimate and above the year-ago 40 cents. The company also set a 3-for-2 stock split.
reported second-quarter earnings of 28 cents a share, a penny above the 24-analyst expectation and 2 cents ahead of the year-ago figure.
reported second-quarter earnings of 25 cents a share, matching the three-analyst view but falling below the year-ago 27 cents.
announced fourth-quarter earnings of a penny a share, higher than the six-analyst call for break-even but below the year-ago profit of 3 cents.
recorded second-quarter earnings of 23 cents a share, in line with the eight-analyst estimate and above the year-ago 20 cents. The company also said it is "extremely optimistic" about the second-half of 1999 and that it approved a $100 million buyback program.
posted fourth-quarter earnings of 3 cents a share, beating the eight-analyst prediction for 2 cents but falling behind the year-ago 25 cents.
warned its first-quarter earnings will fall below both the six-analyst forecast for 11 cents a share and the year-ago dime due to lower product revenue.
posted fourth-quarter earnings of 95 cents a share, 1 cent higher than the four-analyst view and above the year-ago 63 cents.
reported second-quarter earnings of 45 cents a share, blasting away the single-analyst outlook for 26 cents and the year-ago 18 cents.
Mergers, acquisitions and joint ventures
agreed to buy
, for $2.3 billion. Lear expects the acquisition to add 5 cents a share to its 1999 earnings and 35 cents in 2000. Meanwhile, United Technologies said its 1999 profit will grow 15% from last year's $5.05 a share.
said it will urgently address the reduction of debt it will assume after its $7 billion purchase of Britain's
. The company also said it plans to cut capital expenditures by $300 million over the next five years.
Offerings and stock actions
, an operator of sports and automotive merchandise stores, cancelled plans to take itself public, citing market conditions. (What conditions? That the
hit an intraday 10,000?) The company was expected trade on the
Nasdaq Stock Exchange
under the symbol GIJO.
named John Johnson Jr. president and CEO, replacing Andrea Farace. Marshall Cogan was elected chairman. The company also said it hired
to explore strategic alternatives.
unit will close its Cleveland, Ga., manufacturing plant by July 1.
Trans World Airlines
named President and COO William F. Compton chief executive, replacing Gerald L. Gitner, who will continue as chairman.
said it hired
as an adviser to explore alternatives for paying off its $275 million term loan. The alternatives include a sale of certain assets, a private equity placement, refinancing of the principal through conventional and/or commercial mortgage-backed securities, and drawing on its existing credit facility.