reported second-quarter earnings of 26 cents a share, on target with the 20-analyst
outlook and above the year-ago 20 cents. However, the stock continued its regular-session slide down to 48 9/16, and dropped to 46 in late composite trading.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
reported fourth-quarter earnings of 27 cents a share, a penny above the three-analyst view and ahead of the year-ago 24 cents.
said it expects to post third-quarter earnings of 20 cents to 30 cents a share because of delays in customer orders. The two-analyst forecast called for a profit of 38 cents vs. the year-ago 48 cents.
boosted its 1998 results to a profit of 2 cents a share from a loss of 7 cents after a favorable tax adjustment. The company reduced a provision for income taxes.
sees fourth-quarter earnings of 40 cents to 50 cents a share, including a gain from the sale of its
unit to a unit of
. The six-analyst estimate calls for operating earnings of 25 cents vs. the year-ago 19 cents.
warned it will miss first-quarter earnings estimates due to lower-than-expected European gaming sales and a legal charge. The three-analyst estimate called for 33 cents a share compared with the year-ago 28 cents.
recorded third-quarter earnings of 5 cents a share, matching the three-analyst outlook but falling behind the year-ago 17 cents. The company also said it will buyback up to 1 million shares.
Mergers, acquisitions and joint ventures
agreed to pay each other a retroactive rate of 37 U.S. cents a minute in 1998, 25 cents in 1999 and 19 cents in 2000 for routing cross-border calls. Telmex and
agreed to the same terms.
said a takeover bid from
recognized only a portion of the company's value and that the offer falls short of its long-term expectations for the stock. Alberta Energy has offered to acquire Pacalta in a deal initially valued at C$748 million, including the assumption of C$274 million in debt.
named Chairman Chris Horgen chief executive, replacing Michael Mruz, who is retiring.