Those busy folks at
Standard & Poor's
are shaking up their much-watched indices again.
After the close June 30,
Capital One Financial
S&P MidCap 400
component, will replace
Green Tree Financial
. Green Tree is being acquired by
, an S&P 500 component.
, a member of the
S&P SmallCap 600
, will replace Capital One in the mid-cap index;
will replace KN Energy in the small-cap index.
in the S&P 500. Beneficial is being acquired by
, an S&P 500 component.
, an S&P MidCap 400 component, will replace
-- which is selling off its steel manufacturing unit to
-- in the S&P 500.
-- which is changing its name to
Nielsen Media Research
(NMR:NYSE) -- in the S&P 500.
, an S&P SmallCap 600 component, will replace
in the S&P MidCap 400. 360 is being acquired by
, a member of the S&P 500. Separately, Tech Data said it is comfortable with the 13-analyst
1998 earnings forecast of $2.28 per share. In 1997, the company made $1.92.
In other post-close news (earnings estimates from First Call):
Earnings reports and previews
said the 13-analyst estimate of 44 cents per share for the company's second quarter is "too optimistic." The company, which made 34 cents last year, said increased imports from Europe have kept prices down. Consolidated also said it will take a one-time charge of 5 cents per share to account for refinancing debt assumed with a 1995 acquisition.
reported second-quarter earnings of 47 cents per share, topping the eight-analyst estimate by 6 cents and beating the year-ago 30 cents. The company said it is comfortable with estimates for the rest of the year and that it sees 1998 and 1999 earnings coming in higher than consensus expectations. The estimates call for third-quarter earnings of 51 cents, fourth-quarter earnings of 83 cents, 1998 earnings of $2.07 and 1999 earnings of $2.64.
posted a third-quarter loss of 9 cents per share -- below the seven-analyst forecast for a loss of 7 cents but above the year-ago loss of 12 cents. Citing the Asian crisis and industry softness, the company also said it expects to take a fourth-quarter charge to realign its business and that its fourth-quarter sales will fall below this quarter's. The consensus estimate called for a fourth-quarter loss of 5 cents.
reported fourth-quarter earnings of 27 cents per share. That's above both the 14-analyst estimate of 24 cents and the year-ago 19 cents.
announced third-quarter earnings of 42 cents per share, missing the six-analyst estimate by a penny but beating the year-ago figure by a penny.
said because of low volume it expects to report second-quarter earnings below estimates but that third- and fourth-quarter results should come in on target with expectations. The 10-analyst forecast called for earnings of 63 cents per share for all three quarters. In the year-earlier periods, the company made 55 cents in the second quarter, 54 cents in the third quarter and 55 cents in the fourth quarter.
said it expects to report fourth-quarter earnings in the range of 5 cents to 10 cents per share -- below the single-analyst estimate of 19 cents and the year-ago 20 cents. The company blamed lower revenue and weak profitability in its infrastructure unit.
posted second-quarter earnings of 81 cents per share, falling below the seven-analyst prediction of 83 cents. Last year, the company made 79 cents.
said it matched the seven-analyst forecast of third-quarter earnings of 31 cents per share, up from last year's 26 cents.
said that it expects to report fourth-quarter earnings about 55% lower than estimates because of higher-than-expected costs for developing its new motorcycle. The seven-analyst prediction called for earnings of 36 cents compared with the year-ago 42 cents.
said that, due to its pending acquisition of
Black & Decker's
household products group, the company plans to take an $11 million, or 54-cent-per-share, second-quarter charge. The five-analyst estimate called for earnings of 16 cents per share compared with the year-ago 10 cents.
said an accounting change at its
CMS Nomeco Oil & Gas
unit will result in a one-time non-cash reduction of $175 million to its shareholder equity. The change is expected to increase annual earnings, estimated by the 15-analyst consensus to come in at $2.80.
Blaming poor timing on several significant deals,
said it expects to report third-quarter earnings between 8 cents per share and 12 cents. The 11-analyst forecast called for 21 cents versus the year-ago 17 cents.
said it expects to record a $6.5 million restructuring charge in its second quarter. The six-analyst estimate called for earnings of 4 cents compared to the year-ago 10 cents.
said it expects to report second-quarter earnings in the range of 10 cents to 14 cents per share -- below the four-analyst estimate of 30 cents. The company, which made 29 cents in the year-earlier period, blamed problems in Asia and industry softness.
said because of slow booking from the commercial space market, it expects to report third-quarter results 20% below last year. The single-analyst forecast called for earnings of 32 cents per share versus the year-ago 28 cents.
said that because of the Asia crisis and pricing competition it expects to report a deeper loss than previously expected. The two-analyst estimate called for a loss of 13 cents per share versus the year-ago profit of 13 cents.
Casella Waste System
reported fourth-quarter earnings of 10 cents per share, a penny above the three-analyst estimate.
announced fourth-quarter earnings of 24 cents per share, a penny below the four-analyst prediction and 7 cents below the year-ago figure.
said it expects to report first-quarter earnings flat with the year-ago 37 cents per share. The single-analyst forecast called for 40 cents.
said it plans to cut its staff by 35% and will record a $402,000 second-quarter charge for severance payments and outplacement services. The two-analyst estimate calls for a second-quarter operating loss of 43 cents per share versus the year-ago loss of 52 cents.
Mergers, acquisitions and joint ventures
agreed to buy 275 stores from
in a deal valued at $115 million, including the assumption of debt.
said it plans to sell its
operations and has retained
Salomon Smith Barney
to explore the sale.
said it agreed to sell its
plumbing products business to
. Terms of the deal were undisclosed.
said it has held merger talks in the past but that the company is not involved in any such discussions now. The company's stock jumped 13/32, or 118%, to 3/4 in today's session.
Offerings and stock actions
set a 2-for-1 stock split and upped its quarterly dividend to 35 cents per share (pre-split) from 31 cents.
Comings and goings
said Chairman and CEO Robert Kamerschen will step aside as CEO in January 1999 and will be replaced by President and COO Gary Mulloy.
named Gerald Klein president and CEO.