Stocks to Watch Tuesday: Seagram, PlanetRX.com, Broadcom, Thomas & Betts - TheStreet

French water and utility company

Vivendi

and beverage and entertainment giant

Seagram

(VO) - Get Report

have set financial terms for their proposed $32 billion merger, according to published reports.

Vivendi's board approved the deal as well as the board of

Canal Plus

, a French pay-television company that is joining its assets with Vivendi and Seagram.

The Wall Street Journal's

interactive edition reported that Canal Plus shareholders will receive two shares of Vivendi for each share of Canal, in addition to an ownership stake in a broadcast unit which will be spun off further down the road. The Seagram board was still meeting late today, according to

The New York Times

online edition.

Thomas & Betts

(TNB)

became the latest company to warn of weak earnings ahead. The electronic component maker said it sees second-quarter earnings significantly below the current five-analyst estimate of 74 cents a share. The company said the expected earnings decrease is due to new processing system costs.

Standard & Poor's

said

Broadcom

(BRCM)

will replace

GTE

(GTE) - Get Report

in the

S&P 500

index.

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

Healthcare Internet site,

PlanetRX.com

(PLRX)

, announced this evening that it expects its second-quarter sales to be a below-estimate $9 million and expects to report a second-quarter loss of between 62 cents and 63 cents.

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Offerings and stock actions

Home furnishings retailer

Furniture.com

(FURN)

said it is withdrawing its plans for an IPO due to unfavorable market conditions. The offering was supposed to be underwritten by

Goldman Sachs

,

Salomon Smith Barney

,

William Blair

and

E*Offering

. However, the company said it will receive an additional $27 million in private equity financing from a number of investors.

Silicon Storage

(SSTI) - Get Report

set a 3-for-1 stock split.

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Miscellany

A

Food and Drug Administration

panel rejected

Inamed's

(IMDC)

adjustable stomach device for treating severely obese patients.

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