Sun Seeks Stock Split; Intel Drops After Hours on <I>Barron's</I> Story

Plus, CMGI's AltaVista inks a deal with HealthCentral.com.
Author:
Publish date:

According to a

Securities and Exchange Commission

filing,

Sun Microsystems

(SUNW) - Get Report

has asked its shareholders to approve a 2-for-1 stock split, which would double its authorized stock to 3.6 billion. The stock split, which will be voted on by shareholders Nov. 10, would be payable Dec. 9.

After-Hours Markets

CNBC

, in its weekly

Barron's

preview, revealed that

Intel

(INTC) - Get Report

would be the subject of a negative cover story to be released this weekend. The news, which broke around 7 p.m. EDT, sent Intel's stock down in after-hours trading on

Island ECN

.

Nonetheless, Friday night trading is thin and tonight is no exception. Aside from Intel, not much else was moving on Island ECN.

Digital Insight

(DGIN)

continued trading on the popularity of its IPO, while tech stocks dominated the rest of the chart.

Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EDT. Prior to Sept. 15 Island offered trading from 8 a.m. to 5:15 p.m. EDT

.

--

Eric Gillin

In other postclose news (earnings estimates from

First Call/Thomson Financial

; earnings reported on a diluted basis unless otherwise specified):

Mergers, acquisitions and joint ventures

CMGI's

(CMGI)

Web search engine

AltaVista

said it inked a three-year $65 million agreement with

HealthCentral.com

that calls for the site to supply content for AltaVista's health channel, which is set to debut in late fall. HealthCentral.com will pay a small amount of the $65 million in equity, while the remaining payment will depend on quantity of traffic that is directed to the site from the channel.

Earnings/revenue reports and previews

Ceridian

(CEN) - Get Report

warned investors that its fourth-quarter earnings would be 25 cents to 27 cents a share, missing the 10-analyst estimate of 31 cents. The company blamed the disappointing results on Y2K complications. Ceridian said, however, that it expects third-quarter and fiscal 2000 earnings to meet the 11-analyst estimate of 24 cents a share and the 11-analyst estimate of $1.31, respectively.

Olsten

(OLS)

revised its results for its second quarter, third quarter and fiscal 1998 along with its 1999 first and second quarter. The company posted a revised loss of 44 cents a share for fiscal 1998, greatly differing from its initial report of a 5-cent profit. For its first quarter 1999, Olsten restated its loss to 28 cents a share, better than first report of a 77-cent loss. The company said the revisions, which were necessary to account for $56 million special charge from a two health-care investigation settlements and roughly $2 million in other charges, should not alter the details of its planned merger with

Adecco

(ADECY)

.

Offerings and stock actions

REIT

Manufactured Home

(MHC)

said it will add 1 million shares to its existing share repurchasing program.

Miscellany

Aetna

(AET)

said a Philadelphia federal judge rejected a class-action lawsuit brought on by the

Foundation for Taxpayer and Consumer Rights

and three plaintiffs claiming that the company breached federal racketeering statutes and state law.

Broadcom

(BRCM)

founder Henry Nicholas said he did not intend to buy a sports team, squashing rumors that the billionaire was pinning

Disney's

(DIS) - Get Report

Anaheim Angels

and

Mighty Ducks

as possible acquisitions. Nicholas did say, however, that his company was attempting to help Disney forge a deal with another undisclosed buyer that partial to lending Broadcom media and interactive rights to the teams.

The

Teamsters

union said that it has granted the request of

Union Pacific

(UNP) - Get Report

division

Overnite Transportation

to allow workers to elect union representation. A Teamsters spokesperson said the union decided to allow the vote after Overnite's Sept. 29 press release urging it to let the "democratic process decide" if its workers wanted

Teamsters representation.

Merck

(MRK) - Get Report

said it will request

Food and Drug Administration

approval for its male osteoporosis treatment

Fosamax

. A spokesperson for Merck was not sure when the company would submit its request but said that it will use positive results from the drug's Phase V trial to support its application.

Mesaba

(MAIR)

said it has tapped former

Atlas Air

(CGO) - Get Report

vice president Paul Foley as its new president and CEO. Foley will replace Bryan Bedford, who departed from the company to become president and CEO of

US Airways

(U) - Get Report

affiliate

Chautauqua Airlines

.