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Telmex Takes $100 Million Stake in Williams Communications

A day after


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agreed to a $200 million investment in

Williams Cos.'

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Williams Communications


Telefonos de Mexico

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said it will buy up to $100 million in shares of the unit. Williams Communications has filed for a $750 million IPO.

Goldman Sachs


Inet Technologies'

(INTI:Nasdaq) 5.75 million-share IPO top-range at $16 a share. The company is a telecommunications equipment maker based in Plano, Texas. Elsewhere in new issues,

Hambrecht & Quist



(SLGX:Nasdaq) 3.33 million-share IPO bottom-range at $9 a share. The company is a Scottsdale, Ariz.-based software provider.

In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews


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reported third-quarter earnings of 39 cents a share, including charges for the closure of underperforming stores and the discontinuing of development of certain sites. The 14-analyst estimate called for 40 cents vs. the year-ago 35 cents.


reported a first-quarter loss of 46 cents, narrower than the three-analyst forecast for a loss of 50 cents but wider than the year-ago loss of 25 cents.

Grow Biz


said it expects to record break-even second-quarter results due to continuing losses from its retail game store chain. The single-analyst view called for a quarter loss of a penny a share vs. the year-ago profit of 17 cents.

J.D. Edwards


posted a second-quarter loss of 10 cents a share, 2 cents narrower than the 14-analyst estimate and below the year-ago profit of 11 cents. Shares of the software developer added 1/16 to 19 1/16 in after-hours trading.



announced a first-quarter loss of 26 cents a share, wider than the single-analyst prediction for a repeat of the year-ago loss of 23 cents.

Veritas DGC


posted third-quarter earnings of 2 cents a share, in line with the 10-analyst outlook but behind the year-ago 69 cents.

Mergers, acquisitions and joint ventures

Tesoro Petroleum


said it's investigating options for its exploration and production businesses, including a spinoff or sale.

Offerings and stock actions

DII Group


filed with regulators for a 6 million-share offering.


Granite Construction

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said CEO David Watts was named to the additional post of chairman.

San Francisco's

Metropolitan Transportation Commission

awarded a 10-year contract to operate and maintain a single regional transit ticket to a consortium led by




Shortly before the closing bell,


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said it's warning European health-care professionals that rare cases of serious, severe and unpredictable liver injury have been reported among patients treated with


. The company said it will provide additional safety information on European labeling for the antibiotic. Pfizer is in discussions with the

Food and Drug Administration

about similar revisions in the U.S.

20th Century Industries

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named Robert Sandler chairman, replacing Maurice Greenberg.