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Tenneco Packaging to Replace Tenneco in S&P 500

A quiet after-hours session was highlighted with a light spate of earnings and a change announced in the S&P 500.

Standard & Poor's

said

Tenneco Packaging

will replace

Tenneco

(TEN) - Get Tenneco Inc. Class A Report

in the

S&P 500

after the market close on Thursday. S&P said the change is a result of Tenneco splitting into two separate businesses -- Tenneco Packaging and

Tenneco Automotive

.

After-Hours Trading

Island ECN, owned by Datek Online Holdings, 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.

MarketXT, formerly Eclipse Trading, offers after-hours trading to retail clients of Morgan Stanley Dean Witter's (MWD) Morgan Stanley Dean Witter Online and Mellon Bank's (MEL) Dreyfus Brokerage Services. Clients can trade 200 of the most actively traded New York Stock Exchange and Nasdaq Stock Market issues, 4:30 p.m. to 8 p.m. EDT Monday through Thursday. Prior to Oct. 11, MarketXT traded issues from 6 to 8 p.m. Need more information on the ins and outs of after-hours trading? Click here to see how the rules change when the sun goes down.

--

Patrick M. Fitzgibbons

In other post-close news (earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified):

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Earnings/revenue reports and previews

AGL Resources

(ATG)

reported fourth-quarter earnings of 9 cents a share, beating the 11-analyst estimate of five cents, but down from the year-ago 19 cents.

Cigna

(CI) - Get Cigna Corporation Report

posted third-quarter earnings of $1.47 a share, beating the 15-analyst estimate of $1.30 and up from the year-ago $1.12.

TheStreet.com/nytimes.com

joint newsroom wrote about Cigna's latest

earnings in a separate story.

CSS Industries

(CSS) - Get CSS Industries, Inc. Report

reported third-quarter earnings of 70 cents, well below the single-analyst estimate of $1.10 a share, and the year-ago $1.90 a share, before charges.

General Growth Properties

(GGP)

reported third-quarter funds from operations of 97 cents a share, a penny better than the 10-analyst estimate and up from a year-ago 82 cents a share.

Kimco

(KIM) - Get Kimco Realty Corporation Report

reported third-quarter funds from operations of 92 cents a share, in line with the 13-analyst estimate and up from the year-ago 77 cents.

GoTo.com

(GOTO)

posted a third-quarter loss of 18 cents a share, smaller than the three-analyst estimate of a loss of 32 cents a share, and the year-ago pro forma loss of 24 cents.

Guitar Center

(GTRC)

posted third-quarter pro forma earnings of 11 cents a share, in line with the nine-analyst estimate and up from the year-ago 6 cents a share.

Harbinger

(HRBC)

said it is forecasting high revenue growth in the year 2000 for four lines of its business. The company said it expects its revenue from its e-commerce outsourcing line to grow 79%, to $17 million from an estimated $9.5 million in 1999.

Intermedia

(ICIX)

reported a third-quarter loss of $2.97, slightly narrower than the 13-analyst expected loss of $3.00 but wider than a year-ago loss of $2.44.

Jenny Craig

(JC)

posted a first-quarter loss of 18 cents a share, including charges. The lone-analyst estimate was for a loss of 6 cents, while the year-ago earnings were 12 cents. Jenny Craig announced it would close 86 company-owned centers in the U.S. and cut its headquarter staff by about 15%.

MEMC Electronic Materials

(WFR)

reported a third-quarter loss of 48 cents a share, a penny narrower than the two-analyst estimate, and down from a year-ago loss of $1.60 a share.

MMI

(MMI) - Get Marcus & Millichap, Inc. Report

said it would take a $105 million charge in the third quarter mostly related to increases in reserve premiums. The company said it expected its third-quarter operating loss to range from $3.55 to $3.65 a share.

NorthWestern

(NOR)

reported third-quarter earnings of 31 cents a share, a penny better than the single-analyst estimate and up from a year-ago 20 cents a share.

Panamerican Beverages

(PB) - Get Prosperity Bancshares, Inc.(R) Report

reported a third-quarter loss of 8 cents a share, a penny narrower than the seven-analyst estimate, but down from year-ago earnings of 13 cents a share.

Polo Ralph Lauren

(RL) - Get Ralph Lauren Corporation Class A Report

said it sees second-quarter earnings of 56 cents a share, in line with the 13-analyst estimate.

Post Properties

(PPS)

said third-quarter funds from operations were 94 cents a share, a penny better than the 15-analyst estimate and above the year-ago 85 cents a share.

PP&L Resources

(PPL) - Get PPL Corporation Report

said it sees fourth-quarter per share gain of 27 cents from the sale of its unit's coal-fired Sunbury plan and assets of a related coal processing plant.

RenaissanceRe

(RNR) - Get RenaissanceRe Holdings Ltd. Report

reported third-quarter earnings of $1.46 a share, beating the five-analyst estimate of $1.33, and the year-ago $1.17.

Ruddick

(RDK)

reported fourth-quarter earnings of 28 cents a share including charges. The three-analyst estimate called for earnings of 26 cents a share, while year-ago earnings were 28 cents a share.

Spieker Properties

(SPK)

reported third-quarter funds from operations of 87 cents a share, beating the 11-analyst estimate of 85 cents and the year-ago 75 cents.

Unumprovident

(UNM) - Get Unum Group Report

posted third-quarter earnings of 70 cents a share, missing the 12-analyst estimate by a penny and down from the year-ago 72 cents a share. The company also said it appointed J. Harold Chandler as chairman, president and CEO effective immediately. Chandler replaces James F. Orr III, who retired.

U.S. Liquids

(USL) - Get United States 12 Month Oil Fund LP Report

posted a third-quarter loss of 28 cents a share including $10.3 million in charges. The two-analyst estimate had been for a loss of 4 cents a share, while the year-ago earnings were 26 cents a share.

Mergers, acquisitions and joint ventures

Alaska Governor Tony Knowles urged the

Federal Trade Commission

to block

BP Amoco's

(BPA)

proposed $26.8 billion takeover of

Atlantic Richfield

(ARC) - Get ARC Document Solutions, Inc. Report

and said he suspended Alaska's talks over the deal with BP Amoco.

Offerings and stock actions

Financial Security Assurance

(FSA)

said it would sell up to $140 million of stock.

Miscellany

Chiron

(CHIR) - Get Global X MSCI China Real Estate ETF Report

said it settled litigation regarding alleged infringement of its Japanese patent related to the hepatitis-C virus.

The U.S.

Food and Drug Administration

rejected

Gilead Sciences'

(GILD) - Get Gilead Sciences, Inc. Report

AIDS drug Adefovir. The agency's panel of outside experts said there wasn't enough data to prove that the drug safely and effectively fought the virus. The agency expressed concern that higher doses of the drug seemed to be associated with kidney damage.

IBM

(IBM) - Get International Business Machines Corporation Report

CFO Douglas Maine, has stepped aside to head a newly created unit designed to move more of the company's business to the Internet. The unit, called TeleWeb, will have several thousand employees and is intended to combine the company's traditional telephone sales operations with its Web-based sales operation.