First-quarter earnings for
look turbulence-free after the company said its report would surpass the top end of its earlier expectations of 80 cents to $1.20 a share. The company said it sees first-quarter earnings coming in between $1.25 to $1.40 a share. The 11-analyst estimate expects the company to report EPS of 98 cents a share. UAL reiterated its fiscal 2000 earnings forecast of between $7 to $9 a share and attributed its anticipated 6.25% to 7% total revenue growth to robust passenger demand and higher fares.
said that it has tapped former
President Jamie Dimon as its new chairman and CEO. According to a press release, Dimon plans to buy a 2 million-share equity stake in Bank One, which has seen its stock price stumble due to its floundering credit card unit.
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
Bausch & Lomb
said that it plans to recommend three officials to sit on
Wesley Jessen VisionCare's
board. The nominations could ensure the acceptance of Bausch & Lomb's roughly $600 million offer for the company. Bausch & Lomb elected former
Chase Manhattan Bank
exec vice president William Balderston,
North America CEO Joseph Clayton and
University of Rochester
economics professor Charles Plosser to Wesley Jessen's board. Wesley Jessen already has agreed to a $420 million deal with
entered into a $561 million stock agreement to buy closely held
. Liberate said it would issue shares to fund the deal, which is set to close in the second quarter of 2000.
North Fork Bancorp
said it would contemplate raising its $1.9 billion takeover for
if Dime is willing to negotiate. North Fork said it would seek permission from
Hudson United Bancorp
to hold talks with Dime, which has already committed to a $1.3 billion deal with Hudson. North Fork said it would consider changing the stock and cash terms of its initial offer, which values Dime at $17.06 a share based on current stock prices.
said it inked an agreement to offer lab services to
U.S Healthcare members. Although the terms are undisclosed, the contract, which starts April 1, makes Quest one of Aetna's preferred lab service national providers for its U.S. Healthcare members.
said it agreed to buy closely held
in a stock deal valued at $186 million. According to the terms, 3dfx said it would pay 15.6 million shares and options for GigaPixel. The deal will be completed in the third quarter of 3dfx's fiscal year 2001.
posted second-quarter earnings of 28 cents a share, a penny better than the 10-analyst estimate. The company reported second-quarter 1999 earnings of 22 cents a share.
posted third-quarter earnings of 11 cents a share, which includes a 5-cent gain. The two-analyst estimate expected the company to post earnings of 5 cents a share. The results are up from the year-ago report of a 21-cent loss. Separately, the company said Chairman, President and CEO Kenneth Hyatt stepped down from his posts to pursue other interests. Former Chairman and CEO G. Robert Durham will temporarily replace Hyatt.
Offerings and stock actions
Deutsche Banc. Alex Brown
priced a 7.5 million share IPO for
at the top of its $13 to $15 range at $15 a share.
Chase H & Q
said it priced a 4 million-share IPO for
above its expected $14 to $16 price range at $18 a share.
resolved a $100 million patent dispute this morning before it entered a U.S. District Court in Delaware, according to court records,
reported. The terms of the resolution, which involved 10 patents that covered computer memory circuits and semiconductor manufacturing processes, were not disclosed. Mosel had initially brought a lawsuit claiming infringement against Micron, which countersued.
The judge presiding over the
antitrust case will render a decision on the matter sometime after Tuesday, according to sources quoted by
. According to one of the sources, District Judge Thomas Penfield Jackson had previously set a deadline of Tuesday to decide whether further talks were necessary between the parties involved in the case.
For a look into this evening's after-hours trading action, please check out
The Night Watch.