Yahoo! Rises on Earnings; Big Mo Falls on Court Ruling

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shares galloped up 6 to 173 in after-hours trading following its strong second-quarter earnings report. The company made 11 cents a share, topping the 21-analyst

First Call

estimate by 3 cents and moving ahead of the year-ago 1 cent.

reported on the news in an earlier

piece .

Philip Morris'

(MO) - Get Report

stock slipped to 37 7/8 in late composite trading from a New York close of 40 15/16 on news of a Florida court ruling that could cost the tobacco industry billions of dollars in damages. In the first class-action suit brought by smokers ever to go to trial, a jury found that cigarette makers are liable for producing a defective product that causes emphysema, lung cancer and other illnesses.

General Electric's

(GE) - Get Report


network and

GE Equity

unit raised their stake in



to 39.9% by exercising warrants to buy $175 million in stock.

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

Earnings/revenue reports and previews

Airborne Freight


said it sees second-quarter earnings of 45 cents to 55 cents a share, lower than both the 12-analyst prediction of 62 cents and the year-ago 66 cents. The company cited a lack of growth in domestic shipments.

American Eagle Outfitters


said its June same-store sales hopped up 26.3%.



posted 50 cents a share, 2 cents ahead of the five-analyst estimate and a repeat of the year-ago figure.

Bergen Brunswig

(BBC) - Get Report

said it expects to report third-quarter earnings of 25 cents to 27 cents a share, below the 14-analyst forecast of 31 cents. The company, which made 27 cents in the year-ago period, attributed the expected shortfall to negative industry trends hurting its PharMerica long-term care unit.


recorded a second-quarter loss of 5 cents a share, 4 cents narrower than the five-analyst estimate and narrower than tthe year-ago loss of 11 cents.

Centura Banks


reported second-quarter earnings of $1 a share, 2 cents above the 11-analyst forecast and higher than the year-ago 87 cents.


(CHA) - Get Report

said it will report second-quarter earnings above both the year-ago 33 cents a share and the 13-analyst forecast of 17 cents. The company attributed stronger markets for its wood products and domestic uncoated freesheet papers business.

Computer Horizons


said it expects to report second-quarter earnings of 23 cents to 25 cents a share, which would be below both the six-analyst forecast of 31 cents and the year-ago 34 cents. The company blamed a greater-than-expected market slowdown.

Epicor Software


said it expects to post break-even results or a slight loss in the second quarter, citing continuing merger-related sales performance issues and a general slowdown in demand for resource planning software. The two-analyst view called for earnings of 12 cents a share vs. the year-ago 19 cents.



said it expects to post a second-quarter loss of 20 cents to 25 cents a share and that its quarter revenue will be flat to 2% below year-ago figures. The 13-analyst prediction called for a loss of 2 cents vs. the year-ago loss of 3 cents. The company, which said its June same-store sales fell 33%, also said it will take a $13.5 million charge in the second quarter after revamping its brand and updating its stores.

Kellstrom Industries


said it expects to record a second-quarter charge of 8 cents a share to cover costs of settling a lawsuit brought by the estate of its former co-chairman.


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said it expects to post first-quarter earnings of 16 cents to 18 cents a share due to flat revenue. The three-analyst view called for 24 cents vs. the year-ago 21 cents.

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said its second-quarter same-store sales rose 2.4%.

Pepsi Bottling


reported second-quarter earnings of 32 cents a share, ahead of the 10-analyst view of 25 cents and the year-ago 15 cents.

Mergers, acquisitions and joint ventures


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agreed to acquire privately held

Softcom Microsystems

for an undisclosed amount.



said it won't buy a minority stake in

or sell its products through the Internet pharmacy as previously announced.

Offerings and stock actions

Merrill Lynch



(INIT:Nasdaq) 7 million-share IPO mid-range at $10. The company is a Web site management company.




named Scott Leslie CEO, replacing Lee Thurburn.

Lehman Brothers


said it hired nine employees from

Merrill Lynch


for its financial services investment banking team.

A federal judge denied

Mylan Laboratories'

(MYL) - Get Report

motion to dismiss charges the company violated antitrust laws by raising prices up to 3,200% but the judge dismissed some state charges.

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