Yahoo! Surges After-Hours; AMD Posts Loss but Beats Estimates

Plus, BMC Software and JDA Software issue earnings warnings, and more from after the close.
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Yahoo!

(YHOO)

gave investors a reason to shout it out. The Internet behemoth reported third-quarter earnings of 14 cents a share before charges, ahead of the 26-analyst estimate of 9 cents a share, and up from the year-ago 2 cents before items. (Year-ago results were restated to reflect the acquisition of

broadcast.com

.) The company said third-quarter revenues more than doubled to $155 million, compared with a year-ago $66.3 million and that September traffic was 385 million page views a day, up from 310 million in June. The stock was making noise in after-hours trading, leaping 7 7/8 to 183 3/4 on

Island ECN

(see below).

Tech heavyweight

Advanced Micro Devices

(AMD) - Get Report

also reported third-quarter results. AMD posted a loss of 72 cents a share, narrower than the 18-analyst estimate of a loss of 97 cents but worse than the year-ago earnings of 1 cent. The company cited strong sales of its flash memory chips, which it said grew by 28% over the preceding quarter, as well as its new

Athlon

chip, which is being sold at higher margins than its K-6 processors. AMD said it has the ability to make more than 1 million Athlon processors in its current quarter.

After-Hours Markets

Boston's

Don't Look Back

dominated the pop charts 21 years ago this week. Yahoo! took a cue from the arena rockers' album title, leading after-hours trading on Island ECN. As noted above, the company just released third-quarter earnings that handily topped analyst expectations. It was easily the heaviest-traded stock on Island, doubling

Global Crossing

(GBLX)

, its closest competition.

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

.

MarketXT, formerly Eclipse Trading, offers after-hours trading to retail clients of Morgan Stanley Dean Witter's (MWD) Discover Brokerage 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, 6 p.m. to 8 p.m. EDT Monday through Thursday.

TheStreet.com

updates the most active issues on both MarketXT and Island ECN in Got a Minute? and in the Evening Update.

--

Eric Gillin

In other postclose news (earnings estimates from

First Call/Thomson Financial

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

Earnings/revenue reports and previews

BMC Software

(BMCS)

said second-quarter profits would fall shy of analyst expectations but revenue would be in line with forecasts. The company said earnings were hurt by delays in closing large licensing transactions, particularly in Europe. BMC said it sees net profits in the range of $101 million to $106 million, or 40 cents to 42 cents a share, excluding charges. The 24-analyst estimate calls for earnings of 43 cents.

JDA Software

(JDAS)

said it expected third-quarter profits to fall below estimates, because of a drop in software licensing revenue related to Y2K fears. The company said it sees earnings at 1 cent a share or break-even, while the six-analyst estimate calls for earnings of 3 cents a share.

PepsiCo

(PEP) - Get Report

said it was comfortable with fourth-quarter estimates and reiterated its confidence that beverage demand in North America would bounce back. The 15-analyst estimate calls for earnings of 32 cents a share in the fourth quarter. PepsiCo earlier Wednesday reported third-quarter earnings of 34 cents a share, beating estimates by a penny.

SLI

(SLI)

warned it sees quarterly earnings below the current seven-analyst estimate of 35 cents.

Trimble Navigation

(TRMB) - Get Report

said it sees third-quarter earnings above analyst estimates and in record territory, due to savings from a manufacturing outsourcing deal. The company said profits would come in at 17 cents to 20 cents a share, well above the single-analyst estimate of 11 cents.

Zomax

(ZOMX)

said it expects third-quarter earnings to significantly exceed expectations as cost controls contributed to higher operating margins. The company said it sees earnings of 44 cents a share, well above the five-analyst estimate of 31 cents.

Mergers, acquisitions and joint ventures

Barnes & Noble

(BKS) - Get Report

agreed to buy retailer

Babbage's Etc

for $215 million, in an effort to extend its reach into the video game and software market. The mammoth bookseller said it expects the acquisition of Babbage's, which operates 495 stores under various names, to increase earnings by 10 cents a share in the fourth quarter, and added that the it is very important to the positioning of its online business,

barnesandnoble.com

(BNBN)

.

Premier Parks

(PKS)

announced a number of agreements with

Warner Bros.

, a unit of

Time Warner

(TWX)

. A long-term licensing agreement will allow Premier to use Warner Bros. cartoon characters at its parks in Europe and Latin America, though terms were not disclosed. Premier also agreed to buy Warner's

Movie World Germany

theme park near Dusseldorf, and will team up with Warner on a $400 million theme park in Spain.

Separately, Premier said it was very well positioned to meet its full-year estimates. The eight-analyst estimate calls for a loss of 45 cents a share for 1999.

Network Solutions

(NSOL)

said

Microsoft

(MSFT) - Get Report

signed an agreement with it, to provide country-specific domain name registration services in a number of countries.

Offerings and stock actions

Goldman Sachs

priced 4 million shares of

Calico Commerce

(CLIC)

at $14 a share, the top of the expected $12-to-$14 range. Calico sells software and services that facilitate Internet sales.

Neuberger Berman's

(NEU) - Get Report

long-expected IPO was priced at $32 a share by lead underwriter Goldman Sachs. The investment advisory firm, which is offering 7.25 million shares, had scrapped plans to go public last October because of fickle market conditions.

PlanetRx.com's

(PLRX)

6 million-share IPO was priced top-range at $16, by lead underwriter Goldman Sachs. The company is an online destination for prescription drugs, herbs and other medical supplies.

Travelers Property Casualty

(TAP) - Get Report

said it would buy spend up to $200 million to buy back its class A common shares. The company, a unit of

Citigroup

(C) - Get Report

, said a prior $150 million share repurchase, announced in August 1998, was nearly complete.

Morgan Stanley Dean Witter

priced 11.9 million ADRs of

Ultrapar

(UGP) - Get Report

at $13.50 each, the bottom of the estimated range. Yesterday, the Brazil-based company lowered the range to $13.50 to $14.50, from an earlier $16 to $18 estimate. One ADR is equal to five ordinary shares.