U.S. HEADLINE STOCKS - Issues to watch March 25
Wednesday March 25, 8:03 am Eastern Time
NEW YORK, March 25 (Reuters) - Issues to watch this morning:
-- U.S. stocks were stronger in London.
-- Microsoft Corp (MSFT - news) said it expected current-quarter
earnings to beat analysts' expectations by around 9 percent. Chief
Financial Officer Greg Maffei said after the market closed in New York
on Tuesday that earnings would be boosted by strong sales and declining
expenses. Microsoft shares closed at 84-15/16.
-- Dell Computer Corp (DELL - news) said after the market close that
it had not been affected by a personal computer price war in the United
States. It said it expects strong sales growth to continue through
1998. Dell closed at 65-3/4.
-- 3Com Corp (COMS - news) reported third-quarter operating results
that fell well below analysts' expectations and were down 96 percent
from a year earlier. Third-quarter operating profit totaled $7.4
million or $0.02 per share, before a pretax credit of $0.02 per share.
The First Call consensus estimate was $0.14. A year earlier 3Com had
net income of $0.50 per share. 3Com closed at 37-1/4.
-- H.B. Fuller Co (FULL - news) fell in after-hours trading Tuesday as
the adhesives, paints and chemicals maker reported first-quarter earnings.
Fuller traded at 58-3/4 after the bell, down 1-5/8 from an unofficial
settlement of 60-3/8 on the Nasdaq. The company posted first-quarter
earnings of $0.44 per basic share, including an accounting change that
added $0.10 to earnings per share. Analysts had expected $0.43 per
share, according to First Call.
-- Networks Associates Inc (NETA - news), the network security and
management products maker, said it will buy Magic Solutions Inc, a
help-desk software company, in a $110 million deal. Networks Associates
said it expects to take a second-quarter charge of $90 million related
to the purchase of in-process research and development. The company's
shares traded at 63-3/16 after the bell, down 1-7/16 from a settlement
of 64-5/8, traders said.
-- Netscape Communications Corp (NSCP - news) is expected to announce
a reorganization Wednesday creating a new division focusing exclusively
on its Web-site business, the Wall Street Journal reported. Netscape
closed at 19-1/8.
-- Wal-Mart Stores Inc (WMT - news). is preparing to test the appeal
of much smaller stores that could compete with convenience stores and
traditional supermarkets, the Wall Street Journal reported. Wal-Mart
closed at 50-7/16.
[EDIT] COMS coming down a tad. Now 38 1/4 Bid on 1,222,800 in
pre-market trading according to DATEK.
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