To: maceng2 who wrote (88212 ) 1/19/2000 11:49:00 PM From: tejek Respond to of 1573003
AMD headlining with the big guys!! ____________________________________________________________ AOL, IBM and AMD Score a Hat Trick With Earnings, Besting Estimates By Tara Murphy Staff Reporter 1/19/00 9:06 PM ET Ah, earnings season. When a young company's fancies often turn to creative accounting. Tonight, though, participants were waiting in the wings for some of the stock market's frothiest names to post their earnings. And post they did. And for most of them, things are looking pretty good. We'll see how good, when the market opens tomorrow, but some of the names got off to a running start tonight in after-hours action. For a wrap-up of some of tonight's action, take a look at a copy of TSC's The Night Watch. -------------------------------------------------------------------------------- IBM (IBM:NYSE - news) posted fourth-quarter earnings of $1.12 a share, ahead of the First Call/Thomson Financial 24-analyst estimate of $1.06, but down from the year-ago $1.24. IBM said fourth-quarter net income was $2.1 billion, down from the year-ago $2.3 billion. Big Blue's chairman and CEO, Louis V. Gerstner, Jr., said in a statement: As we had anticipated, the Y2K issue hit us hard in the fourth quarter. Many of our large customers -- who handle much of the world's critical data -- had locked down their computer systems as they prepared for the Y2K transition. While we are pleased that this transition is proceeding smoothly for our customers, these lockdowns had a significant negative impact on our revenues and earnings in the quarter. -------------------------------------------------------------------------------- America Online (AOL:NYSE - news) posted second-quarter earnings of 9 cents a share, a penny better than the 32-analyst estimate and up from the year-ago 4-cent profit, which has been adjusted two reflect two stock splits. The Internet giant said the online shopping and advertising boom pushed revenue up 41%, to $1.6 billion, while subscribers to its flagship service reached 20.5 million, a 1.8 million increase from the first quarter. On Jan.10, AOL said it had entered a $144 billion deal to buy Time Warner (TWX:NYSE - news). Major Indices INDEX CHANGE % VALUE YR TO DATE Dow 71.36 -0.6% 11,489.36 -0.1% S&P 500 0.76 +0.1% 1455.90 -0.9% Nasdaq 20.50 +0.5% 4064.34 +2% Russell 2000 6.56 +1.3% 520.02 +3% TSC Internet 13.97 +1.3% 1131.19 -2% TSC New Tech 30 17.59 +2.9% 621.09 +0.5% BOND CHANGE PRICE YIELD 30-Year Treasury 10/32 92 12/32 6.721% In other post-close news (earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified): Mergers, acquisitions and joint ventures Suez Lyonnaise de Eaux Group's energy divisionELYO said it has agreed to purchase all the outstanding shares of Trigen Energy (TGN:NYSE - news) that it does not already own, in a cash deal valued at $23.50 a share. Currently, ELYO's subsidiary holds roughly a 53% interest in Trigen common shares. Trigen also said that it has tapped its director and COO Richard Kessel to become president and CEO of the company. Trigen will maintain its name and company headquarters in White Plains, N.Y. JDS Uniphase (JDSU:Nasdaq - news) said Lucent (LU:NYSE - news) has extended their agreement, which calls JDS Uniphase to provide advanced optical amplifier modules for Lucent's WaveStar OLS 400G optical networking systems through December 2001. Earnings/revenue reports Advanced Micro Devices (AMD:NYSE - news) reported fourth-quarter earnings which includes restructuring and other charges of 43 cents share. The report was up from the year-ago 15 cents a share. The 20-analyst estimate, which does not include charges, was for a penny.