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Tuesday, January 26, 1999

"Experience is not what happens to you; it is what you do with what happens to you." -- Aldous Huxley

Latest Market Numbers

Compaq to Spin Off AltaVista

The world's largest PC maker Compaq Computer (NYSE: CPQ) is expected to announce plans to spin off all or part of its AltaVista search engine at a press conference scheduled for today at 10 a.m. Eastern. The Wall Street Journal reported that the company is expected to name a new management team for AltaVista that includes making the head of its consumer PC products group, Senior Vice President Rod Schrock, CEO of the new company. CNBC this morning reported that Compaq will spin off all of AltaVista to its shareholders.

Indeed, in its press release publicizing the news conference, Compaq said it will unveil "the company's Internet strategy for AltaVista." It said company President and CEO Eckhard Pfeiffer will be joined by Schrock to make the announcement. Spinning off AltaVista -- the 12th busiest site on the Internet, according to market research firm Media Metrix -- in an initial public offering would allow Compaq to take advantage of the recent high valuations investors have awarded anything with a dot-com in its name. It would also give AltaVista an independent identity from its parent company.

According to analysts cited by the Journal, Compaq turned down several offers last year to buy AltaVista, believing it could remake the site into a portal a la Yahoo! (Nasdaq: YHOO) and Excite (Nasdaq: XCIT). Compaq's recent agreement to acquire Shopping.com (Nasdaq: IBUY) is consistent with such a strategy. In fact, AltaVista already carries news from ABCNEWS.com and video footage from C-SPAN and has links to selected online stores such as Amazon.com (Nasdaq: AMZN), Eddie Bauer and 1-800-FLOWERS.com.

Earnings to Go

Adaptec Inc. (Nasdaq: ADPT) -- fiscal Q3 EPS: $0.26 (before charges) vs. $0.28 last year; estimate: $0.21
Archstone Communities Trust (NYSE: ASN) -- Q4 EPS: $0.46 vs. $0.42 last year; estimate: $0.47
Artesyn Technologies (Nasdaq: ATSN) -- Q4 EPS: $0.24 vs. $0.10 last year; estimate: $0.23.
Avis Rent A Car (NYSE: AVI) -- Q4 EPS: $0.11 vs. $0.02 last year; estimate: $0.08
Ben & Jerry's Homemade (Nasdaq: BJICA) -- Q4 EPS: $0.11 vs. $0.09 last year; estimate: $0.07
Black & Decker (NYSE: BDK) -- Q4 EPS: $1.10 (excluding one-time items) vs. $1.00 last year; estimate: $1.10
Cabot Oil & Gas (NYSE: COG) -- Q4 EPS: loss of $0.01 (before charges) vs. profit of $0.38 last year; estimate: loss of $0.04
CNF Transportation (NYSE: CNF) -- Q4 EPS: $0.61 vs. $0.51 last year; estimate: $0.59
Coca-Cola (NYSE: KO) -- Q4 EPS: $0.24 vs. $0.33 last year; estimate: $0.24
Consolidated Freightways (Nasdaq: CFWY) -- Q4 EPS: $0.53 (before charges) vs. $0.31 last year; estimate: $0.48
Cytec Industries (NYSE: CYT) -- Q4 EPS: $0.65 (before gain) vs. $0.62 last year; estimate: $0.57
EMC Corp. (NYSE: EMC) -- Q4 EPS: $0.48 vs. $0.32 last year; estimate: $0.46
Halliburton Co. (NYSE: HAL) -- Q4 EPS: $0.20 (before charges) vs. $0.58 last year; estimate: $0.20
Hartford Life (NYSE: HLI) -- Q4 EPS: $0.77 vs. $0.62 last year; estimate: $0.73
HNC Software (Nasdaq: HNCS) -- Q4 EPS: $0.27 (before charges) vs. $0.18 last year; estimate: $0.26
Jenny Craig (NYSE: JC) -- fiscal Q2 EPS: loss of $0.02 vs. profit of $0.01 last year; estimate: profit of $0.03
Oakwood Homes
(NYSE: OH) -- fiscal Q1 EPS: $0.24 vs. $0.38 last year; estimate: $0.21
PathoGenesis Corp. (Nasdaq: PGNS) -- Q4 EPS: $0.17 vs. loss of $0.73 last year; estimate: $0.15
PBOC Holdings (Nasdaq: PBOC) -- Q4 EPS: $0.50 vs. $0.61 last year; estimate: $0.22
Ralston Purina (NYSE: RAL) -- fiscal Q1 EPS: $0.41 (before one-time items) vs. $0.42 last year; estimate: $0.44.
Rayonier Inc. (NYSE: RYN) -- Q4 EPS: $0.57 (before $0.07 charge) vs. $0.70 last year; estimate: $0.49
Regis Corp. (Nasdaq: RGIS) -- fiscal Q2 EPS: $0.41 (before charges) vs. $0.33 last year; estimate: $0.40
Remedy Corp. (Nasdaq: RMDY) -- Q4 EPS: $0.26 (before charges) vs. $0.27 last year; estimate: $0.24
S3 Inc. (Nasdaq: SIII) -- Q4 EPS: loss of $0.56 vs. profit of $0.03 last year; estimate: loss of $0.32
SanDisk Corp. (Nasdaq: SNDK) -- Q4 EPS: $0.13 vs. $0.27 last year; estimate: $0.10
Sovereign Bancorp (Nasdaq: SVRN) -- Q4 EPS: $0.27 vs. $0.23 last year; estimate: $0.28
STMicroelectronics (NYSE: STM) -- Q4 EPS: $0.84 vs. $0.90 last year; estimate: $0.81
Sybron International (NYSE: SYB) -- fiscal Q1 EPS: $0.24 vs. $0.18 last year; estimate: $0.24
Tellabs (Nasdaq: TLAB) -- Q4 EPS: $0.62 vs. $0.42 last year; estimate: $0.59
Union Pacific Resources Group (NYSE: UPR) -- Q4 EPS: loss of $3.48 (from continuing operations) vs. profit of $0.31 last year; estimate: loss of $0.33
Uniphase Corp. (Nasdaq: UNPH) -- fiscal Q2 EPS: $0.27 (before charges) vs. $0.20 last year; estimate: $0.26
USWeb (Nasdaq: USWB) -- Q4 EPS: profit of $0.07 (before charges) vs. loss of $0.07 last year; estimate: profit of $0.06
VeriSign Inc. (Nasdaq: VRSN) -- Q4 EPS: loss of $0.11 vs. loss of $0.72 last year; estimate: loss of $0.14
Whitman Corp. (NYSE: WH) -- Q4 EPS: profit of $0.12 vs. loss of $0.11 last year; estimate: profit of $0.12
Xerox (NYSE: XRX) -- Q4 EPS: $1.69 vs. $1.46 last year; estimate: $1.67

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Yi-Hsin Chang (TMF Puck), Writer
Jennifer Silber (TMF Amused), Editor