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Friday, January 29, 1999

"If you don't have some bad loans you are not in business." -- Paul Volcker

Latest Market Numbers

Fiber-Optic Merger

Fiber-optic components and modules manufacturer Uniphase Corp. (Nasdaq: UNPH) late yesterday announced plans to merge with a Canada-based competitor, JDS Fitel, in an all-stock deal valued at around $3.2 billion that will create the biggest maker of parts for telecommunications fiber-optic equipment.

JDS Fitel shareowners will receive 0.50855 of a newly issued JDS Uniphase share for each JDS Fitel share, while Uniphase shares will be exchanged on a one-for-one basis. Shareholders of the two companies will each own roughly half of the combined company. The heads of both companies will serve as co-chairmen with Uniphase CEO Kevin Kalkhoven taking on the role of CEO and JDS CEO Jozef Straus as president and COO.

Kalkhoven said the merger unites two companies with complementary products and technologies, which will enable the new company to "unleash greater innovation and reduce time-to-market." The merger should also cut costs and boost earnings, though the new company, which will have sales in excess of $420 million, will take merger charges over the next five years to amortize goodwill.

Earnings to Go

AFLAC Inc. (NYSE: AFL) -- Q4 EPS: $0.42 vs. $0.35 last year; estimate: $0.40
Amgen (Nasdaq: AMGN) -- Q4 EPS: $0.90 vs. $0.67 last year; estimate: $0.84
Anadigics (Nasdaq: ANAD) -- Q4 EPS: loss of $0.01 (before charges) vs. profit of $0.30 last year; estimate: loss of $0.02
AMP Inc. (NYSE: AMP) -- Q4 EPS: $0.49 (before charges) vs. $0.58 last year; estimate: $0.48
Broadcast.com (Nasdaq: BCST) -- Q4 EPS: loss of $0.21 (before charges) vs. loss of $0.18 last year; estimate: loss of $0.25
Diamond Multimedia Systems (Nasdaq: DIMD) -- Q4 EPS: $0.15 (before charges) vs. $0.20 last year; estimate: $0.16
Digital River (Nasdaq: DRIV) -- Q4 EPS: loss of $0.26 vs. loss of $0.16 last year; estimate: loss of $0.27
First Data Corp. (NYSE: FDC) -- Q4 EPS: $0.48 vs. $0.45 last year; estimate: $0.48
FVC.COM (Nasdaq: FVCX) -- Q4 EPS: profit of $0.07 vs. loss of $0.03 last year; estimate: profit of $0.04
Gillette (NYSE: G) -- Q4 EPS: $0.39 vs. $0.36 last year; estimate: $0.39
Infoseek (Nasdaq: SEEK) -- fiscal Q1 EPS: loss of $0.39 (before charges) vs. loss of $0.17 last year; estimate: loss of $0.44
J.B. Hunt Transport Services (Nasdaq: JBHT) -- Q4 EPS: $0.30 vs. $0.19 last year; estimate: $0.29
JDA Software Group (Nasdaq: JDAS) -- Q4 EPS: loss of $0.16 vs. profit of $0.22 last year; estimate: loss of $0.10
Lam Research (Nasdaq: LRCX) -- Q4 EPS: loss of $0.64 (before charges) vs. profit of $0.09 last year; estimate: loss of $0.94
LSI Logic (NYSE: LSI) -- Q4 EPS: $0.05 (before gain) vs. $0.22 last year; estimate: loss of $0.03
LTV Corp. (NYSE: LTV) -- Q4 EPS: loss of $0.15 (before charges) vs. profit of $0.37 last year; estimate: loss of $0.18
Mercury Interactive (Nasdaq: MERQ) -- Q4 EPS: $0.47 vs. $0.28 last year; estimate $0.41
Mesa Air Group (Nasdaq: MESA) -- fiscal Q1 EPS: profit of $0.08 vs. loss of $0.25 last year; estimate: profit of $0.05
Mobius Management Systems (Nasdaq: MOBI) -- fiscal Q2 EPS: $0.09 vs. $0.08 last year; estimate: $0.10
NetGravity (Nasdaq: NETG) -- Q4 EPS: loss of $0.20 vs. loss of $0.88 last year; estimate: loss of $0.19
PeopleSoft (Nasdaq: PSFT) -- Q4 EPS: $0.16 (before charges) vs. $0.16 last year; estimate: $0.17
Scientific-Atlanta (NYSE: SFA) -- fiscal Q2 EPS: $0.16 (before gain) vs. $0.19 last year; estimate: $0.12
Security Dynamics Technologies (Nasdaq: SDTI) -- Q4 EPS: $0.08 (before one-time items) vs. $0.17 last year; estimate: $0.12
SportsLine USA (Nasdaq: SPLN) -- Q4 EPS: loss of $0.51 vs. loss of $0.77 last year; estimate: loss of $0.52
Veritas Software (Nasdaq: VRTS) -- Q4 EPS: $0.24 vs. $0.12 last year; estimate: $0.21
WavePhore (Nasdaq: WAVO) -- Q4 EPS: loss of $0.24 (before charges) vs. loss of $0.21 last year; estimate: loss of $0.28

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