Tandy stock rose on Wall
Street in advance of
Microsoft's announcement that it will set up "store within
a store'' retail areas in Radio Shack stores, which Tandy
owns. Meanwhile, rival Circuit City stock rose after Merrill Lynch
said it expects the company to form a partership of its own,
perhaps with America Online.
Wednesday afternoon, the
bank slashed its 1999 Wall Street earnings forecast and canceled a
conference scheduled for Monday with analysts and investors.
Bank One cited softness in earnings at its First USA credit
The company said it expects
a slowdown in fourth-quarter sales as it cuts back on
catalog page circulation. Lands' End is cutting back on
circulation to eliminate unprofitable mailings as its
switches its focus from print to electronic commerce.
The company said
higher-than-expected costs in its food-service-distribution
business would hurt earnings in its fiscal third quarter.
The company said it expects Wall Street stocks to earn 42 cents to 45 cents a
share, below analysts' estimates of 58 cents per share.