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CNNfn after the bell
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November 9, 1998: 5:36 p.m. ET
Better-than-expected earnings dominate after hours news
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NEW YORK (CNNfn) - Earnings from Office Max and Au Bon Pain, and a favorable FDA advisory panel ruling for Vysis Inc. highlighted Monday's after hours batch of corporate news.
OfficeMax, Inc. (OMX) reported third quarter earnings of $33.58 million or 27 cents per diluted share, in line with analysts' expectations, according to First Call. Last year, the office products retailer earned $31.44 million or 25 cents a diluted share. Shares of OfficeMax closed unchanged at 10-1/4.
Au Bon Pain Co., Inc. (ABPCA) posted a smaller-than-expected loss of $498,030 or 4 cents a diluted share in the third quarter, below last year's profit of $1.46 million or 12 cents a diluted share. Analysts had forecast a loss of 7 cents a share. The company's stock fell 1/4 to 6-3/4.
GST Telecommunications (GSTX) reported a loss of $65.31 million or $1.76 per diluted share, above last year's $46.03 million or $1.72 a diluted share. Excluding a special charge, the company's net loss totaled $47.65 million or $1.32 a diluted share, beating Wall Street estimates of a $1.39 per share loss. GST shares closed down 1/16 at 7-3/8.
In non-earnings news, LTV Corp. (LTV) announced it will shut down some of its cold roll finishing operations during the first quarter of 1999 and lay off 320 operating and maintenance employees, over 80 percent of which will be eligible for retirement. The company's stock sagged 1/16 to 6-9/16.
A Food and Drug Administration advisory panel voted in favor of marketing approval for Vysis Inc.'s (VYSI) breast cancer diagnostic test. The test aims to give a more accurate way to decide if aggressive breast cancer patients should use Herceptin, the only drug specifically approved to treat that form of the disease. Shares of Vysis dropped 1/2 to 6-1/4. 
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