Also . . .

Polo Ralph Lauren Corp. is expected to announce that it will cut more than 200 jobs and take other cost-saving measures when it reports earnings for its fiscal third-quarter today, according to sources close to the New York clothing company. The company, which employs about 5,800 people, declined to comment. Ralph Lauren, although one of the best-known upscale clothing brands in the world, has experienced disappointing sales.

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PepsiCo Inc.’s earnings dropped 27% in the fourth quarter to $325 million, even as revenue grew 15% to $7.19 billion. Worldwide soft drink operating profit fell amid price pressures and higher advertising expenses. Profit from snacks rose slightly as sales grew 4%.

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Aetna Inc., the biggest U.S. health insurer, said its fourth-quarter profit before one-time charges rose 8.1% to $154.2 million, or 98 cents a share, 2 cents higher than estimates, with help from premium increases. Revenue jumped 19% to $5.7 billion.

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American Retirement Corp. dropped its plans to buy Assisted Living Concepts Inc. for $487 million, a deal that would have created the second-largest U.S. provider of housing and health services for senior citizens. The deal fell through after Assisted Living said it would restate its earnings for 1997 and most of 1998 and take a charge of $1 million in the fourth quarter.

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United Technologies Corp., one of the top two makers of military helicopters, said its Sikorsky unit bought Associated Aircraft Group to develop a part-ownership helicopter business. Terms weren’t disclosed. Closely held AAG will continue to operate its six helicopters as a separate Sikorsky unit.