C-Cube Message Board - Msg: 5645339

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Technology Stocks : C-Cube

CUBE 37.23

-0.3%

Nov 28 12:59 PM EST

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To: J Fieb who wrote (35614)	9/1/1998 4:02:00 PM
From: John Rieman	of 50808

Divx still doesn't have financing............................ Circuit City still has no financing for Divx . And that probably delights DVD enthusiasts who worry that throw-away Divx disks will kill DVD. New York Times News Service RICHMOND, Va. --Circuit City Group, the No. 2 U.S. consumer electronics retailer, said it's still trying to secure financing for its startup movie-rental technology and sees continued losses from its used-car chain in the second half. The operator of Circuit City stores said it expects fiscal second-quarter earnings to meet analysts' expectations of 32 cents a share because of strong sales of computers and appliances. Circuit City also expects continued robust sales of consumer electronics in the second half. The strength of Circuit City's retail business has been clouded by questions surrounding its investment in its technology venture Digital Video Express, or Divx. The retailer had originally said it might get financing for Divx by today and remove the venture's losses from its books. Today, Circuit City said Divx will lower second-half earnings by 45 cents a share if it still can't get financing. "The question is, how long does Circuit City persist with its strategy of trying to develop these other businesses, and accepting a situation where the turnaround in consumer electronics isn't being recognized?" said analyst Peter Caruso of Merrill Lynch & Co. more.............................. wichitaeagle.com

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