"Stock to Watch"--MarketWatch:>>>TWA, AirTran, AOL and more
cbs.marketwatch.com
By Debra McGarry & Deborah Adamson
Last Update: 5:18 PM ET Jun 17, 2000 NewsWatch
Latest headlines
The reported TWA and AirTran merger stands little chance of succeeding, the New York Times reported, citing comments from an investment banker who knows both companies. AirTran (AAIR: news, msgs) would have to raise a lot of money to buy TWA (TWA: news, msgs). It would have to tap the junk bond market, which is weak right now, the source was quoted as saying. On Friday, published reports said AirTran was considering buying TWA. AirTran was the former ValuJet. Friday TWA shares closed up 3/8 at 1 15/16, and AirTran closed at up 1/4 at 4 9/16.
America Online (AOL: news, msgs) confirmed reports that it was targeted by hackers who gained access to customers? account information. These include names, addresses and even credit card numbers. Kelly Hallissey, a member of the Web site that first reported the security hole said AOL customers who are affected were contacted on Friday and Saturday to be reassured and given three months of free AOL. Shares closed Friday at 54 11/16, up 1/4.
Autobytel (ABTL: news, msgs) named an interim CFO to replace Hoshi Printer, who is heading to a spot as CFO and president at BestOffer.com. Shares closed off 3/16 to 6 13/16 in the regular trading session on Friday but were unchanged in the evening.
After the market closed Friday, Cendant (CD: news, msgs) announced that it has postponed the spinoff of its tracking stock Move.com Group. Cendant is a provider of real estate, travel and direct marketing- related consumer and business services. Move.com Group provides online relocation services for consumers. Cendant shares fell 1/4 to close at 13 1/4 and were unchanged in the after-hours session.
Computer Associates (CA: news, msgs) sent out a warning to computer users about a new virus that mimics the ?I Love You? bug but is sneakier. Called the ?WORM? virus, it spreads through Microsoft?s (MSFT: news, msgs) Outlook e-mail program and can overwhelm e-mail servers. But unlike the ?I Love You? virus, the worm changes the subject of the e-mail randomly in order to trick users. Computer Associates said it spotted the virus early Saturday morning. Shares of the software maker closed Friday up 1 7/16 at 55 7/16.
Online broker E-Trade is experiencing growing pains. The company (EGRP: news, msgs)said it is feeling the pressure of a tight labor market and the need to upgrade technology. Competition for qualified personnel is ?intense, and there can be no assurance that we will be able to find or keep additional suitable senior managers or technical persons or licensed representatives in the future,? E-Trade said in an SEC filing said. ?In addition, we expect that future expansion will continue to challenge our ability to successfully hire and retain associates." Shares of E-Trade closed up 1/2 Friday at 17 5/8.
Intel (INTC: news, msgs) plans to unveil five new mobile processors Monday, used in mobile PCs, such as notebooks, thin, light and ultraportable systems. The processors will be available in products the public will see in the next 60 days. The chipmaker saw its shares close down 2 3/16 at 126 1/16 in the regular trading session but edged down 1/4 to 125 13/16 on Island. See related story.
Koger Equity (KE: news, msgs) announced after the market closed, that the company will cut 13 jobs as part of the a major streamlining. The restructuring program will result in a $7.9 million one-time charge in the second quarter. Analysts expect a profit of 61 cents a share for the quarter. Shares of the self-managed real estate investment trust closed off 1/16 at 17 11/16.
After the market closed, Musicmaker.com (HITS: news, msgs) announced that the company and America Online (AOL: news, msgs) have mutually agreed to end their interactive marketing agreement. Specific terms of the agreement were not disclosed. Musicmaker.com, which provides customized CD compilations over the Internet, saw its shares close flat at 2 while AOL lost 5/16 to close at 54 11/16.
Seagram (VO: news, msgs)has reportedly spent the last few days in feverish talks of a possible $30 billion deal with French utilities giant Vivendi. (VVDIY: news, msgs) Montreal-based Seagram?s movie and music businesses make attractive takeover target for Vivendi as it attempts to develop media content. Shares of Seagram closed down 1 Friday at 61 7/16.
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Debra McGarry is a reporter for CBS.MarketWatch.com.
Deborah Adamson is a reporter for CBS.MarketWatch.com.<<<
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