The corpses keep floating to the surface:
<<EToys, once the darling of e-commerce companies, slashed its staff by 70 percent Thursday as it continues to search for a buyer. The company also will shut down its U.K. site Jan. 19 and will soon after shut down its European operations.>>
<<News Corp., the media empire controlled by Rupert Murdoch, is shutting down its online division and eliminating more than 200 jobs in an effort to conserve badly needed cash.
The company said in a statement released late Thursday that it would transfer the production of three major Web sites back to the networks they are associated with -- Fox Broadcasting Company, Fox Sports Television Group, and Fox News Channel.>>
<<Covad Business Solutions is laying off about 400 workers, nearly half its work force, as parent company Covad Communications Group restructures and cuts costs.
The layoffs announced Wednesday at the high-speed Internet unit come on top of 400 layoffs announced by Covad Communications in November.
Covad Business Solutions uses digital subscriber line technology to provide high-speed Internet access to businesses. Formerly known as Bluestar, it merged with Santa Clara, Calif.-based Covad last fall after an initial public offering last spring failed.
Covad, the leading national DSL broadband services provider, struggled in the stock market in 1999, seeing its shares drop from a high $66.67 last March to as low as $1.25.>>
<<Mercata Inc., an online retailer that promised lower prices through group purchases, said on Thursday it is shutting down, one day after it scrapped plans for an initial public offering of stock.
The Bellevue, Wash.-based company, backed by Microsoft Corp. (NasdaqNM:MSFT - news) co-founder Paul Allen, said it was unable to raise additional funding to stay in business and was the ``latest casualty in market rejection of e-commerce.''>>
<<Telecommunications- equipment maker Brooktrout Inc. (NasdaqNM:BRKT - news) said Thursday it expects fourth-quarter earnings and profits to miss expectations due to a general slowdown in its core market.
Needham, Mass.-based Brooktrout, which delivers hardware and software products to telecommunications companies, expects to report fourth-quarter net income between 3 cents and 5 cents a share and core revenues for that period of $33 million to $33.5 million, it said in a statement.
Brooktrout expects core revenue for the first-quarter of 2001 to be about $28 million to $30 million with net earnings at around 3 to 5 cents a share, barring any further declines in growth of the telecommunications equipment market, it said.>>
<<E-services consultancy Sapient (NasdaqNM:SAPE - news) said Thursday its unaudited fourth-quarter earnings per share was 16 percent short of Wall Street consensus forecast.
The Cambridge, Mass.-based company cited slower spending on the part of large, global clients and continued reduction in the proportion of its revenues derived from dot.com clients.>>
<<Communications equipment maker Next Level Communications Inc. on Thursday cut its growth outlook through 2001 due to lower sales to Qwest Communications International Inc. (NYSE:Q - news) and slower-than-expected customer development in Korea.
Next Level (NasdaqNM:NXTV - news), which makes equipment that turns traditional telephone lines into high-speed pipes able to transmit television, data and voice services, expects a fourth-quarter loss of 22 cents a share on revenues of $31 million. The profit outlook excludes a $9 million to $10 million charge related to inventory revaluation.>> |
