frank, news of some of the stocks you hold...
Sun Microsystems Reports Record Third Quarter Earnings
For the first nine months of fiscal year 1998, Sun reported revenues of $6.910 billion, up 14 percent compared with
$6.055 billion in the previous year. Net income was $618.4 million, up 24 percent over the same period a year earlier
(excluding one-time items for fiscal years 1997 and 1998). Earnings per share was $1.57, an increase of 23 percent over
the corresponding period a year ago (excluding one-time items for fiscal years 1997 and 1998). Including these one-time
items, net income and earnings per share for the first nine months of fiscal year 1998 were $489.9 million and $1.24,
respectively.
Intel Corporation (INTC)
Worldwide sales of x86 microprocessors, the most widely used primary chips in
personal computers, will rise only 16% in 1998, reflecting collapsing prices, market
researcher Dataquest said late Wednesday. Worldwide sales will rise to $22.72 billion
in 1998 from $19.58 billion in 1997. In comparison, x86 microprocessor sales rose
24% in 1997 from 1996, said Nathan Brookwood, the Dataquest analyst who compiled
the forecast. INTEL CORP is the inventor of the standard and is by far the biggest
producer, though it faces increasing competition from rivals like ADVANCED MICRO
DEVICES INC and NATIONAL SEMICONDUCTOR CORP, which sell x86 chips for much
cheaper. (Reuters 11:09 PM ET 04/15/98) For the full text story, see full story
Microsoft Corporation (MSFT)
MICROSOFT CORP plans to sell software developed for its sophisticated investment
Web site to banks and brokerages for use on their own Internet pages, a company
executive said late Wednesday. Group Vice President Pete Higgins said in an interview
that the software giant would offer what it calls the Investor Platform Kit for licensing
by banks and brokerages beginning in the third quarter. The software is based on
Microsoft Investor, a subscription-based Web site that allows users to track their
portfolios and research stocks, mutual funds and other investment opportunities using
a variety of filters. (Reuters 11:24 PM ET 04/15/98) For the full text story, see full
story
Microsoft Corporation (MSFT)
After market close, CYBERCASH INC said denied rumors that it is involved in talks to
be acquired by MICROSOFT CORP or any other company. In a prepared statement,
CyberCash spokeswoman Jordanna Taffel said: "James Condon, chief executive officer,
Bill Melton, president and chief executive officer and Russ Stevens, general counsel,
firmly state there have been no discussions of an acquisition of CyberCash." Rumors
that CyberCash might receive an investment or takeover offer lifted the stock.
Microsoft was mentioned specifically in one version as a potential investor. (Reuters
05:12 PM ET 04/16/98) For the full text story, see full story
Oracle Corporation (ORCL)
Late yesterday, ORACLE CORP CEO and APPLE COMPUTER INC board member Larry
Ellison said that Steve Jobs, Apple interim CEO, is "torn" about staying on at the
computer maker. "Steve doesn't really want to stay," Ellison told reporters at an Oracle
news conference in Redwood Shores, Calif. "On the other hand, he loves Apple." Asked
if Apple was interviewing candidates to find a permanent chief executive, Ellison said
he was, "not looking very hard." (Reuters 11:07 PM ET 04/15/98) For the full text
story, see full story
Sun Microsystems Inc. (SUNW)
Late yesterday, SUN MICROSYSTEMS INC named Greg Papadopoulos, former vice
president of technology at Sun Microsystems Computer Co, as the Chief Technology
Officer of parent Sun Microsystems Inc. Papadopoulos will report directly to Chief
Operating Officer Ed Zander. He will be responsible for assessing Sun's technological
investments and directing the activities of Sun Laboratories and its advanced
development programs. He will also provide leadership and consistency for hardware
and software architectures across SMI. (Reuters 09:29 PM ET 04/15/98) For the full
text story, see full story
Sun Microsystems Inc. (SUNW)
After market close, SUN MICROSYSTEMS INC reported 3Q EPS of $0.59 vs $0.58 on
revenues of $2.3 bln vs $2.1 bln last year. Analysts' mean estimates were $0.58,
according to First Call. (Reuters 04:20 PM ET 04/16/98) For the full text story, see full
story
Sun Microsystems Inc. (SUNW)
After market close, SUN MICROSYSTEMS INC said its federal subsidiary, Sun
Microsystems Federal Inc was awarded a $500 million contract to provide a range of
systems and services to the U.S. Postal Service over five years. The contract will
provide products, services, and support deployment of Sun servers, the Solaris
operating system and Sun's Java technology, across the U.S. Sun will provide
installation, maintenance, programming, support, personnel and training. (Reuters
06:00 PM ET 04/16/98)
Dow Jones 30 Industrials (.INDU)
MARKET NEWS: U.S. stocks ended weaker on Thursday as investors digested the week's
record-breaking gains amid relief that first-quarter earnings are holding up well. But
Cendant Corp.'s stock meltdown cast a pall over the market, prompting concern about
company valuations. Cendant, one of Wall Street's darlings, said it discovered possible
accounting fraud. The Dow closed off 86 points at 9077. The S&P500 index ended off
11 points at 1108. On the NYSE, declining issues led advancers by two to one on
heavy volume of 700 million shares. The Nasdaq fell five points to 1858, easing back
after its record close on Wednesday. The stock market failed to glean strength from
buoyant Treasury bonds, which responded to a dollar that rose against the yen. The
30-year Treasury bond was up 7/32 to yield 5.87%. For the full text story, see full
story |
