Roller coaster rides in the general market(DOW) will affect y2k stocks.
CNBC squawk box this morning - Aetna CEO Ruber talked much about their E Pay system (electronic payment) that is supposed to resolve squabbles regarding physician payments. When asked about the y2k effect on their IT resources, he acknowledged that they started y2k work earlier and has been using some outsourcig firm. They did not cut back on their E pay development. They hired more people. Naturally, they spent a lot more money this year, affecting earnings.
3M announced earnings disappointment. Asia problems affect their earnings plus these multinationals have been spending on y2k remediation.
Where is the money going? Here is another evidence for an emerging sector with explosive growth.
biz.yahoo.com
Here is the trend in business-to-business e commerce -
biz.yahoo.com
Here is how y2k companies use their cash and stock to acquire businesses for work beyond year 2000.
SPNSF - biz.yahoo.com
CBSL - biz.yahoo.com
(work beyond year 2000 - Chicago Title-Market Intelligence Selects Complete Business Solutions Inc. -- CBSI -- To Implement A Major Client/Server Conversion Project - Business Wire)
IMRS - IMR Announces Intent to Acquire RHO Transformational Technologies Pty Limited - PR Newswire - 3:35 pm
Information Management Resources, Inc. Acquires Lyon Consultants, S.A. - PR Newswire - 9:53 am
SEEC - SEEC, Inc. Announces Record Results
PITTSBURGH, May 11 /PRNewswire/ -- SEEC, Inc. (Nasdaq: SEEC - news)...
Separately, the Company announced that it had entered into an agreement with ERA Software Systems Private Limited (ERA), SEEC's affiliate and distributor in Hyderabad, India, to purchase certain assets of ERA in a transaction valued at approximately $1 million. Included in the purchase are ERA's distribution rights in India for SEEC products, plus certain fixed assets and 30 employees engaged in research and development, sales and administration. ...acquisition will be accomplished through a newly-formed, wholly-owned
subsidiary, SEEC Technologies Asia Private Limited.
Ram |
