NEWS--- up on e-tail site
Company also tapped as SmartMoney recommendation
By Ron Feemster, CBS MarketWatch
Last Update: 12:54 PM ET Feb 8, 1999
See: NewsWatch
VALLEY COTTAGE, N.Y. (CBS.MW) -- Shares of
Micros-to-Mainframes became the latest beneficiary of the now-familiar
leap that greets virtually any announcement that a company is expanding
its business to include e-commerce.
In response to Micros-to-Mainframes' announcement Monday, investors
sent the stock (MTMC) screaming upward. It peaked at 12 1/8. By early
afternoon, the stock was at 8 3/4, up 2 3/8 (or more than 37 percent) on
volume of about 6.4 million shares. Over the past 30 days, the stock's
average daily trading volume was about 30,000 shares.
The company's two new e-commerce sites, which
are expected to be "fully functional" on March 1,
will offer custom-designed computers and
accessories on one site and "high-end service
offerings" on another, the company said in a press
release.
Micros-to-Mainframes noted in a separate release
that it had been featured in SmartMoney magazine
as a "recommended buy."
Micros-to-Mainframes is a profitable designer and
installer of network systems and Internet sites and a
reseller of Cisco routers as well as Microsoft and
Novell software systems, according to
SmartMoney.
The company earned $215,000 on net sales of $15
million in the quarter ended Sept 30, 1998,
compared with $128,000 on net sales of nearly
$17.4 million a year earlier.
The company invited guests to tour www.orderpc.com, the hardware
sales site it is currently constructing.
Ron Feemster is a reporter for CBS MarketWatch. |
