GWRX Leader in Smart Phone Market Message Board

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Technology Stocks : GWRX Leader in Smart Phone Market

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To: OD Bobo who wrote (754)	2/17/1999 4:39:00 PM
From: rag2rag	Read Replies (3) of 960

Geoworks gets air on Amazon deal Stock surges on news of Net player's cash injection By Cecily Fraser, CBS MarketWatch Last Update: 2:22 PM ET Feb 17, 1999 Earnings Surprises Earnings Headlines ALAMEDA, Calif. (CBS.MW) -- Shares of Geoworks Corp. soared 47 percent at one stage Wednesday as investors cheered the news that Internet giant Amazon.com bought a minority interest in the company. Geoworks (GWRX) shares rose 1 5/16 to 5 5/16 in recent trade. The provider of software for the wireless industry said Amazon.com (AMZN) spent $5 million for a 7 percent stake in the company. In a release, Geoworks said Amazon.com's purchase is a "positive step" in pursuing its web-to-wireless business model, making it easier for customers to access the Internet using cellular services. Amazon will assume Geoworks' Seattle office lease and hire some of its employees. "Our vision at Geoworks is to facilitate the reach of the Internet from the desktop PC to the wireless device," said Geoworks Chief Executive Officer Dave Grannan. "We see this as a positive step as we pursue our web-to-wireless business model." Smith Barney Investment Advisors, as part of Citigroup (C), also owns a 27 percent stake in Geoworks. As of last summer, mobile phone supplier Nokia (NOK.A) owned about 1 million shares, down substantially from its holdings over the past few years. Geoworks creates software for a variety of wireless devices, ranging from enhanced phones to smart communicators cbs.marketwatch.com Yahoo !!! regards

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