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Technology Stocks : Nortel Networks (NT)
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To: Kenneth E. Phillipps who wrote (2233)3/16/1999 8:41:00 AM
From: KYA27  Read Replies (1) of 14638
 
Investors shrug at Nortel deal
Elsewhere in telecommunications, the latest big-name alliance
among bellwethers of tech garnered only a dollop of Wall Street
interest.
Canada's Northern Telecom (NT) lined up for a four-way tie-up
with Microsoft (MSFT) Intel (INTC) and Hewlett-Packard (HWP)
to produce equipment that will let companies send voice, video
and data traffic over their computer networks.
Nortel, the only telecommunications gear maker in the bunch,
added 1-3/8 to 60-3/16.
But the agreement didn't give any particular boost to Nortel's stock,
as its top rivals also rose: Cisco Systems (CSCO) gained 1-3/4 to
105 and Lucent Technologies (LU) rose 2-9/16 to 105-13/16.
Among Nortel's partners, H-P rose 2-9/16 to 71-9/16, and
Microsoft rose 5-11/16 to 165-7/8 Chip giant Intel shed 3/8 to
117-7/8.
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