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Technology Stocks : Hyperfeed Technologies, Inc. (HYPR)
HYPR 1.125+3.7%3:59 PM EST
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To: michel petit who wrote (1864)4/26/1999 6:17:00 PM
From: TFF  Read Replies (1) of 2231
 
CNN - PCQuote.com to go public
Financial data provider to spin off its online unit, change name to HyperFeed

April 26, 1999: 11:09 a.m. ET


NEW YORK (CNNfn) - Financial data company PC Quote Inc. Monday said it plans to spin off its Internet unit in a public offering, hoping to capitalize on investor appetites for "dot-com" stocks.
The Chicago-based firm also said it plans to change its name to HyperFeed Technologies Inc. to differentiate itself from PCQuote.com.
PC Quote (PQT) provides real-time stock and market quotes via its proprietary HyperFeed 2000 system. Its Internet subsidiary, PCQuote.com, provides financial data to online investors.
The parent company said it will file a registration statement for the IPO within 30 days.
PC Quote hopes investors will continue to exhibit a high level of enthusiasm for Internet-related IPOs, particularly in light of its own financial woes. Last month, PC Quote reported a 1998 net loss of $7.5 million, or 57 cents a share.
(Click here to see a chart of PC Quote's one-year stock activity.)
But the company said Internet revenue represented 44 percent of the company's total revenue of $23 million.
Earlier this month, PCQuote.com entered into an alliance with CNNfn under which CNNfn.com provides news to PCQuote.com. CNNfn also holds a minority stake in the firm.
PC Quote shares were up 11/16 at 13-13/16 in morning trade.

cnnfn.com
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