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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: FTP$s who wrote (6449)	6/18/1999 10:40:00 PM
From: pubcrawl	Respond to of 10081

From the WSJ - Jun 18, I like "messaging pioneer". General Magic surged 1 1/16, or 28%, to 4 7/8 on Nasdaq. Excite At Home plans to offer free voice mail to users of its Web site through a deal with the messaging pioneer, people familiar with the matter said (see article). And From Dow Jone - Jun 18 General Magic's Shares Soar On Reported Alliance With Excite 06/18/1999 Dow Jones Business News (Copyright (c) 1999, Dow Jones & Company, Inc.) NEW YORK -(Dow Jones)- Shares of General Magic Inc. skyrocketed Friday following a Wall Street Journal article that said the messaging-software maker plans to team up with Excite At Home Corp. to offer free voice mail on the Internet. At the close, shares of General Magic (GMGC) were up $1.063, or 28%, at $4.875 on volume of 6.7 million shares, about eight times its average daily volume. Sources said the companies plan to announce the pact as soon as Monday and are expected to share advertising revenue. Both companies declined to comment Friday. Lewis Alton, an analyst at L.H. Alton & Co., said such an announcement "is all it takes" to rocket the stock of a small-cap like General Magic, "especially among the kind of investors who have bought into this," whom he described as "not serious investors." The deal would allow Excite users to register a phone number where voice messages would be left and later translated into electronic-mail messages. A partnership with Redwood City, Calif.-based Excite At Home (ATHM) could help General Magic, which has struggled to get customers for its Portico messaging service. Portico integrates voice mail, electronic-mail, fax and information retrieval and is based on recognizing users' voice commands. The service is designed to allow mobile users to check their calendars, address books and manage other communications over the telephone. Last week, General Magic announced a free service, myTalk , in which users can have their e-mail read to them over the phone. The services follow similar offerings by start-ups such as OneBox.com Inc., Telebot Corp. and uReach.com Inc. But the larger Web profile of Excite, one of the busiest sites on the Internet, could quickly raise awareness of the new technology, analysts said. Based in Sunnyvale, Calif., General Magic was founded in 1990 by former Apple Computer Inc. employees and bankrolled by big-name investors such as AT&T Corp., Sony Corp. and Motorola Inc. It failed to successfully commercialize its original products, which included operating systems for hand-held computers and "agent" software that could move around computer networks to perform tasks. The company later dumped its management and software business, shifting to the Portico service.