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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (63660)	9/28/1999 10:11:00 PM
From: Susan G	Read Replies (1) \| Respond to of 120523

USWeb/CKS Jumps on Investment From Microsoft; After-Hours Trading Update By Tara Murphy Staff Reporter 9/28/99 8:45 PM ET USWeb/CKS (USWB:Nasdaq) said that Microsoft (MSFT:Nasdaq) will take a $67.5 million stake in the company over the next year, supporting new application services and technologies. In 18 months, USWeb, in accordance with the deal, will give Microsoft royalties on service offerings associated with the technologies. In addition, Microsoft agreed to buy warrants for $14.9 million, enabling the company to buy 1 million USWeb/CKS shares for $27.59 each at any time over the next five years. USWeb rocketed 4 1/8 to 34 3/4 in after-hours trading on Island ECN (see below). Separately, Microsoft has factored into its budget $3.8 billion for research and development in fiscal 2000, a 36% increase from $2.8 billion in fiscal 1999, according to documents filed today.