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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (29090)	10/1/1999 3:47:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

<<Wireless telecom giant Vodafone AirTouch (VOD) could get a boost Friday. That's because the company's pricey stock splits five-for-one at the close of trading. >> Tech Is Risky Business Dawn Patrol October 01, 1999 by Loren Fox Technology stocks managed to post modest gains Thursday, but there are risks ahead. Observers credited some of the advance on the last day of the quarter to ?window dressing.? That?s when portfolio managers pack their funds with the hot stocks because they know their quarterly reports will show their holdings as of Sept. 30. The danger is that in face of continued worries about interest rates, these same fund managers will now unload the hot stocks, which are mostly tech stocks. The technology-rich Nasdaq composite index rose 0.6 percent Thursday. The bond market also rose. The yield on the benchmark 30-year Treasury bond, which is a proxy for interest rates, was holding at 6.04 percent. On the economic front, at 8:30 a.m. EDT, the Commerce Department reports monthly personal income and consumption. Economists expect the reports to show that in August, income rose by 0.4 percent, while consumption outpaced it (this is America, after all) by rising 0.6 percent. Also, at 10 a.m., the National Association of Purchasing Management releases the purchasing managers' index for September. Company Happenings: Look for more action in the stock of broadband provider Excite@Home (ATHM). After Thursday's markets closed, its largest shareholder, AT&T Corp. (T), said it was still exploring alternatives for its 58 percent stake in the company. This came one day after rumors about splitting off Excite (just four months after acquiring it) swept through the market. In its statement, AT&T cautioned that it has made no decision on any deals. Excite@Home shares were higher in after-hours trading Thursday evening. The board of BroadVision (BVSN) approved a three-for-one stock split. The split will be effective for shareholders of record as of Oct. 11 at the e-commerce software company. Communications equipment maker Cidco Inc. (CDCO) warned Thursday evening that its third quarter was hurt by problems from Hurricane Floyd in the eastern U.S. and the earthquake in Taiwan. The nation?s biggest maker of caller i.d. devices said Q3 revenues would be in the range of $36-$37 million, below the $41.7 million analysts had expected. And the company estimated earnings would be 1 to 3 cents a share, below Wall Street?s estimate of 7 cents. Wireless telecom giant Vodafone AirTouch (VOD) could get a boost Friday. That's because the company's pricey stock splits five-for-one at the close of trading. IPO Patrol: The tech-related initial public offerings expected to watch on Friday is Williams Communications (WCG), which began when its parent, natural-gas company Williams Cos., laid fiberoptic cables along its pipeline rights of way. The telecom service provider priced its IPO at $23 a share. Also expected to debut Friday is Digital Insight (DGIN), which provides online banking services. Digital?s IPO was priced at $15 per share, above the expected range of $12 to $14. Thursday's hot IPO was TiVO (TIVO), which makes a personal, programmable video recording device. The deal priced at $16 per share, and the stock rose 87 percent in its first day of trading to close at $29.94. Venturing Some Advice: Is this is sign that the venture capital market is overheating? You may have heard that the Central Intelligence Agency has set up its own venture capital firm, called In-Q-It, with $28 million to invest in information-technology companies that are relevant to the "intelligence" business. None other than Draper Fisher Jurvetson, one of the leading firms in the VC industry (having backed such companies as Hotmail and Preview Travel), decided to be neighborly. The firm sent the CIA a welcome to Silicon Valley along with the following suggestions: 1. The only bugs we have out here are in our software. 2. The term "taking out" is a little different out here. When we do it, we're taking a company public. 3. "Hits" are what we call visits to Web sites, not what you know them as. 4. Collecting eyeballs is not to be taken literally. 5. Change the name. Nothing is centralized here in Silicon Valley. 6. You need to add a ".com" to your business cards. 7. Your Agents should learn to play ultimate Frisbee, it will help them fit in. 8. When raising your first fund, don't start files on people who don't want to invest. 9. You will find that the entrepreneurs always have better information on you, than you do on them. 10. Finally, the best intelligence about the Valley we can give you is that Stanford always beats CAL.