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Technology Stocks : Commerce One Inc - (CMRC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (785)	1/31/2000 7:54:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1938

Freemarket dips after losing key account While the company added 18 new clients in the quarter, including Raytheon, FreeMarkets disclosed earlier this month that its large client GM will cancel its contract. In the year-ended Dec. 31, 1999, sales to GM represented 15 percent of the company's total revenues. For the quarter, that amount decreased to 10 percent, the company said in a statement. The company's GM woes come in part because the automaker has shifted its business to FreeMarkets rival Commerce One. In November, GM said it will join Commerce One in creating a business-to-business e-commerce site called GM TradeXchange and will take a 19.9 percent stake in Commerce One. FreeMarkets also said revenues from United Technologies, another major client, declined from 34 percent to 22 percent of the company's total revenues. yahoo.cnet.com