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To: Dealer who wrote (2484)9/20/2000 8:27:03 AM
From: Dealer  Read Replies (1) | Respond to of 65232
 
CSCO/INTC--Informix sinks in pre-market
ExciteAtHome slips on CEO resignation

By Tomi Kilgore, CBS.MarketWatch.com
Last Update: 8:15 AM ET Sep 20, 2000 NewsWatch
Latest headlines

NEW YORK (CBS.MW) - Shares of Informix dropped in pre-market trading Wednesday after the company said it expected to report an operating loss in the third quarter.


Today on CBS MarketWatch
Chip shares lead Nasdaq back into positive territory
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CBS MarketWatch Columns
Updated:
9/19/2000 11:02:40 PM ET



Informix (IFMX: news, msgs) fell $1.16, or 22 percent, to $4 in Instinet. The Internet infrastructure provider said it will report losses of 5-to-8 cents a share, compared with the average analyst estimate compiled by First Call of a profit of 2 cents a share. The company expects to breakeven in the fourth quarter, while analysts had pegged EPS at 6 cents. Among factors negatively affecting financial performance were foreign exchange rates and lower demand associated with Y2K.

Separately, Informix said Robert Finocchio, Jr., its chairman resigned effective Sept. 18.

ExciteAtHome (ATHM: news, msgs) slipped 82 cents to $15.37 over the Island ECN. The global media company announced late Tuesday that its chief executive and chairman, George Bell, would resign. Bell, 43, joined Excite in January 1996 as the company's CEO and then was named president following the merger of Excite Inc. and AtHome Network in 1999. Bell was named CEO and chairman of the board in 2000. Bell, formerly of Times-Mirror magazine, will continue his role as CEO until a replacement is found and will remain as full-time chairman until at least the end of next year.

Among other stocks seeing activity, Intel (INTC: news, msgs) edged up 12 cents to $60.50, Cisco Systems (CSCO: news, msgs) trimmed 31 cents to $61.69 and Microsoft (MSFT: news, msgs) gained 25 cents to $65.25 over the Island ECN.

Also, Nokia (NOK: news, msgs) slipped $1 to $44 in Instinet. The company said that two of its China-based joint ventures have won a contract valued at $100 million to provide the expansion of China Unicom's (CHU: news, msgs) mobile network, which is based on the GSM standard.

Stock futures pulled back, indicating a negative open to U.S. share markets. December S&P futures (WP=Z0: news, msgs) eased 1.00 to 1,477.50. That was about 3 3/4-points below fair value, according to figures provided by HL Camp & Company. Nasdaq 100 futures (AH=U0: news, msgs) shed 13.00 to 3,791.00.