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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: GST who wrote (135336)	12/1/2001 10:46:30 PM
From: H James Morris	Respond to of 164684

November 30, 2001, 5:15 a.m. PT LONDON--Britain's Cable & Wireless said Friday that it had agreed to buy assets from troubled U.S. Web hosting company Exodus Communications for around $850 million, in an all-cash deal to boost its online offerings. The telecommunications company said it would take over the Exodus customer contracts in the United States, Japan and Europe, together with some corporate and data-center assets. The deal would expand its Internet interests and yield cost savings. Exodus, a victim of the dot-com bust, filed for bankruptcy early last month, and its shares have been trading as a penny stock on the over-the-counter bulletin board. The stock reached an all-time high of $89.81 on the Nasdaq in March 2000. C&W, which recently said it planned to hand back more than $2.4 million (1.7 billion pounds) to shareholders through a special dividend and share buybacks, has been under increasing pressure to use some of its remaining cash pile or return that to investors too. The company said it would take up to $250 million of additional investment to get Exodus to cash-flow breakeven. The Exodus business was expected to enhance earnings per share and free cash flow in the financial year to March 31, 2005. C&W said the combination would position it for strong growth in the managed hosting and Web services markets, and that it could be significantly compatible with Digital Island, which C&W bought earlier this year for $340 million. Story Copyright © 2001 Reuters Limited. All rights reserved.

To: GST who wrote (135336)	12/2/2001 2:57:31 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

The country's best fund manager has beaten the the market ten years running by buying what everyone is selling. What's he betting on now? Would you believe Amazon.com?? >It's in the past two years, though, that Miller has made his most controversial bet ever: becoming the largest outside investor in online retailer Amazon.com. (Only CEO Jeff Bezos owns more.) To the bewilderment of his peers, Miller believes Amazon's business model will one day emerge victorious. And on the strength of that conviction, he has bought over 50 million shares. When he first began buying the stock on Sept. 29, 1999, it stood at $80--and he has doggedly continued to buy even as it has fallen into the single digits. If he's wrong, it will be the most public failure of his career. But if he's right--and Miller still believes he is--the Amazon bet will rank as one of the great investment calls of all time fortune.com