To: Bill Rood who wrote (4077 ) 11/9/1998 8:09:00 PM From: Nick Respond to of 10081
Read the paragraph in this article about more agreements to come! All the sudden things are looking good... General Magic Shares Rise on Agreement With Intuit Bloomberg News November 9, 1998, 11:38 a.m. PT General Magic Shares Rise on Agreement With Intuit (Update1) (Adds analyst's comments in 4th paragraph. Updates stock activity in 2nd paragraph.) Sunnyvale, California, Nov. 9 (Bloomberg) -- General Magic Inc. shares rose as much as 22 percent after the voice- recognition software company said Intuit Inc., the top maker of personal-finance software, will use General Magic's magicTalk product to allow voice-activated access to financial information on the Internet. Terms weren't disclosed. General Magic rose 3/8 to 6 3/4 in midafternoon trading of 3.2 million shares, more than four times its three-month daily average. Earlier, shares touched 7 3/4. Intuit, based in Mountain View, California, fell 1/8 to 49 3/4. Sunnyvale, California-based General Magic said its magicTalk product will allow users of Intuit's Quicken.com personal finance Web site access to financial information from a telephone. Quicken.com will also be able to be used with General Magic's Portico service, which lets users access voice mail, e-mail, digital address books and other data via phone or the Internet. ''I would imagine General Magic would have several other magicTalk announcements,'' said Lewis Alton, an analyst at L.H. Alton & Co. ''It's difficult to assume that Intuit is the only company that would want to associate with Portico.'' General Magic said limited access to its Portico service for Quicken.com users will become available in January