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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: kendall harmon who wrote (25229)	2/17/1999 10:08:00 AM
From: Teri Garner	Read Replies (2) \| Respond to of 120523

GWRX ($6) - AMZN buys stake, vol. leader. Tuesday February 16 4:48 PM ET Amazon.Com Invests $5 Million For Stake In Geoworks SEATTLE (Reuters) - Online retailer Amazon.com Inc. has invested $5 million to buy a 7 percent stake in Geoworks Corp. (Nasdaq:GWRX - news), which focuses on delivering Internet access via wireless devices, the companies said Tuesday. Under an agreement between the two companies Amazon.com will assume the lease on Geoworks' Seattle office and hire some of its employees, Alameda, Calif.-based Geoworks said. ''We see this as a positive step as we pursue our Web-to-wireless business model,'' Geoworks Chief Executive Dave Grannan said in a statement. The announcement was made after the close of the stock market. Earlier, Geoworks shares rose 34 cents to close at $3.375 on Nasdaq, where Amazon.com fell $5.875 to close at $98.625. Seattle-based Amazon.com has said it expects to spend heavily this year to expand far beyond its roots as an online bookseller. The company's rich stock price and a recent bond offering have given it the ability to make a major acquisition, spurring speculation about its intentions.