To: Jenna who wrote (39891 ) 5/13/1999 11:04:00 AM From: HarryF Respond to of 120523
USWB - Maybe with this out of the way USWB shares will climb with the rest of the market?: (6 days left on our options) Maybe this is why it didn't go up yesterday even with a hot market and a couple of upgrades! Wednesday May 12 6:32 PM ET Intel Sold 425,000 Shares Of USWeb WASHINGTON (Reuters) - Intel Corp. (Nasdaq:INTC - news), the big computer chip maker, said Wednesday it sold 425,000 common shares of USWeb Corp. (Nasdaq:USWB - news), one of hundreds of holdings in its $2.5 billion portfolio. Intel's sale around May 6 is ''something we commonly do,'' Intel spokesman Robert Manetta said, explaining that Intel, based in Santa Clara, Calif., has a portfolio of stocks in some 200 companies in which it sometimes sells shares. ''We're always looking at the portfolio in terms of the market conditions, how individual stocks are doing and from time to time may decide to sell a portion of our holdings in one of our portfolio companies,'' Manetta said. ''If we can take money out of a company that's had some success and redirect it into our younger companies, we'll often do that,'' he added. The shares Intel sold were worth more than $9.8 million, according to a filing it made with the Securities and Exchange Commission. The spokesman declined to say how much Intel initially invested in USWeb, a Web site services provider also headquartered in Santa Clara. In a February filing, Intel said it held about 1,277,699 common shares of USWeb, based on the 1,702,699 shares it said it previously held in a February SEC filing. USWeb currently has more than 74 million shares outstanding. Intel's stock closed up 19 cents at $62.50, while USWeb finished down 44 cents at $25.875 in Nasdaq trading.