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News Date: Tuesday 31st August 1999
Today's Top Business Headlines:
Apple - Compaq
  • GetMedia gets Microsoft
    Time: 09:26 EDT/14:26 GMT Source: Posted By: Matt

    GetMedia will allow users of Windows Media Player to buy CDs directly off the web. GetMedia and Microsoft are announcing that when Microsoft’s new IE5 rolls out it will allow listeners using Windows Media Player to instantly purchase the music being streamed over the Internet.

  • Apple unveils 'blazingly fast' Power Mac G4
    Time: 09:26 EDT/14:26 GMT Source: Posted By: Matt

    Apple Computer today unleashed a "blazingly fast" desktop computer that it claims packs the power of a supercomputer. Whether it slows down Microsoft's invasion of the high-end publishing market is another matter, though.

  • AOL, eBay: You've got auctions
    Time: 09:26 EDT/14:26 GMT Source: Posted By: Matt

    Internet giant America Online and eBay, the world's most popular person-to-person trading site, today launched a cobranded site designed to give AOL members access to eBay's auction site but in a familiar AOL format.

News Date: Tuesday 17th August 1999
Today's Top Business Headlines:
 BP & Net - HP
  • BP Amoco pumps up Web
    Time: 11:36 EDT/16:36 GMT Source: CNN Posted By: Bob

    BP Amoco plans to connect thousands of its gas pumps to the Internet, allowing drivers to surf the Web as they fill their tanks, according to a published report Tuesday


  • FCC ruled states can't regulate broadband
    Time: 11:36 EDT/16:36 GMT Source: CNN Posted By: Bob

    WASHINGTON, DC, U.S.A. (NB) -- By David McGuire and Bob Woods, Newsbytes. Local governments don't have jurisdiction to regulate Internet access over cable lines, the Federal Communications Commission said in an amicus brief filed today in the Portland Ore. vs. AT&T [NYSE:T] open-access case.


  • Online Consumers demand E-commerce privacy study
    Time: 11:36 EDT/16:36 GMT Source: CNN Posted By: Bob

    WASHINGTON, DC, U.S.A. (NB) -- By David McGuire, Newsbytes. The majority of Internet users who are not currently participating in e-commerce would be more likely make purchases online if they felt comfortable that their privacy would be guaranteed, a soon-to-be- released study found.


  • HP Stock Under Pressure
    Time: 11:36 EDT/16:36 GMT Source: CNN Posted By: Bob

    Hewlett-Packard Co. shares slid nearly 5 percent Tuesday morning as investors backed away from Monday's anticipatory run-up to the computer maker's strong fiscal third-quarter earnings.


  • Freeserve sets Net Trading
    Time: 11:36 EDT/16:36 GMT Source: CNN Posted By: Bob

    Freeserve, the Web portal and service provider that has revolutionized Britain's Internet market, announced plans Tuesday to launch online stock trading.


  • GM to spend $360-$420 million on Y2K
    Time: 11:36 EDT/16:36 GMT Source: Yahoo! Posted By: Bob

    General Motors, Inc., the world's largest automaker, said Monday that it will spend $360 million to $420 million to prepare its extensive computer systems for the year 2000.


  • Microworkz says Aiming to settle Earthlink lawsuit
    Time: 11:36 EDT/16:36 GMT Source: Yahoo! Posted By: Bob

    Computer maker is trying to settle a lawsuit filed against it by Internet service provider EarthLink Network Inc. and so far has not made a threatened counterclaim, company executives said Monday.


  • New chip propels Broadcom stock
    Time: 11:36 EDT/16:36 GMT Source: Yahoo! Posted By: Bob

    The stock of Broadcom Corp. a maker of communications chips, rose strongly Monday after the company unveiled a new chip it said would revolutionize business networking.


News Date: Monday 16th August 1999
Today's Top Business Headlines:
  • CBS tight with
    Time: 13:26 EDT/18:26 GMT Source: CNN Posted By: Bob

    CBS Corp. said Monday it would seek to rev up its online holdings by picking up a partial stake of, an Web-based automobile parts and supplies retailer.


  • AOL to sell music online
    Time: 13:26 EDT/18:26 GMT Source: CNN Posted By: Bob

    America Online Inc. will begin selling downloadable MP3 music through its Net services, the Dulles, Va.-based firm said Monday.


  • Fastest growing 100 firms
    Time: 13:26 EDT/18:26 GMT Source: CNN Posted By: Bob

    If you think technology companies are the only fast-growing companies in the business world, think again. In Fortune magazine's list of fastest-growing companies in 1999, the techs are well represented but by no means alone.


  • AT&T Can Have Mail
    Time: 13:26 EDT/18:26 GMT Source: CNN Posted By: Bob

    A federal judge Monday granted AT&T Corp. permission to use the phrases "you have mail," "IM" and "buddy list" for its WorldNet Internet service, rejecting America Online Inc.'s claims that it held exclusive rights to those terms.


  • The Compu-Dawn in retail deal
    Time: 13:26 EDT/18:26 GMT Source: CNN Posted By: Bob

    NEW YORK (Reuters) - Compu-Dawn Inc., which provides e-commerce and communications products for the Internet, said Monday it received commitments from retail giants Wal-Mart and Kmart to sell its low-cost GlobalPC computer.


News Date: Saturday 14th August 1999
Today's Top Business Headlines:
  • Lucent to Acquire Developer of Internet Access Routers
    Time: 17:19 EDT/22:19 GMT Source: Press Release Posted By: Byron

    Lucent Technologies Inc. (NYSE:LU - news) reported that it agreed to acquire Xedia Corp., a privately held developer of high performance Internet access routers for wide area networks, for about 3.86 million shares of LU common stock.

    The transaction is currently valued at approximately $246 million.

  • Microsoft Declares Regular Quarterly Dividend on Preferred Shares
    Time: 17:19 EDT/22:19 GMT Source: Press Release Posted By: Byron

    Microsoft Corp. (Nasdaq: MSFT - news, MSFTP - news) today announced it has declared a dividend of $0.549 per share on its 2.75 percent Convertible Exchangeable Principal-Protected Preferred Shares, Series A (Series A Preferred Shares) to holders of record on Sept. 1, 1999. The dividend will be paid on Sept. 15, 1999. In December 1996, Microsoft issued $1 billion of Series A Preferred Shares.


  • Ousted Compaq CEO Pfeiffer received nearly $10 million
    Time: 17:15 EDT/22:15 GMT Source: Posted By: Byron

    Compaq Computer's ousted CEO Eckhard Pfeiffer received $9.81 million in severance pay plus options after being forced to resign in April because of poor performance at the personal computer maker.

    Pfeiffer was granted the package outlined in his employment agreement, according to a separation accord filed with the U.S. Securities and Exchange Commission. All 13.5 million options he had received while at Houston-based Compaq are fully vested and the exercise period was extended to four years from his termination. The options are valued at about $410 million.

News Date: Friday 13th August 1999
Today's Top Business Headlines:
  • Tech stocks lead market drain
    Time: 06:15 EDT/11:15 GMT Source: Posted By: Alex H

    U.S. stocks declined, led by computer-related shares including Dell Computer and Hewlett-Packard, on concern that falling prices for personal computers will cut into profits. The Dow Jones Industrial Average eked out a gain of 1.59 points to 10,789.39, while the S&P 500 fell 3.77 to 1,298.16. The Nasdaq Composite Index fell 15.49 to 2,549.49.

  • Red Hat surges on second day of trading
    Time: 06:13 EDT/11:13 GMT Source: Posted By: Alex H

    Scientific-Atlanta, a leading cable and satellite equipment maker, said fiscal fourth-quarter profit rose 31 percent on higher sales of its cable-TV equipment.

    Profits at Scientific-Atlanta, before a one-time gain, rose to $26.4 million, or 33 cents a share, for the quarter ended July 2, compared with profit before gains and charges of $20.1 million, or 25 cents, a year earlier. The company was expected to earn 28 cents a share, the average estimate of analysts polled by First Call. Revenue rose 17 percent to $355.2 million from $303.7 million, the company said.

  • Scientific-Atlanta earnings jump 31 percent
    Time: 06:10 EDT/11:10 GMT Source: Posted By: Alex H

    Scientific-Atlanta, a leading cable and satellite equipment maker, said fiscal fourth-quarter profit rose 31 percent on higher sales of its cable-TV equipment.

    Profits at Scientific-Atlanta, before a one-time gain, rose to $26.4 million, or 33 cents a share, for the quarter ended July 2, compared with profit before gains and charges of $20.1 million, or 25 cents, a year earlier. The company was expected to earn 28 cents a share, the average estimate of analysts polled by First Call. Revenue rose 17 percent to $355.2 million from $303.7 million, the company said.

News Date: Wednesday 11th August 1999
Today's Top Business Headlines:
  • Intel Stock Jumps On 2nd Half Optimism
    Time: 17:37 EDT/22:37 GMT Source: Yahoo News Posted By: Alex H

    Intel Corp (Nasdaq:INTC - news) . stock surged to a record Wednesday amid optimism that personal computer sales will be strong in the second half of the year, benefiting the world's largest computer chip maker. The stock was up 4 to 75-3/4 in late trading of 33.3 million shares, putting it atop the most active list on the Nasdaq. The stock has climbed from a year-low of 34-7/8.

    The stock also got a boost from a PaineWebber research note in which analyst John Lazlo raised his price target on the stock to $95 from $80 citing the resumption of ``the normal seasonal PC recovery'' and evidence that major PC makers are snapping up Intel's latest chip, the Pentium III. ``In addition to the seasonal PC demand pick-up and positive impact of new Pentium III products, we also expect Intel to benefit from higher unit shipments of its Xeon processor and Profusion chip set,'' Lazlo wrote.

    The Xeon processor is used in high-end workstations and powerful server computers, which run computer networks. The Pentium III is Intel's latest offering for the business and mid- to high-end consumer PC market. When Intel reported second-quarter results on July 13, the Santa Clara, Calif.-based chipmaker said it expected revenue in the third quarter to be ``slightly up'' from the $6.7 billion it had in the second quarter. Intel spokesman Tom Waldrop declined to comment on the stock price, but said ``Our guidance hasn't changed. We expect a strong second half and you would expect to see a stronger second half, given the historical seasonal pattern.''


  • Red Hat hot as it prices at top of range
    Time: 11:41 EDT/16:41 GMT Source: Marketwatch Posted By: Alex H

    Shares of Red Had priced at the top of their upped range; the Linux software specialist appeared ready to revive a flagging new issues market on Wednesday. Meanwhile, the plot line for Blockbuster (BBI: news, msgs) took a melodramatic turn as the IPO for the video retail giant barely budged from its offering price in early trades. Red Hat (REDH: news, msgs) priced its 6 million share, $83 million IPO at 14, after upping its range by 18 percent to 12 to 14.

  • GT Interactive Reports First Quarter Fiscal 2000 Results
    Time: 11:40 EDT/16:40 GMT Source: Yahoo Posted By: Alex H

    GT Interactive Software Corp. (Nasdaq: GTIS - news), a leading entertainment software publisher, today announced operating results for the first fiscal quarter ended June 30, 1999.

    Net revenues in the first quarter were $121 million, a 4% increase compared to the same period last year. The increase in sales was driven by strong performances of new internally developed titles including Driver for the PlayStation, and Total Annihilation: Kingdoms for the PC, offsetting slightly lower distribution revenues.

    The net loss from continuing operations for the quarter was $3.9 million compared to net income of $1.8 million in same period last year. The net loss attributable to common was $0.06 per share, compared to earnings per share of $0.03 in the prior year period. Year-over-year, margins were negatively impacted by a shift in published product mix to more console titles and an increase in marketing expenditures, especially television advertising.

  • Offers Best Buy
    Time: 11:38 EDT/16:38 GMT Source: Yahoo Posted By: Alex H

    Wayne Irving, president and CEO of has announced a limited time offer selling the Top Ten weekly CD titles on The Billboard 200 album chart for $7.50 each plus shipping and handling.

    ``The purpose of this 60-day offer is not to undersell other e-commerce sites or retailers, rather to draw more visitors to to introduce them to the as yet undiscovered talent we are so proud to highlight,'' said Irving

    These are the only CDs by artists that are being sold on the site. The price compares favorably to sites such as which has sold CDs in the $12 range and some other sites which have offered $10 price tags. Major labels will be impacted positively with an anticipated increase in sales volume, with no discount in the wholesale price. is rapidly establishing itself as the pre-eminent ``farm label'' for unsigned artists and bands, and plans on providing a wide variety of resources for talent and users who can download music in MP3 and other audio formats to their local PCs and digital music players.

  • Imation Announces Joint Development Agreement With Quantum Corporation
    Time: 11:36 EDT/16:36 GMT Source: Yahoo Posted By: Alex H

    Imation Corp. (NYSE:IMN - news) today announced it has entered into a joint development agreement with the world's leading tape drive manufacturer, Quantum Corporation (NYSE:DSS - news). By terms of the agreement, Imation will develop and market Super DLTtape - the next generation of DLTtape data storage media.

    The new Super DLTtape platform is a technological breakthrough in high capacity and performance data storage systems. It follows on the DLTtape format, the defacto industry standard for backing up and archiving business-critical data for mid-range servers and high-end workstations. More than one million DLTtape drives and 30 million DLTtape media cartridges have been shipped to date, according to Quantum.

    George Saliba, chief technology officer and vice president, Quantum Advanced Products Group said, ``We are pleased that Imation is embracing the Super DLTtape format. Imation's reputation and brand strength in the enterprise and data center storage markets will help Quantum to meet growing demand for our Super DLT platform.''

  • Cannon Express Inc. Announces Operating Results
    Time: 11:35 EDT/16:35 GMT Source: Yahoo Posted By: Alex H

    Cannon Express Inc. (AMEX: AB - news) Chairman of the Board, Dean Cannon announced the results of its 4th fiscal quarter and the 12 months of fiscal 1999 ended June 30, 1999.

    4th Fiscal Qtr. 1999 Revenue $23,758,208 vs. $24,279,922 in 4th Fiscal Qtr. of 1998.
    4th Fiscal Qtr. 1999 Net Income $214,497 vs. $(433,253) (Loss) in 4th Fiscal Qtr. of 1998.
    4th Fiscal Qtr. 1999 Per Share 7 cents vs. (14) Cents (Loss) Per Share in 4th Fiscal Qtr. of 1998.
    Twelve months Fiscal 1999 Revenue $95,212,908 vs. $109,244,998 in the comparable 12 months of Fiscal 1998.
    Twelve months Fiscal 1999 Net Income ($487,384) (Loss) vs. $1,814,587 in the comparable twelve months of Fiscal 1998.
    Twelve months Fiscal 1999 Per share (15) cents (Loss) vs. 56 cents per share in the comparable twelve months of Fiscal 1998.


  • Wells Fargo to Welcome One Millionth Internet Customer
    Time: 11:34 EDT/16:34 GMT Source: Yahoo Posted By: Alex H

    Wells Fargo & Co. today announced an impending milestone as the largest Internet bank in the world by preparing to welcome its one millionth Internet customer this week.

    In celebration of this upcoming event, Dick Kovacevich, president and chief executive officer of Wells Fargo, is announcing the extension of Internet banking services, including bill pay and free Internet banking, to all Minnesota Norwest customers. The program will roll out to all Norwest customers by year end through

  • Electric Mail Announces Launch of new Web-based Email Service
    Time: 11:33 EDT/16:33 GMT Source: Yahoo Posted By: Alex H

    The Electric Mail Company, Inc. (VSE:ELE - news;, a leading email outsourcer providing messaging solutions around the globe, today announced the availability of Electric WebmailTM. Electric Webmail provides organizations of all types with worldwide email access via any browser, using email addresses bearing their corporate or portal domain name. Electric Webmail targets two growing segments of web-based email use: it can exist as a fully functional stand-alone email solution, or work in tandem with a company's existing email service.

    ``Electric Webmail is the next logical phase in the evolution of web-based email,'' states Dr. John Boyce, CTO and co-founder of the Company. ``Our clients want to be able to use their corporate or portal domain name, and they want to be free of advertising and Spam. Many companies don't even allow their remote or mobile employees to use free web mail accounts - it simply doesn't look very professional to the recipient if a message bears the name of an ad-supported free mail service.''

  •, inc. Enters Into an Advertising and Marketing Agreement with MaxPlanet, Corp.
    Time: 11:32 EDT/16:32 GMT Source: Yahoo Posted By: Alex H, inc. (OTC BB:SSCP - news) announced today that it entered into an advertising and marketing agreement with MaxPlanet Corp. (OTC BB:MXNT - news) whereby MaxPlanet will provide Internet banner advertising and multiple links to

    Through this agreement traffic will be directed through MaxPlanet's,, and MaxPlanet-Radio to Stereoscape's web sites:,, and

    David Bannon,'s Vice President of Internet Development stated, ``This agreement with MaxPlanet represents another step toward increasing traffic and sales to our Web Sites. believes that MaxPlanet's commitment will assist into becoming a household name-brand and increase's presence in the online audio, video, home theatre equipment and e-commerce arena,'' he added.

  •, Inc. Reports On Progress With Its SEC Filing
    Time: 11:30 EDT/16:30 GMT Source: Yahoo Posted By: Alex H, Inc. announced today that it has filed its response to the comments issued by the Securities and Exchange Commission regarding its Form 10-SB filing, which became effective on June 15, 1999.

    As of August 6, 1999, FinancialWeb will have a temporary trading symbol of FWEBE. The ``E'' extension to FWEB's symbol is assigned by the NASD as part of a new rule designed to limit quotations on the OTCBB to the securities of companies that report under the Securities Exchange Act of 1934. The rule is being phased in between July 1999 and June 2000. FWEB has until September 2, 1999 for its Form 10-SB to clear comments with the SEC. ``We believe we have been fully responsive to the SEC, so we hope to clear comments very shortly '' said Kevin Lichtman, FWEB's President and CEO.

    In connection with the ``Safe Harbor'' provisions of the Private Securities Litigation Reform Act of 1995, the Company wishes to caution readers that this news release contains certain forward-looking statements made by or on behalf of the Company, and that such forward-looking statements involve risks and uncertainties; and as such, could affect actual results and could cause results to differ materially from those expressed in such forward-looking statements. ``Forward-looking statements'' are defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specifically, all statements other than statements of historical facts included in this press release regarding the Company's financial position, business strategy and plans and objectives of management of the company for future operations are forward-looking statements. These forward-looking statements are based on beliefs of the Company's management, as well as assumptions made by the information currently available to the Company's management.

  • Technology Increases Workplace Stress, Tipping the Scales of Work-Life Balance
    Time: 11:29 EDT/16:29 GMT Source: Yahoo Posted By: Alex H

    Technology is a double-edged sword that enhances workplace productivity at the cost of increasing stress on workers, according to a survey released today by Kensington Technology Group, a cross-category leader in the design and manufacture of computer accessories.

    The Kensington Stress & Technology in the Workplace Survey, which queried 501 adult U.S. full-time, traditional and home-office workers, uncovers new statistics on technology's relationship to stress, steps employers are taking to reduce stress, and how stress affects personal lives. The study is part of ongoing work style and workspace research the company conducts to better understand consumer needs.

    The survey found that 55 percent of workers feel more productive at work compared to last year. Nearly half of the workers surveyed, however, say technology increases stress, and 51 percent of them report that the possibility of losing documents due to computer crashes causes them ``a lot'' or ``some'' stress. The demands of e-mail and voicemail have also contributed to an overall increase in stress in the last year, according to the survey.

    ``Adjusting to new technologies -- like the web, networks, personal communications -- that have saturated today's workplace is creating new demands on workers, and that's causing more stress,'' said Odette Pollar, president of Oakland-based Time Management Systems and authority on stress in the workplace. ``The question is, how to make technology work in our favor without compromising our health and well-being.''

    Employers trying to combat effects of workplace stress.

  • Emmy Award Winning Producer Appointed President and CEO of the First 24/7 Live Internet TV News and Knowledge Station
    Time: 11:27 EDT/16:27 GMT Source: Yahoo Posted By: Alex H

    Dynamic (OTC BB: DIMG - news), in a move designed to expand it's A/V DailyNews ( presence with remote Internet TV studios around the world, announced that the board of directors has appointed Stephen Barrett president and CEO of the company and in addition, a new member of the board.

    Stephen Barrett, 31, is responsible for planning and overseeing the company's unique video webcast studios and staff. He is also in charge of developing ongoing programming for the company's new 24 hours a day live webcast news and special video projects which will air exclusively in an Internet environment

    Prior to joining DIMG, Mr. Barrett received an 1999 Emmy in Videography while he was Managing Editor at WFTS Television, an ABC affiliate located in Tampa, Florida where he oversaw a staff of 80 journalists and production staff.

    At WFTS, he directed the launching of several revenue-producing TV specials and segments which significantly increased viewership and advertising revenue, with the newsroom winning most awards in it's market.

  • BancBoston Robertson Stephens Reiterated Buy Rating on DSS
    Time: 11:21 EDT/16:21 GMT Source: Yahoo Posted By: Alex H

    The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271:

    BancBoston Robertson Stephens data storage analyst Dane E. Lewis today reiterated his Buy rating on Quantum's DLT & Storage Systems tracking stock (NYSE: DSS - news). The company, headquartered in Milpitas, Calif., is a leading supplier Digital Linear Tape (DLT) and ATL tape library systems.

    ``We are reiterating our Buy rating on Quantum - DLT & Storage Systems,'' said Lewis. ``We view the recent sell-off of the company's shares as an overreaction to its disappointing June quarter results.

    ``We believe that investor confidence can be regained as early as the September quarter if, as we expect, the company generates our earnings-per-share estimate of $0.34,'' said Lewis. ``We remain confident that the DLT and Storage Systems business will generate 20 to 25 percent year-over-year revenue growth in the foreseeable futures,'' said Lewis.

    ``We are raising our fiscal 2000 and fiscal 2001 earnings-per-share estimates from $1.45 to $1.50 and from $1.79 to $1.80, respectively, reflecting higher gross margin estimates,'' said Lewis. ``The stock is currently trading at a 12.7 times P/E and in our view, is undervalued. We believe a 17 times multiple is attainable in the near-term, and have established a six-month price target of $25.''


  • PC, chips stocks move up in trading
    Time: 11:21 EDT/16:21 GMT Source: Marketwatch Posted By: Alex H

    Hardware stocks rose Wednesday following upbeat earnings from Cisco Systems, while shares of Texas Instruments gained after it was added to Merrill Lynch's Focus 1 list. Cisco said after the closing bell Tuesday that its fourth-quarter pro forma net income totaled $727 million, or 21 cents a share. A year ago, Cisco's operating profit was $525 million, or 16 cents a share, adjusted for two stock splits. Analysts surveyed by First Call expected the company to earn 20 cents per share.

  • IBM, airline industry group team on e-ticketing
    Time: 03:39 EDT/08:39 GMT Source: Posted By: Alex H

    The International Air Transport Association and computer maker IBM tomorrow will unveil a plan to create a system that allows airlines around the world to exchange electronic tickets, the paperless replacement for traditional air tickets. Working with the IATA, International Business Machines will help design the centralized e-ticket system and then develop and manage it. The e-ticketing system will be designed to run on IBM mainframe computers.

    The partners said the new service, built to meet airline industry standards, is expected to significantly expand the acceptance and use of e-ticketing among IATA's 266-member air carriers and within the industry as a whole. Electronic ticketing has taken hold in North America, where a growing percentage of U.S. travelers are choosing them over paper to speed airport check-in procedures and to protect themselves against lost tickets. But the procedure has been slow to take hold among overseas flyers, in part because of the incompatibility of each airlines e-ticketing systems, an IBM spokesman said.

Read more of the past months news in our News Archive for Previous August News.

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