The European Community Trade Commissioner Sir Leon Brittan yesterday took the fight to the Americans and protectionist European governments alike, calling for an ambitious global effort to end foreign ownership restrictions in the telecommunications sector, and saying a US offer to strike bilateral deals was inadequate: Sir Leon said the Community should act quickly to […]
The European Community Trade Commissioner Sir Leon Brittan yesterday took the fight to the Americans and protectionist European governments alike, calling for an ambitious global effort to end foreign ownership restrictions in the telecommunications sector, and saying a US offer to strike bilateral deals was inadequate: Sir Leon said the Community should act quickly to end its own restrictions and should aim to match the most ambitious offers that will soon be submitted to World Trade Organisation talks on trade in basic telecommunications.
Software retailer Egghead Software Inc says it expects to take a one-time charge of $6m to $8.0m against its fiscal second and third quarter figures for the year to March 1996, for moving its headquarters to Spokane, Washington to improve customer service, cut operating expenses and realise long term efficiency.
Milpitas, California-based disk drive major Quantum Corp warns that earnings per share for its first fiscal quarter ended July 3 will show a profit but be significantly lower than the $0.42 per share it earned in the March 31 quarter, and sales for the July 3 period will be about 10% below analysts’ estimates of $1,030m, it said; the reduced forecasts are a result of delays in high-end product qualifications and a shortage of components, and it expects earnings for the September quarter to exceed $0.42 a share, but that did nothing to cheer the shares, which fell $3.625 at $22.
Stratus Computer Inc warns that it expects second quarter turnover to fall about 3% from the second quarter of 1994, when the company reported sales of $144.4m: it now expects earnings per share for the second quarter to be in the range of only $0.20 to $0.30 per share, compared with $0.71 per share it saw for the second quarter of 1994; it blamed continuing impact from transition to the new product line, and it now appears that we also had unexpected weak performances in Europe and the Far East, with the exception of Japan, the firm said.
Microsoft Corp shares jumped $4.325 to $108 yesterday in response to the company’s announcement after the market closed on Friday that the final code for its Windows 95 operating system had been sent for duplication and packaging, a process software companies like to think of as manufacturing – which means that the company will be in diffulculties if the anti-trust authorities do order it to remove the Microsoft Network access software; the company was also due to announce its figures late last night; Microsoft has signed duplication and assembly agreements with five production companies, giving it the capacity to package up more than 1m copies of Windows95 a week.
Commenting on its fadeaway figures Boulder, Colorado-based Exabyte Corp says its second quarter earnings were hurt by significantly lower gross margins and the higher cost of Japanese components resulting from the weaker dollar against the yen: while pricing of our core products remained stable, the gross margin level was affected by a number of other factors, the company said.
Avnet Inc is to sell its motor trade parts distribution business to focus on distributing electronic components and computer products.
As well as the 75MHz PowerPC 603-based Performa 5200CD series aimed at the consumer market, (CI No 2,707), Apple Computer Inc has a string of other models; the Performa 6200CD line uses the same 75MHz processor but comes with 8Mb or 16Mb at $2,300 to $3,000, and there is also a 68040-based 631CD at $1,600 to $1,650, a 640CD DOS Compatible with 66MHz 80486 to run Mac and Windows CD-ROMs at $2,300 to $2,350 and a 6116CD at $1,900 to $1,950; the Motion Picture Experts Group media subsystem costs $300.
Bay Networks Inc’s share price was up $3.125 to $45.875 last night ahead of the promised announcement of a joint development and marketing alliance with Microsoft Corp.
Sybase Inc concedes its rebuilding program is taking longer than anticipated, and says earnings for the year will fall below earlier projections of
up to $1.25 a share.
The UK cable television industry has signed up its one millionth connection, the Chapman family from south London, who no doubt would have preferred to win the Lottery, but they do get a million minutes of free cable television rental and free phone line rental for a year.
Packard Bell Electronics Inc has settled a class action suit and could pay more than $2m in customer refunds and personal computer repairs: in the suit, consumers complained the Sacramento company put used or returned parts in computers it sold as new without informing buyers; the $2m estimated amount includes a $1m fund Packard Bell will set up for customers that incurred repair costs on machines that were out of warranty and at least another $1m would cover a six-month service extension Packard Bell will offer on its warranty.
FTP Software Inc, Andover, Massachusetts has joined forces with Open Market Inc to develop Internet server and desktop software, and has also formed several new units to facilitate the new ventures.
BSO/Beheer NV, said to be in talks to merge with the Philips Communications & Processing Services Inc arm of Philips Electronics NV stands out like a beacon on the sea of dull and ordinary companies out there: the Wall Street Journal has been looking at its annual report and finds that it includes an ecological accounting system, which does things like calculate how much ozone is depleted by use of an expanded polystyrene – styrofoam – cup, how an employee’s trip in a plane pollutes the atomosphere, and one item we’re not sure we really want to know, the fact that BSO Origin employees collectively emit about 11 tons of sewage a year…