Stocks Edging Lower

With all Nasdaq systems ready to go,
stocks appeared to be edging lower for the open Monday.

Primedia Inc.
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has acquired
EMAP’s U.S. magazine unit for $515 million.

Apollo Group
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announced a 3-for-2 stock split of the company’s University of Phoenix Online
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common stock. The split will be in the form of a stock dividend and will take
effect on July 20, 2001.

Internet security company Entrust Inc.
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, was awarded a $17.6 million contract by BCE Nexxia. The contract
calls for Entrust to deliver Internet security as part of the Canadian
government’s “Secure Channel” project.

Delta Airlines
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cut its stake
in Priceline.com
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to 10.2% as the company sold four million share of its holdings in
Priceline.

TMP Worldwide 
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, the
parent company of Monster.com, said it will acquire Hotjobs.com
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in a
deal worth $460 million.

Benchmark Electric
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revised
its earnings outlook for Q2 to fall between 12 cents to 14 cents.

Redback Networks
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will be
implementing an island-wide Synchronous Digital Hierarchy (SDH) optical network
for Taiwan’s Chinese Petroleum Corporation (CPC) after being awarded the
multimillion dollar contract from the company.

Goldman Sachs downgraded
Leggett & Platt
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to Market Perform from Market Outperform.

 

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