Stocks Edging Lower
With all Nasdaq systems ready to go,
stocks appeared to be edging lower for the open Monday.
Primedia Inc.
(
PRM |
Quote |
Chart |
News |
PowerRating) has acquired
EMAP’s U.S. magazine unit for $515 million.
Apollo Group
(
APOL |
Quote |
Chart |
News |
PowerRating) announced a 3-for-2 stock split of the company’s University of Phoenix Online
(
UOPX |
Quote |
Chart |
News |
PowerRating)
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.
(
ENTU |
Quote |
Chart |
News |
PowerRating), 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
(
DAL |
Quote |
Chart |
News |
PowerRating) cut its stake
in Priceline.com
(
PCLN |
Quote |
Chart |
News |
PowerRating) to 10.2% as the company sold four million share of its holdings in
Priceline.
TMP WorldwideÂ
(
TMPW |
Quote |
Chart |
News |
PowerRating), the
parent company of Monster.com, said it will acquire Hotjobs.com
(
HOTJ |
Quote |
Chart |
News |
PowerRating) in a
deal worth $460 million.
Benchmark Electric
(
BHE |
Quote |
Chart |
News |
PowerRating) revised
its earnings outlook for Q2 to fall between 12 cents to 14 cents.
Redback Networks
(
RBAK |
Quote |
Chart |
News |
PowerRating) 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
(
LEG |
Quote |
Chart |
News |
PowerRating) to Market Perform from Market Outperform.
Â
 Â