STOCKS TO WATCH: AOL, AMD, Cisco, CNet, ECI and eBay
Expect the following technology stocks to be among Monday's most actively traded issues: Advanced Micro Devices, AOL, Cisco, CNet, ECI Telecom and eBay.
Phone giant AT&T Corp (NYSE:T) and Internet service provider America Online Inc. (NYSE:AOL) are considering a deal to grant AOL and possibly other ISPs ``enhanced access'' to AT&T cable systems for Internet links, the New York Times reported in Monday's edition.
Citing executives close to the companies, the daily said the companies could be working toward a pact that could diminish the role in the industry of ExciteAtHome (Nasdaq: ATHM), which provides Internet links over cable lines.
AT&T and America Online declined to comment, the paper said. The two companies have feuded over access to cable systems in the past.
The chipmaker will show off its new Athlon 650-megahertz chip Monday, calling it the fastest chip on the market. Of course, unveiling its latest threat to Intel Corp. (Nasdaq: INTC) and being able to manufacture it are two different things.
No less than AMD's future rests on this one chip.
The stock closed up 1 1/4 to 17 3/8 Friday.
Cisco will invest $1.05 billion in a large portion of accounting firm KPMG's global consulting division.
The computer networking concern said Saturday it would buy a 19.9 percent stake in a new business that would be called KPMG Consulting. KPMG would own the remaining 80 percent or so of the company.
Cisco will also provide hardware.
CNet said it's going to waive fees for its online auction service until Aug. 31. The auction site, launched in May, focuses on technology products, including laptops, personal assistants and digital cameras.
Considering the problems experienced by eBay Inc. (Nasdaq: EBAY) Friday, the timing of the announcement couldn't have been any better. Still, this a stock that's been trounced in the past two months along with the rest of the Internet sector.
CNet shares closed off 3 1/2 to 32 3/8 Friday.
Its board of directors said that its subsidiary, ECI Telecom Export, will repurchase up to 3 million shares of ECI common stock. That's generally viewed as a very positive development.
Its shares closed up 1/8 to 31 3/4 Friday. The stock peaked at 45 in March after falling to a low of 19 3/4 in October.
After suffering through a devastating service outage Friday, eBay shares plunged 10 percent to 83 1/4.
Making matters more interesting, eBay will hold its annual analyst conference Monday in San Francisco. You can bet CEO Meg Whitman and Co. spent the bulk of this weekend preparing for the deluge of questions and second-guessing she will face Monday.
Reuters contributed to this report.