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GoAmerica surges on H-P deal

GoAmerica built on Monday's gains in after-hours trading after Hewlett-Packard said it will use its wireless Internet access service for its notebook PCs.

GoAmerica (Nasdaq: GOAM) shot up 2 1/8, or 17 percent, to 14 3/4 in Monday's regular trading session before surging to 16 9/16 after the bell.

Hewlett-Packard (NYSE: HWP) shares closed up 2 7/8 to 120 Monday but drifted to 119 9/16 in after-hours trading.

Company officials said the Go.Web service will be available on the entire family of H-P OmniBook and Pavilion notebook PCs and select models of H-P Jornada Handheld PCs.

"We believe that the combination of the GoAmerica Go.Web(TM) wireless Internet access and award-winning HP OmniBook and Pavilion notebook PCs will deliver a simple, single solution to the emerging mobile market," said CEO Aaron Dobrinksy in a prepared release.

GoAmerica shares hit a 52-week high of 18 in April following its less-than-scintillating initial public offering. The stock fell to a low of 5 1/4 earlier this month.

In its fiscal year ended Dec. 31, 1999, GoAmerica posted a loss of $11.5 million on sales of $2.7 million, compared to a loss of $2.6 million on sales of $827 000 in 1998.

All three analysts following the stock rate it either a "buy" or "strong buy."

First Call Corp. consensus expects GoAmerica to lose 25 cents a share in its second quarter and $2.54 a share in the fiscal year.