Equity Movers: Corel, Exodus, GlobalCenter
Corel, Exodus Communications, GlobalCenter, Sony, Viacom and WebMD are expected to move the markets today.
Corel (CORL): The software maker said it lost 15 cents a share in the third quarter ended Aug. 31, compared with profit of 26 cents in the year-earlier quarter. Analysts surveyed by First Call/Thomson Financial predicted the company would lose 28 cents per share. Shares of Corel rose 9 cents to $3.69.
Exodus Communications (EXDS): The Web hosting company said it will acquire rival GlobalCenter for $6.5 billion in stock. The transaction will be accounted for as a purchase and is expected to close in the first quarter of 2001, the companies said. Shares of Exodus fell $6.56 to $46.69.
GlobalCenter (GBLX): Rival Exodus Communications acquired the Web hosting company today for $6.5 billion in stock. Shares of GlobalCenter's parent company Global Crossing rose 94 cents to $30.81.
Sony (SNE): The Japanese electronic-equipment maker said it will ship fewer of its PlayStation 2 video game consoles than it expected coming into the holiday shopping season. Shares of Sony rose 69 cents to $100.06.
Viacom (VIA): The entertainment company's MTVi Group shelved plans for its IPO and fired 105 workers, or a quarter of its work force. Shares of Viacom were unchanged at $56.56.
WebMD (HLTH):The Internet health care company said today it is cutting about 1,100 jobs by the end of next year, taking a pretax charge of $35 million to $45 million. The company said it expects total annualized savings of about $250 million by the fourth quarter of 2001 in the first phase of a plan to streamline its business. Shares of WebMD rose 50 cents to $11.75.