Expect the following technology stocks to be among Tuesday's most actively traded issues: adam.com, MediaOne and Solectron.
America Online and Time Warner Inc. (NYSE: TWX) should announce Tuesday plans to open their cable television system to other Internet service providers after their proposed merger is completed, the Wall Street Journal reported Tuesday.
The two companies will allow customers to chose their own Internet service provider, and don't plan to set a limit on the number of ISPs that will be allowed to use their cable lines, people familiar with the plan told the Journal.
The Journal said regulators may still find fault with other aspects of the policy, including questioning whether it provides true, nondiscriminatory access to competing Internet companies.
The companies will most likely unveil their agreement before Tuesday's stock market opening, and before the Senate Judiciary Committee begins an afternoon hearing on the deal.
Adam.com shares should get some action Tuesday after it posted a slightly wider-than-expected loss in its fiscal fourth quarter, losing $3.47 million, or 72 cents a share, on sales of $1.26 million.
First Call consensus expected the provider of online medical and health information to lose 70 cents a share.
Including non-recurring charges of $1 million related to stock and compensation transactions, the Atlanta-based firm lost $4.5 million, or 93 cents a share.
Adam.com shares closed off 1 7/16 to 14 13/16 ahead of the earnings report. In December, the company switched its fiscal calendar to conclude on Dec. 31 rather than March 31.
While the quarterly loss was a tad wider than most analysts' predicted, company officials can take solace in the fact that its Internet sales jumped to $519,000 in the quarter, up 185 percent from the year-ago period. Total sales improved to $1.26 million, up from $1.11 million in the same period last year.
The cable television giant posted a fourth-quarter profit of $3.65 billion, or $5.55 a share, including more than $6.3 billion in gains from the sale of its international assets as part of its planned $58 billion takeover by AT&T Corp. (NYSE: T).
In the year-ago quarter it lost $338 million or 58 cents a share.
Its sales improved to $693 million from $643 million in the year-ago period while its operating cash flow increased 18 percent to $783 million.
MediaOne shares closed up 9/16 to 73 5/8.
The developer of software for online banking and financial transactions signed an agreement with Ericsson AB (Nasdaq: ERICY) to develop financial-services software for wireless phones. 724 Solutions rose 19 5/16 to 167 15/16 at Monday's close.
Solectron will be on the move Tuesday after announcing plans to buy Americom Wireless Services, a privately-held handset repair firm.
Financial terms of the deal were not disclosed. The companies expect the deal to close in May 2000.
Americom installs, fixes and refurbishes wireless phones, and provides technical customer support for wireless carriers. Solectron said it would offer jobs to about 1,000 Americom employees across the United States.
Its shares closed down 1 3/8 to 63 Monday.
The maker of software for consumer electronics said it will acquire closely held Embedded Support Tools Corp. for about $315.8 million in stock to gain software tools. Wind River rose 1 1/8 to 50 1/8.