Expect the following technology stocks to be among Monday's most actively traded issues: AOL, Interspeed and Per-Se Technologies.
America Online should be active Monday after it and merger partner Time Warner (NYSE: TWX) were dealt a blow when regulators said they will delay any action to block the merger for up to three weeks while the companies draft new proposals to address antitrust concerns.
This is the latest of a number of deadlines, although the others have not been publicly announced.
The companies and the regulators have been wrangling over the precise conditions that would allow access to Time Warner's cable pipelines for Internet service providers (ISPs) rivaling AOL.
AOL shares finished off $2.18 to $50.50 while Time Warner lost $2.49 to $76.35.
Interspeed will be hurting Monday after it announced over the weekend that it had restated financial results for the fiscal quarters ending December 31 1999, March 31 2000, and June 30 2000, because certain revenue was recognized incorrectly.
As restated, total revenues for the nine months ended June 30, 2000, were $5.5 million, an $8.7 million reduction from previously reported revenues of $14.2 million for the period, and the net loss for the nine months period was $12 million, a $3.5 million increase from a previously reported loss of $8.6 million for the period.
Further details with respect to each of the affected fiscal quarters will be presented to the Securities and Exchange Commission, the company said.
It comes as no surprise that Interspeed officials said they were aware of some shareholder class action suits against it.
Interspeed shares finished flat to $1.25 Friday.
The clinical software developer will be active Monday after announcing that its president and chief executive Allen Ritchie had resigned from the company and its board of directors, effective immediately.
The company's said its board of directors is due to meet on Nov. 13. Atlanta-based Per-Se gave no reason for the departure and did not specify who would replace Ritchie.
Per-Se shares finished down 31 cents to $3.88 Friday.
Reuters contributed to this report. >