Expect the following technology stocks to be among Monday's most actively traded issues: AOL, Iomega, PSI Net and Sun Microsystems.
America Online CEO Steve Case said in a magazine interview on Sunday that the Internet service provider plans to launch a television channel called AOL-TV.
Germany's Focus magazine reported Case as saying AOL planned to offer e-mail and chat-room services over the channel, which would be screened on television and not over the Internet.
Case said AOL was not interested in buying up a German television cable network, which Deutsche Telekom AG is selling off. However, he said it was possible that AOL could participate in a German television deal with media giant Bertelsmann AG, its joint venture partner in AOL Europe.
AOL shares closed off 13/16 to 95 3/16 Friday.
Disk-drive manufacturer Iomega named long-time Chairman of the Board David Dunn as interim chief executive, following Thursday's resignation of Jodie Glore.
In a sudden move late Thursday, Iomega announced that Glore had resigned as president and chief executive officer, effective August 31, citing unspecified personal reasons. He had been with the company 10 months.
Dunn, who will become chief executive on September 1 and will stay in that role until a new CEO is hired, has been Iomega's chairman since 1980. He has also been the managing general partner of Idanta Partners Ltd., a venture capital firm, since 1971.
Iomega has suffered through a period of revolving door management. Glore had replaced James Sierk, an Iomega board member, who had served as interim CEO after Kim Edwards was forced to resign 18 months ago.
Only two weeks ago, the company filled the position of chief financial officer, hiring Philip Husby, formerly of Ogden Corp., a diversified company with aviation, entertainment and energy interests, where he was also chief financial officer.
Iomega closed off 3/16 to 3 7/8 Friday.
The Internet service provideragreed to buy Transaction Network Services Inc. (NYSE: TNI), a provider of data communications and electronic commerce services for $705 million, the Wall Street Journal reported Monday.
The paper said the boards of both companies have approved the deal, which calls for PSINet to pay $45.28 a share in cash and stock, and that an announcement is expected Monday.
Sun Microsystems said Friday the U.S. Army is testing its Jini technology to create mobile command centers for battlefield operations.
Jini, which was unveiled in February, 1998, is technology that Sun has developed to connect disparate devices to a computer network as easily as plugging in a telephone.
Sun said that several army bases in the U.S. are testing Jini to quickly create tactical operation centers which control, execute, and monitor battlefield maneuvers.
The army has a diverse collection of devices and computers, ranging from laptop computers, global positioning systems, printers, servers running both the UNIX and Microsoft's Windows NT operating system and older logistics and radar software systems.
Sun shares closed up 7/8 to 74 1/4 Friday.
Reuters contributed to this report.>