STOCKS TO WATCH: Cisco, Charter, Microsoft, Toys "R" Us, Viant, Ariba
Expect the following issues to be among the most heavily traded on Tuesday: Cisco, Charter, Microsoft, Toys "R" Us, Viant and Ariba.
The network equipment giant's fiscal first quarter report is scheduled for release after market close today. First Call's survey of 34 analysts predicts a profit of 23 cents per share for the October quarter.
Meeting or beating estimates is routine for Cisco, so don't expect any surprises there. But this afternoon's conference call might still be worth hearing, to find out what kind of impact Cisco expects to feel from possible year-end freezes on new equipment spending by corporations and large telecom carriers worried about Y2K.
The fourth largest operator of cable television systems in the United States priced its initial public offering at $19 per share, the top end of its proposed range of $17 to $19.
IPO heavyweight Goldman Sachs leads the underwriting team for Charter, which plans to offer 170 million shares today. The initial public offering should attract investors drawn by Microsoft co-founder Paul Allen's involvement in the deal and the opportunities for cable companies that provide data services.
But the size of the deal may mute the first day run, although pre-offering demand has been heavy, analysts said.
The Wall Street Journal reports that U.S. District Judge Thomas Penfield Jackson has asked attorneys for Microsoft and the government to convene in his chambers next week, but for more than just a scheduling conference about proceedings in the historic antitrust case going forward. (See ZDNN Special Report.)
Citing sources close to the case, the newspaper said the meeting was being conducted to also explore the possibilities of a settlement.
The toy retailer's Internet site had to turn away customers yesterday after a promotion that gave coupons and free delivery resulted in a higher-than-expected surge in online shoppers. Toys ``R'' Us fell 5/16 to 15 3/4 at Monday's close.
The good news is the company saw a big pop in traffic.
The Internet consulting company announced a two-for-one stock split in early February 2000. The company also filed to sell 2.5 million shares, worth $240 million at the current price. Viant fell 4 to 96.
The e-commerce software vendor said Monday it formed an alliance to integrate its solutions with front-office applications made by Siebel Systems (Nasdaq: SEBL). The companies say the partnership will let customers share information between their Ariba eCommerce solutions and Siebel's sales, marketing and customer service systems, integrating the selling, purchasing, delivery and service processes online.