Stocks to watch Friday:
Big Blue's Personal Systems Group is shaving 5 to 10 percent of its 10,000-person workforce, according to a memo sent to PSG employees Wednesday by Executive Vice President Dave Thomas.
The company is also seriously considering pulling out of many retail outlets next year in favor of a major new Web sales push, sources said.
L. Gregory Ballard resigned as president and CEO, effective Oct. 31, the maker of 3D graphics accelerators announced Thursday. The board will launch a search for his successor immediately. Ballard will direct the committee looking for his replacement.
After getting stomped by the market yesterday, this fabless chipmaker could see more action today since it tried to address the rumors buzzing around Wall Street.
The company expects to beat the consensus analyst estimate of 37 cents per share in the fourth quarter. It did lose expected sales for the first quarter, and now expects revenue of $10 million for that period. Robertson Stephens is sticking to its "buy" rating on the stock.
At least seven Internet-related or communications companies priced IPOs last night, with Jupiter probably the best known one. The Internet market research firm set its 3.125 million share IPO at $21 a share. Donaldson, Lufkin & Jenrette leads the underwriting team, which includes Deutsche Banc Alex Brown, Thomas Weisel Partners and DLJdirect.>