NEC shares soar on report of an overhaul; Japanese newspaper says some faltering divisions will be sold
Article Abstract:
Shares of NEC Corp. rose sharply on reports that the Japanese electronics and telecommunications firm is about to enact massive restructuring to consolidate some business units and shed businesses that are operating at a loss. Company executives refused to confirm the report, published in a Japanese newspaper, but they did acknowledge that NEC plans to consolidate all its military-related businesses into a single entity, to be known as NEC Network and Sensor Systems Ltd. The newspaper report said that NEC will shed NEC Home Electronics, and group its other businesses into several companies that will have increased autonomy in decision-making and policy. The fate of loss-making computer-maker Packard Bell remains unclear. NEC has begun writing down its investment in Packard Bell. The newspaper reports that NEC will take a 100 billion yen charge for the restructuring. Today's surge in NEC's stock price demonstrates the market's enthusiasm for the firm's reform plans.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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3Com plans to acquire U.S. Robotics; $6.6 billion stock swap aimed at competitors
Article Abstract:
3Com announced plans to acquire U.S. Robotics, a move which expands the company's production line and strengthens the its position against its competitors. The acquisition involves a $6.6 billion stock swap and will create the world's second-largest computer networking company. When the deal was announced U.S. Robotics stock shares rose 17% to $71.50 and 3Com's stock went up 5% to $41. The agreement calls for U.S. Robotics's stock to be exchanged for 1.75 of 3Com stock, and analysts say the acquisition is closer to a merger of equals. 3Com will benefit by obtaining a full end-to-end solution for networks, which will allow them to compete against Cisco Systems, the computer networking leader. 3Com's chairman and CEO Eric Benhamou will keep his titles and U.S. Robotics' chairman and CEO Casey G. Coswell will be the vice chairman of 3Com's board.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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For Pilot fans, lots of bells and whistles
Article Abstract:
The 3Com/Palm Computing Palm III personal digital assistant (PDA), which superficially resembles a Star Trek flip-top 'communicator,' is an adaptable, powerful electronic organizer. Pilots, including the most recent Palm III version, are popular among consumers, corporate users and programmers. The first Pilot was introduced in 1996, and more than a million have been bought since then. More than 7,000 developers are working on applications for palmtop devices, which means a Palm Pilot can function in a multitude of different ways. Many programs are available for downloading from Web sites. For example, America Online (AOL) includes many Pilot programs in its software libraries.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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