Slowdown blurs earnings outlook for Nortel, Palm

Article Abstract:

A slowing US economy has forced Nortel Networks and Palm Computing to revise their quarterly earnings forecast. Nortel, the world's biggest provider of telecommunications equipment, said it expects to lose 10 to 12 cents per share during 1st qtr 2001. Its earlier forecast only projected a loss of 4 cents per share. On the other hand, Palm, which manufactures the world's best-selling PDA, could lose 8 cents per share for the current quarter, ending Mar 2, 2001. The company said domestic sales were down by 15% while international sales were off by 1%.

Telecommunications Equipment, Communications Equipment Manufacturing, Telecommunications systems, Nortel Networks Corp., Personal digital assistants

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Compaq quarterly earnings rose 10%

Article Abstract:

Compaq Computer Corp reports that its fourth quarter revenue for fiscal year 2000 rose 10% to $11.5 billion while its quarterly profits increased 55% to $515 million, or 30 cents a share. The computer manufacturer attributed the rise in quarterly earnings to strong foreign sales that outweighed weak domestic sales. Ultimately, however, the company posted a loss of $672 million for the quarter because of a $1.8 billion write-down of CMGI stock.

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IBM to jump on biotech bandwagon

Article Abstract:

IBM will launch a new biotechnology consulting group under its Life Sciences division. The consulting group will work with biotechnology firms in developing customized software that run on the company's computers. The computer giant is also building a new computer that links huge amounts of processing power to relatively small bits of data. The computer will enable the 3-D modeling of proteins, which cannot be done on present-day computers.

Services introduction, International Business Machines Corp.

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