, the biggest maker of the equipment that powers the Internet, closed with a higher stock-market value than
, making Cisco the most valuable company in the world. Cisco ended the day with a market capitalization of $579.2 billion, slightly ahead of Microsoft's $578.2 billion.
Shares of Cisco have continued to climb steadily through the year, gaining one-third in value. Shares of computer software giant Microsoft have languished amid concerns over the government's pending antitrust case, easing 10% from their peak.
Separately, Microsoft made a last-minute offer as mediation talks neared an end in the government's antitrust case against it. The offer would place new restrictions on the software company's conduct, according to published reports. Microsoft executives and
officials are expected to meet separately this weekend with Judge Richard Posner, the mediator appointed by U.S. District Judge Thomas Penfield Jackson.
Offerings and stock actions
said its board approved a 2-for-1 stock split.
said that an advisory panel to the U.S.
Food and Drug Administration
voted not to approve a marketing application for the company's device for testing blood to determine whether someone has congestive heart failure.
said it agreed to pay $1.8 million to
to settle a lawsuit over software licensing. Epicor said the payment will widen its 1999 loss. Accrual for the settlement will be reflected in its 1999 financial results, which will now show a net loss of $50.6 million, or $1.25 a share, compared with the previously reported net loss of $48.8 million, or $1.20 a share.