Friday: Microsoft Chooses Cisco as Supplier

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Publish date:

Compiled by John J. Edwards III
Staff Reporter

SKYROCKETING DOW BREAKS 8000! And then doesn't. At least there won't be any gargantuan headlines the next time the blue-chips cross that arbitrarily important barrier. As what turned out to be a down

Dow

week comes to a close, take these post-close items into a restful weekend:

Microsoft

(MSFT) - Get Report

tapped

Cisco

(CSCO) - Get Report

to be a strategic supplier of networking solutions for its worldwide corporate network.

The

Sikorsky

unit of

United Technologies

received a $745.2 million contract to supply 180 UH-60 Black Hawk helicopters to the

Defense Department

.

A judge dismissed most aspects of a racial-discrimination lawsuit against

Morgan Stanley Dean Witter Discover

(MWD:NYSE), ruling that one racially insensitive email message was insufficient evidence of a hostile work environment. The judge said the plaintiffs may refile their complaint by the end of the month, however.

Unicom

(UCM)

reported a second-quarter loss of 8 cents per share, missing the 15-analyst

First Call

consensus estimate of a 13-cent profit and down from the year-ago profit of 47 cents.

Sterling Electronics

(SEC)

reported first-quarter earnings of 21 cents per share, well short of the three-analyst expectation of 33 cents and the year-ago 32 cents.

Texas Regional Bancshares

(TRBS)

reported second-quarter earnings of 62 cents per share, in line with the two-analyst estimate and up from the year-earlier 49 cents.

CMC Industries

(CMCI)

said its earnings for the fourth quarter ending July will fall below the 8 cents per share it earned in the third quarter. The five-analyst estimate for the fourth quarter is 9 cents versus the year-ago 7 cents.

Global satellite communications company

Iridium

(IRIDF:Nasdaq) said

Motorola

(MOT)

lost contact with one of its satellites. Iridium said it will not sustain any financial risk or loss regarding the missing satellite, and the mishap will not affect Iridium's scheduled service date of September 1998.

For information on Friday's market activity, see the

Market Roundup.