Friday: Netscape, Oracle Meeting -- What's Up?

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Compiled by John J. Edwards III
Staff Reporter

A mystery meeting leads off our post-close compilation and should have Wall Streeters from Silicon Alley to Silicon Valley buzzing all weekend:

Database-software leader

Oracle

(ORCL) - Get Report

and Internet-browser top dog

Netscape

(NSCP)

said they plan to hold a joint press conference Monday in Redwood Shores, Calif. Netscape President and CEO James Barksdale and Oracle Chairman and CEO Larry Ellison will make a short presentation and will be available for questions between 1:30 p.m. and 2:15 p.m. EDT. The companies provided no further details.

In a blow to Baby Bell

SBC Communications'

(SBC)

plans to expand beyond its region, the

Justice Department

urged the

Federal Communications Commission

to reject the company's bid to offer long-distance service in Oklahoma. The department said local-phone competitors remain at a marked disadvantage in SBC's territory. Under the Telecommunications Act of 1996, opening local markets to competition is a prerequisite for Bell Bells to offer long-distance service.

Riser Foods

(RSR)

reported third-quarter operating earnings of 61 cents per share, up from the year-ago 50 cents and 2 cents better than the

First Call

consensus estimate.

Comsat

(CQ)

approved a tax-free-dividend spinoff of its 80.67% stake in

Ascent Entertainment Group

(GOAL)

.