May 1-7
A May 1 story,
Fund Openings, Closings, Manager Moves: Franklin Rolls Out Three New Funds, mistakenly stated that the total net assets of the
Ivy International
fund were $38 million. In fact, they are $2 billion. (
corrected May 5
)
An April 4 story,
New Theme for Shareholder Activism: Policing Genetically Modified Food, misstated the source of some data on the segregation of corn and soybean crops. The 2000 data, from a study of 1,200 U.S. processors, was provided by
Pioneer Hi-Bred
. The 1999 data, from a study of 100 Midwestern grain elevators, was provided by
Sparks Cos.
, not Pioneer. (
corrected May 5
)
The May 2
Company Report incorrectly reported that Internet telecommunications provider
Clarent's
(CLRN:Nasdaq) shares dropped 1 to 28 3/4 after it announced plans to acquire
Act Networks
(ANET:Nasdaq). In fact, Clarent shares fell 5 to 69 1/2 that day. (
corrected May 5
)
An April 26 Nothing but Net,
Profit-Taking the Order of the Day as Nasdaq Slumps, incorrectly reported that
F5 Networks
(FFIV:Nasdaq) matched Wall Street estimates with a second-quarter loss of 18 cents a share. In fact, F5 reported a profit of 18 cents for the quarter, matching estimates. (
corrected May 5
).
A May 4 story,
Warning: Tobacco Shares Best Suited to Industry Loyalists, incorrectly reported that
R.J. Reynolds
(RJR:NYSE) owned an 81% stake in
Nabisco Group Holdings
(NGH:NYSE). In fact, Nabisco Group Holdings holds 81% of
Nabisco Holdings
(NA:NYSE). (
corrected May 5
)
A May 1 story,
SEC Settles Internet Securities-Fraud Case Involving Prisoner, incorrectly reported that the
Securities and Exchange Commission
said Robert Garganese is currently in control of
Genesis Trading
. While Garganese is the president and only employee of Genesis Trading known to the company's lawyer, the SEC didn't state that Garganese has controlled the site since he entered prison. Additionally, the story mistakenly reported that the SEC was involved in charging 13 other daytrading firms. In fact, the SEC wasn't involved in those cases. (
corrected May 4
)
The May 3 Evening Update,
Sapient to Join S&P 500; Microstrategy Revises 1999 Down, incorrectly reported that
Microstrategy
(MSTR:Nasdaq) is based in Vienna, Md. In fact, the company is based in Vienna, Va. (
corrected May 4
)
In a May 3 Buysider column,
My Personal Take on the Buffett Lovefest, the third paragraph misstated the terms of a hidden price increase. The paragraph should have conveyed that after one son marked garments up by 30%, the second marked them down by 20%, resulting in a net price increase. As originally published, the second son's markdown was 30%, which would result in a net decrease. (
corrected May 4
)
The May 4 Herb on TheStreet column,
Why One Longtime Bear (Surprise!) Isn't Bullish on Dell, misstated the date on which
Dell
(DELL:Nasdaq) is scheduled to report first-quarter earnings. The boxmaker is expected to report May 11, not May 1. (
corrected May 4
)
The March 9 Night Watch,
Night Owls Make Money on a Bunch of Geeks, incorrectly reported that
CMGI
(CMGI:Nasdaq) released its second-quarter results prior to the March 9 open. In fact, it released results after the March 9 close. (
corrected May 3
)
In April 27's
First-Quarter Earnings Announcements,
BroadVision's
(BVSN:Nasdaq) first-quarter earnings were listed under "in-line reports" rather than "upside surprises," and
First Call/Thomson Financial's
consensus estimate was reported as 4 cents a share rather than 2 cents. In fact, BroadVision's first-quarter earnings of 4 cents a share beat estimates by 2 cents. (
corrected May 3
)
A May 2 story,
Telefonica Looks to KPN for Future That Is Bright and Orange, mistakenly said the closing price of
KPN
(KPN:NYSE ADR) shares was 11.6 euros. In fact, KPN rose 11.6% to close at 125 euros.
(corrected on May 2)
The disclosure statement at the bottom of the May 2 Jonathan Hoenig column,
Don't Buy the Dips, mistakenly reported that Hoenig's hedge fund held a long position in
Microsoft
(MSFT:Nasdaq) shares and a short position in Microsoft call options at the time of publication. Those positions were held by Hoenig personally, not the hedge fund. (
corrected May 2
)
A May 1 story,
Conseco CEO and CFO Leave With Full Pockets, misstated the decline in the value of
Conseco
(CNC:NYSE) shares purchased by executives using loans from the company. At the end of March, the value of the shares had fallen 62%, not 38%, below the value of the loans. (
corrected May 2
)
The April 28 SiliconStreet.com column,
Enron Online, misspelled the name of the CEO of
Enron Broadband Services
. He is Joe Hirko, not Joe Birko. (
corrected May 1
)
