Updated from 6:28 p.m.
is trying to go corporate. And why not? Consumers that buy things on Internet auction sites tend to be a bit...uh...frugal, but big corporations still know how to throw around cash. The online Canadian auction house is going after the big money by developing an online auto auction service for
GE Capital Auto Financial Services as part of its effort to shift its clientele from consumers to companies.
Financial terms of the two-year agreement with GE Capital, which offers auto financing for dealers, manufacturers and consumers, were not released.
Right now, Bid.com conducts business-to-consumer auctions at its Web site, selling computer hardware and software, consumer electronics, toys, games, sporting goods, jewelry, memorabilia and travel and entertainment products.
In April, Bid.com struck a deal with GE Capital allowing GE to use Bid.com auction technology to dispose of its assets in exchange for up-front, monthly hosting and transaction fees.
Bid.com is also expanding into Europe by hooking up with a French computer services company that will offer auction services to its clients. Also, Ireland's
Sunday Business Post
said it would offer Bid.com's auction technology to companies looking to liquidate surplus inventories, reported
Today, the Internet company spiked 13/32 or 20% and hopped another 19/32 tonight to 2 31/32 on 107,000
shares. On May 30, the company hit a low of 1 1/2, dropping from its year high of 10 1/16.
rose 11/32 to 3 3/16 after telling CNBC that it expects to close a merger or receive a cash infusion within a month.
to buy from market performer in expectation of a solid June quarter, matching or exceeding consensus estimates.
A kind word from an analyst sent the e-business software company more than 57% higher today, lifting it from its 52-week-low on June 16 of 5 15/16. It lately topped Island with 118,000 shares and a bounce of 11/16 to 14 3/8.
traded higher before its big day. Friday, after the close, the communications chipmaker will replace
wrote about the effect Broadcom's S&P debut will have on Friday's markets.
The California-based company ran up almost 9% today and continued to coast 2 5/16 higher at night to 207, after a brief dip earlier.
hit stock bottom Tuesday to a 52-week-low of 3/8. It edged up 1/16 on Wednesday, finished flat today and revisited its lows tonight. It was down 15/256 to 3/8 on 15,000 Island shares.
The New Jersey-based company makes personal response systems designed to electronically report emergencies requiring medical, fire and police assistance.
However, the company's stock has fallen and can't get up.
attempted to contact the company but there was no response.
, an Internet retailer of personal computers, said it reached an agreement with the
Federal Trade Commission
to create price transparency for PCs.
According to the FTC, the total cost of a computer could be nearly four times greater than the advertised price after hidden costs were added. But now, Value America has agreed to post real, out-of-pocket costs of computers that are sold along with three years of Internet service. Value America was one of three companies that struck that deal with the FTC.
This is a case of bad news in a nice package and investors were not impressed. The FTC assessed no penalties to the company but investors knocked its stock down more than 5% today. At night, bargain hunting prevailed as night owls forgave and bought, lifting Value America shares 1/16 to 1 1/8.
Research in Motion
was frozen by its first-quarter financial results.
The figures were in line with consensus estimates, which were adjusted lower by a previous company warning. First-quarter revenue increased to $27.1 million, up 67% from the previous period a year ago. About half of the company's revenue came from the BlackBerry wireless email service, 25% from the sale of wireless handheld devices and the rest from software and radio modems.
Last year, the company produced a profit and today's flat performance, though expected, was disappointing. The company fell 1 7/8 to 37 on 62,000
Does interactive television mean that when you shout at your television it shouts back?
Actually it means Internet wired television. And though it is not as fun as a TV you could chat with, it is quite popular with cable operators.
makes software that installs Internet application on televisions and other information appliances. Tonight, the California-based company delivered better-than-expected fiscal fourth-quarter results due to increased demand from cable operators. Revenue increased by 78% and losses of 13 cents per share were smaller than the 20-cent loss projected by Wall Street analysts.
The company popped 1 11/16 to 25 1/2 on 13,000 Island shares.
responded to a negative research note out of
Salomon Smith Barney
by saying its inventories at third-party sellers such as retailers, have been low and that there have been no changes to standard price protection terms. A Compaq spokesman said the second-quarter has been very back-end loaded because of supply constraints early in the quarter. Back-end loaded means that the bulk of sales come in toward the end of the quarter.
During the trading session, Salomon Smith Barney released a research note from analyst Richard Gardner, who cut his near-term price target and rating on the stock citing concerns about second-quarter inventories. Gardner said he believes Compaq's channel inventories are the highest among PC vendors and said inventory build-up may have a negative near-term impact on PC margins. The stock was cut to neutral from buy, and its near-term price target slashed to 25 from 45.
Compaq fell 1 to 25 1/2 on more than 1 million Instinet shares.
said it has been informed that the
Securities and Exchange Commission
began an investigation of accounting issues related to the company's Mexico business.
joint newsroom wrote about the
investigation in a separate story.
Xerox shares fell 1 to 18 9/16 on 95,000 Instinet shares.
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explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.