The US Securities and Exchange Commission has charged a former IBM employee and 24 others with insider trading, alleging they made illegal profits of more than $US1.3 million when they were tipped off to IBM's plans to buy Lotus Development in 1995.
Stories by Elinor Mills
Twenty five companies including Compaq Computer, IBM, Sun Microsystems, Cisco Systems and AT&T announced on Tuesday at Networld+Interop the creation of a consortium to promote the application service provider industry.
Bob Finocchio will step down as president and chief executive officer of Informix, but will continue in his role as chairman of the company's board. Replacing him will be Jean-Yves Dexmier, currently executive vice president of worldwide field operations, who was previously Informix's chief financial officer.
IBM's first-quarter earnings per share of $US1.55 beat expectations by 14 cents and were boosted primarily by strong sales in services and software, the company said yesterday.
Internet stocks on US markets took a beating yesterday, with Infoseek down 24.6 percent and Excite down more than 22 percent.
Compaq Computer experienced an earnings shortfall in the first quarter as a result of general industry slowdown and reduced pricing, Eckhard Pfeiffer, chief executive officer of the company, said.
Compaq Computer has successfully ported its Tru64 Unix to Intel's IA-64 pre-silicon software development environment using the Merced architecture.
America Online announced yesterday it would reorganise into four product groups, including one devoted to Netscape Communications Corp.'s operations, and would lay off up to 1000 workers combined at both AOL and Netscape.
Novell on Monday announced the availability of NetWare 5 NFS (Network File System) Services, as well as the opening of beta testing for Novell Directory Services (NDS) version 8.
AT&T and Tele-Communications announced yesterday the completion of their merger in a stock transaction believed to be worth about $US55 billion.
Hitachi Ltd. announced today that it will buy Electronic Data Systems (EDS) Corp.'s stake in Hitachi Data Systems Corp., which was formed by the two firms in 1989 to sell and service Hitachi mainframes and storage products.
The parent Hitachi company will assume full control over Hitachi Data Systems no later than April 21, Hitachi said in a statement. Terms of the agreement were not disclosed.
A California judge has dismissed all damage and fraud claims in year 2000-related lawsuits filed against Intuit in the state during the past year after finding that no damages had occurred to customers, the company announced last week.
Cisco Systems, Network Associates (NAI) and Lucent Technologies have announced the formation of the Security Research Alliance (SRA) aimed at bringing security vendors together to collaborate on projects and look at technology issues emerging over the next two to five years.
Ascend Communications has reported fourth-quarter earnings of $US69.8 million, or 31 cents per share, on revenue of $475.9 million, citing strong sales to service providers of next-generation frame relay and ATM (asynchronous transfer mode) backbone products.
A US Congresswoman will re-introduce a bill this year to eliminate encryption export control while the Clinton administration considers easing export restrictions in areas that play a part in electronic commerce, officials said late last week.