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October 9, 2001 | From Bloomberg News
Trading in Extreme Networks Inc. and Viasource Communications Inc. was halted for about two hours Monday after a fake news release saying Extreme offered to buy Viasource was published on the Internet. The message was posted to Yahoo Inc.'s Viasource bulletin board by an anonymous user. The phony release was made up to look as if it came from PR Newswire and was dated Oct. 9. Yahoo deleted the message after being contacted by PR Newswire, which distributes news releases.
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BUSINESS
October 9, 2001 | From Bloomberg News
Trading in Extreme Networks Inc. and Viasource Communications Inc. was halted for about two hours Monday after a fake news release saying Extreme offered to buy Viasource was published on the Internet. The message was posted to Yahoo Inc.'s Viasource bulletin board by an anonymous user. The phony release was made up to look as if it came from PR Newswire and was dated Oct. 9. Yahoo deleted the message after being contacted by PR Newswire, which distributes news releases.
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BUSINESS
October 18, 2001 | Bloomberg News
Extreme Networks Inc., a maker of computer-network switches, posted a fiscal first-quarter loss as sales declined 9%. The loss was $36 million, or 32 cents a share, compared with net income of $4.53 million, or 4 cents, in the year-earlier quarter. Sales in the period that ended Sept. 30 fell to $108.3 million from $119.3 million. Extreme shares fell $1.67 to $12.20 on Nasdaq. They rose to $12.37 in after-hours trading after the release of the report.
BUSINESS
October 31, 2000 | Bloomberg
Steve Young, the former San Francisco 49ers quarterback and a two-time NFL Most Valuable Player, joined the board of Foundry Networks Inc., a maker of computer-network switches that run the Internet. Young, 39, who retired from football in June after suffering four concussions in the prior three years, is chairman of Found Inc., a closely held provider of services and software for managing retail and manufacturing over the Internet. Foundry shares fell $10 to $65.
BUSINESS
May 8, 2000
* The four-day National Cable Television Assn. conference in New Orleans kicks off today, as top cable TV operators and network equipment providers will rub shoulders with new media upstarts such as Commerce.TV, IBeam Broadcasting and VideoPropusion. America Online President Bob Pittman and Microsoft Chief Executive Steve Ballmer are expected to present competing visions of Internet television, promoters say. On Sunday, WorldGate Communications Inc.
BUSINESS
May 29, 2003 | Phil Milford, Bloomberg News
Lucent Technologies Inc., the biggest telephone equipment maker in the nation, sued California-based rivals Extreme Networks Inc. and Foundry Networks Inc. on Wednesday in federal court in Delaware over five patents for managing communications data. The suit contends that the two companies are making and selling equipment that uses Lucent's patented inventions for organizing voice and data transmissions.
BUSINESS
April 10, 1999 | DEBORA VRANA, TIMES STAFF WRITER
In an innovative first-time stock offering that allowed individual investors to set share prices and buy stock directly online, Ravenswood Winery Inc. of Sonoma's stock rose 38 cents Friday to close at $10.88 in its Nasdaq debut. The initial public offering, or IPO, was priced Thursday night at $10.50 a share and was underwritten by San Francisco investment bank W.R. Hambrecht & Co. through its "OpenIPO" system.
BUSINESS
January 28, 2008 | Martin Zimmerman, Times Staff Writer
Portfolio managers may be dizzy after the recent gymnastics in a market that's had an unhappy new year. That hasn't stopped a few from dumpster diving. The Federal Reserve's big interest-rate cut last week put a shine on at least a few tarnished financial stocks, and selected tech issues are getting some love.
BUSINESS
August 7, 2002 | KAREN KAPLAN, TIMES STAFF WRITER
Computer networking giant Cisco Systems Inc. beat Wall Street expectations Tuesday with strong quarterly profit, but the results don't necessarily mean the beleaguered tech sector has finally glimpsed the light at the end of the tunnel. San Jose-based Cisco said net income for its fiscal fourth quarter ballooned to $772 million, or 10 cents a share, up dramatically from $7 million, or less than a penny a share, in the same period last year.
BUSINESS
January 20, 2000 | From Associated Press
and Bloomberg News America Online Inc., the nation's largest Internet service provider, said its fiscal second-quarter profit beat analysts' forecasts as holiday advertising surged and it gained 1.8 million subscribers. Computer giant IBM Corp., meanwhile, said profit fell 11% and revenue declined 4% in the fourth quarter as sales of business computers were dragged down by uncertainty over the Y2K bug. AOL earned $271 million, or 10 cents a share, in the quarter ended Dec.
BUSINESS
July 21, 2003 | Josh Friedman, Times Staff Writer
Investors are getting used to mixed signals about the health of the economy from Federal Reserve Chairman Alan Greenspan and from government data. And as the second-quarter earnings reporting season enters its busiest stretch, the signs from corporate America aren't much clearer. Overall, results from companies that have reported so far have been better than expected, data show.
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