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Vertical Net Inc

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BUSINESS
January 19, 2001 | Bloomberg News
VerticalNet Inc., a manager of Web sites on which companies can buy and sell goods, said it is cutting 150 jobs, or 8% of its work force, and closing some sales offices to reduce costs. The layoffs come 10 days after Joseph Galli, VerticalNet's former chief executive, left to become president and CEO of Newell Rubbermaid Inc. and was replaced by co-founder Michael Hagan. The Horsham, Pa.
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BUSINESS
January 19, 2001 | Bloomberg News
VerticalNet Inc., a manager of Web sites on which companies can buy and sell goods, said it is cutting 150 jobs, or 8% of its work force, and closing some sales offices to reduce costs. The layoffs come 10 days after Joseph Galli, VerticalNet's former chief executive, left to become president and CEO of Newell Rubbermaid Inc. and was replaced by co-founder Michael Hagan. The Horsham, Pa.
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BUSINESS
January 24, 2000 |
Shares of VerticalNet Inc., a manager of Internet sites where businesses buy and sell goods, climbed 30% on Friday after Microsoft Corp. invested $100 million in the company. Shares surged $58.50 to close at $252.06 on Nasdaq after earlier reaching $275, a new high. Microsoft, which bought a 3% stake in VerticalNet, is eager to sell its software to companies doing business on the Web.
NEWS
August 16, 2000
'Conventions have become shows. And there's no place like Hollywood to put on a show.' MARK WALSH, chairman of VerticalNet Inc. * 'I'm sorry to say it, but the big story at the Democratic convention is really influence-buying and -peddling.' SEN. RUSSELL D. FEINGOLD, from his remarks to the DNC * 'I think there was a little bit of preaching to the choir. Of course. But the choir needs to be preached to.' AL FRANKEN, speaking to the Shadow Convention * 'It clears the air. He has said enough.
BUSINESS
December 20, 2000 | Reuters
Converge Inc., an online marketplace founded by Hewlett-Packard Inc. and 14 other technology companies, said it would buy NECX, an electronic components trading exchange owned by VerticalNet Inc. The acquisition is expected to help Converge expand the reach of its online marketplace and further knock down inefficiencies that cost high-tech companies billions each year. Under the terms of the sale, Horsham, Pa.-based VerticalNet will receive $60 million in cash, a 19.
BUSINESS
April 25, 2000 | Edmund Sanders
Escrow.com Inc. is expected to announce today a $30-million investment from high-profile Internet partners such as Softbank Corp. to help it provide a haven for businesses that distrust electronic commerce but still want to buy big-ticket items online. The Santa Ana e-commerce start-up is controlled by title insurance giant Fidelity National Financial Inc. The $30-million endorsement would put Escrow.
BUSINESS
February 2, 2000 | Bloomberg News
Internet brokerage trades rose more than 15% in January over December, giving firms a chance to break fourth-quarter volume records, according to analysts at Hambrecht & Quist and Putnam, Lovell, deGuardiola & Thornton. Still, sparked by concern about increased competition, Internet brokers' share prices have declined, with the Bloomberg U.S. Internet financial services index down 12% last month and 61% since mid-April. . . . VerticalNet Inc.
BUSINESS
March 13, 1999 | Bloomberg News
Wit Capital Group Inc., an online securities firm, said it plans an initial public stock offering in the second quarter of this year. New York-based Wit Capital was started in 1996 by Andrew Klein, after selling shares of his Spring Street Brewing Co. in the first online initial public offering. In the last year, Salomon Smith Barney Inc.'s former vice chairman, Robert Lessin, and other investment bankers joined the company to help build its business.
BUSINESS
August 23, 2000
Thomas P. Donahoe has joined Atairgin Technologies Inc. as executive director of contract and administrative services. He was previously vice president and general counsel at Gensia Pharmaceuticals, and managing director and general counsel of Fisher Scientific. Rob Goshert has been appointed executive director of sales operations. He had held management roles at CIBA-Geigy and Fujisawa Pharmaceuticals. He was also senior director of business development and contract manufacturing at Sicor Inc.
BUSINESS
March 9, 1999 | Bloomberg News
Even the best investments can have unfortunate side effects. CMGI Inc. has enjoyed such big gains on its Internet stock holdings that it could face regulation as a mutual fund, analysts say. Shares of the Internet venture-fund company rocketed 31% on Monday on expectations that two companies it has invested in will sell shares to the public later this year. CMGI stock zoomed $47.50 to a record high of $199.69 in Nasdaq trading.
BUSINESS
October 11, 2001 | From Reuters
Wall Street analysts now expect corporate earnings to drop in the first quarter of 2002, which would extend the current slump in corporate profits to five quarters--the worst such stretch in 30 years. Analysts were projecting a drop of 0.2% in profits for members of Standard & Poor's 500 index for the first quarter as of Wednesday, according to market research firm Thomson Financial/First Call. Previously, analysts were still forecasting that profits would rise by 0.2%.
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