April 2, 1997 |
FileNet Corp. said Tuesday that it plans to lay off an undetermined number of its 1,650 employees and move a Boston-area subsidiary to Orange County to help offset an anticipated $9-million first-quarter loss. Other expenses, including a $2.5-million to $3-million charge related to the subsidiary relocation, are also expected to dampen second-quarter results.
October 26, 1998 |
Watson Pharmaceuticals Inc., one of the biggest makers of generic drugs, said on Sunday that it will acquire TheraTech Inc., which makes drug-delivery products such as skin patches, for about $300 million, expanding its proprietary drug products. Corona, Calif.-based Watson, which has focused on niche markets such as hard-to-make pharmaceuticals, is trying to expand its line of higher-margin proprietary drugs to boost revenue, which was $338 million in 1997.
December 16, 1997 |
Cisco Systems Inc. on Monday rebounded from early declines as investors concluded that rising inventory didn't signal deeper problems at the world's biggest maker of computer networking equipment. Cisco shares rose 94 cents to close at $77.50 in Nasdaq trading. The San Jose-based networking company's stock fell 7.4% Friday and dropped further during much of Monday before reversing direction amid a flurry of positive recommendations.
May 22, 1998 |
Zapata Corp., a onetime oil driller trying to break into the world of cyberspace, said Thursday it was seeking to buy Excite Inc., a leading Internet company that's five times its size. The offer, worth $1.5 billion in newly issued Zapata stock, was immediately rejected by Redwood City-based Excite and dismissed on Wall Street as unlikely if not impossible.
June 18, 1998 |
Computer-game maker Interplay Entertainment Corp. is sharply scaling back the size of its initial public stock offering. The Irvine-based company, which said in March that it hoped to raise about $72 million in a public stock sale, said it now plans to raise $27 million, according to documents filed Tuesday with the Securities and Exchange Commission. The company said it expects to sell 5 million shares of common stock, down from an original 6.25 million.
April 9, 1998 |
Yahoo Inc. said Wednesday that its first-quarter earnings rose, topping expectations as the No. 1 Internet directory boosted revenue from advertising and electronic commerce. Net income climbed to $4.29 million, or 8 cents a diluted share, contrasted with a pro forma loss of $740,000, or 2 cents, in the year-earlier period. Revenue tripled to $30.2 million, from pro forma revenue of $10.1 million.