Article Abstract:
The four technology titans are losing their lead over their sectors. The bellwether stocks of Nasdaq, Microsoft, Intel, Cisco Systems and Dell Computer are also losing favor on Wall Street. Their combined stock market value has dropped as a percentage of Nasdaq's value. Revenue growh n their traditional markes is slowng as the high-tech industry rapidly evolves. Many fund managers have dropped the companies from their top holdings, replacing them with faster-growing Internet and communications stocks.
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Article Abstract:
PSINet, a troubled Internet access and Web-hosting firm, appears to be close to its demise after warning that its stock is worthless and that it may file for bankruptcy protection. PSINet is the latest Internet service provider to suffer from the weak economy and the crashing market for high- speed, broadband connections. It was not clear how the company's woes might affect its 20-year, cross-marketing deal with professional football's Baltimore Ravens, the reigning Super Bowl champions.
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Article Abstract:
Online startup EMusic.com is encountering financial problems just one year after its initial public offering on Jun 2, 1999. It has accummulated $100 million in losses and plans to lay off workers to cut costs. Its stock price has also declined from $25 per share in Sep 1999 to around $2. Market capitalization has also fallen below $100 million. Its problems emanate from its business model which is untried in the area of online music.
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