TECH STOCKS: Is That Another Pop We Hear? - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business & Finance
News
7/30/2003
04:57 PM
50%
50%

TECH STOCKS: Is That Another Pop We Hear?

With AOL Time Warner reportedly under SEC investigation, techs hardly had a chance.

A continuing parade of bad news and lackluster earnings reports from tech businesses led all our indexes into the red Wednesday. Much of the losses were prompted by AOL Time Warner's fall of 4.5%, or 72 cents, to $15.17, after the Wall Street Journal reported its AOL unit is under investigation by the Securities and Exchange Commission.

The Nasdaq-100 Index tracking stock fell .7%, or 23 cents, to $31.42, on volume of 54.7 million shares. Red Hat (RHAT) fell 3.4%, or 21 cents, to $6; Amazon (AMZN) fell 1.8%, or 73 cents, to $40.66; Intel (INTC) fell 1.7%, or 41 cents, to $24.49; Microsoft (MSFT) fell .9%, or 24 cents, to $26.23; and Applied Materials (AMAT) fell .7%, or 14 cents, to $19.22.

There were some winners; Siebel Systems (SEBL) rose 1.2%, or 11 cents, to $9.12 points; Dell (DELL) rose 1%, or 34 cents, to $33.13; and Cisco (CSCO) rose .6%, or 12 cents, to $19.28.

Our InformationWeek 100 fell 1%, or 2.53 points, to 252.94; and the Nasdaq index fell .5%, or 9.42 points, to 1,721.95. Less tech-heavy indexes fared a little better, closing essentially unchanged. The Dow fell .05%, just 4.41 points, to 9,200.05; and the S&P 500 fell .2%, or 1.63, to 987.65. Siebel announced today what it believes to be the largest implementation of customer-relationship management software ever. Its eBusiness Applications have been chosen as the core platform technology for a customer-relationship management consolidation initiative by Hewlett-Packard, the company says.

The effort could involve as many 40,000 seats. HP had been using a number of different CRM applications across its business channels, but by using Siebel CRM it will be able to create a unified system that will lead to reduced operational costs, according to Mike Overly, vice president of customer operations for HP Global Operations.

"We estimate that the Siebel deployment will return IT savings in the range of tens of millions of dollars," Overly said.

The effort will consolidate HP's direct and indirect sales channels, which include thousands of direct-sales representatives, marketing professionals, contact-center representatives, and hundreds of thousands of partner resellers, he said.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of IT & Cybersecurity Operations 2020
The State of IT & Cybersecurity Operations 2020
Download this report from InformationWeek, in partnership with Dark Reading, to learn more about how today's IT operations teams work with cybersecurity operations, what technologies they are using, and how they communicate and share responsibility--or create risk by failing to do so. Get it now!
Commentary
The Best Way to Get Started with Data Analytics
John Edwards, Technology Journalist & Author,  7/8/2020
Slideshows
10 Cyberattacks on the Rise During the Pandemic
Cynthia Harvey, Freelance Journalist, InformationWeek,  6/24/2020
News
IT Trade Shows Go Virtual: Your 2020 List of Events
Jessica Davis, Senior Editor, Enterprise Apps,  5/29/2020
Register for InformationWeek Newsletters
Video
Current Issue
Key to Cloud Success: The Right Management
This IT Trend highlights some of the steps IT teams can take to keep their cloud environments running in a safe, efficient manner.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll