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
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Slideshows
Reflections on Tech in 2019
James M. Connolly, Editorial Director, InformationWeek and Network Computing,  12/9/2019
Slideshows
What Digital Transformation Is (And Isn't)
Cynthia Harvey, Freelance Journalist, InformationWeek,  12/4/2019
Commentary
Watch Out for New Barriers to Faster Software Development
Lisa Morgan, Freelance Writer,  12/3/2019
Register for InformationWeek Newsletters
Video
Current Issue
The Cloud Gets Ready for the 20's
This IT Trend Report explores how cloud computing is being shaped for the next phase in its maturation. It will help enterprise IT decision makers and business leaders understand some of the key trends reflected emerging cloud concepts and technologies, and in enterprise cloud usage patterns. Get it today!
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