BUSINESS NOTES CLASS A WARRANTS' PERIOD EXTENDED.CHATSWORTH - ORA ora (o´rah) pl. o´rae [L.] an edge or margin. ora serra´ta re´tinae the zigzag margin of the retina of the eye. Electronics Inc. announced that it has extended the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of its Class A warrants, which were scheduled to expire on Dec. 31. The Class A warrants entitle those holders to purchase shares of the company's common stock at an exercise price of $5 per share. The extension allows holders the opportunity through June 30, 2001. - Daily News EMusic sues MP3 over copyrights Online music retailer EMusic.com Inc. is suing its Internet rival MP3.com, saying the company violated the copyrights of the independent record labels EMusic represents. EMusic, based in Redwood City Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif., claims MP3.com, based in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , has included songs from independent record labels on its popular streaming audio A one-way audio transmission over a data network. It is widely used on the Web as well as company networks to play audio clips and Internet radio. Computers in home networks stream audio (mostly music) to digital media hubs connected to home theaters. service, MyMP3.com, without first securing a license from the labels. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Consortium buys alcohol business LONDON - Britain's Diageo PLC and Pernod Ricard Pernod Ricard (Euronext: RI) is a French company producing alcoholic beverages. Their most famous product, Pernod Anise (40% alcoholic volume) and Ricard Pastis, are both pastis, and often referred to as simply Ricard or Pernod. SA of France are buying Seagram Co.'s alcoholic drinks business for $8.15 billion in cash, topping a rival's bid for brands that include Chivas Regal Scotch whiskey and Absolut vodka. Diageo, the world's No. 1 spirits company, announced the long-awaited purchase from Seagram's new owner, France's Vivendi Universal SA, on Tuesday. In a struggle of liquor industry titans, the Anglo-French consortium triumphed over a competing offer by Brown-Forman Corp. of Louisville, Ky., and Bacardi Ltd. of Bermuda. A third potential bidder, Allied Domecq PLC, dropped out of the auction last week. - Associated Press SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. losses erase all year's growth DALLAS - The flu sweeping across the telecommunications landscape caught up Tuesday with the industry leader, SBC Communications Inc., erasing all the gains the stock made this year. SBC lowered 2001 earnings growth projections to 11 percent to 14 percent from solidly in the mid-teens, and revenue growth to 8 percent to 9 percent from 10 percent, citing a slew of difficulties: the slowing economy, delayed regulatory approvals, service problems in the Midwest and problems with bringing high-speed Internet access to more consumers. The company said its fourth-quarter earnings outlook remained unchanged at 56 cents to 58 cents a share. - The Dallas Morning News Morgan Stanley earnings down NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - Earnings at Morgan Stanley Dean Witter & Co. came in Tuesday below analysts' expectations for the fourth quarter, but profits at the Goldman Sachs Group Inc. exceeded estimates. Increased competition for merger and acquisition business and stock market volatility took a toll on the results. Morgan Stanley, the No. 2 company worldwide in merger and acquisition activity, said net income for the quarter ended Nov. 30 fell to $1.21 billion, or $1.06 a share, compared with $1.63 billion, or $1.42 a share, a year earlier. Analysts surveyed by First Call/Thomson Financial had expected this year's earnings to be $1.29 a share. Profits at Goldman Sachs, the world leader in mergers and acquisitions, easily surpassed Wall Street's expectations. - Associated Press |
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