BUSINESS NOTES.INTEL FIGHTS BACK AGAINST DIGITAL: In a harsh reply to a dissident customer, Intel Corp. hinted it might quit selling computer chips to Digital Equipment Corp. and sued to force the return of microprocessor blueprints crucial to making new Digital computers.The moves Wednesday were a stern counterattack Attacking an attacker. Even though a criminal hacker or other agent is attempting to penetrate a security perimeter or damage systems, the counterattack must not violate applicable laws. by the world's largest chip maker to Digital's lawsuit two weeks ago accusing its supplier of copying Digital technology to monopolize mo·nop·o·lize tr.v. mo·nop·o·lized, mo·nop·o·liz·ing, mo·nop·o·liz·es 1. To acquire or maintain a monopoly of. 2. To dominate by excluding others: monopolized the conversation. the market for PC microprocessors. Intel's action sent Digital's stock tumbling 3.4 percent on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. as investors worried about the potential impact on a company that uses Intel Pentium chips to make most of its personal computers. Intel's chips are the ``brains'' inside 85 percent of the world's PCs. ?13- Associated Press ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. NAMES NEW PRESIDENT: ABC has named Preston Padden as its new network president, grabbing Rupert Murdoch's former U.S. satellite chief just four weeks after he left the Australian media conglomerate. Padden's appointment, announced Wednesday and effective immediately, places the industry veteran in charge of the ABC Television Network's business operations. Padden's May 1 resignation from Murdoch's News Corp., where he was chairman of the nascent U.S. satellite TV business ASkyB, was seen as an early sign of the very public unraveling of Murdoch's plan to merge ASkyB with satellite broadcaster EchoStar. ?13- Associated Press NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on CAN TRADE BY ONE-SIXTEENTHS: The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. has gained government approval to begin trading stocks in minimum increments of one-sixteenth of a dollar, joining the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . Nasdaq, the nation's second-largest stock exchange, and the Securities and Exchange Commission said they believed that adopting the lower minimum increment of 6-1/4 cents - as opposed to the current 12-1/2 cents - would benefit investors. The change was approved by the SEC on Tuesday. It will take effect Monday. ?13- Associated Press SHAREHOLDERS OK DEAN WITTER, MORGAN STANLEY DEAL: Dean Witter Discover & Co. and Morgan Stanley Group Inc. intend to complete their $10 billion merger within days after securing shareholder approval Wednesday for the combination. The combined company by some measurements will surpass Merrill Lynch & Co. as the world's biggest securities company, uniting one of the nation's biggest brokerages with an elite investment bank. Dean Witter's shareholders voted overwhelmingly Wednesday for the merger at the company's annual meeting in Jersey City, N.J. At the same time, Morgan Stanley stock owners cast a similarly resounding re·sound v. re·sound·ed, re·sound·ing, re·sounds v.intr. 1. To be filled with sound; reverberate: The schoolyard resounded with the laughter of children. 2. vote in favor of the deal at a special meeting in New York. The companies said they expect to complete the deal by the end of the month, which concludes Saturday. The required regulatory approvals have been secured, spokesmen for the firms said. ?13- Associated Press SHAREHOLDERS OK REVCO, CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. DEAL: Shareholders of Revco D.S D.S Drainage Structure (flood protection) . Inc. and CVS Corp. have approved a proposed $2.8 billion takeover of Revco that would make the company the nation's second-largest drugstore chain. Revco shareholders voted Wednesday at a special meeting in this Cleveland suburb. Company spokesman Thomas G. Dingledy said 65 percent of the company's 67.5 million shares were voted, and the vote was 92 percent in favor of the deal. CVS shareholders approved the deal in a vote Tuesday at the company's annual meeting in Woonsocket, R.I. The Federal Trade Commission also must approve the deal. |
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