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BUSINESS NEWS.(TO THE POINT)
FINANCE
Providian cuts 2001, 2002 outlook
Providian Financial sees 2001 profit of $3.20 to $3.25 a share. Analysts expected $3.28. Its old forecast was $3.20 to $3.40. The subprime credit card issuer cited slower consumer sales, softer loan demand and tighter credit. Providian doesn't expect 2002 profit growth to hit its long-term target of 15%. Its shares fell 8.70, or 22%, to 30.36, a 52-week low. Other card stocks fell in sympathy.
MEDIA
AOL Time up on online ad report
A Merrill Lynch report said AOL Time Warner held onto its 44% share of the online ad market in the second quarter. That was up from 33% a year ago. But AOL may have to boost its market share to over 50% in the fourth quarter to meet ambitious 2001 financial targets. Merrill said AOL is sheltered, but not immune to the weak ad market. AOL shares rose 6% intraday but closed up 0.15 to 37.50 as stocks reversed.
Newspaper ad sales, after doing a little better in July, weakened again in August, said Deutsche Banc Alex. Brown. The brokerage said lowered 2001 industry profit estimates may still be too high.
- Deutsche Telekom To Sell Cable TV Business.
- Press release article from: PR Newswire June 21, 2001 700+ words
...June 21 /PRNewswire/ -- Deutsche Telekom (NYSE: DT) today announced...assume control of all of Deutsche Telekom's remaining cable activities...represented by the companies Deutsche Telekom Kabel-Services GmbH...
- Deutsche Telekom's Interest in Global One to be Acquired by France Telecom.
- Press release article from: PR Newswire January 26, 2000 700+ words
- Deutsche Telekom will invest the proceeds from the...Sommer: This is another example of Deutsche Telekom Taking clear strides in positioning...PRNewswire/ -- After negotiations with Deutsche Telekom (NYSE: DT) and Sprint, France...
- Deutsche Telekom Partners With Microsoft to Launch IPTV Services.
- Press release article from: PR Newswire March 21, 2006 700+ words
Agreement Will Provide Deutsche Telekom Customers With a Platform for...PRNewswire-FirstCall/ -- Deutsche Telekom AG has reached agreement with...The contract will enable Deutsche Telekom Group to deliver next-generation...
- Deutsche Telekom and 1GlobalPlace Announce Partnership.
- Press release article from: Business Wire September 30, 2001 700+ words
...Registration in Over 200 ccTLD Extensions to Deutsche Telekom's Enormous Client and Reseller Base Deutsche Telekom (NYSE:DT), Europe's largest...Under the two-year contract, Deutsche Telekom and its subsidiaries, partners...
- Deutsche Telekom and Infonet Services Corp. Finalise Global Communications...
- Press release article from: Business Wire May 9, 2000 700+ words
...Estimated at $1 Billion by Infonet; Deutsche Telekom to Sell Infonet's Full Portfolio...NYSE:IN) (FSE:IN) and Deutsche Telekom (NYSE:DT) have finalised an agreement which allows Deutsche Telekom to sell Infonet's full portfolio...
- Deutsche Telekom AG and Check Point Software Join Forces in Managed Internet...
- Press release article from: PR Newswire October 28, 1997 700+ words
...management solutions, today announced that Deutsche Telekom will standardize on Check Point...Internet, intranets and extranets. Deutsche Telekom, Europe's largest telecommunications...Under the terms of the agreement, Deutsche Telekom and Check Point will collaborate to...
- Deutsche Telekom plots [pounds sterling]18bn takeover of O2.
- Newspaper article from: Sunday Business (London) September 25, 2005 700+ words
...Glover Sep. 25--German phone giant Deutsche Telekom is believed to be plotting a takeover...that a bid is being lined up for O2. Deutsche Telekom, which owns T-Mobile in Germany...expectations were fuelled last week when Deutsche Telekom's chief executive, Kai-Uwe Ricke...
- Deutsche Telekom AG Completes Sale of Further Six Cable Regions to Liberty...
- Press release article from: PR Newswire September 4, 2001 700+ words
...Germany, Sept. 4 /PRNewswire/ -- Deutsche Telekom AG (NYSE: DT) today announced that...companies to Liberty Media Corporation. Deutsche Telekom is selling to Liberty Media its entire...Deutsche Telekoms's Level 4 operator Deutsche Telekom Kabel Services GmbH (DeTeKS). In...