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Monday,
October 25, 1999:
Dell
Computer Corp. outsold longtime leader Compaq Computer Corp. in
the U.S. personal-computer market in the third quarter, according
to studies by two market-research firms.
The studies, to be released later today (Monday,
October 25), show a broad-based boom in PC sales. But the
strongest performer was Dell, which roared to 58% unit-sales
growth in the U.S. segment, boosting its share of that market to
18% from 14% a year earlier, according to International Data
Corp., Framingham, Mass. Compaq, by contrast, saw its unit
shipments rise by 24%, and its market share remained roughly flat at 16%.
The third quarter marks the first time analysts from
either IDC or
Dataquest Inc., a unit of Gartner Group Inc., could remember Dell
seizing the U.S. lead from Compaq, which still is No. 1 on a
global
basis. Still, the results weren't particularly surprising, given
Dell's
global sales momentum and some recent stumbles from Compaq. In
particular, Dell's new position reflects the Round Rock, Texas,
company's dominance of the U.S. corporate PC market, where it has
generally been able to offer lower prices and better service than
Compaq, thanks to its direct-sales model.
Other
Stocks to watch Monday, October 25:
-- The Teamsters union on Sunday launched a
strike against
trucking company Overnite Transportation Co., a subsidiary of
the railroad company Union Pacific Corp. (NYSE:UNP). UP closed
at51-15/16 on Friday.
-- CMGI Inc.'s (NASDAQ:CMGI) AltaVista unit
will unveil a major overhaul, transforming itself into an Internet
portal rich in
features from real-time stock quotes to extensive shopping
directories. The aim is to better compete with Yahoo Inc.
(NASDAQ:YHOO). CMGI closed at 103-1/8. Yahoo closed at 178-1/8.
-- Minnesota Mining and Manufacturing Co. (NYSE:MMM)
reported third-quarter per share earnings of $1.13, compared with
analysts' expectations of $1.06, according to First
Call/Thomson Financial. It closed at 92-9/16.
-- Natural gas company Columbia Energy Group (NYSE:CG)
rejected as inadequate a $6.1 billion takeover bid from utility
NiSource Inc. (NYSE:NI) and opened the door to other bidders.
Columbia closed at 62. NiSource closed at 19-15/16.
-- Interpublic Group (NYSE:IPG) may merge two
of its biggest
agencies, Ammirati Puris Lintas Worldwide and Lowe Group, into
an ad company that would rank as one of the world's largest, the
Wall Street Journal reported. It closed at 40-9/16.
-- Digital Island Inc. (NASDAQ:ISLD) agreed to
merge with
Sandpiper Networks, combining two key players in the emerging
market to expedite delivery of Web content. Digital Island
closed at 23.
-- An investor group including Berkshire
Hathaway Inc.
(NYSE:BRK.A) (NYSE:BRK.B) agreed to buy MidAmerican Energy
Holdings Co.(NYSE:MEC) for $9 billion including debt. It is the
first venture into the energy sector for Warren Buffett's
Berkshire Hathaway. MidAmerican closed at 27-1/4.
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