Business Desk
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
MERGERS AND ACQUISITIONS
HEWLETT-PACKARD TO BUY MERCURY FOR $4.5 BILLION Hewlett-Packard Co., the world’s second-biggest personal-computer maker, agreed to buy software maker Mercury Interactive Corp. for about $4.5 billion. Mercury shares surged.
Mercury shareholders will receive about $52 a share in a cash tender offer, Palo Alto, Calif.-based Hewlett-Packard said today in a statement. The offer is a 33% premium to Mountain View, Calif.-based Mercury’s closing price.
– Bloomberg News
EARNINGS
AMAZON.COM NET FALLS 58% ON HIGHER TECHNOLOGY COSTS Amazon.com Inc., the world’s biggest online retailer, said second-quarter net income fell on higher technology spending and toy-related costs. Shares dropped 12% as the company reduced its full-year profit forecast. Net income declined 58% to $22 million, or 5 cents a share, from $52 million, or 12 cents, a year earlier, Seattle-based Amazon.com said today in a statement. Revenue rose 22% to $2.14 billion.
– Bloomberg News
UPS FALLS ON 2Q EARNINGS, WEAK GUIDANCE Shares of United Parcel Service Inc. plunged yesterday after the shipping giant reported second-quarter earnings and third-quarter guidance that fell short of Wall Street projections. Shares of Atlanta-based UPS were recently down $11.67, or 14.6%, to $68.33 on heavy volume of 26 million, compared with average daily volume of 2.4 million.
– Dow Jones Newswires
