Short Reports

Thu., Oct. 14, 1999

From Staff

Time Warner Inc. reported third-quarter net income of $360 million, bouncing back from a loss a year ago as big gains from cable TV offset weaker results in its music and television studios.

Apple Computer Inc. closed out its fiscal year with an eighth straight quarterly profit, topping Wall Street forecasts that were trimmed after last month’s warning about a chip shortage for the Power Mac G4.

The company reported net income of $111 million, or 63 cents a share, for its fourth quarter ended Sept. 25.

ETrade Group Inc. reported a smaller-than-expected fourth-quarter loss Wednesday as it added 310,000 customers in three months. For the period ending Sept. 30, the nation’s second-largest Internet brokerage behind Charles Schwab reported a loss of $26.7 million, or 11 cents a share, compared with a loss of $15.2 million, or 8 cents a share, for the same period a year ago.

Consolidated Edison Inc. on Wednesday caught up with a week’s worth of rumors and announced it was buying Northeast Utilities for about $3.5 billion in cash and stock. The merger will create one of the largest electric companies in the United States.

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Short Reports

Jesse Tinsley

Jim Meehan

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Rob Curley

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