Short Reports

Wed., Sept. 1, 1999

Briefly

International Business Machines Corp. won a $2 billion contract to supply Cisco Systems Inc. with chips and parts, extending the No. 1 computer maker’s push into the components business.

Apple Computer Inc. unveiled what it called the world’s first desktop supercomputer, its new G4 model for professionals, in an attempt to further extend the company’s technological and financial rebound. The computers, powered by chips made by Apple, Motorola Inc. and IBM, cost between $1,600 and $3,500.

Albertson’s Inc., newly merged with American Stores Co. to become the nation’s second-largest supermarket chain, reported an 8.9 percent increase in second-quarter net income. But the increase to $236 million, or 56 cents per share, was before taking away $464 million in after-tax costs during the quarter associated with the merger with Salt Lake City-based American Stores. Boise-based Albertson’s reported that the result was a $228 million net loss during the three-month period that ended July 29, or 54 cents per share.

America Online Inc., the biggest U.S. Internet service, and eBay Inc. unveiled a new Web site that gives AOL’s more than 18 million members easier access to the No. 1 online auction service.

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Short Reports

Jesse Tinsley

Jim Meehan

Molly Quinn

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