Outsourcing
Press Release, 7/11/02: CSC SIGNS NEW IT OUTSOURCING AGREEMENTS WITH RAYTHEON
EL SEGUNDO, Calif., July 11 -- Computer Sciences Corporation (NYSE: CSC) announced today that it has signed three agreements extending and expanding CSC’s information technology (IT) outsourcing contracts with Raytheon Company. CSC estimates the potential value of the agreements to be $492 million over an eight-year period.
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Business Week, 7/22/02: What's Bugging Big Blue
Investors fear that Corporate America's woes will cast a shadow on IBM's services business
Last year, investors flocked to IBM (IBM ) as a safe haven in the tech downturn. Its stock soared more than 40% during 2001, to close the year at 121. But this year, investors have fled. The company's shares have slid more than 40%, compared with an 11% decline for the Dow Jones industrial average and a 20% drop in the Standard & Poor's 500-stock index. On July 1, IBM stock hit 67.6, its lowest level in four years. It now trades at about 70.
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Microsoft
IDG, 7/11/02: Exchange 2000 to get security sweep fixes
Matt Berger, IDG News ServiceSan Francisco Bureau
Microsoft is planning to release this month the third service pack for its Exchange 2000 server software, which will include fixes for bugs discovered as part of its lengthy review of the software code.
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Economy
The New York Times, 7/11/02: Silicon Valley's New Pessimists Talk of Pain Beyond the PC
By JOHN MARKOFF
Hopes that the second half of 2002 would see the end of technology's business decline seem to be retreating.
Not so long ago, a range of Silicon Valley chief executives were holding out the prospect of a recovery led by purchases of personal computers and other electronic devices. As recently as the beginning of June, the semiconductor giant Intel was telling investors that it expected a "seasonally strong" second half of the year.
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The San Jose Mercury News, 7/12/02: From the valley's view, the future's not as bright
By Jennifer Files
Silicon Valley residents feel far more pessimistic about the local economy than they did in March, according to a survey of regional consumer confidence being released today.
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The Wall Street Journal, 7/12/02: Accenture's Net Grows 9.2% Led by Government Division
Accenture Ltd.'s fiscal third-quarter net grew 9.2%, driven by strength in its government unit and its communications and technology operations.
The consulting firm, officially based in Bermuda, also issued an earnings forecast for fiscal 2002 and 2003 that was in line with current Wall Street expectations.
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The Wall Street Journal, 7/12/02: Microsoft Targets Small Businesses With Customer-Relations Software
By REBECCA BUCKMAN
Microsoft Corp. is pressing ahead with its planned move into business-application software, one of many risky new efforts tied to its purchase last year of Great Plains Software.
At an event Thursday in Silicon Valley, Microsoft showed off a test version of its much-anticipated "customer-relationship management" software, which helps companies monitor customers and track their purchases.
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The San Francisco Chronicle, 7/12/02: McCain takes aim at Silicon Valley
Senator wants to end accounting break for stock options
Carolyn Lochhead, Chronicle Washington Bureau
Arizona Sen. John McCain lashed out at Silicon Valley technology companies Thursday over their use of stock options as a way to boost reported profits.
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