South Florida Sun Sentinel from Fort Lauderdale, Florida • Page 60

'im 2D Thursday, January 27, 2000 NWS BUSINESS SUN-SENTINEL, SOUTH FLORIDA Market Watch Name to be used only on Web site The MBA Programs of the University of Florida AUTONATION Dow Jones Industrial Average fa pd5t 30 if JtSng Sayj i 1 1 Shouldn't you be here? Uioor 11.900 U.S. Treasury Bonds i i 1 1 1 1 Jj ii.loo -k -4i- 10,900 10,700 LJ 1 1 13 20 27 3 Dc. 1999 I L. 1 10 18 24 Jan. 2000 Develop your leadership potential and i improve your career opportunities by earning your MBA from one of the nation's leading business schools.

It you have at least two years of I professional work experience and want to take your career to a new level, you'll I want to attend our next info session! Florida's next MBA Degree Programs The date of a planned spinoff of the company's auto rental operations has been pushed Details will be available in Late February, company officials said. The move to downplay the AutoNation name is another step away from the original concept of a national network of dealerships united under the AutoNation USA banner. The company closed its AutoNation USA used-car superstores in December, cutting 1,800 jobs, because they were losing money. Now the national network will only exist on the Internet, under the AutoNationDirect.com name. The company said it sold 1 billion in autos over the Internet last year, both at the AutoNationDi-rect and local dealer Web sites.

There are no plans to take down signs that include the AutoNation USA name, Suris said. But when the company unites its South Florida dealerships under one name, as it did in Denver and Tampa, they will probably get a local name, he said. Some of the larger dealership names the company owns here include Maroone, Mullinax and Wallace. Before the earnings announcement Wednesday evening, Auto-Nation's stock fell 31 cents to $7.94. CONTINUED FROM PAGE 1 a telephone conference with stock analysts.

As expected, the company reported that fourth-quarter earnings fell 35 percent because overhead rose and the company closed its used-car superstores. Profit from operations fell to $40.6 million, or 10 cents a share, from $62.6 million, or 13 cents, a year earlier. AutoNation last month had announced that profit would fall to 1 0 cents because overhead was higher than expected. Revenue for the quarter rose 38 percent to $5 billion from $3.6 billion. "The operating results reflect higher overhead, poor superstore performance and a generally soft used-vehicle market," Jackson told the analysts.

Including a $478 million charge to pay for the closing of the used-car superstores, the company lost $279.6 million, or 71 cents per share in the fourth quarter of 1999. While sales of new cars at stores open more than a year rose 8.8 percent in the fourth quarter, used-car sales at the same stores dropped 4.7 percent. Used-car sales have been hampered by discounting and rebates on new cars. 30-year T-bond yield 6.57 1 0-year T-bond yield 6.58 Gold Silver Close Chang Gold, troy ounce $286.5 Silver, troy ounce $5.283 begin in May and August! Please call or e-mail the MBA Programs Office to RSVP if you plan to attend! Toll-free: (877) 435-2622 E-Mail: floridambanotes.cba.ufl.edu Internet: www.floridamba.ufl.edu Rate worries fuel technology selloff Stock prices closed mostly lower Wednesday as investors, fearing an interest rate hike, fled the technology sector despite strong earnings. The technology-driven Nasdaq composite index fell 97.50 to close at 4,069.91.

The Dow Jones industrial average survived a late selloff to close up 3. 10 at 11,032.99. The Standard Poor's 500 fell 5.94 to 1,404.09. WEDNESDAY Avon Products Inc. (AVP) Shares rose $3, or 1 1 percent, to $30.

The direct seller of cosmetics and fragrances was raised to near-term "buy" from near-term "accumulate" by analyst Heather Hay at Merrill Lynch Co. BioShield Technologies Inc (BSTI) Shares rose 1 or 12 percent, to $9.38. The antimicrobial-products company said it received U.S. Environmental Protection Agency approval for an anti-bacterial, anti-fungi compound for consumer use. Compaq Computer Shares fell $4.37, or 13 percent, to $28.63.

The personal-computer maker said fourth-quarter profit fell 56 percent, with sales growth slowing this year. EBay Inc. (EBAY) Shares rose $16.06, or 12 percent, to $153.56. The Internet auctioneer said fourth-quarter profit was 4 cents a share, beating a 2-cent average estimate. McDonald's Corp.

(MCD) Shares fell $4.32, or 1 1 percent, to $35.50. The restaurant chain said fourth-quarter profit rose 40 percent and warned that higher labor costs and slow economies in Brazil and Japan may crimp earnings gains. One-fifth of employees to lose jobs INFORMATION SESSION Thursday February 3, 2000 6:30 8:30 p.m. TheWestin (Ft. Laud.) i-95 Cypress Creek Rd.

East UNIVERSITY OF FLORIDA Education 4th Annual Baltimore Orioles Breakfast Sunday, February 27, 2000 7:00 a.m. -10 a.m. Fort Lauderdale Stadium 5301 N.W. 12th Avenue Cypress Creek Road Fort 1 liHKiercial i. Stadium a 5 4 I Commercial Blvd by a group of minority employees in Atlanta.

Coke estimated the job cuts will save $300 million a year but said earnings would be reduced by $800 million before taxes this year to cover costs of the realignment. Displaced workers will be offered severance packages, outplacement and counseling, Coke said. In 1999, Coke's earnings tumbled 3 1 percent to $2.43 billion, or 98 cents a share, from $3.53 billion, Coca-Cola fell $2.81 to $63.06 a share on the New York Stock Exchange, where almost 1 1.8 million shares changed hands, more than twice the average daily volume for Coke. Tmrfree if.Tunicipal Bonds AMSAC Insured AAAAAA Rated PRICE 100.00 MATURITY ..7139 YIELD TO MATURITY.6.375 cedai rwstors. he feme tat tee bora mav be saed tie He I taum Ta.

As will am mestmert, he ratal value may vary during Ihepenocl I Eric Tiller or Norman Strell I i (800)741-1103 The Tax-Free Income Specialists First Miami I UUU UJSccunties.IncI 1 MEMBER NASDSIPC jjwww.fmsbonds.com NCR Corp. (NCR) Shares rose $3.19, or 8.6 percent, to $40. 1 9. The maker of automated teller machines rose after the company said database and software sales rose 14 percent in the fourth quarter and will increase 20 percent this year. Wave Systems Corp.

(WAVX) Shares rose $2.63, or 2 1 percent, to $15.19. The developer of online commerce and security technology will team with InterVU Int. (ITVU), which provides Internet audio and video services, to offer content providers a way to make money streaming content. TODAY Dell Computer Corp. (DELL) The direct seller of personal computers warned fourth-quarter revenue and earnings won't meet estimates.

It expects to earn 15 cents a share, missing a 2 1 -cent average estimate of analysts surveyed by First Call. Snares fell $1.75 to closing at $40.38. NextCard Inc. (NXCD) The issuer of credit cards on the Internet reported a fourth-quarter loss of 53 cents a share, beating an average 57-cent loss expected by analysts. NextCard rose 94 cents to $29.44.

Bloomberg news and The associated press led by Softbank Corp. and Hutchison Whampoa Ltd. Japan's Softbank, one of the world's largest investors in online businesses, rose 2.3 percent. Hong Kong's Hutchison, whose businesses range from real estate to telecommunications to manufacturing, rose 3.4 percent. Hutchison formed an alliance with Priceline.com, a U.S.-based Internet site allowing consumers to bid for airline tickets and other products, for a similar service in Asia.

Korea's Kospi fell 0.6 percent to 885.54. SK Telecom Korea's largest mobile phone service operator, fell 2.8 percent. EUROPE Stock rose for the second day as takeovers and expanding Internet businesses boosted optimism. Cellular phone giant Vodaf one AirTouch PLC led gains on optimism its bid for Mannesmann AG will succeed. Carrefour SA, France's biggest retailer, advanced after it won European Union approval for its 1 7.2 billion takeover of rival French food store Promodes SA.

Deutsche Telekom AG rose on plans to sell 10 percent of its Internet unit T-Online in mid-April and use the proceeds to expand abroad. The 600-member DJ Stoxx Europe index added 3.52 points to 363.70. BLOOMBERG NEWS World Markets Meet Baltimore Orioles players coaches Bid on Orioles sports memorabilia during a Live Auction Chinese Auction Watch the Orioles practice Tickets: $15.00 (includes tax) Call (954) 761-5813 for Reservations Attendance is limited Orioles Spring Training Tickets Information: (954) 776-1921 Proceeds from the auction benefit: Sun-Sentinel mm COKE CONTINUED FROM PAGE ID For example, employee compensation and benefits work will be contracted out, as will plant and office maintenance. "Everybody's walking around stunned," said Kevin Hundley, a computer programmer in Atlanta who has worked for Coke for 18 months. The company is struggling to improve profits after enduring a string of setbacks during the last 18 months, including a severe economic downturn in Asian markets, a costly product recall in Europe and a discrimination lawsuit filed S.African carrier picks Lauderdale AIRLINE CONTINUED FROM PAGE 1 Verde Islands, Ellinger said.

But a few weeks ago, airline officials changed their minds. "We said we know we can fly to South Florida," Ellinger said. "Why not continue the route the way it is?" The decision then was whether to land in Miami, Orlando or Fort Lauderdale. "Fort Lauderdale came out to be the clear winner," Ellinger said. The Cape Town flight, which arrives at 5:30 a.m., will be the only plane on the ground at that time in Fort Lauderdale and the only international flight to be clearing cus- South African Airways will bring a 377-seat Boeing 747 to Fort Lauderdale three times a week.

toms, Ellinger said. "This is no criticism of Miami, but the service we're going to be able to provide our customers will be far superior to that we now have in Miami," Ellinger said. As part of its move out of Miami, South African Airways had also considered moving its 65-person marketing and reservations office from Fort Lauderdale to Orlando. "I can now say we will be staying here in Fort Lauderdale indefinitely," Ellinger said. The South African Airways plane, which will arrive on Mondays, Thursdays and Saturdays, is only the second Boeing 747 to land regularly in Fort Lauderdale.

Tower Air also uses a 747. The flight between Cape Town and Fort Lauderdale will take 14 hours and 50 minutes, making it one of the longest scheduled international flights in the world. Coach class round-trip tickets, including a Delta Air Lines flight to Atlanta, begin at 1 ,0 1 3, a spokeswoman said. Tom Stieghorst can be reached at tstieghorstfa or 305-810-5008. News in Hosted by: The Baltimore Orioles The City of Fort Lauderdale Parks Recreation Department Baltimore Orioles Host Committee Playoffs Sports Grill LATIN AMERICA Argentine stocks rose for the first time in five sessions as investors bought shares of Telefonica de Argentina SA and Perez Companc SA in the wake of buyout plans.

PC Holdings, which is swapping its stock to gain control of 98 percent of Perez Companc, rose 7 percent. Colombian stocks fell. Medellin's Ibomed index fell 0.4 percent to 12,914.31. Valores Bavaria SA, which controls the country's Bavaria brewery, fell 6.1 percent. Chilean stocks were mixed.

Santiago's IPCA index fell to 103.56. Utility Gener SA rose as much as 6.5 percent, finishing at 2,150 pesos. Declining stocks were led by Laboratorio Chile SA, a pharmaceuticals company, which fell as much as 4.1 percent. CANADA Stocks rose, led by BCE which will spin off 95 percent of its stake in Nortel Networks Corp. to its shareholders.

People familiar with the company told Bloomberg News that BCE planned to give shareholders most of its 39.2 percent stake in Nortel, the country's largest company by market capitalization, and BCE confirmed the plan after the close of trading. BCE's Nortel stake is worth about $54.2 billion. ASIA Internet-related stocks rose, EXCHANGES Take A Good Look At A Kislak National Bank Home Equity Line Of Credit. 7 lO Year Revolving fPSl 5vo Peek into a Kislak National Bank Home Equity Line of Credit. Take advantage of the equity in your home and our competitive rates.

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