Daily News du lieu suivant : New York, New York • 228

104 THE TICKER Barnes Noble turns loss into a profit Boosted by strong results at its giant bookstores, Barnes Noble recorded operating profits in its latest quarter of $9 million, or 8 cents a share, compared with a loss of $9.68 million, or 8 cents a share, in the year-ago period. Sales in the quarter were $727.17 million, up from $662.5 million. Analysts were expecting a gain of 7 cents a share. The book-selling giant's stock was down yesterday at $24.12. The '99 results exclude a $36 million gain in the quarter that came from the May initial public stock offering of barnesandnoble.com, in which Barnes Noble holds a share, and the partial sale of Chapters.

The figures also exclude a $5 million loss to cover costs associated with Barnes Noble's termination of its planned merger with Ingram Book Group, the nation's No. 1 book wholesaler. Mortgages ease down I Average rates on 30-year fixed mortgages fell below in the latest week to 7.93% after climbing to a more than two-year high the previous week of 8.15%. Fifteenyear mortgages fell to an average of 7.53% from 7.7%, while the one- year adjustable rate mortgage dipped to 6.18% from 6.24%. A year ago, 30-year rates averaged 6.92%, 15-year mortgages were 6.61% and the one-year adjustable was 5.58%.

Analysts said interest rates began falling back with lessening fears of inflation and severe Federal Reserve action. Going the distance Bell Atlantic reportedly will seek Federal Communications Commission approval next month to begin offering long distance services in the state. If okayed, the local carrier would be the first to enter the long distance market and would likely spur local phone competition. It reportedly could begin offering the service before the end of the year. Retreat from Street I Uncertainty about interest rates, an oversupply of IPOs and summer doldrums in the markets continue to force companies to rethink their Wall Street plans.

Telecom services firm Orius, Internet company Bamboo.com and online music network Tunes.com are the latest to postpone initial stock offerings. Their biggest concern was market conditions. Adds up to bigger loss Block's losses grew in its latest quarter from a year ago as North America's largest tax preparation agency spent heavily to expand its tax office network. It reported a net loss from continuing operations of $37.1 million, or 38 cents per share, vs. a loss of $26.5 million, or 25 cents.

The loss was smaller than Wall Street's expected 40 cents a share, and the stock traded up at $56.31. Headed to Houston I Chase said it was closing its equity management department in the city eliminating 32 jobs, as the nation's third largest bank continued to streamline its operations. The $39 billion operation will now be handled completely in Houston. Shares fell 2 to $82.43. BIZNEWS DOW NASDAQ JONES 27.54 36.30 10,963.84 2,621.43 Booming Times Sq.

Boston Properties to build 500M office tower By PETER GRANT Wrestling Federation theme res- power and other incentives. DAILY NEWS BUSINESS WRITER taurant and a night club operat- The project is getting tax Boston Properties has sealed a ed by blues legend B.B. King and breaks because the site is one of deal to build Times Square's lat- the Blue Note jazz club. four targeted by the city and est new office building, a 37-sto- "Times Square is perhaps the state in the 1980s as key to the rery tower that will be the head- greatest example to date of ur- vitalization of 42nd Street. At the quarters for accounting giant ban renais- time, the area was overrun with Ernst Young.

sance," said porn shops and had one of New Construction will begin early REAL Mortimer B. York's highest crime rates. next year on the $500 million Zuckerman, Officials initially granted the of 42nd Street and Seventh Ave- Boston Prop- ance and developer George project at the southwest corner ESTATE chairman of tax breaks to Prudential Insurnue. erties and Klein, who planned to build four Over its 20-year lease, Ernst chairman and towers. But the recession followYoung will pay Boston Proper- co-publisher of the Daily News.

ing the 1987 stock market crash ties more than $1 billion. The project, like the other of- delayed construction. The building will add even fice developments in the area, is Since then, Prudential has more fuel to the Times Square getting government assistance. been selling the sites. Boston development boom.

A few hun- The Boston Properties develop- Properties closed on its location dred feet from the site, Conde ment will save about $160 mil- earlier this week, paying $152.5 Nast has just moved into its new lion in tax payments over 20 million. headquarters, and across 42nd years, according to Boston Prop- Boston Properties also has a Street, the Rudin family is devel- erties senior vice president Rob- contract to buy another site on oping a new U.S. headquarters ert Selsam. "If it were a fully the south side of 42nd Street, befor Reuters. taxed building, we wouldn't be tween Seventh Avenue and Many new restaurants and en- able to rent it," Selsam said.

Broadway. The company hopes tertainment attractions also are The Giuliani administration al- to build a 47-story office buildBoston Properties' Times scrambling to open before New so agreed to give Ernst Young ing once it signs a major tenant, Square venture depicted in Year's Eve, including a World $20 million in tax breaks, cheap Selsam said. computer-generated image. Christmas virus no present to PC users A computer virus timed to dows NT machines, used by structions," said Keith Peer, pres- a business environment." strike Windows PCs on Christ- businesses, as the vi- ident of Medina, Ohio-based Both companies have develmas Day has yet to pose a signifi- does. oped software that detects and cant threat because of its low rus Central Command.

"Unlike the disables the virus. prevalence, but anti-virus soft- "This virus contains lethal in- Chernobyl virus, it can infiltrate The Associated Press ware makers are gearing up to help computer users combat it. The new virus, named is designed to damage Windows 95, Windows 98 and Windows NT machines. The virus overwrites data on hard drives and destroys the memory that stores a computer's setup, sometimes making a computer unbootable. Just two cases of the virus have been detected "in the wild" so far, said Sal Viveros, group marketing manager in the virus defense division of Santa-Clara, Network Associates, maker of the McAfee virus protection software.

Network Associates ranks the virus as a "medium risk" because of its low prevalence. Viveros said Network Associates would upgrade the assessment if more cases of the virus are reported. The virus contains a profane, anti-religious message, Viveros said yesterday. "That could be why it may hit on Christmas," he said. Another maker of virus protection software, Central Command said the virus is more destructive than the Chernobyl virus that recently attacked 300,000 computers in Asia and the Middle East.

That virus did not affect Win- Ice cream kingpins teaming for tasty deal CREAM stle AP Paul Walsh (I.) head of Pillsbury, which makes Haagen-Dasz products, and Joe Weller, head of Nestle, seek bigger bite of sweets market by combining their ice cream operations. PRINT OF THE CITY'S CELIA McGEE IS OFF TODAY.