Reported by Star-Bulletin staff & wire
Tuesday, October 8, 1996
Reported by Star-Bulletin staff & wire
Tuesday, October 8, 1996
Motorola yesterday reported a 58 percent drop in third-quarter earnings, a drop it attributed partly to a recession in the semiconductor industry. Motorola said price drops in cellular telephone and paging businesses also hurt the results.
The company did not specify how many of Motorola's 140,000 would lose their jobs. Motorola stock fell $1.25 per share to close at $48.50 today on the New York Stock Exchange.
The new computers range from workstations starting at about $6,000 to supercomputers costing millions of dollars.
Silicon Graphics said its new O2 workstations have 10 times more computing power than the Indy workstations they replace. The company hopes the machines will attract customers who previously might have bought high-end Macintosh or Intel-based personal computers.
The new computers are based on technology that SGI developed with supercomputer maker Cray Research Inc., which it acquired earlier this year.
American Brands' stock jumped $3.25 a share to close at $47.75 today on the New York Stock Exchange.
The deal involves shedding U.K.-based Gallaher tobacco by giving shares in the operation to American Brands stockholders.