Advertisement - Click to support our sponsors.
Reported by Star-Bulletin staff & wire
Thursday, July 27, 2000
Intel ends exclusive deal with Rambus
NEW YORK -- Intel Corp., the world's No. 1 computer chip maker, says it is designing a chipset for its upcoming Pentium 4 processors that will support new types of memory technology, ending its exclusive supply relationship with Rambus Inc. Rambus' Nasdaq-traded stock dropped sharply today and yesterday, after Intel's announcement. A Rambus spokesman acknowledged Intel's decision, but said it still is the principal memory design provider for Intel's chipsets.
Starwood's profits beat estimates
WHITE PLAINS, N.Y. -- Starwood Hotels & Resorts Worldwide Inc., the world's largest hotel owner, said second-quarter profit rose 34 percent as occupancy rates rose at its Sheraton hotels. Profit from operations rose to $114 million, or 56 cents a share, from pro-forma profit from operations of $85 million, or 43 cents a year earlier. Revenue rose 19 percent, to $1.15 billion, from $970 million. Starwood spent about $160 million renovating hotels, including improvements in its Sheraton hotel chain, to attract more guests. It raised room prices 7.3 percent at its U.S. hotels to an average daily rate of $154.08 at hotels owned more than a year. The White Plains, N.Y.-based firm's profit beat the 54-cent average estimate of analysts, according to Bloomberg News.
In other news . . .
SAN JOSE, Calif. -- Cisco Systems Inc. agreed to buy NuSpeed Internet Systems Inc. for about $450 million in stock to add products that help companies gain access to stored information more easily.