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| internet.com Stock Challenge Winner Racks Up 175.63%
Return In December, Runner-Up Repeats Outstanding Performance
DARIEN, CT - January 6, 2000 -- internet.com (Nasdaq: INTM) http://www.internet.com, the E-Business and Internet Technology Network, today announced the winners of the December 1999 internet.com Stock Challenge. Alexander Rosputko of Virginia earned first place with a total return of 175.64%, and runner up Wei Ooi of New York achieved a total return of 111.08%. Nearly 3,000 players participated in the virtual Internet stock competition. Ooi earned first place last month racking up a return of 90.87%. The monthly internet.com Stock Challenge allows investors to create and monitor simulated portfolios of leading Internet stocks such as Yahoo! (Nasdaq:YHOO), DoubleClick (Nasdaq: DCLK), Amazon (Nasdaq:AMZN) and America Online (NYSE:AOL). Participants create a virtual portfolio based on any stock listed in internet.com's InternetStockList http://www.internetstocklist.com, which participants can buy, sell or short. The participant with the highest total percentage increase in portfolio value for the month wins the $1,500 grand prize. The runner-up receives $500. Free registration and contest information can be found at http://stockchallenge.internet.com. While the January 2000 internet.com Stock Challenge is currently in progress, participants can register for the February competition. Registration will end 11:59 pm eastern time, January 31, 2000. Trading begins on Tuesday, February 1, 2000. Players can trade at any time during the competition period, from February 1 through market close on February 29. The internet.com Stock Challenge is part of internet.com's Internet Stocks Channel/VC http://www.internetstockschannel.com, a leading online source for information about Internet stocks, finance and venture capital. |
DCR Reaffirms Solectron's Ratings and Revises Outlook to
Positive CHICAGO, Jan. 13 -- Duff & Phelps Credit Rating Co. (DCR) has reaffirmed its 'A-' (Single-A-Minus) ratings of Solectron Corporation's (SLR) senior unsecured debt obligations, including some $780 million of zero-coupon senior notes and $150 million of 7-3/8 percent senior notes. At the same time, DCR has revised the Solectron Rating Outlook from Stable to Positive. Solectron is the largest and most profitable contract electronics manufacturer. The contract electronics manufacturing industry is growing faster than 20 percent per year, the result of strong demand for electronics products, the growing trend for original equipment manufacturers (OEMs) to outsource their manufacturing and the broadened range of services contract manufacturers offer. Outsourcing allows the OEM to focus on core competencies, reduce costs, improve asset utilization and reduce time to market by relying on the contract manufacturer's purchasing power, inventory, facilities, global presence and manufacturing systems, technologies and efficiencies. Solectron, with fiscal 1999 (August) revenues of $8.4 billion, has grown an average 42 percent annually over the past five years, a rate not expected to abate as exceptional volumes of OEM outsourcing contracts come up for bid and OEM facilities come up for sale. Solectron's fiscal 2000 revenues should be in the $14.0-14.5 billion range, including the November 30, 1999 acquisition of SMART Modular Technologies, which had fiscal 1999 (October) revenues of $996 million. Solectron's first-quarter fiscal 2000 growth of 29 percent was partially constrained by component shortages that are being addressed with strengthened supplier relationships. DCR's ratings recognize Solectron's continuing opportunities and its record of managing expansion while keeping a conservative financial profile. The ratings also recognize the challenges Solectron faces to maintain margins, cash flow and a solid balance sheet in a competitive environment of rapid growth and change. Solectron has been able to fund its exceptional growth with a combination of internally generated cash, debt and equity financing while managing debt to invested capital adjusted for leases in a narrow range around 30 percent over the past three years. |
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