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Software king Microsoft (Nasdaq: MSFT) and telecommunications companies AT&T (NYSE: T) and British Telecommunications (NYSE: BTY) have teamed up to develop wireless broadband applications for consumers and businesses. The products will be based on Microsoft's wireless platform and be delivered via AT&T's and BT's networks. More Foolishness
Don't cram for your big date with Regis -- there is a better way to hit the big money... Not all Fools are ready to fall into the Gap... Learn the story behind the swoosh in this Research feature on Nike.
The Union, New Jersey company, which operates 241 stores in 38 states, has been reporting results like this since it went public in 1992. As the leading retailer in a fragmented market, Bed Bath & Beyond has had eight consecutive years of record earnings.
An impressive income statement really shines when it's backed by a solid balance sheet and cash flow statement. Bed Bath & Beyond has no debt, $144 million in cash and equivalents, and generated almost $46 million in free cash flow -- after opening 55 superstores last year. It also generates high returns on equity and investment.
Looking at the stock chart (which is generally a mistake) may leave some investors scratching their heads. The stock is down for the year and went nowhere in 1999. What gives?
In the digital age it's easy to forget that one year is a just a blip in the life of a well-run business. Concerns about interest rates, an overheated economy, and the flight to technology stocks may have clouded the company's short-term record, but Bed Bath & Beyond has generated an average annual return of 33% since 1992 -- excellent returns by any standard.
The key issue for investors is this: Does the company have another eight years of solid growth and performance in it? A Robinson Humphrey analyst estimates that the company can increase its store base 25% for the next few years. Investors should begin their research from there.
Consumer electronics manufacturer Sony (NYSE: SNE) is reorganizing to focus on the growing market for broadband products and communications. As part of the plan, the company is pulling together its three U.S. businesses under a new company called Sony Broadband Entertainment. The company will handle operations of Sony's entertainment, music, and pictures business.
Networking equipment vendor Cabletron (NYSE: CS) plans to cut up to 800 jobs, or 18% of its workforce, Bloomberg reported. Pro forma net income for the fiscal fourth quarter grew 28% to $28.1 million, or $0.15 per diluted share, compared to $22 million, or $0.12 per diluted share, a year ago. The company beat estimates by a penny, according to First Call/Thomson.
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