Close
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Applications
    • Applications

    Scavengers Slam on the Brakes

    By
    eWEEK EDITORS
    -
    January 29, 2001
    Share
    Facebook
    Twitter
    Linkedin

      Bottom fishing by bargain hunters lifted prices of e-solutions stocks last week, but the buying frenzy appears to have fizzled. Our index, for example, rose 5.6 percent for the week, less than one-third of its gain the previous week.

      “Based on our conversations with investors, there appears to be two very separate outlooks with regard to the [consulting and applications services] sector,” says Michael Sherrick, analyst at Morgan Stanley Dean Witter. “The first believing that the worst is behind us, and the second believing that the worst is yet to come.”

      Investors seem to be rewarding those companies that either have adopted credible plans to restructure their operations or have benefited from new business contracts or partnerships.

      Among the winners in our index last week were MarchFirst, which announced additional cost-cutting measures to achieve $100 million in savings. The company will cut an additional 550 employees on top of the 1,200 already laid off, close offices in Pittsburgh and Montreal, and reduce corporate expenses to about 10 percent of sales.

      Mark Wolfenberger, analyst at Credit Suisse, says MarchFirst has “the necessary ingredients for survival,” but its stock still faces uncertainty in the coming quarters.

      Scient and Viant, also in the midst of major reorganizations, were rewarded by investors last week. Viant is refocusing its efforts on several vertical markets: financial services, media, energy and retail. Scient is rolling out a Preferred Partners Program, awarding better pricing in exchange for a monthly commitment of business.

      Other winners include Computer Horizons, whose wholly owned eB Networks subsidiary was selected as a Cisco Professional Services Partner. The company also appears to be benefitting from an optimistic outlook for IT infrastructure outsourcing, which is “relatively insulated from slowing economic growth and/or temporary IT budget constraints,” says Lehman Brothers analyst Karl Keirstead.

      Cysive advanced, after it announced its new membership in the Intel e-business service program, which provides businesses with a source for standardized e-business solutions. Covad gained, following word of a new partnership with Reliant Energy Communications to offer high-speed Internet access to business customers.

      eWEEK EDITORS
      eWeek editors publish top thought leaders and leading experts in emerging technology across a wide variety of Enterprise B2B sectors. Our focus is providing actionable information for today’s technology decision makers.
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.

      MOST POPULAR ARTICLES

      Latest News

      Zeus Kerravala on Networking: Multicloud, 5G, and...

      James Maguire - December 16, 2022 0
      I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
      Read more
      Applications

      Datadog President Amit Agarwal on Trends in...

      James Maguire - November 11, 2022 0
      I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
      Read more
      IT Management

      Intuit’s Nhung Ho on AI for the...

      James Maguire - May 13, 2022 0
      I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
      Read more
      Cloud

      IGEL CEO Jed Ayres on Edge and...

      James Maguire - June 14, 2022 0
      I spoke with Jed Ayres, CEO of IGEL, about the endpoint sector, and an open source OS for the cloud; we also spoke about...
      Read more
      Applications

      Kyndryl’s Nicolas Sekkaki on Handling AI and...

      James Maguire - November 9, 2022 0
      I spoke with Nicolas Sekkaki, Group Practice Leader for Applications, Data and AI at Kyndryl, about how companies can boost both their AI and...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2022 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×