Unisys’ market capitalization slid by an awesome $2.7 billion on Thursday following a warning from the company that it would declare second quarter earnings of just 18 to 20 cents a share.

Stocks fell in early morning trading on Thursday as company-specific news whipped the technology sector, one day after the Federal Reserve left interest rates unchanged but warned of further rate hikes.

IBM Corp. has filed with the Securities and Exchange Commission to sell 75,000 common shares, valued at $2.6 million, of Red Hat Inc., the Linux operating system and software company.

Disinvestment minister Arun Jaitley has said that the government
will focus on corporatising the Department of Telecom Services by October 1, before considering divesting stake in MTNL and VSNL.

JobStreet.com of Singapore will be the online recruitment channel
for Ma Foi Management Consultants’ new career portal, www.mafoi.com.

IBM has developed ASCI White, a supercomputer with a computing
capacity of 12.3 teraflops, which will be used by the US government to simulate
nuclear weapons tests.

The Kerala IT Department has announced the setting up of FRIENDS—Integrated
Citizen Friendly Counters—for accepting payment of bills.

Deltafax, the satellite-based fax service, will deliver fax
messages anywhere in India within 30 minutes for a flat fee of Rs 15.

A Goldman Sachs report has predicted that Asian e-commerce transactions, excluding Japan, will account for nearly 10% of the forecast global B2B transactions of $4.5 trillion by 2005.

Baan board members have said that the software maker would face
bankruptcy if the takeover bid by Britain’s industrial controls group,
Invensys, did not get shareholder approval.

An IDC India study has predicted a sharp growth in the market for cellular handsets in the current year to 492,600 units valued at Rs 541.8 crore.

Intel Corporation has announced the Intel Pentium 4 processor brand name for its new generation of desktop microprocessors, formerly code-named Willamette.

E-mail service was delayed for millions of ExciteAtHome Corp. and Yahoo customers in recent days due to problems with the technology that supports the services.

Microsoft lashed out at Oracle Corp. over its admission that it hired private detectives to investigate groups supporting Microsoft, saying it could be just one of a string of anti-Microsoft activities.

US stocks rose on Wednesday, though ended off their highs, as the Federal Reserve announced it was leaving interest rates unchanged but indicated it could jack them up again in the near future.

IBM has released its new version of WebSphere, which manages the Web system of a business, and unveiled new products for businesses to run online commerce, wireless operations, manage Web site content and personalize a Web site for users.

The new GSM cell analysis product, Tektronix Cell Analyzer helps
field technicians to check and validate the radio performance of a base station
on any GSM network.

Xerox Modicorp has said it plans to launch a slew of low-end inkjet
printers targeting the small office home office segment later this year.

The Haryana State Electronics Development Corporation has tied up
with Edutech Informatics to set up an Indian Institute of Information Technology in Gurgaon, Haryana.

Complete Business Solutions India plans to invest $15 million in
setting up development centers in Bangalore, Mumbai and Chennai.