CDNOW "CLARIFIES,"
STOCK INCHES DOWN
Almost Definitely. We Think.
CDNow shares were 2-9/16 higher in mid-afternoon trading on the NASDAQ. The 111% gain made the stock the market's percentage-gain leader on a day when the composite index had surged by more than 6%. CDNow's trading volume was almost nine times higher than its daily average.
The share price has tumbled from a 12-month closing high of 23-1/4 in July amid concerns that it could be among the first Internet retailers to fall victim to an industry shakeout.
On Friday (6/2), President and Chief Executive jason olim',390,400);">jason olim',390,400);">Jason Olim said CDNow was "...on schedule with our investment process, and we expect to announce a deal with a merger partner/investor" by June 30.
Today, the company ammended Olim's comments with a statement that read in part: "The company has had discussions with five different groups about a possible investment or merger transaction. CDNow has requested final proposals from interested parties... There can be no assurance that proposals will be submitted, or that a transaction will be consummated prior to June 30, or at any time. But it would be nice to have some extra cash for the Fourth of July weekend; my cousin's having a beach party."
THE MUSIC OF CLIVE COMES ALIVE AT CARNEGIE HALL
That's what friends are for. (5/1a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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JAMES KING: THE HITS INTERVIEW (PART ONE)
