STOCK WATCH

Microsoft

Microsoft co-founders Bill Gates and Paul Allen are planning to sell off a total of 2.5 million shares in the Redmond-based company. In a filing with the US Securities and Exchange Commission last week, Gates said he intends to sell 1.5 million shares, worth about $165 million, while in a separate filing, Allen proposed to sell one million shares, worth about $108 million. The two have already sold more than 15 million shares between them in the past three months.

Netscape

Netscape shares increased by 24 per cent in one day after rumours that the browser developer's results for its third quarter, due next week, would be in line with expectations. There was also speculation that it would announce a deal with CitiCorp to provide financial services for the company's Website.

Memory Corporation

Beleaguered chip manufacturer Memory Corporation is expecting to report an operating profit for the first time since it floated on AIM three years ago. The company moved into gross profit for the first time in the first half and expects net profit in the second half.

Perot Systems

Two-time presidential candidate Ross Perot's company, Perot Systems, will go public, with a filing for an IPO last week. The Dallas-based company expects to raise $115 million in an IPO managed by Morgan Stanley Deanwitter. Perot Systems expects to make $1 billion in sales for this year, up from $780 million last year.