STOCK WATCH

Psion

Psion's shares fell by eight per cent last week after the UK palmtop computer maker warned that its first-half results would be weak because of lower computer sales and investments in its mobile phone venture. The shares, which have more than quadrupled since last June, fell to 815p.

CompUSA

Computer retailer CompUSA last week reported a third-quarter loss of $4.9 million for the three months ended 27 March, compared with net income of $25.4 million in the third quarter of fiscal 1998, after slower-than-expected demand led to aggressive price cuts. Net sales for the quarter increased 16 per cent to $1.69 billion from $1.45 billion a year ago.

barnesandnoble.com

Online bookseller barnesandnoble.com hopes to raise $300 million through an IPO of 25 million class A common shares which the company expects to be priced at between $11 and $13 per share. After the offering, barnesandnoble.com will become a holding company whose only asset will be its roughly 17.9 per cent stake in barnesandnoble.com LLC, the operating company.

Cable & Wireless

Cable & Wireless turned in a profit of £140 million for the year ended 31 March, after recording a loss of £49 million in 1998. Revenue rose 15 per cent to £2.6 billion, but it warned that its spend on digital TV will depress profit next year. C&W, which began commercial trials of its digital cable TV service last week, estimates that 66 per cent of its customers will have digital cable TV by the end of 1999.