ExciteAtHome said on Tuesday it would cut 25 percent of its staff and close some operations to save costs as it looks for a way to survive.
The broadband Internet provider (ATHM) said it will close its MatchLogic interactive marketing subsidiary, and "refine" the Excite.com portal.
The planned layoffs, amounting to 500 jobs, will be made over the next three months, it said.
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Bankruptcy looms: Shares of Exodus Communications lost more than half their value in morning trading Tuesday after a report that the troubled company is preparing a bankruptcy court filing.
Shares of Exodus (EXDS) were down 28 cents, or 56 percent, at 22 cents in morning Nasdaq trading after setting an all-time low of 17 cents.
The cash-strapped company could file a petition under Chapter 11 of the U.S. bankruptcy code as early as this week, The Wall Street Journal said, quoting people familiar with the situation.
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AMD layoffs ahead: Advanced Micro Devices said on Tuesday it will cut 2,300 jobs, or about 15 percent of its work force, and shutter two chip-making plants in a bid to cut costs.
Advanced Micro Devices (AMD) said it will close two chip-making plants, Fabs 14 and 15 in Austin, Texas. About 1,000 of the job cuts are associated with closing the plants in Austin. The remainder of the cuts will come from cuts in Penang, Malaysia.
As a result of the moves, AMD said it will take a third-quarter charge of $80 million to $110 million, adding that it expects to save $125 million annually.
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Delisting regulations questioned: The Nasdaq stock market is considering changing its regulations so that companies whose share price has fallen below $1 may not be delisted, sources close to the situation told Reuters Tuesday.
There are around 669 Nasdaq companies trading now below $1 and a number of companies have been delisted this year as the market has fallen sharply.
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Satellite radio: Satellite radio hits the nation's airwaves Tuesday, and the company providing the new subscription service is betting the wide range of programming will be the biggest advance in radio since the onset of the FM band.
XM Satellite Radio (XMSR) will offer 100 channels of varied music and talk, with limited advertising on some channels and no commercials on more than 30 channels.
The company has 1.5 million songs in a digital library to promote in markets ranging from opera to Latin romance. It will cost $9.99 a month.
"We love radio. It's a great medium, but it hasn't seen any sort of technological innovation in 40 years," said Chance Patterson, XM vice president of corporate affairs.
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Confidence falling: U.S. consumer confidence fell sharply in September, suffering its largest one-month drop since October 1990, during the Gulf crisis, according to a survey that captured part of the economic shock from the Sept. 11 attacks on New York City and the Pentagon.
The eroding labor market and weakening business conditions weighed heavily on consumers, the Tuesday report said, threatening to undermine retail spending, one of the few remaining strengths in an economy a majority of economists believe is already in recession.
The Conference Board, a New York-based private business research group, said its monthly index of consumer confidence fell to 97.6 in September, down from 114.0 in August. Wall Street economists had forecast a fall to 105.1.
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Briefly told: Intel appointed Patrick Gelsinger as the first chief technology officer in the company's history.... Expedia announced the launch of sites in Italy and the Netherlands.... Compaq Computer is expected to announce several low-priced service packages, developed primarily for small- and medium-size businesses.
AP and Reuters contributed to this report.
