The Federal Communications Commission said Monday it will not take away wireless airwaves used by schools, health care facilities, WorldCom and Sprint for so-called third-generation wireless services.
Yet, the agency said it would expand possible uses for the airwaves in the 2500-2690 megahertz band -- currently used for fixed services -- to include a mobile component so they could be used for 3G services like high-speed Internet access or music and video downloads.
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VeriSign expands: VeriSign is acquiring Illuminet Holdings for $1.2 billion in stock, allowing it to further broaden its communications technology holdings, which include Web identity, authentication and secure payment systems.
VeriSign (VRSN) and Illuminet Holdings (ILUM) said the move will provide new opportunities for combining, and offering wider data and voice services.
Following regulatory and shareholder approval, the companies expect the deal to be completed by early next year.
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Cheaper stocks: Goldman Sachs (GS) chief investment strategist Abby Joseph Cohen recommended that investors add more stocks to their portfolios because shares have become cheaper since last week's declines.
Cohen, an influential Wall Street bull, increased the equity weighting in portfolios to 75 percent from 70 percent, also cut her bond weighting to 22 percent from 27 percent, and maintained a 3 percent weighting in commodities, while keeping cash at zero.
The 15 percent decline last week in stock prices has "further improved equity valuations," Cohen wrote in a note to clients.
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Messaging deal: DeltaThree said it is in the final stages of negotiations to have Microsoft deliver Internet telephone services to consumers using Microsoft Messenger.
In a filing with the Securities and Exchange Commission, DeltaThree (DDDC) said it believes its services will be made available to the public through Microsoft's (MSFT) instant messaging service in the fourth quarter of fiscal 2001, and the agreement should be finalized in the next several weeks.
DeltaThree said its consumer division, iConnectHere.com, will deliver calls from customers' personal computers to any phone number in the world.
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Bailing out: Charter Communications said CEO Jerry Kent will resign effective Sept. 28, after advising the company that he would not extend his employment contract.
Kent, whose contract was due to expire Dec. 23, will remain as a consultant through the end of the year and plans to sell to his interests in Charter Investments to company chairman Paul Allen. Charter Investments holds most of Allen and Kent's stakes in Charter Communications (CHTR).
AP and Reuters contributed to this report.
