Buyers hungry for Apple shares
Shares of Apple Computer soared to four-year highs Monday after two Wall Street analysts boosted their price targets on the stock.
Piper Jaffray's Gene Munster nearly doubled his target price from $52 to $100 a share on growing demand for Apple's iPods and Macintosh computers. And Fulcrum Global Partners' Robert Cihra raised his target from $53 to $65 because of the success of iPods and the new flat-panel iMac G5s.
Shares of Apple closed the day at $61.35, up $6.18, or 11 percent, on the Nasdaq Stock Market.
Communications
Sunflower Broadband offers Moxi boxes
Sunflower Broadband subscribers now have access to digital boxes providing high-definition television and the ability to record and replay live TV without having to switch machines.
The boxes, Motorola Broadband Media Centers with Moxi, also enable other digital services and are deployed among 240 cable operations who serve more than 1 million customers.
Sunflower agreed to buy the boxes from Diego Inc. in August, making Sunflower the first operator to sign a deal for the system. Sunflower is a division of The World Company, which also owns the Lawrence Journal-World.
A limited number of boxes are available for purchase or rental; monthly service fees vary, depending on a customer's level of service. For more information, call 841-2100.
Sunflower serves Lawrence, Eudora, Tonganoxie, Basehor and the Piper area of Kansas City, Kan., as well as in other parts of Douglas and Leavenworth counties.
Entertainment
Hastings loss narrows
Hastings Entertainment Inc., an operator of stores that sell music, DVDs, books, software and magazines, said Monday that its third-quarter losses narrowed on stronger merchandise sales and fewer pre-opening expenses.
Shares of Amarillo, Texas-based Hastings rose 57 cents, or 8.2 percent, to close at $7.51 Monday on the Nasdaq National Market.
Quarterly losses narrowed to $1.8 million, or 15 cents per share, from a loss of $3.8 million, or 34 cents per share, a year ago.
Telecommunications
Sprint PCS affiliates in merger talks
Alamosa Holdings Inc. said Monday that it made an unsolicited bid for AirGate PCS Inc. worth about $380 million, which would create one of the largest sellers of wireless telephone service under the Sprint brand.
Both Atlanta-based AirGate and Lubbock, Texas-based Alamosa are Sprint PCS affiliates -- companies that have agreed to expand Sprint's network in exchange for the right to use Sprint's spectrum and name.
By combining, the two companies would create "the premier SprintPCS affiliate" with more than 1.25 million subscribers, Alamosa said.
AirGate said it had retained a financial adviser and was "giving this proposal serious consideration."
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