Proxicom of Reston, which builds World Wide Web sites for businesses, said Intel has bought an undisclosed stake in the company. Intel paid $52.38 a share during Proxicom's secondary offering of 3.6 million shares, which went from Oct. 7 to Oct. 14.
Apple Computer reversed a decision to retroactively raise prices on G4 Macintosh computers that customers already had ordered and paid for. Customers who ordered a Power Mac G4 with a 400 Mhz or 450 MHz processor before Wednesday will get the configuration they signed up for at the original price; other customers will pay more. Apple had cited processor shortages as the reason for its "reconfiguration" of the G4 line.
Suntrust Banks sold its personal credit card portfolio to MBNA America Bank in a $1.5 billion deal that includes 1.4 million accounts. Atlanta-based Suntrust will hold on to its business, corporate and purchasing-card portfolios and its Merchant Services lines. Suntrust, with a core business in traditional deposits, predicts a pretax gain of about $300 million in the fourth quarter based on estimated balances as of Oct. 31.
VarsityBooks.com of Washington, which sells college textbooks online, filed with the SEC for an initial public offering. Robertson Stephens is the lead manager of the offering; co-managers are Thomas Weisel Partners; Friedman, Billings Ramsey Group; and DLJdirect.
Caterpillar, the world's largest maker of construction equipment, said third-quarter profit fell 35 percent, to $219 million from $336 million in the same quarter a year ago, because of declining orders for its most profitable equipment, such as mining trucks.