What a POS, especially Cowpland.
Globe & Mail headlines this morning in ROB push stock up ~4.
"Corel and Intel discuss alliance
In talks with computer maker to launch cheap line of
PCs that would challenge Microsoft's dominance"
"There are lots of discussions under way," Corel head Michael Cowpland told The Globe and Mail yesterday, just before the start of the Ottawa software maker's annual general meeting. "We've been talking for months."
globeandmail.ca
Then this item from Dow Jones at 12:23
2047 DJ 9-Mar-00 at 12:23:00 20:31 Page 1
DJN =DJ Intel Says No Talks With Corel On Cheap PCs >INTC CORL
Symbol: CORL INTC C/COR
Industry: SEM SOF
Subject: DJN DJWI CRX DJS MMM STK WEI
Market Sector: MMR TEC
Geographic Region: CA CN NME ONT PRM US USW
Product/Service: DCA DCO DCS DSE
By Stuart Weinberg
TORONTO (Dow Jones)--An Intel Corp. (INTC) spokesman said the company isn't in talks with Corel Corp. (CORL) to launch a line of "cheap personal computers," as was reported Thursday in the Globe and Mail.
"There are no discussions about a specific project, such as the one discussed in the Globe and Mail," Intel spokesman Adam Grossberg told Dow Jones.
Grossberg said Intel works with "hundreds and hundreds" of software companies, including Corel, "to make sure that their software runs great on Intel architecture." Aside from that ongoing relationship, there are no projects underway between the two companies he said.
The Globe and Mail report said Corel was in talks with Intel and at least one major computer maker to launch a line of personal computers that would compete with Microsoft Corp. (MSFT).
Corel spokeswoman Catherine Hughes wouldn't confirm or deny the Globe and Mail story, saying only that Intel is one of many companies that Corel is talking to about "a number of different projects." She declined to elaborate
on the nature of the projects.
Shares of Corel are surging Thursday, up 2 1/4, or 16%, to 16 3/8 on about 7.9 million shares on Nasdaq.
Then Cowpland finally retracts at 6:06 PM.
Canadian Company Press Release
COR 2000-03-09 (provided courtesy of Canadian Corporate News.)
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Corel Responds to Globe and Mail article
OTTAWA, ONTARIO--Corel Corporation (NASDAQ: CORL, TSE: COR) wishes to respond to an article appearing in today's Globe & Mail.
Corel has enjoyed a long standing relationship with Intel
Corporation. Since 1997, Corel has optimized its software for Intel's processors. Corel has also included Intel's MMX technology in our flagship WordPerfect office and CorelDRAW graphics suites. In early 1999, we optimized our products for the Pentium III processor chip and are looking with interest to Intel's next generation of processors.
At the same time, Corel is in regular contact with major hardware manufacturers regarding bundling opportunities for Corel's award-winning applications, including Corel LINUX OS and our forthcoming WordPerfect Office for Linux. Corel CEO Michael Cowpland's remarks quoted in yesterday's Globe & Mail were in reference to these general discussions and were not related to any specific deal or ongoing discussions with any particular company.
Loose lips. No wonder the company finds itself in class action suits and Cowpland finds himself facing insider trading charges.
NO CREDIBILITY!!
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