Remedy Taking a hit why? Message Board

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Technology Stocks : Remedy Taking a hit why?

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To: Will Cunningham who wrote (394)	12/23/1997 11:08:00 AM
From: Tassi	of 763

NEW YORK, Dec 23 (Reuters) - Goldman Sachs said on Tuesday it removed shares of Remedy Corp from the firm's recommended list and now rates the stock a market perform. -- Goldman cut its 1997 earnings estimate on Remedy to $0.90 a share from $0.97 a share and its 1998 earnings estimate to $1.25 per share from $1.42 per share. -- Firm said downgrade based on recent announcement that International Business Machines Corp IBM.N would acquire Remedy rival Software Artistry Inc SWRT.O for $200 million. -- Goldman said the acquisition by IBM could delay Remedy's orders and also hurt its business next year. -- Stock fell 8-7/8 to 24 in active trade. REUTERS Rtr 09:56 12-23-97 Copyright 1997, Reuters News Service

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