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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year
PSFT 0.00010000.0%Oct 29 5:00 PM EST
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To: AlienTech who wrote (2358)10/2/1998 11:02:00 AM
From: Beltropolis Boy  Read Replies (1) of 4509
 
fwiw, here's a bit more news. i'm not in, simply following this one for sometime, lurking in the shadows. for those with a long-term perspective, this could be a gift.

Peoplesoft Falls on Concerns Over Licenses, Competition
Bloomberg News
October 2, 1998, 7:28 a.m. PT

New York, Oct. 2 (Bloomberg) -- Peoplesoft Inc. shares fell
as much as 27 percent on investor concern the No. 2 maker of
applications software may not be able to sell as many licenses as
expected amid pressure from German rival SAP AG.

Shares of the Pleasanton, California-based company fell 8
1/2 to 24 in midmorning trading of 15.9 million shares, more than
triple the three-month daily average. Earlier, the stock touched
a 52-week low of 23 5/8.

"The overall Enterprise Resource Planning market is slowing
from past years," said Edward McCabe, an analyst with CIBC
Oppenheimer. "There's some concern about slowing license growth
across the board in ERP."

Peoplesoft was downgraded to "neutral" from "strong buy"
by Morgan Stanley Dean Witter & Co. analyst Charles Phillips and
to "market outperform" from "recommend list" by Goldman,
Sachs & Co. analyst Richard Sherlund.
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