PSFT - Fiscal 1998 - Discussion for the next year Message Board

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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year

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Oct 29 5:00 PM EST

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To: ratlong who wrote (4118)	1/6/1999 7:50:00 PM
From: Henry Eichorszt	Read Replies (2) of 4509

Shares of PeopleSoft (PSFT:Nasdaq) jumped more than 13% on talk that IBM (IBM:NYSE) would buy the Pleasanton, Calif.-based enterprise software company, says an analyst who asked not to be named and whose firm has no underwriting relationship with PeopleSoft. "That's the rumor going around Wall Street," the analyst says, adding that at this point, he did not want to speculate on whether such a tie-up would even make sense. A spokesman for PeopleSoft says the company does not comment on rumors -- but that didn't stop the Street from taking a gamble. PeopleSoft shares closed up 2 1/2 at 21 11/16 after hitting a daily high of 22 9/16, the highest level since Nov. 19. PeopleSoft shares had been languishing below 20 since early December on forecasts of a sharp slowdown for enterprise software sales in 1999. SEND US FEEDBACK Send your feedback to letters@thestreet.com. © 1999 TheStreet.com, All Rights Reserved.TODAYMARKETSSTOCK NEWSTECH REPORTFUNDS/TAXESCOMMENTARYINTERNATIONALBASICSTALK TSC

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