SCOC I don't think is near done yet.
Nortel and Oracle in one week, what's next?
chart.bigcharts.com
Software shares account for luster
By Mike Tarsala, CBS.MarketWatch.com
Last Update: 12:27 PM ET Jun 26, 2000
NewsWatch
Latest headlines
NEW YORK (CBS.MW) -- Software issues led the tech sector higher
Monday, as moves by top-tier shares like Oracle brought sheen to the
market amid a lackluster performance by Internet shares.
The tech-heavy Nasdaq Composite rallied into the finish line, adding
66.78 points to end at 3,912.
Within the tech market, the CBOE Software Index ($CWX: news, msgs)
climbed 3.5 percent. Oracle (ORCL: news, msgs) moved up after the
database-software giant introduced software that allows businesses to
more easily link information from different databases, applications and
Internet sites. Shares rose 3 3/16, pushing to 82 11/16.
The new software, dubbed IPortal, works with Sun Microsystems?
(SUNW: news, msgs) Java programming language to group a company?s
important data in easy-to-find places for business computer users. ?It tells
you all the critical information about your business,? Oracle chief Larry
Ellison said in an interview with CBS.MarketWatch.com.
On Wednesday, Oracle may make a related announcement about a move
that would add more software to the portal mix, sources close to the
company said.
Oracle?s gain helped the CBOE Software Index to rise 3.4 percent.
Smaller names led the winners. Portal Software (PRSF: news, msgs) rose
5 7/8 to 54 7/16, while Liberate (LBRT: news, msgs) moved up 2 3/16,
or 9.3 percent, to 25 3/4; New Era of Networks (NEON: news, msgs)
gained 5 5/8, or 16 percent, to 40 5/8; and Broadbase Software (BBSW:
news, msgs) tacked on 7/8 to 26 7/16.
Server-based software company Santa Cruz Operation (SCOC: news,
msgs) spiked 1, or about 15 percent, to 7 3/4. The company announced
its UnixWare 7 NonStop Clusters software. The latest version of its
clustering software adds broader hardware support and added
interconnection features.
Internet shares were mixed. Web-search software specialist Inktomi
(INKT: news, msgs) fell 25 5/16, or 18 percent, to 115 1/16 after Yahoo
(YHOO: news, msgs) said it eventually will drop Inktomi?s search-engine
technology. Instead, Yahoo plans to use Net-navigation software from
Inktomi rival Google.
The Goldman Internet Index (GIN: news, msgs) fell 1.2 percent.
Companies that will help Yahoo to build its corporate service, Critical
Path (CPTH: news, msgs), Tibco Software (TIBX: news, msgs), and
Citrix Systems (CTXS: news, msgs), all rose. Critical Path moved up 4
3/16 to 54 1/8, Tibco jumped 3 29/32 to 93 13/32 and Citrix rose 13/16
to 19 1/2.
Despite its loss of one Yahoo search category to Google, Inktomi?s
software will be at the heart of the Yahoo service announced Monday that
will let companies incorporate their own software and data with Yahoo?s
content and services. Yahoo shares fell 6 to 119 5/16.
In other Internet news, Webvan and HomeGrocer announced that they?re
merging in a $1.2 billion deal that the companies say will create a ?clear
leader? in the crowded online grocery market. Webvan (WBVN: news,
msgs) will pay 1.07605 of its shares for HomeGrocer?s (HOMG: news,
msgs) 138 million shares. Both stocks declined Monday. See full story.
Hardware shares showed strength, as the Goldman Hardware Index rose,
led by IBM (IBM: news, msgs). Big Blue moved up 2 17/32 to 114
13/32. The company announced new technology that effectively doubles
the amount of memory in a computer.
Other hardware stocks rose. Sun Microsystems moved up 3 7/8 to 90
7/16; Hewlett-Packard (HWP: news, msgs) added 2 7/8 to 120. Dell
Computer (DELL: news, msgs) also gained, rising nearly 3.3 percent,
while Gateway Computer (GTW: news, msgs) and Compaq (CPQ: news,
msgs) moved slightly lower, falling 1.5 and 2 percent, respectively.
Chip leader Intel (INTC: news, msgs) dipped 3/16 to 134 3/16 after the
company unveiled three new Celeron processors for personal computers
that sell for less than $1,000.
The Philadelphia Semiconductor Index ($SOX: news, msgs) slipped 0.06
percent, reversing earlier gains. KLA Tencor (KLAC: news, msgs) rose 3
7/8 to 63 1/16; Lattice Semiconductor (LLTC: news, msgs) was propped
up 2 13/16 points to 67 1/2; and Motorola (MOT: news, msgs),
meanwhile, lost 2 3/8 to 30.
Mike Tarsala is a reporter for CBS.MarketWatch.com
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