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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: JLS who wrote (37578)	10/6/2000 9:26:23 AM
From: American Spirit	Respond to of 57584

New Phoenix - IFMX - $15 price target. Business Week. Informix could rebound with Gyenes-Business Week NEW YORK, Oct 6 (Reuters) - Shares of Informix Corp. (NasdaqNM:IFMX - news) could turn around with Chief Executive Peter Gyenes leading the database software maker, according to a Business Week magazine article. Frontier Capital Management has acquired 3.3 million shares ``as a bet on Gyenes, who has a history of turning companies around,'' the firm's T.J. Duncan is quoted as saying in the magazine's Oct 16 issue. Gyenes was named chief executive on July 13, when Jean-Yves Dexmier was fired just over a week after Informix posted weaker-than-expected second quarter results. He had been chairman, president and chief executive at Ardent Software Inc., which was bought by Informix on March 1. Shares of Informix closed at $3-25/32 on Thursday, just above a 52-week low of $3-5/8 and well off a 52-week high of $21-1/4. Federal prosecutors on Thursday indicted a former vice president, Walter Konigseder, for allegedly overstating Informix's revenues and earnings in 1996 and improperly recognising revenue. The shares have lagged below $7 for more than three months. On Sept 19, Menlo Park, Calif.-based Informix cut its third quarter earnings targets and said it would establish two operating companies, focused on database systems and business software and services, as part of a reorganization. According to the article, Duncan sees the database unit worth twice its sales, or about $9 per share, and sees the business software and services segment worth 10 times revenues, or $6 per share. Some insiders have even higher estimates, Business Week said. The article said Chase H&Q's James Pickrel expects the company to post earnings of 17 cents per share in 2000 and 27 cents per share in 2001.