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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (28096)	1/22/2002 11:29:56 AM
From: Chris	Respond to of 52237

11:06 ET PeopleSoft (PSFT) 33.45 -1.89 (-5.4%): -- Update -- This is not the first time that concerns about accounting at the Momentum unit have been brought to light. On Jan 2, Briefing.com reported a Lehman defense of the stk following a 12/31 Bloomberg article indicating that PSFT might repurchase its Momentum Business Applications unit to avoid paying royalties. Lehman predicted that PSFT was likely to purchase Momentum for about $90 mln within the next few qtrs. Firm did not think there were accounting irregularities and viewed the issue as likely overblown.