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Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (5884)	5/22/2002 12:59:45 PM
From: JakeStraw	Respond to of 6974

Software Spending Freeze Seen Lasting to Winter By Diane Hess Staff Reporter 05/22/2002 12:37 PM EDT thestreet.com Nobody expected much software buying by companies in the second quarter, but it's looking increasingly like the whole of 2002 will be a bust, new research indicates. "Our recent IT surveys confirm that the second quarter is shaping up to be another very challenging quarter for tech companies," said Rick Sherlund, Goldman Sachs' software analyst, in a research note. "Also, budgets for the rest of 2002 are not likely to change much from current levels." As a result, Goldman made further reductions to its 2002 and 2003 estimates for 26 software firms. "Survey results and anecdotal data points provide a composite picture of ongoing IT spending constraints and a likely general slower pace of recovery for the industry going through 2003," Sherlund said. The investment bank cut estimates for application vendors and business analytics firms Ariba (ARBA:Nasdaq), Autonomy (AUTN:Nasdaq), Business Objects (BOBJ:Nasdaq), Dassault, Documentum (DCTM:NYSE), FreeMarkets (FMKT:Nasdaq), HNC Software (HNCS:Nasdaq), Hyperion Solutions (HYSL:Nasdaq), Informatica (INFA:Nasdaq), i2 Technologies (ITWO:Nasdaq), Manugistics (MANU:Nasdaq), MatrixOne (MONE:Nasdaq), PeopleSoft (PSFT:Nasdaq), Sage Group, SAP (SAP:NYSE), Siebel Systems (SEBL:Nasdaq), and Vignette (VIGN:Nasdaq). Goldman also pared back forecasts for security software firms CheckPoint (CHKP:Nasdaq), Entrust (ENTU:Nasdaq), Internet Security Systems (ISSX:Nasdaq), Symantec (SYMC:NYSE) and Verisign (VRSN:Nasdaq). And it trimmed its 2002 and 2003 estimates for infrastructure software firms Quest Software (QSFT:Nasdaq), Rational Software (RATL:Nasdaq), Software A.G., and webMethods (WEBM:Nasdaq). Wednesday's survey results follow a poll by Goldman Sachs in March of IT executives. At the time, two-thirds of them said normal technology spending was unlikely to resume until 2003 or beyond. "There has likely been some under spending of IT budgets that will likely persist through the second and third quarter, with the potential for some budget flush in the fourth quarter," Sherlund said.