Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (62637)	7/26/2002 2:41:24 PM
From: Whiteboy	Read Replies (1) \| Respond to of 208838

The utilities are selling again do you think we go for that 180 this time

To: Softechie who wrote (62637)	7/27/2002 7:04:30 AM
From: puborectalis	Read Replies (1) \| Respond to of 208838

Veritas to build closer IBM, Dell ties By Mike Tarsala, CBS.MarketWatch.com Last Update: 6:56 PM ET July 26, 2002 MOUNTAIN VIEW, Calif. (CBS.MW) -- Signaling rising acceptance of Linux, Veritas will announce Monday new storage software for the open-source operating system that involves a strategic business agreement with IBM, Intel and Dell. Veritas CEO Gary Bloom will announce what the storage software-maker calls a "major " strategic business initiative at an event in New York on Monday. The company said in a statement that executives from IBM (IBM: news, chart, profile) and Intel (INTC: news, chart, profile) will join Bloom in his presentation. Executives from Dell Computer (DELL: news, chart, profile) are also expected to be at the event, according to sources close to the company. Both IBM and Dell are expected to support a version of Veritas' flagship software for Linux on their high-end storage hardware, according to sources. A Linux-based storage package of hardware and software from Veritas and either IBM or Dell could put pricing pressure on storage leader EMC (EMC: news, chart, profile), which offers both storage hardware and software of its own. A spokeswoman for Veritas Software could not immediately be reached for comment on Friday. Veritas shares Friday rose 55 cents to $17.60. Analysts from Credit Suisse First Boston confirmed earlier this week that they expect the Veritas announcement to be about more Linux-based storage products. More software targeting customers that use the Linux operating system could help Veritas decrease its reliance on the market for software that runs on Unix. "We believe the Linux opportunity for Veritas is significant, given Linux servers are expected to cannibalize some Unix market share, and sales of Unix platforms represent 65 percent (or more) of Veritas' revenue," CSFB told clients in a research note. Shares of Veritas Software (VRTS: news, chart, profile) declined 4 percent this week -- in line with a decline for the Goldman Software Index and the tech-heavy Nasdaq Composite. Last week, Veritas' second-quarter net earnings were $26 million, or 6 cents a share. Veritas had lost $129 million in the same period last year, due in large part to investment-related write-offs. Excluding a $35 million accounting adjustment and a $15 million investment loss, the company earned $58.3 million or 14 cents a share, down from $80.5 million, or 20 cents a share, in the same period last year. Analysts surveyed by Thomson Financial/First Call had been expecting, on average, 14 cents per share. Revenue was $364.7 million, down from $390.2 million. Analysts had been expecting revenue of $360.1 million, according to First Call. Sales from license fees dropped 18 percent to $242 million, while services revenue rose 27 percent to $122.8 million. "We're in an extremely solid position, in that we're able to meet our expectations with or without the big deal flow," Bloom said last week in an interview. Mike Tarsala is a San Francisco-based reporter for CBS.MarketWatch.com.