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Technology Stocks : Corel - Investors with no Humor -- Ignore unavailable to you. Want to Upgrade?

To: A. Reader who wrote (379)	1/29/1998 7:21:00 PM
From: Vanni Resta	Read Replies (1) \| Respond to of 1094

I have to break the rules and post the whole thing because there is no link. TORONTO (Dow Jones)--Corel Corp. (COSFF) chairman, president and chief executive Michael Cowpland said his company hasn't been approached by any potential suitors, and he dismissed rumors of a possible takeover by International Business Machines Corp. (IBM) as "very unlikely." Cowpland said his company hasn't hired an investment adviser to shop Corel around. As for the IBM rumor, allegedly circulating via the Internet, he said: "We've had zero inklings of takeover rumors...You normally hear a few rumblings about activity and we've heard zilch." The troubled software company's shares caught fire this week, and have gained about 42% from last Friday's close of 2.48 in Toronto. Thursday in Toronto, Corel's shares are down 0.22 at 3.53. That's up from their 52-week low in December of 2.05, but still far off the 52-week high of 9.70. The movement in the stock this week followed a New York Times feature story on Monday about Cowpland and Corel. Takeover rumors have also contributed to the rise, according to news reports and analysts. But Cowpland said he thinks the share appreciation has more to do with a new partnership announced with Dragon Systems Inc. to develop speech-enabled technology in Corel's WordPerfect Suite Legal Edition for release in March. "I think (the share appreciation has) more to do with the Dragon software strategic alliance because Dragon has won the best product of the year at COMDEX and swept the awards there...I think that's got a lot to do with it because it is the biggest new feature in word processing since WordPerfect came along." Cowpland also said Corel is on track to deploy a number of new Java technology products and to deploy its new network computers this year. The New York Times article also helped bring some attention to the company, he said. "People have looked at us and said, hey, this is a pretty interesting company." Happy Investing! Vanni