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

To: Alomex who wrote (536)	4/7/1998 7:14:00 AM
From: A. Reader	Read Replies (2) \| Respond to of 1094

COREL SHOWS SIGNS OF LIFE Like Mark Twain, reports of Corel's death may have been greatly exaggerated. ÿThe subject of innumerable rumors in recent months about possible takeover suitors and executive shake-ups and now ignored by many leading investment houses, the Ottawa-based software firm is enjoying a second consecutive week of good news. ÿThe company announced yesterday that PC giant Compaq has agreed to start bundling Corel's WordPerfect Suite 8 software on three of Compaq's Presario models sold in 7,000 Radio Shack outlets across the U.S. ÿThe announcement fell on the same day that Newfoundland Premier Brian Tobin said his government is close to buying Corel software for all of that province's public schools. ÿVisiting the region yesterday to drum up business for his province's fledgling hi-tech sector, Tobin said he spoke with Corel president Michael Cowpland about the matter in the morning and could close the deal soon. ÿ"We've had talks," Tobin said following an afternoon event at the Corel Centre. "I'm a big supporter of Canadian firms." ÿNews of the pending deal comes just four days after word that Queen's Park chose Corel software for Ontario's publicly funded elementary and high schools. ÿThe Ontario deal, however, was worth a modest $495,000 and the Newfoundland contract would likely be worth even less. ÿCompany spokesperson Nicole Sanford wouldn't comment on the Newfoundland deal but said schools are an important market for the company. Corel had sales of $29 million to academic institutions in fiscal 1997 when it lost $231 million U.S. ÿ"Things are happening here," she said. ÿThings are also happening on Bay St. Corel stock surged 38› yesterday on the TSE to close at $4.24. That's an increase of $1.44 -- 51.4% -- over the last four days of trading. The stock has a 52-week high of $9.20. ÿWhile the school deals create high-profile, good-news announcements for a company in dire need of a happy story to tell, the Compaq alliance likely offers significantly more revenue potential. ÿWhile no dollar values were released, the deal means one of Corel's leading product lines will be bundled with Netscape Communicator and other features with some of Compaq's best-selling PCs. canoe.com