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Technology Stocks : Check Point Software (CHKP) -- Ignore unavailable to you. Want to Upgrade?

To: DRRISK who wrote (2501)	5/12/1998 10:25:00 AM
From: Platter	Respond to of 7150

From Briefing.com"CHECK POINT SOFTWARE TECHNOLOGIES LTD. (CHKPF) 27 5/8 CLOSED. News that this enterprise security software concern had reached a strategic agreement with potential competitor Microsoft (Crop. (MSFT 84 1/4) regarding unified policy-based management for global networks running Microsoft Windows NT, allowed shares of CHKPF to trade higher in after hours last night. On April 23, shares of CHKPF came under selling pressure when senior Microsoft executive Steve Ballmer was quoted in an Israeli business newspaper that MSFT would increasingly compete with Check Point in the firewall software market as MSFT is well known for entering someone else's area of expertise and quickly dominating the market. Accordingly, the news of potential competition from this world leading software company prompted shares of CHKPF to retreat. However, the two companies have agreed to expanded their two-year strategic partnership and this should helped the shares of Check Point Software regain their footing, as the stock is well below the price level that prevailed prior to the comments made by Mr. Ballmer and below the 52 week high of 50 1/2. Just last week, analyst James Preissler of PaineWebber made a gutsy call on the stock by upgrading CHKPF on the view that investors had overreacted to the comments made from Microsoft. He believed that CHKPF had a large enough head-start to buffer the company from Microsoft . At the same time, he thought that Check Point Software could return to the $45 level in the next 12 months. Last night's news should help the stock in this effort. "