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Technology Stocks : Looking for info on IMNT -- Ignore unavailable to you. Want to Upgrade?

To: DRL who wrote (454)	6/15/1998 7:59:00 AM
From: ION$	Read Replies (1) \| Respond to of 484

By Louis Hau NEW YORK (Dow Jones)-- Imnet Systems Inc.'s (IMNT) shares gained another 6.8% after a business partner, privately held Eclipsys Corp., made positive comments about Imnet during a road show to promote its planned initial offering, according to a top company official. The Atlanta health-care information systems company's shares have also benefited from some short covering and institutional buying, market observers said. Eclipsys, of Delray Beach, Fla., began its road show Thursday and has been touting its ties to Imnet, said Imnet Chairman and Chief Executive Kenneth Rardin. In February, the two companies entered into a business partnership under which Eclipsys will promote and sell Imnet's Electronic Information Warehouse software system. Imnet's shares sank to a 52-week low of 9 1/2 on June 2 due to the company's recent disappointing financial performance and steady selling by several large institutional shareholders who have been unwinding their positions in the stock for the past four to five weeks, according to Punk Ziegel & Knoell analyst Michael Knepper. Since then, Inmet's shares have surged more than 40% - which included a 14.4% gain Thursday despite the overall downturn in the market - as other institutional customers got into the stock and short sellers covered their positions, Knepper said. Gruntal & Co. analyst Anthony Vendetti said Imnet's upcoming fourth-quarter results will be pivotal for the stock's performance. Imnet will have to post a bounce back in revenue and earnings for the company's shares to continue their current upward trend, he said. There has long been speculation that Imnet might make an attractive acquisition for HBO & Co. (HBOC), the bellwether of the health-care information systems sector. But analysts said they weren't aware of any on-going talks between the two sides. Imnet's hares continued to swim against the bearish tide enveloping the broader market, rising as high as 14 11/16, before settling to 13 13/16, for a gain of 7/8 on Nasdaq volume of 592,400. Average volume is 208,400. In addition, there has been modest actvity this week in Inmet's usually thinly traded options. Buyers steadily purchased call options that would profit from a continued advance in the underlying stock. -By Louis Hau; 201-938-5240; louis.hauor.dowjones.com (Steven M. Sears contributed to this story.) (END) DOW JONES NEWS 06-12-98 01:39 PM Copyright 1998 Dow Jones & Co., Inc. All rights reser