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.

Technology Stocks : Peritus Software Services (PTUS) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Brown who wrote (1520)	7/22/1998 6:01:00 PM
From: Big Dog	Read Replies (2) \| Respond to of 1960

Jul 22, 1998 (5:42 PM ET) - The Motley Fool Evening News Independent software company Computer Associates International (NYSE:CA - news) tanked $17 7/8, or 31%, to $39 1/8 after warning that its revenue and earnings growth likely will slow in the next several quarters due to the economic problems in Asia and deferred software purchasing decisions as customers focus on Year 2000 compliance. Strength in the company's North and Latin America units this quarter offset weak sales in Asia. Late yesterday the company reported Q1 EPS of $0.34 (before charges) compared with $0.28 in the year-ago quarter. Analysts had expected EPS of $0.33. Including a roughly $675 million after-tax charge related to issuing stock under its employee stock ownership program, Computer Associates ended $480.8 million, or $0.87 a share, in the red. The company's negative forecast drew a flood of ratings downgrades and cuts in earnings estimates: Goldman Sachs lowered its rating on the company to "market underperform," Merrill Lynch and Bear Stearns gave it a "neutral," Prudential Securities and Hambrecht & Quist went for a "hold," and DLJ cut it to "market perform."