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Technology Stocks : Computer Associates -- Ignore unavailable to you. Want to Upgrade?

To: BostonView who wrote (2898)	8/7/1998 10:06:00 PM
From: DEER HUNTER	Respond to of 5232

From Reuters......... biz.yahoo.com Friday August 7, 7:58 pm Eastern Time Computer Assoc rebounds some after new deals NEW YORK, Aug 6 (Reuters) - Computer Associates International Inc.'s stock climbed more than $5 - nearly 16 percent - on Thursday in what analysts said was a response to newly announced deals and a partial recovery from the stock's blow-up two weeks ago. Montgomery Securities analyst Paul Dravis said that, at least in part, the stock's rise was a rebound from the sharp tumble Computer Associates' stock took on July 22. "I think it's a rebound," Dravis said on Thursday. Computer Associates stock ended the day Thursday up $5.31 at $38.69 on the New York Stock Exchange, where it was the sixth most-active stock. Two weeks ago, the stock fell $19 to just above $38, the lowest level in a year, after the company warned of weaker profit growth over the next several quarters. It hit a low of $31 Monday and has been on the mend since, before jumping up Thursday. Despite a solid fiscal first quarter earnings report, the company cautioned that the Asia economic crisis and the Year 2000 problem has begun distracting customers from buying its software products. Dravis said Thursday's rebound may also be a follow-through from the company's announcement on Wednesday that it had acquired Realogic, the first of several acquisitions CA has said it will make to build up its capacity to offer computers services. On Thursday, the business software maker announced three separate new deals, including a competitive contract win to supply its Unicenter systems management software to manage computer systems that link RadioShack Canada's 850 stores. RadioShack Canada is a unit of InterTan Inc. (ITN - news) The company also said that Bharti BT, India's leading satellite communications provider, and a local Austin, Texas, radiology services group had selected CA's Uincenter systems to manage their corporate computer operations. Terms of these three deals were not disclosed.