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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: Eddie Kim who wrote (2040)	9/1/1998 8:21:00 PM
From: John Carragher	Read Replies (1) \| Respond to of 4509

conference call thurs after close Dow Jones Newswires -- September 1, 1998 PeopleSoft Up 16% On Expectations Of Thurs. Conference Call By PETER LOFTUS Dow Jones Newswires NEW YORK -- PeopleSoft Inc.'s (PSFT) shares rose 16.2% Tuesday in advance of a conference call scheduled for Thursday, when analysts expect the company to try to reassure investors about its prospects. Analysts also said investors concluded the stock was oversold in recent weeks, when it took a battering and hit a 52-week low Friday of 26 7/8, down sharply from its 52-week high of 57 7/16 set April 20. "Investors are buying at today's prices in anticipation of this (conference) call," said First Albany Corp. analyst Robert D. Kugel. "It's very likely the story they have to tell will be encouraging." Some analysts said they believe the conference call with investors, scheduled for after Thursday's market close, is the first ever by the Pleasanton, Calif., provider of enterprise application software. They took that as a good sign. "The fact they're coming out and stating business is strong and answering questions out there in the market ... I think that's a positive," said Dain Rauscher Wessels analyst William Lanzon. Some investors expect declines in the growth rates of PeopleSoft's overall revenue and revenue from licensing, said Josephthal & Co. analyst Bert Hochfeld. But he suspects the company will say Thursday that such declines, if any, aren't as drastic as some investors expect. A company spokesman did not return calls seeking comment. Analysts said they learned of the conference call after the market closed Friday. PeopleSoft's shares rose 3.2% Monday against a plummeting market and closed Tuesday up 4 9/16 at 32 11/16 on Nasdaq volume of 13.8 million. Average daily volume is 4 million. The company's call options, which give investors the right to purchase a stock at a certain price, have been active for several sessions, and that bullish activity continued Tuesday. PeopleSoft's most actively traded option, the September 30 call, gained 1 9/16 to 3 1/2 on composite volume of 1,585 contracts, compared with open interest of 1,326. -Peter Loftus; 201-938-5099 Briefing Book for: PSFT Return to top of page \| Format for printing Copyright c 1998 Dow Jones & Company, Inc. All Rights Reserved.