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Technology Stocks : SAP A.G. -- Ignore unavailable to you. Want to Upgrade?

To: JF2155 who wrote (2600)	9/21/1998 5:12:00 PM
From: AMF	Respond to of 3424

SAP Says '98 Outlook Unchanged - Reportÿÿ(Reuters) Software developer SAP AG told a German newsweekly that it saw no reason to change its forecasts despite growing concern that second-half profit will fall below expectations. In an interview with Der Spiegel, chief executive Henning Kagermann said the company continued to expect 1998 sales growth of 40 percent and profit growth of 30 to 35 percent. SAP's widely traded preference shares plummeted 19 percent last week to 800 marks -- their lowest close since April 9 -- although Kagermann said SAP was not in a state of crisis. ''From our point of view, there is absolutely no reason for the surprising plunge in the share price,'' Kagermann said in an article appearing today. The only thing that has changed is the atmosphere in the entire financial market, he said. Bank Julius Baer analyst Jochen Klusmann on Thursday cut his rating on SAP shares to ''sell'' from ''hold,'' predicting the second half would be ''significantly worse than the first half and significantly worse than expected by the market.'' - Sep 21 10:12 AM EDT