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

To: Lutz Moeller who wrote (3479)	11/8/1998 12:55:00 PM
From: bullw	Respond to of 4509

He's pumpin and dumpin on other boards. Let's keep topic on PSFT. Please remember this: Monday November 2, 9:11 pm Eastern Time FOCUS-PeopleSoft unveils Internet plan (Adds CEO quotes paras 5-6, details, byline) By Duncan Martell SAN FRANCISCO, Nov 2 (Reuters) - PeopleSoft Inc. Monday unveiled an electronic commerce strategy for the Internet as the No. 2 maker of business management software tried to turn up the heat on industry leader SAP AG of Germany. The company also said it had created three new divisions to oversee operations in the United States and Canada. The maker of software for managing manufacturing, supply, finances and other functions has seen its stock tumble 65 percent in recent months from its record high of $57.44 amid concern about the global economic slowdown, the Year 2000 computer problem and growing competition. The stock's decline came even as sales are rising faster than the industry average, with sales up 71 percent so far this year. ''PeopleSoft is gaining market share on all of our major competitors,'' PeopleSoft Chief Executive Dave Duffield told people gathered here for the company's annual user conference. But he added, ''We're not happy about the recent performance of our stock price.'' PeopleSoft said it also will develop products to help customers manage their businesses and make transactions over the Internet. The new products use PeopleSoft's current planning software as its backbone. Electronic business is ''enabling people to be more effective in accomplishing business goals using Internet technologies,'' Mark Nittler, head of applications at PeopleSoft, told customers at San Francisco's Moscone Center. Pleasanton, Calif.-based PeopleSoft said it was also creating the PeopleSoft Business Network to give its customers access to product and other information over the Internet and launching other initiatives to boost service. PeopleSoft stock rose 56 cents to $21.75 in afternoon trading on Nasdaq