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Technology Stocks : J.D. Edwards debut! (JDEC) -- Ignore unavailable to you. Want to Upgrade?

To: Early Out who wrote (267)	1/15/1999 10:42:00 AM
From: bob zagorin	Respond to of 583

from new BBRS report (1/12/99) Confidence: HIGH Outlook: · We are comfortable with our estimates for Q1:99 (ending January) – expecting another strong quarter of solid business growth ·Stock suffers from “good house, bad neighborhood” syndrome – with ERP space clearly being affected by Y2K distractions and slowing international economies · We believe JDEC is the best positioned ERP company for a contentious C1999 JD Edwards (JDEC $25.31 ) SBUY Reporting: Wednesday, February 24 @ 2:00 p.m. PST Revenue Estimates Op. BRS FirstCall Mkt Cap/ Total S/W License Margin EPS EPS Revs P/E Jan - FQ1:99E $232.5 $94.5 5.7% $0.09 $0.09 C1998E $988.2 $412.59 11.3% $0.70 $0.70 2.6x 36.0x C1999E NE NE NE NE $0.92 NE NE

To: Early Out who wrote (267)	1/16/1999 12:37:00 PM
From: bob zagorin	Read Replies (1) \| Respond to of 583

not new but very interesting. Microsoft in the ERP market? Microsoft has so far only played a supporting role in the ERP market but there are plenty of reasons why it might show more interest. Its financial might is such that it could buy any of the top five suppliers. It would make perfect commercial sense to couple NT with an established ERP, thus replicating its successful Windows/MS-Office strategy on the desktop. Microsoft would not buy Oracle Applications as a matter of principle, even if the rumours about a possible sell-off have any substance. Aside from SAP and Oracle, the other three top ERP vendors each has strengths, but also has major challenges ahead. PeopleSoft has been a star performer in its domestic market but has still to make an impression elsewhere. Baan is on course to supply a fully componentized product, yet the acquisition strategy which has given it this lead may also be a hindrance as the myriad products are brought together. Microsoft has relationships with all of the top five, but its dealings with JD Edwards – such as integrating Back Office into OneWorld – attract special attention. For many NT is a natural successor to OS/400 (where JD Edwards has a large base), so Microsoft will also be looking to the middle-market to provide growth. Furthermore, JD Edwards would probably be the cheapest of the five to buy. From the Xephon Focus Report, The ERP Market, August 1998