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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Michael Berkel who wrote (37669)	5/1/1999 5:18:00 AM
From: puborectalis	Respond to of 120523

MARIMBA has the makings of a giant internet company with its monopoly..... Marimba IPO soars Software firm run by former Sun Microsystems execs jumps 223% April 30, 1999: 1:28 p.m. ET NEW YORK (CNNfn) - Shares of Marimba Inc., the software firm founded by former Sun Microsystems Inc. executives, more than tripled in their first day of trading Friday. Marimba (MRBA), which makes software that lets companies install and maintain software applications across the Internet, saw its shares jump 223 percent from an offering price of 20 to 64-9/16 in midday trading. Although the Mountain View, Calif.-based company is Internet related, its management team represents the chief attraction for investors, according to Jennifer McBrien, an analyst at Renaissance Capital Corp. Marimba was founded in 1996 by four former members of Sun Microsystems 's (SUNW) original Java programming language development team, headed by Chief Executive Officer Kim Polese. Customers for Marimba's flagship product, Castanet, include Nortel Networks (NT), Home Depot (HD) and Intuit Inc. (INTU). The company also benefits from high-powered financial backers, including venture-capital giant Kleiner Perkins Caufield & Byers, which owns 15 percent of Marimba. Marimba lost $5.7 million on $17.1 million in revenue in 1998. But McBrien noted the company is expected to start showing a profit in 2000. "They just need to cut some operating costs and increase their revenues," McBrien said. home \| digitaljam \| contents \| search \| stock quotes