Hopes for SystemSoft reined in
One-time charges earn system-level software maker SystemSoft a ratings cut and a 30 percent stock dive.
SystemSoft (SYSF) was downgraded by Hambrecht & Quist analyst Todd Bakar to a "buy" from a "strong buy."
The system-level software maker's stock dropped 30 percent to 11-1/8 in morning trading from yesterday's close of 17.
SystemSoft yesterday reported net income of $2 million, or 8 cents a share, for its fourth quarter, up from $1.3 million, or 5 cents per share, a year ago. However, during the quarter it recorded charges totaling $46.5 million in connection with its acquisition of Radish Communications Systems and the write off of in-process technology. After the charges, the company posted a loss of $42.1 million, or $1.78 per share, for the quarter.
Micron upped to "buy"
Micron Technology (MU) was upgraded by CS First
Boston to "buy" from "hold." The analyst also set
a 12-month price target of $50 a share.
The company's stock was up 1-3/4 in morning trading from yesterday's close of 38-1/2.
Yesterday, the company announced the availability of its SDRAM-based DIMM modules. These modules are designed to meet the expected demand from portables and desktops as the PC industry moves towards Synchronous DRAM in 1997 for main memory needs, the company said.
LSI Logic gets "buy"
LSI Logic (LSI) was picked up by Hambrecht & Quist with a rating of "buy."
The company's stock was up 1-7/8 in morning trading from yesterday's close of 34-1/2.