Informix Tumbles on Earnings, IBM Deal

 

Informix (IFMX Quote) was down 23.6% in midmorning after it beat the Street's first-quarter estimates and said it will sell its database business, Informix Software, to IBM (IBM Quote) for $1 billion.

Informix said it earned 6 cents per share before charges, ahead of analysts' consensus of 5 cents but down from 9 cents a year ago.

Merrill Lynch said the deal makes IBM more competitive in one segment of the database business. IBM was up 2.1%.

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