BEA Systems Leaps on Deal With PeopleSoft
Updated from 8:49 a.m. EDT.
BEA Systems
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was up 6.5% in midmorning trading after it announced a deal with
PeopleSoft
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(PSFT)
to combine technologies.
The companies said BEA's WebLogic software will be embedded in PeopleSoft's business software package. The move continues a long-standing relationship between the two companies.
Other software stocks were also rising preopen. CheckPoint (CHKP) - Get Check Point Software Technologies Ltd. Report was up 5.9% and Oracle (ORCL) - Get Oracle Corporation Report was up 5%.
This morning, ABN Amro came out with a report saying it saw downside risk for much of the software sector, but said the current weakness in the share price makes the stock attractive for long-term investors.
