Commerce One Drops 18% on Rumor of Lagging Sales, J.P. Morgan Defends Stock
B2B software company
Commerce One
(CMRC)
was down 17.6% near midday on rumors of lagging sales.
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J.P. Morgan
analyst William Epifanio said the rumor was sparked by an internal memo designed to encourage the company's sales force, and its effect was overblown. Epifanio said he spoke to management was reassured.
