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MicroStrategy Soars on News of IBM Deal

August 22, 2000|Bloomberg News

Shares of beleaguered MicroStrategy (MSTR) climbed 41% on Monday after the company said IBM (IBM) will sell its customer-service software.

Terms of the agreement were not disclosed.

Vienna, Va.-based MicroStrategy's software lets businesses analyze customer data and create customized sales pitches deliverable by phone, fax and the Internet.

MicroStrategy jumped $8.56 to close at $29.56 on Nasdaq.

The shares tumbled this spring after MicroStrategy revised two years of sales figures, and they remain down 71.9% year to date. The stock had traded for more than $300 a share before its bombshell announcement in March.

Analysts expect MicroStrategy to lose $2.12 a share this year.

IBM closed up $1 at $121.44 on the NYSE.

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