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Canoe.ca: Linux Stocks Extend Gains on IBM's US$1 Billion Spending Plan

Dec 13, 2000, 22:16 (0 Talkback[s])

"Software company Red Hat Inc. was up US$1.14, or 14%, at US$9.56, after rising 17% Tuesday and software company Caldera Systems Inc. jumped 56 cents, or 21%, at US$3.19, after jumping 17% Tuesday."

"Keith Bachman, an analyst at ABN Amro, said, 'We're seeing continued enthusiasm from the IBM news.' The IBM investment combined with Nasdaq's robust but short-lived rally and sentiment that the stocks have been pounded all boosted Linux companies, Mr. Bachman said."

But Mr. Bachman noted, 'Although it is perceived as good for all in the space, Wall Street should not overlook the fact that IBM is a competitor of Linux.' Computer giant IBM has been a strong supporter of the Linux operating system, which is widely seen as an alternative to Microsoft Corp.'s Windows, as well as to the host of proprietary Unix operating-system variants sold by IBM's rivals.

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