Reuters: Good news sends Canada’s Corel stock higher

“Corel Corp. stock posted solid gains on Thursday after the
software developer said it had settled a major lawsuit and struck a
multimillion dollar deal to supply the U.S. government.”

“Corel also told Reuters on Thursday it has struck a supply deal
with an Internet software retailer worth up to $30 million. Under a
blanket provision agreement, Sunnyvale, California-based Beyond.com
Corp. will provide Corel software to agencies of the U.S.
Department of Defense for three years.”

“Following a two-day surge that pushed the stock up as much as
44 percent, the fever fanned by Corel’s Linux-related products
waned on Tuesday, shaving 12 percent from the issue’s value. Fickle
investors appear to have turned their backs on firms developing
products or services for Linux…”

“Corel has seen minor revenue from a Linux version of its
WordPerfect software released last year. The company’s first major
Linux initiative, an easy-to-use version of the system, is expected
to be ready for release in November.”

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