|
|
|
ONLINE FEATURES
Book Reviews
BW Video
Columnists
Interactive Gallery
Newsletters
Past Covers
Philanthropy
Podcasts
Special Reports
BLOGS
Auto Beat
Bangalore Tigers
Blogspotting
Brand New Day
Byte of the Apple
Economics Unbound
Eye on Asia
Fine On Media
Green Biz
Hot Property
Investing Insights
Management IQ
NEXT: Innovation
NussbaumOnDesign
Tech Beat
Working Parents
TECHNOLOGY
J.D. Power Ratings
Product Reviews
Tech Stats
Wildstrom: Tech Maven
AUTOS
Home Page
Auto Reviews
Classic Cars
Car Care & Safety
Hybrids
INNOVATION
& DESIGN Home Page Architecture Brand Equity Auto Design Game Room SMALLBIZ Smart Answers Success Stories Today's Tip INVESTING Investing: Europe Annual Reports BW 50 S&P Picks & Pans Stock Screeners Free S&P Stock Report SCOREBOARDS Hot Growth 100 Mutual Funds Info Tech 100 S&P 500 B-SCHOOLS Undergrad Programs MBA Blogs MBA Profiles MBA Rankings Who's Hiring Grads |  |
SEPTEMBER 22, 2003
At Interwoven, Things Are Meshing Nicely  Savvy hedge funds have been snapping up Interwoven (IWOV
) shares in anticipation of the enforcement in 2004 of the Sarbanes-Oxley Act, aimed at improving the way companies manage and report financial information. The law requires companies to set in place internal controls and auditing safeguards to prevent accounting fraud. It would be a boon to Interwoven, says one New York hedge fund manager, who asked not to be identified.
Interwoven's software automates the collation and reporting of information, especially in documenting earnings results. Currently at 2.90, Interwoven is down from its high of 62 in 2000. It has cash of $1 a share and no debt. This pro sees the stock doubling in a year: He expects the company to be in the black by the fourth quarter -- although it will post a yearly loss for 2003. In 2004, he foresees earnings of 4 cents to 5 cents a share. In August, Interwoven acquired iManage (IMAN ), a maker of data-management software. The buy improves Interwoven's ability to compete against big rivals, says David Rudow of U.S. Bancorp Piper Jaffray (USB ) who rates the stock outperform. He projects a loss of 16 cents a share in 2003 on sales of $108 million and a loss of 4 cents in 2004 on $118 million, excluding iManage's numbers. Unless otherwise noted, neither the sources cited in Inside Wall Street nor their firms hold positions in the stocks under discussion. Similarly, they have no investment banking or other financial relationships with them.  By Gene G. Marcial
BW MALL
SPONSORED LINKS
Buy a link now!Get BusinessWeek directly on your desktop with our RSS feeds.  Add BusinessWeek news to your Web site with our headline feed. Click to buy an e-print or reprint of a BusinessWeek or BusinessWeek Online story or video. To subscribe online to BusinessWeek magazine, please click here. Learn more, go to the BusinessWeekOnline home page  | | |
 Copyright 2003, by The McGraw-Hill Companies Inc. All rights reserved.Terms of Use | Privacy Policy |
Printer-Friendly Version
