Stocks quoted in this article:
This has not been a good week for B2B companies. The group's leader, Ariba (ARBA - 75-7/8) has seen its stock fall 25 percent in three days, from over 100 Tuesday to the 75 level. Today, Commerce One (CMRC – 46-3/4) took a huge hit, down over 15 percent at one point, on concerns of weak sales that the company denies as rumors. CMRC has made a partial recovery, but is still down over 11 percent today. Purchase Pro (PPRO - 16) is also down over 12 percent today. Former highflier VerticalNet (VERT-15-11/16) fell to a new low today of 15-1/4, down from 133 in March.
One bright spot in the e-business realm is Great Plains Software (GPSI – 49). After some post-Y2K sales slowdown difficulties earlier this summer, this provider of e-business solutions purchased Solomon Software and partnered with Siebel Systems (SEBL – 94-1/2) to be able to provide integrated front-and back-office solutions. This week they announced another alliance with Tompkins Associates. Yesterday, the stock began pulling further above its 10-day moving average and traded as high as 47, a level it had not touched in six months. It is extending its gains today on increasing volume and looks to close near the top of its range, approaching 50.