Here's the official word...
"Mercator Software shares dive on filing delay
NEW YORK, Aug 16 (Reuters) - Shares of business software maker Mercator
Software Inc. (NasdaqNM:MCTR - news) dived more than 44 percent Wednesday
after the company notified the Securities Exchange Commission that it would
file its official second-quarter financial statement late.
The delay was compounded by the fact the company declined to say why the
filing would be late, said Ken Kiarash, Internet analyst with the Buckingham
Research Group.
Shares of Mercator were down 12-13/16, or 44.28 percent to 16-1/8 and were
the top percent losers and the second-greatest net losers on the Nasdaq.
``The market market has become very nervous,'' said Kiarash, who last month
downgraded the stock to a sell from a market perform. ``They're puzzled by
the announcement. The company has given zero response.''
Cynthia Cronk Brockhoff, director of investor relations told Reuters that
the company ``didn't have all the necessary information to make the filing.
There's really nothing more I can say.''
The delay notification was filed Aug 15, and allows the company to postpone
the official filing until Monday. Companies have 45 days from the last day
of their quarter to file their official report with the SEC.
On July 17, the company released its second-quarter earnings that fell well
short of analysts expectations and sent shares of the Wilton, Conn.-based
Mercator down 60 percent. "
-----Original Message-----
From: Anthony Whitehead [mailto:[EMAIL PROTECTED]]
Sent: Wednesday, August 16, 2000 3:35 PM
To: [EMAIL PROTECTED]
Subject: Re: Mercator Stock Price
I would be interested to know if Mercator is having problems as well. could
the
response be sent to the L-server?
Anthony Whitehead
Technology Enablement
Andersen Consulting
=->Company is filing its SEC financial statement late. Wall St. hates that
=->kind of stuff.
=->Check out http://biz.yahoo.com/rf/000816/n16395948.html
=->
=->> Mark Haines wrote:
=->>
=->> The Mercator stock (mctr) price has dropped this afternoon from $29 to
=->> $16. This stock was in the low $60's several weeks ago.
=->>
=->> Does anyone know if this company in real trouble.
=->>
=->> Mark Haines
=->> Armer & Haines Advisory Group
=->
=->--
=->Joe McVerry, President and Chief Technical Officer
=->American Coders Ltd.
=->POBox 97462
=->Raleigh, NC 27624 USA
=->919.846.2014
=->AOL-IM: USACoder
=->http://www.americancoders.com
=->Home Of OBOE - Open Business Objects for EDI
=-> xBaseJ - xBase Database Engine For Java
=->
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