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Friday's hot stocks
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October 22, 1999: 11:32 a.m. ET
Integrated soars on takeover offer; Viant up on surprise earnings
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NEW YORK (CNNfn) - A buyout offer sent shares of a software maker soaring Friday while a positive earrings surprise lifted stock in an e-commerce consultant.
In the morning's highest flyer, shares of Integrated Systems Inc. (INTS) rose 59 percent after the software maker said Wind River Systems Inc. (WIND) is acquiring it for an undisclosed sum.
The deal calls for an exchange of 0.92 share of Wind River stock for each Integrated share.
Stock in Sunnyvale, Calif.-based Integrated jumped 6-3/16 to 16-3/4.
Shares of Viant Corp. (VIAN) leapt 34 percent after the electronic commerce consultant posted a surprise third-quarter profit of 6 cents per share. Analysts had expected a loss.
Further, Goldman Sachs upgraded Viant to "recommend list" from "market outperform."
Shares of Boston -based Viant gained 23-3/4 to 94-1/4.
In the morning's biggest plunge, shares of Pervasive Software Inc. (PVSW) fell 62 percent.
Internet stock message boards buzzed with confused investors attempting to understand the plunge, particularly after Pervasive late Thursday said net income surged 58 percent to $1.5 million in the third quarter.
According to an analyst who spoke on condition of anonymity, investors may have been spooked by Pervasive's announcement in a conference call late Thursday that the company would make a $13 million marketing investment in order to pursue larger customers.
Further, the analyst said the earnings report contained minor "stumbles" which may have concerned investors after a series of stellar quarters.
Hambrecht & Quist Friday downgraded Pervasive to "market perform."
The company wasn't immediately available for comment
Stock in Austin, Texas based Pervasive fell 22-1/2 to 13-9/16.
Shares of Reebok International Ltd. (RBK) rose 14 percent after it reported third-quarter earnings per share of 49 cents, beating expectations by a penny.
Stock in the Stoughton, Mass.-based footwear maker rose 1-1/4 to 10-1/8
Shares of Student Loan Corp. (STU) climbed 19 percent after Citigroup (C) said it would acquire the shares in the nation's second-largest student loan provider it doesn't already own for $45 a share.
Stock in Stamford, Conn.-based Student Loan rose 7-9/16 to 48.
Stock in Ramp Networks (RAMP), an Internet service provider, fell 44 percent after it report a third-quarter loss of $2.4 million, or 12 cents a share.
Stock in Santa Clara, Calif.-based Ramp lost 9-9/16 to 11-15/16.
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