Peoplesoft Inc has tried everything to get its languishing share price up, including farming off its more risky research and development efforts into a separately listed shell company, optimistically named Momentum Business Applications Inc (CI No 3,540). Yesterday the stock finally rose, on the resurgence of an old rumor that IBM Corp was interested in buying the company. Nobody actually appears to believe the rumors, but Peoplesoft stock nevertheless ended $2.75 higher to end at $24.44, a 12.68% rise. At its peak in May 1998, Peoplesoft shares were valued at $57.44. Earlier this month, the value had dropped to $16.50.
