10/31/2007 Mini-update

ARIS.ob announced earnings this past week. Sales were good, bottom line still a slight loss. Our valuation moved up to $5.49 per share from $5.34. So it looks like they are still building value. This remains a BUY.

ILOG announced earnings this morning. Disappointing. Sales we up to $40.8 million, cash was up to $61.9 million, but they lost $.14 a share. Got to get control of those expenses. Our valuation has fallen to $20.51 from $23.22. Expect the price to fall a bit today. Still a good company, but another quarter like this and we will be out. HOLD.

SPNC also announced this morning. Numbers looked good to me. Guidance appears conservative as usual though. We’ll see how the stock reacts. Could go either way although they beat revenue guidance by a bit and raised the 2007 outlook. HOLD.


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