B2B recovery looks distant

NEWS PeopleSoft's profit warning and subsequent share price slump could signify a longer than expected recovery period for the enterprise software sector. A short statement on Monday informed investors and analysts that licence revenues will come in 19 per cent below previous expectations. On Tuesday the company lost a third of its share price value. On the same day Commerce One, i2 and Interwoven announced they too would miss revenue projections. This has fuelled belief in the analyst community that there are no signs of an economic recovery in the applications market. In overnight trading it lost a further 1.59 per cent but gained almost three per cent in after-hours.