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Stock Watch: Commerce One Gains on Upgrade, FTC Nod

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Stock Watch: Commerce One Gains on Upgrade, FTC Nod

By Nora Macaluso
E-Commerce Times
Part of the ECT News Network
09/12/00 12:00 AM PT


Commerce One Inc. (Nasdaq: CMRC) rose 3 3/4 to 75 1/8 following reports that the U.S. Federal Trade Commission (FTC) will approve an Internet purchasing venture formed by the Big Three U.S. automakers and technology partner Commerce One.

The venture, known as Covisint, will link more than 30,000 automotive industry suppliers and handle hundreds of thousands of transactions a year.

Prudential Securities reportedly upgraded Commerce One to strong buy from accumulate following word of the FTC decision.

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