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Ariba Inc. (ARBA ) posted $0.05 Q1 EPS vs. a $0.04 loss from operations on a sharp revenue rise. The company sees $0.06 Q2 EPS on $180M-$185M in revenues and $0.25-$0.26 fiscal 2001 EPS on $780M-$790M in revenues. ABN Amro downgraded its rating on the shares to add from buy.

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