Before-the-Bell: FileNet and Cummins Rise
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Shares of FileNet Corp. FILE.O  soared 13 percent before the bell on Wednesday after the maker  of content-management software posted a sharply higher  quarterly profit.
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Shares on Wall Street are expected to open higher on Tuesday, as stronger oil prices are likely to underpin energy stocks and investors bet on strong earnings from network equipment maker Cisco Systems .
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Investors are keeping an eye on sequential numbers.
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Investor's Business Daily - The maker of routers and other networking gear is betting that more small businesses and even homeowners want higher-end storage systems once reserved for larger corporations.
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Amid uncertainty about the greater economy, technology companies are looking good to investors.Â Strong earnings from Red Hat this weekÂ and Oracle last week, continued excitement over mergers and acquisitions, and solid forecasts for global component sales have been pushing shares of tech vendors up.
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By Sayer, Peter; Knorr, Eric  CONTENT MANAGEMENT  IBM LAST THURSDAY EXTENDED ITS run of major acquisitions, agreeing to buy business process and enterprise content management specialist FileNet for approximately $1.6 billion in cash.
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Spotting the clues to buy before stocks rise.
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(InfoWorld) - Amid uncertainty about the greater economy, technology companies are looking good to investors.Â Strong earnings from Red Hat this weekÂ and Oracle last week, continued excitement over mergers and acquisitions, and solid forecasts for global component sales have been pushing shares of tech vendors up. Over the last week, the share prices of a variety of bellwether tech companies have hit 52-week highs. Shares of eBay, AT&T, and Verizon closed at their highest levels in a year, while Apple and Google hit all-time highs. IT investors boosted Red Hat shares, which closed Wednesday at $19.89, up by $1 after the company's quarterly results announcement on Tuesday. Solid sales and efforts to contain costs helped lift net income to $19.1 million, up from $12 million from one year earlier. Revenue rose 28 percent for the period to $127.3 million. Growth for middleware vendorÂ JBoss, which Red Hat bought last year, was not as good as hoped for, but revenue figures indicate that the company's core business is doing better than expected, said brokerage JMP Securities in a research note. Products shipped this quarter included the JBoss Enterprise Application Platform 4.2. Shares of Apple, flying high mainly on excitement over its dominance in the music device market and the recent launch of iPhone, hit an all-time high Monday after the brokerage unit of Citigroup raised its price target for the company to $185 from $160. Citigroup Global Markets noted that in addition toÂ Apple's mobile device business, sales of Macs are exceeding prior estimates. Apple shares rose by $4.13 Monday to hit $148.28 and drifted upward during the week. EMC also was the subject of positive remarks from analysts with both Citigroup and brokerage Bear Stearns & Co. raising their ratings on the company. Both brokerages were pleased with EMC's continued ownership inÂ VMware, part of which was spun off in an initial public offering in August. VMware shares started trading at $57, moving upward to $80 this week. The company is gaining on the strength of its dominance in virtualization technology, which allows multiple processes to run more efficiently on servers and is increasingly popular as data centers seek to cut costs. EMC closed Wednesday at $82.36, $25 higher than where it was trading at mid-quarter. M&A activity, which has stoked investor excitement this year as the number of deals hits the highest level the market has seen in years, continued this week with EchoStar Communications announcing Tuesday that it plans to buy Sling Media. Sling offers technology that allows TV-watching over the Internet. EchoStar shares jumped by $2.92 to close at $44.14 Tuesday on the news. Industry watchers also look at forecasts for component sales, to get a sense of how market demand will play out over the next few quarters. iSuppli reduced its forecast of global semiconductor revenue growth in 2007 this week to 3.5 percent, down from its prior estimate of a 6 percent increase. But while the chip forecast slipped, the estimate for shipments of electronic equipment using semiconductors has improved, iSuppli said. The market research company raised its forecast of 2007 electronic equipment revenue growth to 6.8 percent, up from 6 percent before.
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Plain kit, sweet file system Rackable Systems this week made an unusual acquisition for a no nonsense server vendor. It bought flashy storage software maker Terrascale for $38m in cash.â¦
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Plus: Dell meets expectations...Storage, servers bruise HP earnings...Healthy sales lift Cisco's profit.
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Canadian stocks advanced, paced by gold miners including Barrick Gold Corp. and Meridian Gold Inc., as the price of bullion rose. The Standard &amp; Poor&#39;s/TSX Composite Index added 21.03
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Shares of Network Appliance jumped more than 11 percent during Wednesday&#39;s trading after the storage maker reported a robust 38 percent rise in first quarter revenue.
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Great results bode well for investors, but keep an eye on inventories.
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After much hype ahead of its initial public offering, Clearwire  (CLWR) gained value early but then lost its gains in its first day of public trading March 8. The Kirkland, [Wash.] company raised $600 million and priced shares at the high end of expectations in spite of a jittery market.
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The four networks have been bought by consortia which include Scottish &amp; Southern Energy and United Utilities. Transco said that it would return about Â£2bn to shareholders following the sale and would increase its dividend for the current year by 20%.
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Storage vendors Hewlett-Packard, Cisco, EMC, and Microsoft are trumpeting new products this week that foreshadow the near future of storage.
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Disk drive makers were on a roll Wednesday morning after industry giant Western Digital Corp. upped its outlook for the current quarter.