Extended Systems jumps after "strong buy" rating
Wednesday September 6, 9:50 pm Eastern Time
biz.yahoo.com
SEATTLE, Sept 6 (Reuters) - Shares in Extended Systems Inc.(NasdaqNM:XTND - news), which makes software to manage data on mobile computers, rose 12 percent on Wednesday following a bullish rating by a technology investment bank.
The Boise, Idaho-based company gained $6-15/16 to $64-15/16 in trading on the Nasdaq on heavy volume of 401,000 shares, more than double the 3-month daily average of 175,000 shares.
Although Extended Systems is still well below its year high of $150 a share set in March, the company has risen 1,500 percent from its 52-week low of $4-1/4 last September.
Wednesday's rise came a day after Wit SoundView, an online investment banking firm that focuses on the technology sector, gave a ``strong buy'' rating to the company.
Extended Systems also said on Wednesday after the close of U.S. markets that it had entered an alliance with software giant Microsoft Corp. (NasdaqNM:MSFT - news) to help businesses in Francesynchronize and manage information with Microsoft's line of Pocket PC handheld computers.
In after-hours trading, Extended Systems shares rose another 1/2, to $65-7/16. |
