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Technology Stocks : Son of SAN - Storage Networking Technologies -- Ignore unavailable to you. Want to Upgrade?

To: J Fieb who wrote (3219)	5/4/2001 7:34:14 PM
From: J Fieb	Respond to of 4808

And we all could have bought some STOR shares in single digits..... LOS ANGELES, May 3 (Reuters) - Shares of StorageNetworks (NasdaqNM:STOR - news) on Thursday shot up nearly 7 percent even as many top technology stocks were weaker, after the company said Ford Motor Co. (NYSE:F - news) has signed up for two of its storage packages. Financial analysts noted that shares of the stock had fallen sharply in recent months and were regaining ground as the company met earnings expectations. Shares rose as high as $15 on the Nasdaq, their highest level in nearly three months, and closed at $13.87. On Wednesday StorageNetworks said it had signed up recent new customer Ford for two of its data storage management services. ``The company puts expectations in the market and continues to meet them,'' said Tim Newington, analyst with Credit Suisse First Boston. Ford plans to use the two storage packages to unlock value on existing and new data storage assets and convert the current environment, and deploy new SAN technology and professional services to re-architect elements of its storage environment. At a time where many of its customers are cutting costs and technology spending, StorageNetworks has said it can reduce storage costs for its clients by 25 to 30 percent. Analysts say the company's services also improve utilization. Shares of StorageNetworks have fallen sharply from last July's high of $134.38, and hovered between $8 and $14 on the Nasdaq in recent months amid an overarching technology stock sell off. ``The stock had been fairly depressed, although it's one of the few companies that has performed fairly well from the first quarter to the second quarter,'' said Dan Renouard, analyst with Robert W. Baird & Co. STOR has people on the board from all the storage players. They probably all hope to get the FORD data on their offerings. Who will win?