ARMONK, New York (
) -- Shares of
surged on Wednesday after
that the networking specialists could be
acquisition bait, while storage maker
plunged on the shock resignation of CEO ReiJane Huai.
Israeli Web site
rival Voltaire as a potential IBM target on Wednesday, hot on the heels of the tech giant's
acquisitions of Blade Network Technologies and Netezza(NZ).
Switch maker Voltaire
is a partner of Blade Network Technologies, and
cites the two companies' technology as complementary. Voltaire investors responded quickly to the chatter, pushing the company's stock up 34 cents, or 5.86%, to $6.14.
There have already been
rumors linking Radware with both IBM and Hewlett-Packard(HPQ)
, driving the company's stock northward earlier this month. Radware's stock rose sharply again on Wednesday, climbing $2.39, or 7.43%, to close at $34.57, although the application delivery specialist has declined to comment on the acquisition rumors.
IBM recently stated it would spend
$20 billion on acquisitions over the next five years
, but added that software companies are the main focus of its M&A effort. The tech giant has also warned that its aggressive acquisition strategy and organic growth
could be impacted by increased regulation of the derivatives market.
Shares of HP also rallied on Wednesday, climbing 91 cents, or 2.19%, to reach $42.53 as investors basked in the warm afterglow of
the company's solid 2011 guidance
, announced late on Tuesday. HP, which is still searching for a successor to ousted CEO Mark Hurd, also
outlined plans for its PalmPad tablet device
during the company's annual analyst meeting.
Shares of storage firm
, however, headed in the opposite direction on Wednesday. FalconStor
was the biggest percentage decliner on the Nasdaq after the data protection specialist announced the surprise resignation of CEO ReiJane Huai.
The shock resignation followed Huai's apparent disclosure that "improper payments were allegedly made" in connection with a single customer's contract.
FalconStor shares closed down 91 cents, or 22.4%, at $3.15.
--Written by James Rogers in New York.
>To follow the writer on Twitter, go to
>To submit a news tip, send an email to: