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5 Rocket Stocks to Buy After Last Week's Bounce

CA Technologies

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CA Technologies (CA) is another firm that's banking big on IT spending increases. CA develops software and provides IT services to enterprise customers across the world. The firm's bread and butter comes from helping customers put their supremely costly mainframe computers to work -- the huge costs involved with mainframe computing help make CA's fees look bargain-priced as a result. Years ago, CA was primarily a hardware outfitter, but the firm made the well-timed shift to focusing on software for high-end enterprise installations.

>>3 Tech Stocks Under $10 to Watch

That timing is paying off now, as resellers lose their edge in an extremely connected market. CA has also done a good job of positioning itself in line with the buzzwords of the day: namely cloud computing and virtualization. As those technologies continue to grow in popularity in corporate America, CA should continue to push its sales numbers higher, particularly with a customer list that already includes 99% of the Fortune 1000.

Exposure to cloud computing hedges CA's bets a bit, particularly as mainframes become a rarity in the IT world. While still relevant for a handful of processor-intense industries, the high costs of running a mainframe and increasing processor power from prosumer PCs have eaten away share of the enterprise market. CA's embrace of new tech could prove just as prescient as its move from selling servers.

With rising analyst sentiment in shares, we're betting on CA Technologies this week.

To see all of this week's Rocket Stocks in action, check out the Rocket Stocks portfolio at Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.

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Stock quotes in this article: ABT, CA, NOC, PCLN, TRI 

At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to TheStreet. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily, and on CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

Follow Jonas on Twitter @JonasElmerraji

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