Cognos Report Lifts Business Intelligence Stocks

Updated from April 2

Business intelligence stocks were soaring Thursday on the strength of a robust earnings report by Cognos(COGN Quote) and an upgrade to rival Business Objects(BOBJ Quote).

In recent trading, Cognos, which yesterday announced fourth-quarter revenue growth of 15%, had gained $1.78, or 7.5% to $25.50. Business Objects, raised to outperform from neutral by CS First Boston, was up $1.45, or 8.4%, to $18.66. Volume on both stocks was more than twice the norm.

Also surfing the BI wave is Hyperion Solutions,(HYSL Quote), up $1.34, or 5.2%, to $27.34, on average volume. ...