NEW YORK (TheStreet) -- Shares of Nimble Storage Inc. (NMBL) are higher by 5.02% to $27.83 on Monday morning following a ratings upgrade to "outperform" from "neutral" at Macquarie Group (MQBKY) .

The firm said it raised its rating on the company, which provides customers with data storage platforms, based on the end of the stock's lock-up expiration overhand, and the belief secular challenges in the storage market are not going to harm the company.

Nimble Storage stock also received a boost this morning following the $1.1 billion deal SanDisk Corp. (SNDK) made to acquire the computer hardware and software company Fusion-io FIO as the deal has helped lift shares in the data storage sector. 

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Other stocks rising on the news include NetApp Inc. (NTAP) - Get NetApp, Inc. (NTAP) Report up 1.01% to $36.02, and Violin Memory Inc. (VMEM) higher by 2.28% to $4.04 this morning.

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