BEA Systems Rises After Striking Deal With Charles Schwab

Author:
Publish date:

Shares of

BEA Systems

(BEAS)

leaped after the e-commerce infrastructure software company said it formed a three-year agreement to supply its core Internet business software to

Charles Schwab

(SCH)

.

Shares of BEA, San Jose, Calif., were trounced two days ago after

analysts downgraded the company. Today, the shares recouped their losses, finishing the regular trading session at $56.25 on the

Nasdaq

.

BEA said today the new agreement broadened its existing relationship with Schwab, which will have access to unlimited licenses for the use of BEA's WebLogic Server during the next three years. The company didn't disclose any financial details.

Schwab ended down 25 cents, or 0.9%, to $27.31 in composite trading on the

New York Stock Exchange

.