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Compaq Rises on Reported Upgrade From Salomon Smith Barney

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Compaq (CPQ) was up 7% in preopen Instinet trading. reported that Salomon Smith Barney upgraded the computer maker two notches to buy from neutral.

Also today, Compaq said it had demonstrated "the world's first global storage network." The company said it was linking fiber channel storage area networks in Colorado, Australia and the Netherlands over the Internet, expanding the capability of its ENSA utility as outlined a month ago.

The demonstration of the technology took place last week at the opening of its Enterprise Storage Center in the Netherlands.

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