Network Engines Rebounds More Than 23% After Its CEO Appears on TV

Network Engines

(NENG)

, a provider of Internet server appliances, shot up shortly before 2 p.m. and trading volume spiked after its chairman and CEO appeared on

CNBC

. The stock was up 23.3% in late trading. Network Engines was halved on Thursday after the company beat the Street's earnings expectations but an analyst at

Robertson Stephens

reportedly said the company would become profitable six months later than expected. The company today issued a statement accusing unnamed news outlets of erroneously reporting that it missed earnings estimates.