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
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. 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.
