Veritas Software

(VRTS) - Get Report

was up 9.7% by late morning after it reported strong third-quarter earnings and impressed analysts during a conference call.

Lehman Brothers

TST Recommends

raised earnings estimates for the company to 58 cents a share from 53 cents for this year and to 80 cents from 74 cents for next. Before the conference call, Lehman had speculated that the company would say its European and Windows-related businesses are solid.