USInternetworking

(USIX)

, which rents software to businesses through the Internet, rose 43.3% in preopen

Island

trading after it said

Microsoft

(MSFT) - Get Report

would invest $50 million in the company and will help it sell its services.

Merrill Lynch

raised USInternetworking to near-term accumulate from near-term neutral and to long-term buy from accumulate.