Software maker Citrix Systems (CTXS), which saw its stock free-fall by nearly 60 percent after Microsoft (MSFT) announced plans to step into its business earlier this year, today saw its share price skyrocket for the second straight day after heralding a licensing and development agreement with the software giant.
Citrix's share price has jumped nearly 90 percent since yesterday, reaching as high as 36-1/2 in morning trading from its previous close of 32-5/8, more than regaining ground lost earlier this year. In February, after the Microsoft announcement, Citrix shares fell overnight to 10-5/8 from 26-1/4.
The company yesterday announced a thin-client agreement with Microsoft to provide Windows-based terminal support for the Windows NT Server operating system.
Under the deal, Citrix will receive $75 million and an additional $100 million in shipping-related fees. That news kicked off a rebound in the stock, which shot up nearly 70 percent from its close of 19-1/4 on Friday.
Citrix's recent stock performance may go a long way toward calming investors, who have filed two shareholder lawsuits against the company since that fateful day in February.
Last month, shareholders filed a lawsuit alleging Citrix misrepresented and omitted information regarding its products and Microsoft's plans to develop competing products that could curtail the need for Citrix's products.
That lawsuit mirrored another class-action suit shareholders filed in March.