Agency.com (Nasdaq: ACOM) picked up 3 1/8 to 44 1/2 Thursday after announcing that it would team up with Sun Microsystems Inc. (Nasdaq: SUNW) to provide end-to-end e-business services for corporate clients.
Sun Microsystems shares inched up 3/16 to 81 7/16.
The two companies have assigned representatives of their respective marketing and technology organizations to manage customer relationships at the corporate level. They also intend to develop co-branded joint marketing initiatives including client conferences, trade shows and presentations to target accounts.
"We are very pleased to be working with Sun Microsystems and see a tremendous market opportunity to deliver next generation work to an even broader base of global companies," said Chan Suh, Agency.com's CEO, in a prepared release. "This is an important strategic marketing initiative at Agency.com and we look forward to forging new directions with the Sun Channel."
Agency.com shares have struggled of late after a fantastic initial public offering in December.
Two weeks ago, Sun Microsystems topped analysts' estimates in its second quarter, raking in $353 million, or 21 cents a share, on sales of $3.55 billion.
Agency.com shares peaked at 98 shortly after its IPO before slipping to a low of 35 earlier this week.
Both analysts tracking Agency.com rate it a "buy."