Microsoft deal propels Citrix stock
Citrix sees its share price skyrocket for the second straight day after heralding a licensing and development agreement with Microsoft.
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.