Stock Watch: IBM Deal Boosts Vignette

The stock of Vignette, which develops software that helps businesses manage online customer relationships, climbed nearly 4 percent on Tuesday, gaining 2-3/4 to 75-1/4 after the company announced a deal with IBM (NYSE: IBM). Vignette and IBM will integrate their technology into a new solution to power online businesses.

This new deal looks significant for Vignette because it could potentially add some big names to the company's customer base. The company's customers currently include CNET, ZDNet, First Union, US West, National Semiconductor, DaimlerChrysler, Nokia, Qualcomm (Nasdaq: QCOM) and Bertelsmann.

On Monday, Adams Harkness started coverage of Vignette with an accumulate rating. Last Thursday, Vignette received a buy rating from Deutsche Banc Alex. Brown.