Ariba Inc. (Nasdaq: ARBA) rose 8 to 143 Tuesday following positive comments about the outlook for the company, and for business-to-business (B2B) e-commerce generally, from Credit Suisse First Boston analyst Christopher Vroom.
Other B2B stocks also rose on the comments, and on news that the European Union (EU) had approved a B2B marketplace.
i2 Technologies (Nasdaq: ITWO) advanced 17 5/16 to 143 3/8 Tuesday, and PurchasePro, FreeMarkets and VerticalNet, Inc. also gained.
Vroom reportedly sees a $250 million revenue backlog at Ariba, which posted a 101 percent sequential revenue rise in the first quarter. Companies are starting to see online exchanges as a better way to do business, according to Vroom’s reported comments.
B2B stocks got an added lift from news Monday that the European Commission gave the green light to MyAircraft, a B2B marketplace planned by i2, Honeywell, Inc. (NYSE: HON) and United Technologies Corp. (NYSE: UTX). MyAircraft will be operated as an independent company open to airlines, equipment manufacturers and suppliers, and expects to start offering services in the fourth quarter of this year.