Amex Stock Leader: Pinnacle, IBM Agreement triggers Active Trading

July 26, 2011, 4:12 am

Shares of Pinnacle Data Systems Inc. (AMEX: PNS), a worldwide provider of services and products for original equipment manufacturers (OEMs), skyrocketed in todays trading after the company entered into an agreement with International Business Machines (NYSE: IBM). Pinnacle Data surged as much as 81.68% higher at $2.50, with volume up from daily average of 7,615 to 4.47 million.

Per the agreement, Pinnacle will design and sell products based on IBM’s System p and System x technologies.

John D. Bair, chairman, president and CEO of Pinnacle, said that the company’s exceptional engineering and operational capabilities complement IBM’s product and technology offerings and that this agreement provides the company access to IBM’s market leading technologies that can be leveraged across all three of its targeted market segments.

Timothy J. Harper, COO of Pinnacle, said that the company has substantially grown its service business over the past year; its current focus is on driving profitable growth in its Products business.

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