Cloud computing stocks showed strength in January 2013, and now Carbonite and SolarWinds on Feb. 4 announced strong quarterly earnings.
Cloud computing and cloud services stocks rose nearly 6 percent during January 2013, according to the Talkin' Cloud Stocks Index, which tracks 20 companies that offer IaaS, PaaS, SaaS and virtualization technologies. For the week ending Feb. 1, 2013, the index slipped 1.33 percent. The biggest weekly loser was VMware (NYSE: VMW), which may face slowing growth amid layoffs.
Although cloud computing stocks are trading at lofty levels are there are two new reasons to be optimistic:
- Carbonite (NASDAQ: CARB) the cloud-based backup provider, announced strong Q4 growth on Feb. 4.
- SolarWinds (NYSE: SWI), the IT management software company, also disclosed storng earnings for Q4.
Talkin' Cloud updates the stock index each Friday after U.S. market close. To track the index and its 20 members weekly, visit http://www.TalkinCloud.com/CloudStocks.