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Stock Alert: VMware Up 7%

VMware Inc. (VMW) shares are rising on Friday morning as it reported higher earnings for the first quarter, while its revenues were up 11.4 percent.

Currently, shares are at $153.20, up 7.50 percent from its previous close of $142.44. The shares gapped down at open, however, climbed to a one-month high. The shares have been trading below its 200-day moving average since the third week of February but climbed above the line on current trading.

The company reported first-quarter earnings of $386 million, or $0.92 per share, up from $380 million or $0.89 per share, last year. Excluding items, VMware's adjusted earnings were $640 million or $1.52 per share.

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