Tekelec this morning reported weaker quarterly results and lowered its financial outlook for the third time this year, a sign that the slower global economy continues to hurt demand for its telecommunications equipment.

The Morrisville-based company sells products and services to cell phone carriers and other customers, including equipment that starts and ends phone calls. It also helps carriers manage traffic on mobile networks.

Revenue for the quarter that ended Sept. 30 fell to $108.3 million, down 6 percent from a year earlier, led by a decline in sales of older equipment in emerging markets. The company also posted a small loss, reversing a $9.4 million profit a year ago.

Skeptics sometimes say that Wall Street analysts are predictable animals that follow the pack. True cynics argue that their advice is best avoided.

With that said, it's still worth noting that on Wednesday, like clockwork, analysts from the four investment banks that took SciQuest public in September came out with initial ratings on the Cary technology company. They're required by securities regulations to wait 40 days after an IPO before releasing any reports.

Not surprisingly, all four say SciQuest's stock is a smart buy. Three of the analysts predict it will rise to $15, based on the company's healthy profit and revenue growth.

The shares, which began trading at $9.50 each, rose 83 cents today to $12.34.

SciQuest, which made a successful return to Wall Street in September, has expanded and extended the lease on its Cary headquarters.

The technology company will add about 13,000 square feet and occupy about 45,000 square feet in the building on Weston Parkway. The new lease with landlord Duke Realty runs through Jan. 31, 2017, according to a filing SciQuest made with the Securities and Exchange Commission.

SciQuest needs room for its expanding workforce. The company employs nearly 200 people and continues to hire software programmers, salespeople and more.

ChannelAdvisor has promoted one of its executives to handle more of the daily operations at the fast-growing Morrisville technology company.

David Spitz, right, who joined the company four years ago and is now chief operating officer, will take the title of president, and oversee global sales and marketing.

The move will give CEO and co-founder Scot Wingo, left, more time to spend with customers and "to chart the strategic path of the company," said spokeswoman Delisa Reavis.

ChannelAdvisor develops software and services that helps more than 3,000 retailers sell products online.

Charles & Colvard, which continues to rebuild its business, now is trying to attract renewed attention from Wall Street.

The Morrisville-based maker of moissanite gemstones announced this morning it has hired RJ Falkner, an investment research and financial communications firm. Falkner works with companies "to broaden their exposure within the investment community and expand the level of interest among investment professionals."

Charles & Colvard fell out of favor in 2008 and 2009 as it lost money, replaced management and revamped its operations. Its shares tanked, closing as low as 19 cents two years ago. No Wall Street analysts currently follow the stock, according to Bloomberg data.

The Morrisville company that sells lab-made moissanite gemstones reported its third consecutive profitable quarter.

Charles & Colvard announced this afternoon that third-quarter sales rose to $3 million, up 40 percent from a year earlier. The company's net income of $511,952 reversed a net loss of $569,367.

The company, which was hit hard as consumers cut back on discretionary spending during the recession, has slowly rebuilt its sales by adding new retailers in the U.S. and overseas. Its gems are used in fine rings, necklaces and other fine jewelry.

Cree's booming business in the LED lighting market is just gaining momentum, its top executive told shareholders and employees this morning.

LED lights, which use less energy and last longer than traditional bulbs, currently control about 4 percent of the $108 billion annual market for lights and lighting fixtures worldwide, said CEO Chuck Swoboda, during Cree's annual meeting at its Durham headquarters.

"That means 96 percent of the opportunity is still in front of us," he said. "We have to continue to innovate, drive adoption and lead the market."

IBM's board approved using as much as $10 billion to buy back the technology company's stock.

The move increases the amount authorized for stock buybacks to $12.3 billion. Since Sam Palmisano became CEO in 2002, the company has spent more than $68 billion buying its own shares, Bloomberg News reports. Buying back shares reduces the total number outstanding and is one way to return cash to stockholders.

New York-based IBM employs about 10,000 people at its Research Triangle Park campus, and its stock is owned by many employees and retirees in this region. It's also one of the most widely held stocks in the world.

IBM shares rose 65 cents to $140. 49 this morning. The stock is up 17 percent in the past year.

The revenue growth business software company SAS is seeing this year is being powered by new customers and existing customers buying new products.

Such "new sales" are experiencing "strong, double-digit growth" worldwide, including more than 20 percent in the U.S., chief marketing officer Jim Davis told a group of two dozen journalists this morning during the company's annual media day at its Cary headquarters.

Overall, SAS expects sales -- including renewal of existing software contracts -- to increase 5 percent this year, more than double the 2.2 percent growth of last year, when the recession put a damper on new sales.

Many workers worldwide believe they don't need to be in the office anymore to be productive, according to a survey commissioned by Cisco Systems.

About 60 percent of the 2,600 workers queried said working from the office is unnecessary for productivity. And 66 percent expect technology to allow them to access corporate networks and information anywhere, at any time.

Nearly half of the respondents admitted working up to three extra hours a day if they're able to connect from anywhere, but that they value having the flexibility to manage their work-life balance.

"Employee mobility is a fact of life," said Dave Evans, chief technologist with Cisco's Internet Business Solutions Group, in a prepared statement. "Work is not a place anymore. It's a lifestyle."