FVC delisted, signs deal with Big Blue

Good news and bad coming out of First Virtual Communications in recent days. On the bad news front, the company's stock has been delisted from the Nasdaq stock exchange because it failed to file its results on time. FVC says it can't file them until a "special investigation" into irregular accounting in its Asia operations has been complete. An extension for the filing period was denied, so for now, FVC's stock is in limbo.

On the good news front, FVC has signed a deal with IBM "that will enable our existing and future software products to inter-operate with software products of IBM," according to an 8-K filing with the SEC. It can't be a bad thing when you can dip into the pockets and/or resources of an IBM.