Top Tech Stocks
Technology stocks were slightly higher as a group today with
shares of technology companies in the S&P 500 advancing about
In company news, Progress Software (
) rose Friday after the cloud-based enterprise software firm
reported fiscal Q2 earnings and revenue that beat analyst
projections and forecast per-share net income for the current
quarter exceeding the Wall Street consensus.
PRGS shares recently were ahead nearly 8% at $23.98 each,
earlier climbing to a session high of $24.81 a share. The stock has
a 52-week range of $20.06 to $26.95 a share, adding about 3.5% in
value over that 12-month span.
The company reported net income from continuing operation of
$12.8 million, or $0.25 per share, during the three months ended
May 31, up from $8.1 million during the same quarter last year.
Excluding one-time items, it earned $0.37 per share, topping the
Capital IQ consensus by $0.03 per share. Revenue declined 1.1% year
over year to $80.8 million, still beating estimates by around $2.04
The company is projecting adjusted per-share earnings in a range
of $0.32 to $0.35 during the current quarter ending July 31,
topping analyst expectations by at least $0.01 per share. Revenue
is seen in a range of $78 million to $81 million, bracketing the
Street view looking for $79.74 million in Q3 revenue.
PRGS also is expecting adjusted EPS of $1.38 to $1.45 on between
$331 million to $338 million in revenue for the 12 months ending in
January. Analysts, on average, are expecting a $1.38 per share
annual profit on $326.85 million in revenue.
In other sector news,
(+) AWRE, (+14.6%) Declares special cash dividend of $1.75 per
share, payable July 24 to shareholders of record on July 10.
(-) ANAD, (-20.1%) Forecasts Q2 revenue declining about 33% from
year-ago levels to $23 mln, trailing consensus view by $2.52 mln.
Sees non-GAAP net loss improving from $0.14 loss last year to $0.10
per share, but still $0.01 wider than estimates.