Posts Tagged ‘mgic’

WSP goes skyward , BAC active, MGIC heads south

Monday, December 20th, 2010

WSP Holdings Limited (NYSE: WH) moved higher 33.65 percent in price Monday to $1.39. Volume of 2,025,559 shares proved about 20 times its full-day average, as the Chinese drilling pipe manufacturer said its subsidiary received about $91.8 million in new orders.

Bank of America Corp. (NYSE: BAC) was a volume leader Monday, trading in 61,883,919 shares, making progress against its daily average of 214,418,000. Share prices for BAC inched 0.84 percent up to $12.68. AEGON USA Realty Advisors, LLC and Bank of America Merrill Lynch today announced that they have entered into a formal agreement in which BofA Merrill Lynch will utilize AEGON’s commercial real estate lending expertise and significant industry relationships to source new lending opportunities.

Magic Software Enterprises Ltd. (Nasdaq: MGIC) took a header in price, 11.80 percent Monday to $6.74, on volume of 1,908,951 shares, or more than triple its full-day average. The Israeli global provider of cloud and on-premise enabled application platform and business integration solutions today announced that it entered into definitive agreements, to sell securities to institutional investors in a private placement for aggregate gross proceeds of approximately $21.2 million.

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Magic Software Enterprises Ltd. (MGIC) – Buzz Stock of the Day

Wednesday, November 3rd, 2010

Shares of Magic Software Enterprises Ltd. (Nasdaq: MGIC) were up as much as 28 percent from Tuesday’s closing price in mid-day trading on Wednesday after the company announced that it tripled its third quarter operating profit.

Shares of MGIC touched a new 52-week high of $3.72 on Tuesday, up from $2.90 at Monday’s close.

For the third quarter the Israel-based software maker reported net income of $2.5 million, or 8 cents per share on revenue of $22.4 million. This compares to profit of $900,000 or 3 cents per share on revenue of $13.5 million a year earlier. Operating income was $2.5 million, or 8 cents per fully diluted share, for the third quarter of 2010, compared to operating income of $800,000 or 3 cents per share, a year earlier.
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“I am very pleased to report robust growth and continued improvement in all our operations for the third quarter,” said Magic Software’s acting CEO,  Guy Bernstein in a statement. “This has been driven by greater demand for our professional services and improved license sales of our uniPaaS RIA application platform among enterprises and independent software vendors worldwide.”

Magic Software Enterprises sells applications designed for electronic business, customer relationship management, and other enterprise uses. The company also also provides maintenance, technical support and professional services. The company’s customers include Merrill Lynch Bank, ING Commercial Finance, and UPS Supply Chain Solutions.

Shares of Magic Software Enterprises are up 42 percent in the past month.

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