Posts Tagged ‘Technology Stocks’

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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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URRE near top of gainers’ ladder, SIRI among most active, MVIS bruised

Tuesday, November 2nd, 2010

Uranium Resources, Inc. (NasdaqCM: URRE) tacked on an amazing 29.84 percent in price Tuesday to close at $1.67, on a whopping 7,192,195 shares, nearly six times its three-month average volume. The stock vaults into the upper end of a 52-week trading range that has peaked at 1.78, after bottoming out at 38 cents. The company, since its incorporation in 1977, has produced over 8 million pounds of uranium in Texas.

Cabela’s Inc Class A (NYSE: CAB) jumped 20.73 percent Tuesday to close at $22.07.  Share volume totaled 3,453,941, dwarfing its three-month total of 371,958.  Tuesday’s leap brings the stock toward its 52-week peak of $22.22, after bottoming out at $11.65. The specialty retailer and direct marketer of hunting, fishing and camping merchandise, announced on Tuesday that quarterly consolidated revenues increased 3.9 percent to $643 million, while retail revenue increased 6 percent to $369 million.

Microvision, Inc. (NasdaqGM: MVIS) suffered a drop in price Tuesday of 18.5 percent to close at $1.63. Share volume of 3,169,642 towered over its three-month average volume of 653,575 shares. The stock languishes near the basement of a 52-week trading range of $1.55, its peak around $4.11. The manufacturer of ultra-small  projectors (hence its name) Monday posted Q3 revenue of $1.3 million and a loss of 15 cents a share, falling 18 percent wider than the average analyst earnings estimate, according to Bloomberg.

Sirius XM Radio Inc. (NasdaqGS: SIRI) inched up nearly 2 percent to $1.56 Tuesday, on volume of 83,327,134 shares, slightly above its three-month average of 71,284,100. The satellite radio network is making its way toward a 52-week high of $1.59, its gulch for the year around 56 cents. Sirius XM already has announced that it has added 334,727 net subscribers during the third quarter. This brings their total subscriber totals to just less than 20 million.

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CFS, ARTG, IIIIU lead midday gainers parade Tuesday

Tuesday, November 2nd, 2010

Comforce Corp. (AMEX: CFS) advanced 51.86 percent to $2.46, as the clock approached noon ET, on 621,038 shares, compared to a daily average of 9,408 shares. The volume and sharp rise comes amid news that the company agreed to be taken over by an affiliate of ABRY Partners for $2.50 per share of common stock, a premium of approximately 77.4 percent over Comforce’s 30-day average closing stock price, and a 52-week high for the issue. Comforce Corporation is a leading provider of outsourced staffing management services.

Art Technology Group Inc. (Nasdaq: ARTG) leaped 45.37 percent by midday to $5.96, on volume of 59,981,921shares, towering above its three-month daily average of 1,135,700 shares, on the verge of an announcement that Oracle was about to buy ATG for $1 billion, thus adding the maker of e-commerce software to Oracle’s business-software offerings. Oracle will pay $6 a share, a 46 percent premium to Monday’s closing price and a level last seen in 2001 as the Internet bubble was still deflating.

Information Services Group, Inc. Units (Nasdaq: IIIIU) was ahead 24.48 percent to $3.86 nearing lunchtime in New York, on volume of 3,616 shares. The industry-leading information-based services company will release its third-quarter 2010 financial results on Tuesday, November 9. Neither the stock’s 52-week range nor average volume was available at press time.

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Fortinet, Inc. (FTNT) – Buzz Stock of the Day

Monday, November 1st, 2010

Shares of network security systems maker, Fortinet, Inc. (Nasdaq: FTNT) were up as much as 22 percent from Friday’s closing price in morning trading on Monday, after rumors of a takeover approach from International Business Machines Corp. (NYSE: IBM).

Although it has not yet been made public, discussions between the two companies may be at an advanced stage, though a deal could still fall apart, Bloomberg reported. IBM approached Fortinet six to eight weeks ago, a source told Bloomberg. The world’s largest computer services provider has spent more than $20 billion on 100 acquisitions since CEO, Sam Palmisano took over in 2002.
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Fortinet focuses on all-in-one network security systems, and has customers ranging from small businesses to large phone carriers. To date, Fortinet has shipped more than 500,000 appliances to more than 75,000 customers worldwide. The Sunnyvale-based company was founded in 2000, and went public last year.

The company was taken public by Morgan Stanley, J.P. Morgan and Deutsche Bank on November 17, 2009 and raised $156 million in gross proceeds. Fortinet rose 33 percent on its first day of trading and continued upward, ending the year up 41 percent, making it one of the top ten performing IPOs of 2009.

Fortinet’s profit increased almost two-fold to $14 million or 17 cents per share in the third quarter, up from $6.4 million, or 10 cents per share a year ago. Sales in the quarter were $85 million, a 29 percent increase over the same quarter last year. Analysts polled by Thomson Reuters had forecast earnings of 11 cents per share.

“We are very pleased with our third quarter results, which marks the fourth consecutive quarter as a publicly traded company that we have exceeded our expectations in terms of billings, revenue and profitability,” said Fortinet’s chief financial officer, Ken Goldman in a statement.

Shares of Fortinet, Inc. are up more than 97 percent over the past three months.

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Microsoft Corp. (MSFT) – Buzz Stock of the Day

Thursday, October 28th, 2010

Software giant Microsoft Corp. (Nasdaq: MSFT) reported strong profit and sales growth in its first fiscal quarter, driven largely by sales of its flagship Windows and Office software and the launch of the latest blockbuster Halo video game.

For its first fiscal quarter ended September 30, 2010, Microsoft reported EPS of 62 cents. Analysts on average were expecting earnings of 55 cents per share, according to Thomson Reuters. Operating income, and  net income a the quarter were $7.12 billion, $5.41 billion, which represented increases of 59 percent and 51 percent  respectively, when compared with the prior year period. Sales increased 25 percent to $16.2 billion, ahead of analysts’ $15.8 billion average estimates.
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“This was an exceptional quarter, combining solid enterprise growth and continued strong consumer demand for Office 2010, Windows 7, and Xbox 360 consoles and games,” said Peter Klein, chief financial officer at Microsoft in a statement. “Our ability to grow revenue while continuing to control costs allowed us to deliver another quarter of year-over-year margin expansion.”

Among the highlights were a 15 percent sales growth in Microsoft’s Office 2010 software, and a 38 percent increase in sales of Microsoft’s Xbox 360 game console.

“We ended up in this great sweet spot in business spending that was re-emerging after the downturn,” Microsoft’s general manager of investor relations, Bill Koefoed, said in an interview. Increased business spending “aligned just perfectly” with Microsoft’s product launches, according to Koefoed.

Revenue from Microsoft’s Windows division increased 66 percent to $4.8 billion. Office and other business software brought in $5.1 billion, a 14 percent jump, over last year. The group that makes server software reported a 12 percent increase in revenue to $4 billion. Microsoft’s online revenue, which comes primarily from search advertising,  was up  8 percent to $527 million.

The company reaffirmed its operating expense guidance of $26.9 billion to $27.3 billion for the full year ending June 30, 2011.

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