Cray soars after reiterating guidance; SGI up in sympathy

|About: Cray Inc (CRAY)|By:, SA News Editor

Cray (CRAY +14.4%) states it expects to achieve prior 2013 revenue guidance of ~$520M (slightly above a $519M consensus), and is maintaining 2014 revenue guidance of ~$600M (above a $596.3M consensus). (PR)

Given Cray's big Q3 miss and general concerns about supercomputer/HPC hardware sales to U.S. federal clients (hurt by the shutdown), investors are treating the announcement the way they'd treat a guidance hike from other firms.

Rival SGI (SGI +6.2%), which has also been hit hard by U.S. federal weakness, is rallying in sympathy.