Seeking Alpha

Cray soars after reiterating guidance; SGI up in sympathy

  • 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.
Comments (1)
  • Seppo Sahrakorpi
    , contributor
    Comments (2022) | Send Message
     
    As expected, the drop after Q3 was simply due to short term minded analysts misunderstanding how Cray does business...
    7 Jan 2014, 11:06 AM Reply Like
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