Thu, Oct. 1, 5:35 PM
Thu, Oct. 1, 5:09 PM
- In addition to missing FQ3 revenue estimates (while beating on EPS), Progress Software (NASDAQ:PRGS) is guiding for FQ1 revenue of $113M-$118M, below a $121.6M consensus. EPS guidance is healthier: $0.47-$0.51 vs. a $0.47 consensus.
- The enterprise software firm has also announced a $100M buyback, good for repurchasing 9% of shares at after hours levels.
- No explanation is given in the FQ3 report for the sales miss or guidance. License revenue rose 21% Y/Y to $31.8M; maintenance/services revenue rose 19% to $62.8M. GAAP operating expenses rose 36% Y/Y to $70.9M. Progress ended FQ3 with $218M in cash, and $144M in long-term debt. The deferred revenue balance stood at $131M.
- Shares have fallen to $22.29 after hours.
- FQ3 results, PR
Wed, Jul. 1, 4:43 PM
- In addition to beating FQ2 estimates, Progress Software (NASDAQ:PRGS) has guided for FQ3 EPS of $0.35-$0.38 (favorable to a $0.35 consensus) and FY16 (ends Nov. '16) EPS guidance of $1.45-$1.52 (above a $1.42 consensus).
- The app development software provider expects FQ3 revenue of $101M-$104M and FY16 revenue of $415M-$425M, in-line with consensus estimates of $103.2M and $419.2M.
- Also: Progress has promoted Jerry Rulli, until now president of the company's OpenEdge software unit, to the newly-created position of COO. He'll now be responsible for the operations of all 3 of Progress' business units - OpenEdge, data connectivity/integration, and app development/deployment. The presidents of the last two units will report to Rulli.
- Progress has risen to $29.70 AH.
- FQ2 results, PR
Tue, Jan. 13, 5:42 PM
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Dec. 12, 2013, 9:56 AM
- Intel (INTC +1.1%) has been upgraded to Neutral by Nomura. Citi and Drexel Hamilton upgraded shares last Friday.
- Micron (MU +2%) has been upgraded to Buy by Nomura. Shares fell yesterday following an MKM report stating SK Hynix's Wuxi, China fab will be operational sooner than expected.
- Xilinx (XLNX +1.7%) has been upgraded to Buy by Nomura. In addition, both Xilinx and rival Altera (ALTR +0.6%) have been started at Outperform by JMP.
- iRobot (IRBT +2.2%) has been upgraded to Neutral by JPMorgan.
- Synchronoss (SNCR +6.8%) has been upgraded to Strong Buy by Raymond James.
- Teradata (TDC -2%) has been cut to Sector Perform by RBC. Shares are making new 52-week lows.
- Texas Instruments (TXN -0.7%) and SanDisk (SNDK -2.3%) have been cut to Reduce by Nomura. TI provided an in-line mid-quarter update on Monday, while SanDisk fell in tandem with Micron yesterday.
- Sigma Designs (SIGM -17.8%) has been cut to Hold by Needham after missing FQ3 estimates.
- Progress Software (PRGS -7.5%) has been cut to Market Perform by JMP.
Sep. 25, 2013, 4:24 PM
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Jan. 3, 2013, 4:17 PM
Dec. 4, 2012, 5:01 PMTibco (TIBX) -14.7% AH after warning it expects to report FQ4 (ended Nov. 30) revenue of $292M-$295M and EPS of $0.37-$0.38, below a consensus of $316M and $0.44. Tibco blames a mix of soft government spending, Sandy-related deal delays, and poor execution in its infrastructure (i.e. middleware) business, particularly in the Americas. The FQ4 report arrives on Dec. 20. It could be a rough day for enterprise software stocks tomorrow: QLIK -3.7%. PRGS -1.4%. RHT -2.3%. INFA -1.1%. CTXS -1%. ORCL -0.9%. SAP -0.8%. | Dec. 4, 2012, 5:01 PM | Comment!
Oct. 18, 2012, 12:25 PMProgress Software (PRGS +6.1%) pops after announcing a deal to sell 4 product lines to private software firm Trilogy Enterprises for $114M. Progress says the product lines have generated $83M in sales this year, and that their divestment will leave only two more lines to be sold as part of the company's efforts to rid itself of "non-core" offerings. (CEO resignation/guidance withdrawal) | Oct. 18, 2012, 12:25 PM | Comment!
Oct. 8, 2012, 9:06 AMProgress Software (PRGS) -8.1% after announcing CEO Jay Bhatt is resigning as of Dec. 7, and withdrawing its guidance for FQ4 (Nov. quarter) constant currency Y/Y revenue growth of -2% to +1%. Phil Pead, previously non-executive chairman, has been named executive chairman while a search begins for a new CEO. (PR) | Oct. 8, 2012, 9:06 AM | Comment!
PRGS vs. ETF Alternatives
Progress Software Corporation is asoftware company that simplifies the development, deployment and management of business applications on-premise or in the cloud, on any platform or device, to any data source.
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