This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tech Stocks in Motion

Shares of Progress Software (PRGS) were among technology's losers Tuesday, tumbling 10% after the company issued a weaker-than-expected guidance and announced plans to buy Neon Systems (NEON).

Progress reported fiscal fourth-quarter earnings of $14 million, or 33 cents a share, up from $15.9 million, or 28 cents a share, a year earlier. Excluding certain items, the software company earned $16.3 million, or 38 cents a share, on an adjusted basis, beating analysts' estimate by a penny. Revenue rose to $108 million from $96.2 million a year earlier, topping Wall Street's forecast of $105.8 million. But for the first quarter, Progress sees adjusted earnings of 29 cents to 31 cents a share, below analysts' expectation of 32 cents. The company expects revenue of $103 million to $105 million, compared with Wall Street's target of $105 million. For the full year, Progress sees adjusted earnings of $1.45 to $1.51 a share, and revenue of $435 million to $445 million. Analysts project earnings of $1.51 a share and revenue of $444 million.

Separately, Progress agreed to pay $6.20 a share to buy Neon, a maker of mainframe integration products. The price represents a 43% premium to Neon's Monday closing price of $4.35. The deal is valued at $68 million. Shares of Progress Software were trading down $3.30 to $27.89, while Neon shares jumped $1.78, or 41%, to $6.13.

Amkor Technology (AMKR) increased its fourth-quarter sales and margin forecasts, citing stronger-than-expected demand and improved factory utilization. The provider of semiconductor assembly and test services now expects revenue to rise 13% to 15% from the third quarter, compared with its earlier guidance for 6% to 8% sequential growth. Based on the third-quarter top line of $549.6 million, the new forecast suggests revenue of $621 million to $632 million. Analysts polled by Thomson First Call have an average estimate for revenue of $589.8 million. Amkor improved its gross margin projection to 22% to 23% from 19% to 20%. The company's shares were up 62 cents, or 11%, to $6.23.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs