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Stocks to Watch: VeriFone, Mentor Graphics (Update 1)

NEW YORK -- VeriFone Systems (PAY), the electronics payment technology company, on Thursday provided a third-quarter outlook below analysts' expectations.

VeriFone forecast non-GAAP earnings of 68 cents to 70 cents a share for its fiscal third quarter ending in July on revenue ranging from $495 million to $500 million.

Analysts are expecting profit of 70 cents a share on revenue of $502.2 million.

Shares of Verifone fell 8.49% in premarket trading Friday to $41.18.


Mentor Graphics (MENT) is expected by analysts Friday to report fiscal first-quarter earnings of 24 cents a share on revenue of $254.9 million.

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Infoblox (BLOX), the network-automation company, topped Wall Street's estimates in its first quarterly results since going public in April.

Infoblox posted third-quarter revenue of $43.4 million, up from $31.8 million in the same period last year, and above analysts' estimates of $41.4 million.

Excluding items, Infoblox earned 5 cents a share, compared with a loss of 3 cents a share a year earlier. Analysts were looking for earnings of 1 cent a share.

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Semtech (SMTC), the semiconductor company, on Thursday posted first-quarter profit that came in below Wall Street estimates.

For the second quarter, Semtech said it expects to post adjusted earnings of 37 cents to 45 cents a share on sales of $146 million to $154 million.

Analysts forecast earnings of 41 cents a share on sales of $149.1 million.

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-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

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