SAIC (SAI), the security and communications technology provider, posted fourth-quarter profit on Tuesday of $186 million, or 54 cents a share, a swing from a year-earlier loss of $161 million, or 49 cents a share.Analysts were looking for fourth-quarter earnings of 52 cents a share. Revenue was $2.71 billion, matching the estimates of analysts. SAIC said it expects fiscal 2014 revenue of $10 billion to $10.7 billion, below analysts' expectations of $10.81 billion. The company declared a special dividend of $1 a share, payable on June 28.
Ericsson (ERIC) is in talks to buy Microsoft's (MSFT - Get Report) IPTV business, which makes software used by phone companies to deliver television over the Internet, people with knowledge of the matter told Bloomberg. The transaction could be announced in a few weeks, said one of the people.
Software maker Red Hat (RHT - Get Report) is expected by analysts on Wednesday to post earnings of 30 cents a share in the fiscal fourth quarter on revenue of $349.6 million. 3 Tech Stocks Under $5 Spiking Higher
Paychex (PAYX - Get Report), the payroll processor, is expected to report third-quarter earnings of 39 cents a share on revenue of $592.6 million.
LogMeIn (LOGM), the remote-access services provider, said a federal jury decided in its favor in a patent-infringement case brought by 01 Communique.
-- Written by Joseph Woelfel
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