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
TheStreet Open House

Advent Soars, Integrated Leaps: Tech Winners & Losers

NEW YORK (TheStreet) –– Advent Software (ADVS) shares rose 8.3% to $33.83 following yesterday’s release of better than expected second-quarter earnings.

The company, which makes software for investment management firms, earned 38 cents per share on $100.4 million in revenues last quarter, a 4.5% revenue increase year-over-year. Analysts polled by Thomson Reuters expected Advent to earn 34 cents per share on $97.8 million in revenues. Advent issued third quarter revenue guidance between $99 million and $102 million, in line with analysts’ expectation of $101.8 million. Its full year revenue guidance of $395 million to $403 million is also in line with the current $398.8 consensus.

"We are pleased to report that Advent had an excellent second quarter with record revenues, robust profitability, and growing operating cash flow," said CEO Pete Hess in the press release. "Increasing demand for Advent's solutions, including Advent Direct Investor Management, and continued client loyalty are evidence of our strong competitive position."

Read More: Oracle Plunges: What Wall Street's Saying

Advent ended the quarter with $41 million in cash, down from $45 million last quarter. It reduced its outstanding debt to $280 million from $295 million last quarter.


Shares of Integrated Device Technology (IDTI) shot up 12.8% to $15.26 after reporting earnings that exceeded expectations.

For the first quarter of its 2015 fiscal year, which ended June 29, IDT reported revenues of $126.3 million, up 6.5% from last quarter and 7.5% year-over-year. Analysts were expecting revenues of $124.97. The company earned 17 cents per share, up from 14 cents last quarter and 7 cents one year ago. Analysts expected 16 cents per share.

"We are off to a strong start in fiscal 2015 with our first fiscal quarter results demonstrating consistently improving financial performance across all key metrics," said CEO Greg Waters. "Underpinning these results was strength and market share gains across all of our end markets; revenue from our Communications, Computing, and Consumer end markets all grew sequentially in the quarter." He added, “Looking ahead we are confident in our ability to continue executing on our growth strategy with all key areas of our business contributing to that growth.”

IDT also revealed in the report that LG Electronics had built an IDT wireless power receiver into its G3 smartphone. According to the press release, LG and IDT “worked together closely to integrate the chip, which delivers a compact size and simplified application circuit.”

Founded in 1980, IDT is based in San Jose and designs and manufactures semiconductors.


Oracle (ORCL) shares rose 0.8% to $40.86 after slashing its compensation to its CEO.

According to a regulatory filing released Monday, Oracle granted founder and CEO Larry Ellison 3 million stock options, less than half of the 7 million he has received in previous years. Other Oracle executives saw similar reductions on Monday. For example, co-presidents Mark Hurd and Safra Catz each saw their stock options drop to 2.25 million from 5 million.

Some Oracle shareholders have periodically opposed Ellison’s compensation. In October of last year, 57% of Oracle shareholders voted for the second year in a row against a “say on pay” proposal, which would allow shareholders to vote on executive compensation. 59% voted against the same proposal in 2012. Labor groups had encouraged shareholders to try to curb what they deemed was excessive compensation to Ellison, regardless of the stock’s performance.

Ellison’s annual salary is one dollar; he receives the rest of his pay in stock options. According to Oracle’s most recent proxy statement, he owns more than 1.1 billion shares, or 25% of Oracle’s stock. His compensation in the company’s fiscal year ended May 31, 2013 was $76.9 million; Oracle’s share price rose about 28% during that period. Forbes estimates Ellison’s net worth at $50.3 billion, making him the third-richest person in the United States and the fifth-richest in the world. Oracle could not be reached for comment.


CommVault Systems (CVLT) shares rose 4.1% to $51.48 following the release of strong earnings.

In its fiscal 2015 first quarter, which ended June 30, CommVault earned 44 cents per share on $152.6 million in revenues. This represents a 14% revenue increase year-over-year and a 3% decrease sequentially. Analysts surveyed by Thomson Reuters expected revenues of $150.97 million. Software revenue increased 10% year-over-year and decreased 9% sequentially, while services revenue increased 17% year-over-year and 4% sequentially.

"We began fiscal year 2015 with a solid first quarter, which was highlighted by year-over-year revenue growth of 14% and year-over-year operating cash flow growth of 44%. Our year-over-year revenue growth was driven by a record percentage of enterprise software revenue (software transactions greater than $100,000), a record average enterprise deal size and solid results from our services organization," said CEO N. Robert Hammer in the press release. “Given the many opportunities ahead of us, we will continue to aggressively invest for growth throughout the remainder of fiscal 2015.”

CommVault, headquartered in New Jersey, makes data management and information management software. In June 2014, it won the 2014 Microsoft (MSFT) Server Platform Partner of the Year Award for “demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.” In May, the company announced that it had extended a 15-year agreement with Microsoft to “provide new, highly scalable solutions for managing and protecting data in Hyper-V virtual environments, managing workloads in Microsoft Azure, and new integration for Exchange, Office 365, SharePoint, and SQL Server applications.”


Shares of Medidata Solutions (MDSO) jumped 17.6% to $46.06 after its quarterly earnings beat company records.

Medidata, which provides cloud-based solutions for clinical research in life sciences, reported its second quarter 2014 results this morning. Revenues reached a record high of $83.2 million, a 22% increase year-over-year. Subscription revenue also increased 22% year-over-year, to $68.9 million, also a record. The company earned 17 cents per share, down from 18 cents per share a year earlier. Analysts expected the company to earn 17 cents per share on 81.90 million in revenue.

"Medidata's track record of strong growth, profitability and successful innovation gives us great confidence in our future ability to grow and extend our lead in the industry," said CEO Tarek Sherif. "Our market opportunity is significant and we are successfully executing on our near- and long-term plan. Reflecting on Medidata's performance this quarter, we continue to benefit from many of the same positive trends we have seen over the past 18 months.” He added, “Our ability to innovate and expand the breadth and relevance of our platform is fueling greater interest and awareness of our solutions across the globe and is contributing to our growing pipeline of opportunities."

Medidata ended the quarter with $418.5 million in cash and marketable securities, nearly quadruple the amount from a year earlier, “primarily due to net proceeds from the convertible senior notes issued during 2013 and strong cash flows over the past year.”

Read More: Why Integrated Device Technology (IDTI) Stock Is Advancing Today

--Written by Laura Berman in New York

>Contact by Email.

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from Bankrate.com

  • 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