Systems management software company BMC Software (BMC) was up 3.2% in midmorning, recovering from a drop of 3.7% early in the session.
The company said late Thursday it would cut about 6% of its workforce, or about 440 jobs, and take a $14 million charge, but also said it was raising its revenue forecast. BMC said it was roughly on target to meet analysts' earnings expectations for the fourth-quarter and the fiscal year.
today said it was reiterating its strong buy recommendation and added "we think distributed and mainframe revenues were strong." BMC is scheduled to post results April 24.