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Loudcloud Jumps After Raising Guidance

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was up 23.8% to $3.90 in premarket Instinet action Tuesday, a day after the company beat analysts' third-quarter estimates and guided Wall Street higher.

After the close Monday, the company posted a third-quarter loss of 62 cents a share, topping estimates by 8 cents.

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For the fourth quarter, the company projected revenue of $15.5 million to $15.7 million and a loss of 55 cents to 56 cents a share.