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Vignette Rises on Salomon Upgrade, Earnings Outlook


Vignette (VIGN) was up 12.2% in early trading after Salomon Smith Barney raised its rating on the stock to buy from outperform.

The business software company late Wednesday posted a loss of 4 cents a share, in line with lowered estimates and down from the year-ago profit of 1 cent. Revenue rose to $83.6 million, slightly higher than the analysts' consensus of $83.33 million and up from $77.13 million in the year-ago period.

The company said it could return to profitability as early as the fourth quarter, with a loss for the third quarter of between 1 and 2 cents a share. Analysts' are expecting a loss of 2 cents, according to

Thomson Financial/First Call

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was also up this morning, rising 9.8% in early trading. Late Wednesday, the business-to-business software company announced it was cutting 587 jobs, or 10% of its workforce, in an effort to more quickly return to profitability.