Progress Software (Nasdaq: PRGS) Halted; Cuts FYQ2 View

Orlando, FL 6/8/12 (StreetBeat) – Shares of developer software tools maker Progress Software (Nasdaq:PRGS) have been halted in late trading pending a new announcement.

The last quote for the stock was unchanged at $20.29.

Update: The company warned its revenue and profit for the fiscal Q2 that ended last month would fall well below expectations thanks to disruption caused by the company’s announcement of strategic restructuring back on April 25th, and also “overall weakness in the global economy.”

Progress forecast revenue last quarter of $110 million to $115 million, and EPS in a range of 17 cents to 19 cents a share.

That is below the $124 million and 26 cents the Street had been anticipating.

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Progress (Nasdaq:PRGS) Q1 outlook misses street view, shares down 9

Orlando, FL 1/4/12 (StreetBeat) --Business software maker Progress Software Corp (Nasdaq: PRGS) forecast first-quarter earnings below analyst expectations, as some of its customers continue to delay investments amid macroeconomic uncertainties, sending its shares down as much as 9 percent in trading after the bell.

"The company is facing execution challenges and its markets are softening, also it is trying to be conservative in its guidance," Analyst Steve Koenig of Longbow Research said.

Progress Software expects to post earnings per share of 25 cents, on revenue of $120 million, for the first quarter ending Feb 29.

Analysts, on average, expect the company to earn 38 cents a share on revenue of $132 million, according to Thomson Reuters I/B/E/S.

For the fourth quarter 2011, Progress Software posted earnings of 34 cents a share, compared with earnings of 47 cents a share a year ago. Revenue fell 6 percent to $136.3 million.

Shares of the company were trading down $1.50 at $18.30 in post market trading. They had closed at $19.80 on Tuesday on Nasdaq.

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LargeCap Stocks to Keep an Eye on Today

Tomahawk, WI 9/27/2011 (PennyPayDay) – KEYW Holding shares are plunging 17.5% to $8.25 in premarket trading Tuesday after the cybersecurity services firm disclosed the loss of a systems integration contract to a competitor.

"While the award of the Aura contract to a competitor is disappointing, we continue to see abundant opportunities for continued high growth," said Leonard Moodispaw, the company's president and CEO, in a statement.

Progress Software is expected by analysts to report third-quarter earnings of 29 cents a share, down from year-earlier earnings of 37 cents.

Shares were rising 5.4% to $20 in premarket trading.

Airline shares were rising as Ticonderoga Securities lifted its third-quarter earnings outlook for the airline sector. Improved revenue and lower fuel costs were among the reasons cited for the move.

AMR was gaining 3.5% to $3.58; U.S. Airways was rising 1.1% to $6.50; and Delta Air Lines was ahead by 1.5% to $8.42.

Drugstore chain Walgreen reported fourth-quarter profit of 57 cents a share vs. the average analyst estimate of 55 cents.

Shares were rising 2.9% to $37.07 in premarket trading Tuesday.

Electronic manufacturing services company Jabil Circuit is expected by analysts to post fourth-quarter earnings of 56 cents a share after the markets close Tuesday vs. 52 cents a year ago. Shares were rising 2.8% to $17.20.

Goldman Sachs is preparing to expand cost-cutting by hundreds of millions of dollars, a move that could lead to additional job cuts, The New York Times reported.

Shares were rising 1.7% to $100.82.

Organic chemical products company Huntsman said its Textile Effects division plans to undergo "significant" restructuring, including the possible closure of its production facilities and business support offices in Basel, Switzerland, as part of an ongoing program aimed at improving its long-term competitiveness.

Shares were up 0.3% to $10.70.

Management consulting firm Accenture is expected to report fourth-quarter earnings of 88 cents a share, compared with year-earlier earnings of 66 cents.

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