Posts for Ticker ‘PRGS’

52-Week High Club (GOOG, JBL, PRGS)

Google Inc. (NASDAQ: GOOG) rose close to 0.5% to a yearly high of $601.50, carried by the momentum of the market.

Jabil Circuit Inc. (NYSE: JBL) rose over 14% to a yearly high of $17.13 after the electronics manufacturer announced a first quarter profit of $0.32 per share, beating analyst estimates.

Progress Software Corporation (NASDAQ: PRGS) rose over 10% to a yearly high of $28.50 after the business software developer announced earnings of $0.61 per share, beating analyst estimates.

Garrett W. McIntyre

Posted on: December 22, 2009 – 4:07 pm in Software, Technology Companies, , , ,

Top Analyst Upgrades & Downgrades (BKD, SNH, AMZN, AAUK, CENX, EBAY, PRGS)

Money_stack_picThese are some of the top pre-market analyst upgrades and downgrades we have seen from Wall Street this Friday morning with more than two hours until the market opens:

  • Brookdale Senior Living (NYSE: BKD) Started as Outperform at Oppenheimer.
  • Senior Housing (NYSE: SNH) Started as Outperform at Baird.
  • Amazon.com (NASDAQ: AMZN) Cut to Market Perform at Bernstein.
  • Anglo American (NASDAQ: AAUK) Cut to neutral at UBS.
  • Century Aluminum (NASDAQ: CENX) Cut to Market Perform at FBR.
  • eBay (NASDAQ: EBAY) Cut to Market Perform at Bernstein.
  • Progress Software (NASDAQ: PRGS) Cut to Hold at Needham.

Jon C. Ogg
December 19, 2008

Posted on: December 19, 2008 – 7:27 am in Analyst Calls, , , , , , ,

Progress Acquires IONA Technologies (PRGS, IONA)

Progress Software Corporation (NASDAQ: PRGS) and IONA Technologies plc (NASDAQ: IONA) are going to see active trading today.  Progress is acquiring IONA in a cash buyout of $162 million and approximately $106 million net of cash and marketable securities reported on March 31, 2008.  This will bring a cash buyout price of $4.05 per share for IONA holders.

The offer price per share is approximately 16% over the average price for IONA shares over the six months prior to the offer period announced by IONA on February 8, 2008.  Unfortunately, the 52-week trading range is $2.01 to $6.28.

IONA Technologies’ board of directors unanimously approved the merger and each IONA Technologies director has entered into an agreement to vote in favor of the transaction. The merger is subject to regulatory approval in the US and in Ireland and is also subject to IONA shareholder approval.  Once approved, the merger is expected to close in Q3-2008.

Progress Software is a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications.  IONA Tech is an established supplier of software integration technology.  The companies have both signed a definitive agreement to further the merger.  IONA is based in Dublin, Ireland, so it looks like we have yet another cross-border tech and IT merger.

IONA shares are trading up 9.4% at $3.94 in pre-market trading.

Jon C. Ogg
June 25, 2008

Posted on: June 25, 2008 – 8:35 am in Mergers and Buy Outs, Software, ,

Pre-Market Stock News (June 19, 2007)

(ALTH) Allos Therapeutics trading down 20% after its Phase III study of Efaproxyn failed to meet primary endpoint of improvement in overall survival.
(BAY) Bayer raised guidance on Schering integration.
(BMY) Bristol-Myers: FDA Grants Priority Review for Bristol-Myers Squibb’s Investigational Oncology Treatment Ixabepilone.
(BTU) Peabody Energy was named Cramer’s favorite pick in the coal sector.
(CLRK) Color Kinetics trading up 11% at $33.00+ on $34 buyout from Philips Electronics.
(CPKI) California Pizza Kitchen trades ex-split today to reflect a 3-2 stock Split.
(CUB) Cubic received a $468 million contract to give mission support to Army readiness training center.
(DAL) Delta is considering a 125 Boeing order for Dreamliners.
(DJ) Dow Jones may get a bid from billionaire Ron Burkle.
(EXPE) Expedia buying back $3.5 Billion in stock.
(FDS) FactSet $0.52 EPS vs $0.51 estimate.
(GE) GE buying controlling stake in natural gas pipeline Regency for $603 million.
(INO) Inovio Biomedical’s selective electrochemical tumor ablation therapy demonstrated safety, tolerability, and complete responses in breast cancer study.
(LNET) LodgeNet noted positively by Cramer on Mad Money.
(MRO) Marathon Oil trades ex-split today to reflect a 2-1 stock split.
(PRGS) Progress Software $0.45 EPS vs $0.41e.
(STR) Questar trades ex-split to reflect a 2-1 stock split.
(SGMO) Sangamo BioScience reached milestones in agriculture collaboration with Dow AgroSciences.
(SIRI) SIRIUS signed Volkswagen as standard equipment on all Touareg, New Beetle, New Beetle Convertible, GTI, and GLI sales for the 2008 models.
(TASR) TASER announced foreign order for 1,375 devices.
(TSN) Tyson making product announcementthis morning.
(YHOO) Yahoo! trading up 8% after Semel stepped down as CEO and co-founder Jerry Yang came back as CEO; Semel remaining non-executive Chairman.
(ZGEN) ZymoGenetics entered a global collaboration pact with Bayer for development and commercialization of recombinant human thrombin.

Jon C. Ogg
June 19, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: June 19, 2007 – 7:11 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , , , , ,