BANGALORE, July 29 (Reuters) - Shares in business software company i2 Technologies Inc. (ITWO.O: Quote, Profile, Research) surged about 70 percent on Friday after it posted surprisingly strong second-quarter results, prompting rating and price target upgrades. The company, whose common stock was re-listed on the Nasdaq in July, on Thursday reported earnings of $31.5 million or $1.66 a share compared with earnings of $11.9 million or 62 cents a share for the year-ago quarter. According to Reuters Estimates, two analysts on average had forecast a loss of 23 cents a share, excluding items, for the latest second quarter.
In late morning trade on the Nasdaq, Dallas-based i2 was up 70 percent at $22.13.
On Friday, CIBC World Markets raised its rating on the stock to "sector performer" from "sector underperformer," while JMP Securities raised its price target to $28 from $15 and reiterated a "strong buy" rating on the stock.
Tote leben manchmal länger!
|