Earnings, Revenue Seen Missing
Informatica issued below-consensus preliminary results for the second quarter, citing weakness in Europe. Earnings were $0.27 to $0.28 a share on revenue, and revenue was $188 million to $190 million. Analysts had expected $0.37 and $217.2 million, respectively. INFA plunges 28 percent before the bell on my tradeMONSTER platform.
Xyratex Pops on Strong Margins
Xyratex earned $0.32 a share in the second quarter, beating the $0.29 average analyst estimate. Revenues missed, but investors are focusing on that strong margin improvement, sending XRTX higher by more than 5 percent in the premarket.
Seagate Hurt By Supplier Problem
Seagate Technology cut fourth-quarter guidance after a quality problem at a supplier slowed production. Revenue will now be just $4.5 billion, versus its previous estimate of $5 billion. STX drops 3 percent in early trading.
