Friday, September 24, 2010

Tibco Software (TIBX) Surges on Earnings, Buys OpenSpirit

The bears had their 48 minutes of enjoyment late yesterday, back to business.  The Monday morning gap up is being joined by the Friday morning gap up.  After all, we cannot have this stock market under support ... it's urgent buyer time (he who buys SPY futures in premarket at any price just to make sure key technical levels are breached).  Further a famous "value" hedge fund manager was on CNBC this morning saying Ben Bernanke's QE will make every asset on Earth go up, and we had a decent durable goods order report.  Speaking of Bernanke's plan to make us all rich, the primary dealers are ready to help sky the market approx 10:15 AM as its another POMO morning.

So we're back to the "you can't lose" environment: good news = market goes up, bad news = QE = market goes up.  Sorry bears, you had your 15 48 minutes.

Tibco Software (TIBX) reported last evening, and the results were very pleasing to the Street as the stock was strong in after hours, and as of this moment look to be up 12% in premarket.   While long, we only have a tiny position as this was another name in the egregious camp.

Via Reuters:
  • Business software maker Tibco Software Inc (TIBX.O) posted better-than-expected quarterly results, helped by higher license revenue.
  • The company also said it bought privately held OpenSpirit Corp, which provides software for the global oil and gas market, for an undisclosed sum.
  • For the third quarter the company earned $17.4 million, or 10 cents a share, compared with $14.9 million, or 9 cents a share, in the year-ago period.  Excluding items, Tibco which makes programs that help computer systems communicate with each other and quickly analyze data, earned 17 cents.
  • Analysts on average were looking for earnings of 15 cents a share, on $175.8 million in revenue, according to Thomson Reuters I/B/E/S.

Guidance looks good per conference call:
  • Tibco told investors on a conference call that the company sees revenue for FY Q4 of $225 million to $230 million, nicely above the Street consensus at $216.3 million, and up sharply from the $184.5 million reported in Q3. The company sees non-GAAP profits for the quarter of 27-28 cents a share; the Street has been expecting 27 cents.

Long Tibco Software in fund; no personal position


Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012