European Slowdown Is Blamed
Verifone Systems released preliminary results for its first quarter ended Jan. 31, and they weren't good. Earnings will be no more than $0.50 and revenue no more than $430 million. Analysts had expected $0.73 and $494 million, respectively. Management cited weakness in Europe and delayed customization projects. PAY craters 35 percent before the bell on my tradeMONSTER platform.
Constellation Gains on Potential Settlement
The Justice Department and Anheuser-Busch InBev are looking to settle their anti-trust case out of court. That's good news for Constellation Brands, whose takeover of the lucrative Corona brand was delayed by the squabble. STZ is popping 6 percent on the news in early trading.
Pegasystems Crushes Street Forecasts
Pegasystems earned $0.65 a share, crushing the $0.33 average analyst forecast. Revenue of $143.8 million also blew past the $122.6 million estimate, and guidance was strong. That has PEGA up 19 percent in the premarket.
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