The DJIA inched higher today amidst a cool off from yesterday’s strong rally to start the year. The following companies experienced the most selling pressure in today’s trading action:
Acme Packet, Inc. : Acme Packet reduced guidance, with 2011 revenue of $308 million - $310 million against consensus of $318 million. EPS are brought down to $1.03-$1.05 against consensus of $1.14. Shares were down -19.21%. Alcatel-Lucent was also down -5.88% as networking equipment stocks crashed on the news.
Progress Software Corporation : With a reported EPS of $0.34 on revenue of $136 million, Progress Software has surpassed Q4 estimates. Progress has, however, lowered guidance for the first quarter, as it now faces an EPS of $0.25 on revenue of $120 million (less than consensus EPS predictions of $0.38 on $132 million in revenue). Shares fell -10.66%.
Qihoo 360 Technology Co Ltd : Fell -8.81% again another day after Chinese Premier Wen Jiabao warned of an economic slowdown.
National Instruments Corp : National Instruments shares were down following the company’s announcement of preliminary earnings estimates for Q4. Presently, the instrument maker predicts EPS landing within a range of $0.26 to $0.27, which is less than its earlier guidance of $0.29-.37. Shares fell by -7.05%.