CMGI Inc. (CMGI) Stock Soars on Earnings
Shares of CMGI Inc. skyrocketed Tuesday morning after the supply-chain and inventory-management software provider posted a first-quarter profit that widely exceeded Wall Street's expectations.
The stock added $2.24, or 21.7 percent, to $12.57 in late-morning trading.
On Monday, CMGI reported first-quarter earnings of 18 cents per share while analysts expected 10 cents per share, according to a poll by Thomson Financial.
WR Hambrecht analyst Robert Stimson kept his "Buy" rating and $22.50 price target, more than double Monday's closing price of $10.33.
The stock added $2.24, or 21.7 percent, to $12.57 in late-morning trading.
On Monday, CMGI reported first-quarter earnings of 18 cents per share while analysts expected 10 cents per share, according to a poll by Thomson Financial.
WR Hambrecht analyst Robert Stimson kept his "Buy" rating and $22.50 price target, more than double Monday's closing price of $10.33.
posted by Stock Administrator @ 2:15 PM
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