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Stock Market & Financial Investment News

News Breaks
January 18, 2013
11:36 EDTLOGM01 Communique says LogMeln motion to dismiss patent suit was denied
01 Communique provided an update on its patent litigation against LogMeIn (LOGM). At the pretrial conference held yesterday a court date was set for March 18, 2013, according to 01 Communique. In addition, there were two hearings that took place Friday January 18. 01 Communique said its renewed motion for summary judgment on the issue pertaining to inequitable conduct was denied and LogMeIn's motion to dismiss the case for failure to join an indispensable party was also denied. "We remain confident in the merits of our case," said Andrew Cheung, President and CEO for 01 Communique.
News For LOGM From The Last 14 Days
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December 19, 2014
11:54 EDTLOGMRed Hat soars to 52-week high after beat and raise quarter
Shares of open source software solutions provider Red Hat (RHT) are rallying after the company’s third quarter results surpassed analysts’ consensus estimates and it raised its outlook for fiscal 2015. WHAT'S NEW: Last night, Red Hat reported Q3 adjusted earnings per share of 42c and revenue of $455.9M, topping analysts’ consensus estimates of 40c and $451.39M, respectively. Q3 subscription revenue was $395M, up 15% year-over-year, while operating cash flow of $133M was up 40% year-over-year. CFO Charlie Peters noted that strong performance in the quarter was driven by outstanding sales execution. He said, “performance this quarter with large deals was exceptional, setting new records in number of deals over $5M in a quarter and deals over $10M in a Q3.” Peters also announced his intention to retire in the next twelve months. WHAT’S NOTABLE: Looking ahead to Q4, Red Hat forecast EPS of 40c-41c and revenue of $456M-$459M, compared to consensus of 41c and $459.39M, respectively. The company raised its outlook for FY15 EPS to $1.57-$1.58 from $1.53-$1.55, versus consensus of $1.54. It also boosted the bottom end its FY15 revenue outlook to $1.78B-$1.79B from $1.77B-$1.79B, compared to the consensus of $1.78B. ANALYST REACTION: This morning, four research firms - Piper Jaffray, Stifel, UBS, and Oppenheimer - all raised their respective price targets on Red Hat. Each cited the company’s stronger than expected Q3 results. All four maintained a Buy or equivalent rating on the shares and among the four Oppenheimer took its price target up to the highest level, increasing its target on Red Hat to $80 from $74. PRICE ACTION: In late morning trading, Red Hat rose $6.98, or 11.4%, to $68.48 on nearly three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $70.13. Including today's advance, the shares have gained approximately 40% over the past 12 months. OTHERS TO WATCH: Other companies in the software and cloud space include Oracle (ORCL), LogMeIn (LOGM) VMware (VMW), and Microsoft (MSFT).
December 15, 2014
16:09 EDTLOGMLogMeln names Edward Herdiech as CFO
LogMeIn announced the promotion of Edward Herdiech to CFO and treasurer, effective January 15th, 2015. Having joined LogMeIn in 2006, Herdiech currently serves as the company's senior vice president of finance and principal accounting officer. Current LogMeIn CFO Jim Kelliher has resigned from his position to pursue an executive role at a Boston-area technology startup. Kelliher, who has served as CFO since May 2006, will assist Herdiech during the transition.

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