Technology Gainers Boosted By Better Than Expected Quarterly Results: PLXT, TSCM
PLX Technology, Inc. (NASDAQ:PLXT) rose 22.06% up to $4.87 on news the company reported better than expected quarterly financial results, boosted by strong sales and cutting expenses. PLX reported that revenue rose to $26.6 million, and operating expenses were cut to $13.4 million, a decrease of 80%. Headquartered in Sunnyvale, California, PLX Technology, Inc. designs, develops, manufactures, and sells semiconductors. The product line consists of devices that accelerate and manage the transfer of data in microprocessor-based systems, including networking and telecommunications, storage, servers, personal computers. The integrated circuits are also applied in multi-function printers, DVD camcorders, portable media players, portable navigation systems, digital cameras, PDAs, and hard disks.
TheStreet.com, Inc. (NASDAQ:TSCM) jumped 28.97% up to $3.25 on news the lead financial media company reported financial results for the second and third quarters of 2009 and released better than expected estimates of certain fourth quarter results. “Bookings in our paid services have seen double-digit percentage increases in the second half of 2009 as compared to the prior year period, after having been down in the first half. As bookings are the precursor to higher paid services revenue, this positions us well for 2010. In addition to our strong bookings performance since mid-year, we are pleased that our subscriber counts have risen each quarter after March 2009”, said Daryl Otte, CEO. TSCM expects its balance of cash and marketable securities at December 31, 2009 will be approximately $82.7 million, an increase of $6.3 million from December 31, 2008. As of at December 31, 2009, the company had no debt. Headquartered in New York, New York, TheStreet.com, Inc. operates as an online financial media company in the United States. It provides video and digital platforms through TheStreet.com, RealMoney.com, Stockpickr.com, BankingMyWay.com, MainStreet.com, Rate-Watch.com, and Promotions.com sites.
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