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EARLY MOVERS: Progress Software shares travel backwards before the bell, while Tesla still the focus

It's a fairly quiet start to Friday on the corporate front but Vail Resorts Inc also had results out
What's going on before the bell on Wall Street?

US stocks are poised to start in the red Friday, but gathering investor interest with gusto before the bell is Progress Software Corp (NASDAQ:PRGS).

The Massachusetts-based firm plunged 13.63% to $36.75 in pre-market after the company  posted mixed third-quarter earnings.

It generated earnings per share (EPS) of $0.60 in the three months, which was higher than the analysts' estimate of $0.58 per share.

But revenue in the quarter reportedly missed expectations, with the company reporting $95.8 million, versus $97 million expected by the scribes on Wall Street.

Also, in pre-market, Vail Resorts  Inc (NYSE:MTN) shares shed 3.8% before the bell to $275.25 after it unveiled a quarterly loss of $2.07 per share versus the consensus estimate of a loss of $2.31.

This compares to a loss of $1.43 per share a year ago.

In other news, Tesla (NASDAQ:TSLA) was back in the frame (when isn't it?), as it was reported that chief Elon Musk was being sued by the US Securities and Exchange Commission over his now-abandoned plan to take the company private.

Today, it has emerged that broker heavyweight Citi has downgraded the shares to sell from neutral, saying the stock is 'too risky.


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