Sign up Canada
Proactive Investors - Run By Investors For Investors

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.


No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use