Tibco Software Inc. (NASDAQ: TIBX) rose more than 3% in Tuesday's pre-market tradin after Reuters reported that Hewlett-Packard Co had considered buying the business software company until two weeks ago when talks fizzled. Tibco has been the subject of takeout rumors for the past several years, yet the company has never disclosed that it has been in talks to sell itself.
After Monday's closing bell, Micrel, Inc. (NASDAQ: MCRL) lowered its revenue and earnings per share outlook for the first quarter ended March 31, 2011. Micrel now projects first quarter revenues will be in a range of minus 10% to minus 11%, compared with its previous guidance range, issued on January 27, 2011 of minus 2% to minus 6%. The shortfall in revenue is primarily a result of lower than expected sales to a device manufacturer in Korea that makes wireless handsets and other consumer electronic devices. This customer moderated product deliveries during the quarter to control inventory levels. In addition, Micrel also experienced a reduction in overall demand in March related to disruptions in the worldwide electronics supply chain due to the earthquake and tsunami in Japan. The Company also had a further inventory reduction by its sell-in (POP) channel partners as a result of the inventory over-build that took place in the last half of 2010. Based upon current demand estimates, the company expects second quarter 2011 revenues to grow sequentially over first quarter 2011 revenues.
WMS Industries Inc. (NYSE: WMS) late Monday reported preliminary results for the fiscal third quarter ended March 31, 2011. Based upon preliminary financial data, WMS expects total revenue to be approximately $191-to-$193 million, which is below the Company's third quarter revenue guidance range of $209-to-$215 million. WMS expects diluted earnings per share to be in a range of $0.40-to-$0.42 per share for the March 2011 quarter.
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