Neutral Tandem, Inc. (IQNT), Mindspeed Technologies Inc. (MSPD) & More: Technology Stocks Start May With A Bang

Today’s opening bell saw the market start the trading in the red. The S&P500 fell from the historical high of 1597,57 reached yesterday, as signals of slower growth have emerged following the release of job data by the ADP Research Institute. While the market participants are eagerly waiting for the statement of the Federal Open Market Committee, which is to be released at 2:00 PM let’s have a look at the top  price gainers in the early hours of the trading session.

The list of price gainers is topped by Neutral Tandem, Inc. (NASDAQ:IQNT). The shares are up 35%  after the earnings report beat analysts’ estimates of both revenues and profit. The company announced adjusted Earnings Per Share (EPS) of $0.21 and revenues of $69.7 million. Although the EPS is the same as the figure reported for the first quarter of 2012 and the revenue has decreased by 1.41%, Neutral Tandem, Inc. (NASDAQ:IQNT) beat Wall Street’s estimates of $-0.01 per share and $65.65 million in terms of revenue.

Mindspeed-Technologies-Logo1

Another technology stock, Mindspeed Technologies Inc. (NASDAQ:MSPD), is up 26% in the early hours of trading. Having reported earnings of -$0.02 per share, with revenues registering a modest 0.11% increase to $35.4 million, the company beat analyst expectations. Furthermore, Mindspeed Technologies Inc. (NASDAQ:MSPD) announced the hiring of Morgan Stanley & Co. LLC as financial adviser to explore the alternatives available to them.

Another stock performing well this morning is Synacor, Inc. (NASDAQ:SYNC).  The provider of Next-Gen Startpages, cloud Identity Management (IDM) and TV Everywhere solutions on various devices and platforms has today announced the further development of their collaboration with Verizon to facilitate the access of Verizon customers to their FiOS TV service. Synacor, Inc. (NASDAQ:SYNC) stock has registered an increase of 24% by 10:30 AM.

Cloud services provider, Brightcove, Inc. (NASDAQ:BCOV), has yesterday presented their earnings report. The company has announced a loss, but still beat Wall Street’s estimates. According to their SEC filing, Brightcove have registered a 23.87% increase in revenues to $24.7 million, with EPS of $-0.06. In contrast, the analysts were expecting EPS of $-0.09 and revenues of $23.78 million. This prompted a 24% increase in the price of Brightcove, Inc. (NASDAQ:BCOV) shares, during the first hours of trading.

Although tech stocks have monopolized the list of gainers, one company which engages is production of industrial equipment and goods – Mueller Water Products, Inc. (NYSE:MWA) – has managed to get itself among the day’s top  gainers. The management has today held an investor conference to announce their financial results for the first quarter of 2013. The figures have exceeded expectations with regard to both revenues and earnings per share. Analysts have estimated EPS of $0.02 and revenues of $270.81 million, while Mueller Water Products, Inc. (NYSE:MWA) has registered EPS of $0.04 and revenues of $283.1 million (a 12.5% increase with respect for Q1 of 2012). This has boosted the stock price to $6.87 – a 16% increase – by 11 AM.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!