Diamonds and Dogs
02/07/2013
Akamai Technologies Inc. (AKAM)Akamai is falling from its cloud today, down 15.20% at $35.26. The cloud infrastructure company saw shares crash after missing on revenue in its earnings. For the fourth quarter, Akamai announced that revenues increased 17% to $378 million. Although this is a good increase in revenue it missed analysts' estimates of $382 million. Akamai is trading in the middle of its 52-week range of $25.90-$42.53. In other news, the company also announced its board has authorized a $150 million extension of its share buyback program.
True Religion Apparel Inc. (TRLG)
True Religion is gaining followers today, up 22.11% at $29.00. The worldwide apparel company saw its shares explode after beating on both the top and bottom lines. True Religion announced revenue of $137.0 million beating analysts' estimates of $129.1 million. The company also beat on earnings per share, announcing an EPS of $0.55, which again beat forecasts of $0.53 per share. True Religion moved up $5.25 today, but is still well off of its 52-week high of $37.38.
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