2.31%C 7.40 5.37%QQQQ 27.81 2.83%
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NEW YORK - The stock of Syniverse Holdings Inc., which provides a range of services to wireless carriers, jumped Tuesday after the company beat estimates with its latest results.
| SVR | 9.11 |  -0.85 |
Shares of the Tampa, Fla., company gained $1.90, or 12 percent, at $18.31 in early afternoon trading.
Late Monday, Syniverse reported second-quarter earnings of $20.4 million, or 30 cents per share, on revenue of $127.6 million.
Excluding items, it earned 42 cents per share. Wall Street analysts had on average been expecting the company to report a profit of 37 cents per share on $117.2 million in revenue, according to Thomson Financial.
The company raised its sales projection for the year by $30 million to a range of $485 million to $495 million.
Analyst Peter Jacobson at Brean Murray Carret & Co. raised his price target on the stock by $1 to $23 based on the upgraded forecast, and kept a "Buy" rating.
Syniverse "remains well-positioned to capitalize" on increased use of wireless devices worldwide, Jacobson wrote.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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