Stocks get Curb Stomped - Except Sonus Networks (SONS)
Straight out of American History X - the majority of stocks were brutally curb stomped today.
But not the VOIP stocks, they are all the rage in 2011.
Shares of Sonus Networks (NASDAQ:SONS) increased 33.33% today, Sonus Networks is a provider of infrastructure for VOIP.
Vonage (NYSE:VG) shares are up 167% YTD. The move for Sonus was due to their Q4 Earnings call. Here's what you need to know:
- Shares jumped 33% in trading today after announcing better-than-expected Q4 earnings and 2011 guidance.
- Revenue in Q4 grew 21% from the year-ago quarter, a big surprise compared to the consensus forecast of basically flat revenue.
- Guidance for 2011 calls for revenue growth of 6% to 14% and suggests the year could be slightly profitable.
Mastery Bottom Line: A 33% gain in one day is pretty huge, so look for a slight pullback in Sonus if you're thinking about adding shares to your portfolio. If they can continue to exceed analyst estimates, shares should continue to move upwards.
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