On Wednesday, Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD), lost -0.49% to $12.30.
The data storage devices company beat analysts’ estimates for earnings in the fiscal second quarter.
Brocade stated earnings of 22 cents a share for the second quarter, above analysts’ estimates of 20 cents a share for the quarter. Revenue grew 1.9% year over year to $547 million for the quarter, but below analysts’ estimates of $551.33 million.
Looking to the fiscal third quarter, Brocade anticipates earnings of 21 cents to 23 cents and revenue of $540 million to $560 million. Analysts expect earnings of 22 cents and revenue of $561.4 million for the quarter.
The company also raised its quarterly dividend by 29% to 4.5 cents a share from 3.5 cents a share. The new dividend is payable on July 2 to all shareholders of record as of the close of business on June 10.
About 4.4 million shares of Brocade were traded by 12:49 p.m. Friday, above the company’s average trading volume of about 3.9 million shares a day.
Brocade Communications Systems, Inc. provides storage area networking (SAN) and Internet protocol networking solutions for businesses and organizations worldwide. It operates through SAN Products, IP Networking Products, and Global Services segments.
Looking at the sectors faring best as of midday Wednesday, shares of Technology & Communications companies were outperforming other sectors, up 1.8%. Within the sector, Broadcom Corp. (NASD: BRCM) and Avago Technologies Ltd (NASD: AVGO) are two large stocks leading the way, showing a gain of 16.3% and 6.9%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (AMEX: XLK), which is up 1.6% on the day, and up 5.98% year-to-date. Broadcom Corp., meanwhile, is up 26.26% year-to-date, and Avago Technologies Ltd is up 39.92% year-to-date. Combined, BRCM and AVGO make up about 1.4% of the underlying holdings of XLK.
Moreover, Shares of Groupon, Inc. (NASDAQ:GRPN), declined -1.08% to $6.40, during its last trading session.
Groupon, Inc. operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount worldwide. It also offers deals on products for which it acts as the merchant of record.
At the end of Wednesday’s trade, Shares of Cigna Corp. (NYSE:CI), gained 0.77% to $134.94.
Technology leader Samsung Electronics Co. Ltd., together with global health service company Cigna, recently declared a new version of the Coach by Cigna mobile application that features the psychology of lateral assessment to identify your personality type, understands your wants, needs and preferences, and provides the right programs to assist with diet, exercise, sleep, stress and weight.
Coach by Cigna is accessible at no charge in the Google Play store for Samsung Galaxy S6, S6 Edge, Galaxy S5, Galaxy Note 4 and Note Edge mobile devices.
“Samsung is committed to providing our users with mobile health solutions that go above and beyond what is presently accessible in the market,” said Yong Jin Lee, head of Health R&D Group at Samsung Electronics. “By partnering with Cigna, we can put advanced health technology into the hands of our users, making our applications a fun and integral part of their everyday lives.”
“Cigna is all about finding effective ways to assist people achieve healthier, more secure lives,” said Cigna Global Head of Channel and Partnership Marketing, Heather Valteris. “We tested, we learned and now we’re putting our expertise into our next generation of Coach by Cigna. With less than 20 simple questions, we can get to know your style, your preferences and the best ways to meet you where you are and assist get you to where you want to be.”
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. The company’s Commercial segment offers insured and self-insured customers medical, dental, behavioral health, and vision, in addition to prescription drug benefit plans, health advocacy programs, and other products and services.
The Toronto stock market posted a solid advance Wednesday as the heavily weighted financial sector got a boost from the first round of Canadian bank earnings.
After a triple-digit pullback Tuesday, the S&P/TSX composite index closed up 59.66 points at 15,110.47 after adjusted earnings from both the Bank of Montreal and National Bank surprised on the upside and both raised their quarterly dividend.
Citizens Financial Group, Inc. (NYSE:CFG), ended its last trade with 0.26% gain, and closed at $26.77.
Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. It operates through two segments, Consumer Banking and Commercial Banking.
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