RDWR finally has its day, just after the tax loss selling is over. Coincidence? I doubt it.
08:45 ET ******
Radware Ltd. (RDWR) 43 1/8: Shares of provider of Internet traffic management solutions is likely to get a lift this morning after the company said that it expects to record a modest profit in Q4. This is great news, considering that the company was expected to record a break-even quarter in Q4. Radware also said that it expected Q4 revenues to exceed $4.9 million, a gain of more than 170% over last year and 35% on a sequential basis. Already on Instinet, shares of Radware are trading up by about 4 points even though the company files with the SEC for a follow-on offering of 2.5 million of its ordinary shares, with half this amount being offered by shareholders. The company went public on September 30, 1999, offering 3.5 million shares at $18 per share, with the offering underwritten by Salomon Smith Barney. While the initial reaction was mixed, with the stock only doubling in price after one month (this is considered to be so-so performance for a company operating in the internet space), the stock did manage to catch the attention of investors by the early part of November, with the stock rising to a high of $87 per share. Since then, however, the stock has been back-tracking, falling under $45 in the last few days. However, with today's news that a modest profit is anticipated for the final quarter of the year, the stock is rebounding in pre-market trading, although the company had been making strides towards the profitability level in each of the past couple of quarter, recording only a small loss of $60,000 (or $0.01 per share) on revenue of $3.6 million in Q3. - RN
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