SGI Shares Soar 24 Percent on Strong Earnings

Data Center Knowledge (May 4 2011)

1. Shares of SGI soared 24 percent Wednesday after the maker of server and storage equipment reported another quarter of strong earnings, easily surpassing the expectations of Wall Street analysts. SGI stock was up $4.01 on the session to close at $20.49 , a gain of 24.3 percent, and has more than doubled in value since the start of 2011, when SGI traded at around $9 a share. The jump in SGI stock was prompted by a second consecutive earnings surprise. After the market closed Tuesday, SGI reported revenue of $143.7 million, up 33% from a year ago. (Read Full Article)

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