Gigamon Inc (NYSE:GIMO) had a remarkable 3Q, and the company said it expected to achieve even better results in the future. The addition of a new sales leader to the company and the rollout of new products are some of the catalysts that analysts have cited in the company.
Gigamon Inc (NYSE:GIMO), a $446 million provider of traffic control hardware, posted 3Q revenue of $39.3 million. That was 13% better than the previous quarter and 1% better than the same quarter in the previous year. The company reported GAAP net loss of $0.09 per diluted share, which was bigger than the net loss of $0.05 per share in the prior year. Buoyed by the encouraging top line figures, Gigamon Inc (NYSE:GIMO) provided forecast for its 4Q such that it expects revenue in the band of $41-$44 million.
Gigamon Inc (NYSE:GIMO) recently tapped Helmut Wilke to head its worldwide sales in the capacity of SVP. Wilke was hired away from Ixia (NASDAQ:XXIA), where he was VP of worldwide sales.
Analysts at Bank of America Corp (NYSE:BAC) upgraded their view on Gigamon Inc (NYSE:GIMO) to “Neutral” and raised target price to $16 from $5. The rating and price target adjustments came hot on the heels of the robust 3Q results. The firm cited a new sales leadership in the company and new product rollout as being behind its latest move on the stock.
Alpha Pro Tech, Ltd. (NYSEMKT:APT)’s shares are benefiting from two positive news items. First, the company announced that its 3Q revenue grew 4.1% to $13.20 million. It also said its EPS improved sequentially but remained flat YoY. As such, the maker of protective gear posted 3Q EPS of $0.05, which was $0.02 better than the previous quarter.
The other news item fueling Alpha Pro Tech, Ltd. (NYSEMKT:APT) is the latest Ebola update. A new Ebola case has been reported in the U.S. and this time around in the city of New York City. Alpha Pro Tech makes infections control gears that are suitable for handling of Ebola situations.
The discovery of a new Ebola infection case in the U.S. is having its influence on the stock of Ibio Inc (NYSEMKT:IBIO). The U.S. health officials confirmed that a doctor who traveled to West Africa to combat Ebola tested positive for the virus in New York City. Efforts are now being made to trace the movements of the doctor.
Ibio Inc (NYSEMKT:IBIO) owns a drug development technology that was recently extended to the government as part of the fight against Ebola. Investors are speculating that the company stands to gain as Ebola spreads.
