Novell (NOVL) NewsBite - Novell Earnings Beats Estimates

Friday, August 29, 2008 10:58 AM EDT

Novell (NasdaqNM: NOVL) opened at $6.08. So far today, the stock has hit a low of $6.07 and a high of $6.31. NOVL is now trading at $6.25, up $0.24 (3.99%). The stock hit its 52-Week high of $8.10 in October and set its 52-Week low of $5.25 in August. Software maker Novell posted yesterday evening a widened loss of $15 million for its latest quarter due to a loss on securities. The company came with adjusted earnings of 6 cents per share on revenue of $245 million, while analysts forecast earnings of 5 cents per share on that basis, and revenue of $241.4 million. Technical indicators for the stock are neutral and S&P gives NOVL a neutral 3 STARS (out of 5) hold ranking. We will just watch this one for now. There are no hedged trades we like the look of for NOVL. [ABR-Seven Summits Strategic Investments NewsBite]

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