Forecast Gives a Boost to StarBase Shares
(Dow Jones)
Shares of StarBase Corp. moved up Tuesday on anticipation that the company’s results for the fourth quarter will match expectations. The company is scheduled to report the financial results Thursday.
The stock, which climbed 13.8% on Monday, moved up an additional 14.4%, or 78 cents a share, on Tuesday to close at $6.06 in Nasdaq trading.
The Santa Ana software company is expected to post a loss of 1 cent a share on revenue of $5.4 million for the three months ended March 31, said Peter Jacobson, senior research analyst with Kaufman Bros. For the year-earlier period, the company lost 10 cents a share on revenue of $2.2 million.
Kaufman Bros. initiated coverage of StarBase in December with a strong buy rating.
