Progress Software Corporation - Common Stock (PRGS)
57.63
+0.30 (0.52%)
Progress Software Corporation is a global software company that specializes in developing application development and deployment solutions, data integration, and management tools
The company offers a comprehensive suite of software products that enable organizations to create, deploy, and manage applications efficiently across multiple platforms. Progress Software's offerings include advanced data connectivity solutions, application development frameworks, and tools for modernizing legacy systems, ultimately helping businesses to enhance their operational agility, streamline processes, and improve customer experiences. The company serves a diverse range of industries, providing technology that supports both traditional and cloud-native environments.
Progress Software Corp shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results for the third quarter.
After the market ended at a fresh record on Monday, traders have positioned themselves for more gains. The index futures are modestly higher early Tuesday. China, the second largest economy in the world, decided to go bold, with the nation’s central bank announcing a series of stimulatory measures. This has sent commodities soaring, given China is a commodity-guzzling country.
Progress Software to acquire ShareFile for $875 million. Dividend suspended for debt repayment and future M&A. Progress anticipates revenue and adjusted EPS for its fiscal third quarter to be within or above the high end of previously issued guidance.
Uncertainties related to global macroeconomic conditions are a persistent concern for participants of the software industry. However, there are some that are positioned well to gain from the accelerated digital transformation drive across the globe.
Wall Street experienced a mixed session on Wednesday, as investors adopted a cautious stance following Tuesday’s gains while awaiting key economic data releases later this week, including the Fed’s preferred inflation report due on Friday.
