Digi International Inc. (NASDAQ:DGII) shares soared 10% to $14.29 after creating a new 52-week high of $14.33 earlier in the session. This morning, analyst at Piper Jaffray started a coverage on the stock with an overweight rating, citing it believes Digi’s broad machine-to-machine communication offering, it’s smart grid fleet tracking and monitoring and remote storage tank management, and its consumer exposure will spur double digit revenue growth over the next three years.
KB Home (NYSE:KBH) shares are rebounding after falling as much as 15 on Wednesday’s session following the company said that it had a net loss of $68.5 million, or 89 cents a share on revenue of $271.7 million in its fiscal second-quarter, missed analyst estimates of a loss of 31 cents on revenue of $257 million.
Xyratex Ltd. (NASDAQ:XRTX) late Thursday said that it turned to second quarter loss of $4.6 million or $0.15 a share, compared to a year ago profit of $43.7 million or $1.39 a share.
On an adjusted basis, the company had a net loss of $1.9 million or $0.06 a share, missed analyst estimates of break even for the quarter.
Shares of XRTX slumped 6.40% to $9.61.
Cirrus Logic, Inc. (NASDAQ:CRUS) shares climbed 5.91% to $16.84 on high volume after analyst at Needham reiterated its Buy rating on the stock with a price target of $24 a share.
The firm said that it believes that the company’s stock price are likely to find a bottom at current levels and that it believes the supply chain suggests upward revisions on Apple’s iPad forecast. It also said it maintains its conviction that the company’s first-quarter results and guidance are not likely to be negative.
