Today’s Key Takeaway: Magnum Hunter Resources (MHR), Straight Path Communications (STRP), Cyberark Software (CYBR)

Posted In Business, Technology - By Maria Lyons On Thursday, September 25th, 2014 With 0 Comments

Dallas, Texas 09/25/2014 (ustradevoice) – Magnum Hunter Resources Corp (NYSE:MHR) is high on positive production news for its new well that went online last weekend. The update signals potential uptick in revenue for the $1.20 billion company. Investors loved the news, and shares edged up more than 10% early Thursday on the production update report. Analysts expect the company to come up with revenue of $126.53 million for the current quarter (3Q2014). The revenue estimate for the current quarter compares with $73.03 million a year ago. Magnum Hunter Resources (MHR) issued its 2Q results last month. It generated revenue of $132.56 million, which was 60% better than the previous year and better than the estimate by 15%. Its adjusted loss of $0.10 per share was better than the estimated loss of $0.17 for the quarter.

Straight Path Communications Inc (NYSEMKT:STRP), through its subsidiary known as Straight Path IP Group, Inc. (Straight Path), has brought up a lawsuit against iPhone maker, Apple Inc. (AAPL). The lawsuit claims that Apple has and continues to infringe on Straight Path’s technologies that feature on FaceTime software. Straight Path further claims that the technologies in question have been used in Mac and iDevices manufactured by Apple (AAPL). Straight Path Communications Inc (NYSEMKT:STRP) has two wholly-owned subsidiaries, Straight Path Spectrum and Straight Path. Straight Path Spectrum deals with holding and leasing of wireless spectrum in the 39 GHz and 29 GHz band.

Cyberark Software Ltd (NASDAQ:CYBR) climbed to a new high of $35.88 early Thursday, marking its second and successful day since IPO debut Wednesday. With the gains already registered on the stock so far, it stands as the 8th best performing IPO this year, at least so far. Cyberark Software (CYBR) offers products that protect organizations from cyber attacks. There have been widespread attacks on organization data systems in the recent times. Many organizations have increased their data protection spending, which is good news for cybersecurity companies like Cyberark Software Ltd (NASDAQ:CYBR). The company recorded 2013 revenue as $66.2 million, which was 40% better than the previous year.

About the Author

- Maria Lyons graduated from the University of Chicago with a degree in Communication and Philosophy.

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