Siebel Systems, Inc. (SEBL)

[Burpzilla]

Wheeeeee!

Siebel shares surge on upbeat third quarter outlook

By CBS MarketWatch
Last Updated: 10/4/2004 9:01:00 AM

LONDON (CBS.MW) - Shares of business software maker Siebel Systems rallied in the speculative pre-open trade on Monday after the company said its third quarter revenue and earnings will top the analyst forecasts.

Shares (SEBL) surged 19 percent to $9.75, building on an 8.6 percent gain in the stock on Friday. Rival PeopleSoft (PSFT) also early Monday said its third quarter sales would top analyst expectations for growth. See story

Siebel said it expects third-quarter of between $315 million to $317 million, ahead of Wall Street's current consensus estimate for 5 percent growth to $306 million.

The San Mateo, Calif., business software maker anticipates operating income for the period to range from $24 million to $26 million, also ahead of the analysts' average view, according to Siebel, of $20 million.

For the fourth quarter, the company said it remains comfortable with the current consensus forecast. The average estimate of analysts polled by Thomson First Call is for a profit of 7 cents per share in the December quarter.



© 1997-2004 MarketWatch.com, Inc.