Blue Coat Systems (BCSI) reported second quarter EPS of $0.29 after the bell Tuesday, which topped the consensus estimate of $0.26. The company expects to report third quarter EPS of $0.31 to $0.36, compared to the consensus estimate of $0.31.
Blue Coat Systems gapped up slightly Wednesday and rose sharply in early trade. The stock settled into a range for the majority of the session, but finished up by $1.60 at $27.27 on above average volume. Shares climbed past resistance Wednesday and set a new high for the year.
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