Informix' stock price rose by as much as 21 per cent yesterday due to optimism among the analyst community that the database supplier may report better fourth quarter earnings tomorrow than it has during the rest of the year.
The shares traded as high as $7 13/32, but finished at $7 3/8.
James Mendelson, an analyst at investment bank SoundView Financial Group, said investors were speculating that Informix might have a better than expected quarter, breaking even or even reporting a profit.
According to a recent analyst survey by Zacks Investment Research, Wall Street expects the company to turn in a $0.16 per share loss.
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