Lakeway, TX -- (SBWIRE) -- 02/15/2013 -- vbtrendreport.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
LogMeIn Inc (NASDAQ:LOGM), the maker of remote-access software has offered its outlook for the first-quarter results. The forecast is below analysts' expectations thanks to a higher tax rate.
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The tax rate is likely to be around 50 percent in the current quarter, much higher than the rate of 39 percent in the previous quarter.
LogMeIn expects its adjusted earnings to be between 9 cents and 10 cents per share on revenue in the range of $36 million to $36.5 million.
Analysts were modeling earnings of 18 cents per share on revenue of $38.2 million.
The company which mainly targets small businesses and consumers earned a net income of $2.2 million, or 9 cents per share in the fourth quarter, from $2 million, or 8 cents per share, in the year-ago period.
On an adjusted basis, the company earned 24 cents per share.
Revenue increased 14 percent to $37 million.
The Street had estimated earnings of 18 cents per share on revenue of $36.7 million.
Shares of the company slumped 28%.
Meanwhile, the board of directors of The Dow Chemical Company(NYSE:DOW) has approved a share buy-back program. It has authorized the repurchase of up to $1.5 billion of the company's common stock that can be made over time in the open market or through privately negotiated transactions.
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Andrew N. Liveris, Dows chairman and CEO said:
"This repurchase program underscores the board's confidence in Dow’s earnings, cash flow and growth potential as we continue executing against our strategic agenda, and illustrates our ongoing commitment to increasingly reward shareholders. Going forward, our three priorities for uses of cash will remain consistent: further deleveraging, returning value to our shareholders and investing for attractive, high-margin organic growth in our downstream businesses."
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