Stock Watch: Strong Q1, Upgrade Send Manugistics Higher

Manugistics Group, Inc. (Nasdaq: MANU) surged 13 1/2 to 38 3/8 Thursday after reporting a 98 percent rise in first quarter license fees. An upgrade from buy to strong buy from Deutsche Bank Alex. Brown also helped the stock.

The Rockville, Maryland-based e-business software company reported a 29 percent increase in overall revenue for the quarter ended May 31st to $50.5 million. The company posted a net loss of $1.2 million, or 4 cents per share, compared with income of $400,000, or one cent, in the same quarter last year.

“Our continuing aggressive investments in strengthening and growing our sales organization, in marketing initiatives and in technology innovation are paying off,” said President and Chief Executive Officer Greg Owens.

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