Progress Software to Post Stronger-Than-Expected Results

Progress Software  (PRGS) – Get Report shares on Tuesday were higher after the business-application-technology developer said it expected to report fiscal-third-quarter results better than Wall Street analysts had estimated.

Separately, the company said it definitively agreed to acquire Chef Software of Seattle for $220 million cash.

For the quarter ended Aug. 31 the Bedford, Mass., company estimates adjusted earnings of 75 cents to 78 cents a share. That’s up from its previous estimate of 69 cents to 71 cents.  

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