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Advent Soars, Integrated Leaps: Tech Winners & Losers

Tickers in this article: ADVS CVLT IDTI MDSO MSFT ORCL

NEW YORK ( TheStreet) –– Advent Software shares rose 8.3% to $33.83 following yesterday’s release of better than expected second-quarter earnings.

The company, which makes software for investment management firms, earned 38 cents per share on $100.4 million in revenues last quarter, a 4.5% revenue increase year-over-year. Analysts polled by Thomson Reuters expected Advent to earn 34 cents per share on $97.8 million in revenues. Advent issued third quarter revenue guidance between $99 million and $102 million, in line with analysts’ expectation of $101.8 million. Its full year revenue guidance of $395 million to $403 million is also in line with the current $398.8 consensus.

"We are pleased to report that Advent had an excellent second quarter with record revenues, robust profitability, and growing operating cash flow," said CEO Pete Hess in the press release. "Increasing demand for Advent's solutions, including Advent Direct Investor Management, and continued client loyalty are evidence of our strong competitive position."

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Advent ended the quarter with $41 million in cash, down from $45 million last quarter. It reduced its outstanding debt to $280 million from $295 million last quarter.

Shares of Integrated Device Technology shot up 12.8% to $15.26 after reporting earnings that exceeded expectations.

For the first quarter of its 2015 fiscal year, which ended June 29, IDT reported revenues of $126.3 million, up 6.5% from last quarter and 7.5% year-over-year. Analysts were expecting revenues of $124.97. The company earned 17 cents per share, up from 14 cents last quarter and 7 cents one year ago. Analysts expected 16 cents per share.

"We are off to a strong start in fiscal 2015 with our first fiscal quarter results demonstrating consistently improving financial performance across all key metrics," said CEO Greg Waters. "Underpinning these results was strength and market share gains across all of our end markets; revenue from our Communications, Computing, and Consumer end markets all grew sequentially in the quarter." He added, “Looking ahead we are confident in our ability to continue executing on our growth strategy with all key areas of our business contributing to that growth.”

IDT also revealed in the report that LG Electronics had built an IDT wireless power receiver into its G3 smartphone. According to the press release, LG and IDT “worked together closely to integrate the chip, which delivers a compact size and simplified application circuit.”

Founded in 1980, IDT is based in San Jose and designs and manufactures semiconductors.

Oracle shares rose 0.8% to $40.86 after slashing its compensation to its CEO.

According to a regulatory filing released Monday, Oracle granted founder and CEO Larry Ellison 3 million stock options, less than half of the 7 million he has received in previous years. Other Oracle executives saw similar reductions on Monday. For example, co-presidents Mark Hurd and Safra Catz each saw their stock options drop to 2.25 million from 5 million.