Big Tech Earnings (SMSI, SNCR, ITRI, CAVM, MDAS)

Smith Micro Software Inc (NASDAQ:SMSI) after the Company released second quarter results. Revenues were $10.2 million compared to $16.1 million in the prior year period. Gross profit was $8.4 million compared to $12.5 million in the second quarter of 2011. GAAP net loss for the second quarter of 2012 was $6.8 million or $0.19 loss per diluted share compared to GAAP net loss of $7.8 million or $0.22 loss per diluted share in the second quarter of 2011. Shares of SMSI are up 6.20% to $1.73.

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Synchronoss Technologies Inc (NASDAQ:SNCR) increased 1.28% to $18.05. The Company reported second quarter EPS of $0.29, beating the analyst estimate of $0.26. Revenue for the quarter was $67.2 million versus the consensus estimate of $66.76 million. FBR Capital reduced the price target from $34.00 to $28.00. The firm currently has an outperform rating on the stock.

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Itron, Inc.(NASDAQ:ITRI) soared 10.20% to $42.18 after the company reported strong second quarter earnings propelled by higher margin. The company said that it earned $31.6 million, or 79 cents per share on revenue of $579.1 million, down from a year ago profit of $34.4 million, or 84 cents per share. On ana adjusted basis, the company earned $1.16  a share, well ahead of analysts’ target of 97 cents a share on revenue of $ $560 million. Gross margin improved by 2.30% to 34%.

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Cavium Inc (NASDAQ:CAVM) jumped up 14.16% to $31.45 after the Company posted second quarter results. Revenue increased 4.8% quarter over quarter to $55.3 million. Net loss was $11.8 million or $(0.24) per diluted share compared to $13.8 million or $(0.28) per diluted share in the first quarter of 2012. Gross margins were 55.2% in the second quarter of 2012 compared to 46.9% in the first quarter of 2012. Total cash and cash equivalents were $61.4 million at June 30, 2012.

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MedAssets Inc (NASDAQ:MDAS) surged up 19.46% to $15.34 after the Company posted second quarter results.  Net income was $2.3 million or $0.04 per share compared to net loss of $2.5 million or $0.04 per share in the prior year period. Total net revenue for the second quarter increased 10.6% to $163.0 million. However, analysts polled by Thomson Reuters expected the company to earn $0.22 per share on revenue of $151.46 million for the second quarter.