Avocent Corporation (NASDAQ: AVCT) makes connectivity and management products for information technology (IT) infrastructure. Offerings include analog and digital keyboard, video, and mouse switching systems; serial connectivity devices; various extensions; and remote access devices. These allow IT administrators to manage servers, serially controlled devices, wireless devices, desktop computers, and mobile devices from a single console, providing network management and administration. Clients include Dell (NASDAQ: DELL), Hewlett-Packard (NYSE: HPQ) and IBM (NYSE: IBM).

Investors were pleased late last month, when the firm announced that it would cut about 5% of its global workforce, in order to focus on areas of growth. The restructuring will involve the reduction of certain R&D efforts and the transfer of some support operations to a recently established regional hub in Singapore. As a result of the changes, management boosted Q2 revenue guidance from $150-$154 million to $155-$158 million ($152.17M consensus).

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Avocent Corporation (AVCT): Shares define bullish 'pennant' pattern originally appeared on BloggingStocks on Thu, 10 Jul 2008 12:30:00 EST. Please see our terms for use of feeds.