Progress Software (PRGS) Falls on Q3 Earnings

Progress Software Corporation PRGS shares tumbled 9.3% to $23.24. Progress Software reported stronger-than-expected earnings for its fiscal third quarter. However, the company reported downbeat quarterly revenue and lowered its revenue forecast for the full year. The company also announced a new $100-million buyback program. Share volume was 905,000, compared to an all-day average of 244,000