Software exchange traded funds (ETFs) should get a lift Thursday from solid earnings and a bullish outlook from BMC Software (NasdaqGS: BMC).
The company after Wednesday’s closing bell said its fiscal fourth-quarter profit rose about 3% and offered a fiscal 2012 outlook that pleased Wall Street. BMC shares rose in after-hours trade Wednesday following the earnings release.
Evercore Partners analysts said BMC finished the fiscal year in impressive fashion and offered solid guidance.
“BMC delivered strong fourth-quarter results across almost any metric, with bookings, revenue, earnings per shaer, margin and cash flow upside relative to our expectations,” they wrote in a report. “The company’s ESM business appears well positioned to capitalize on the ongoing shift to distributed platforms at the enterprise level, with BMC’s Could Lifecycle Management offering highlighted throughout the call.”
BMC is a holding in Software HOLDRS (AMEX: SWH), PowerShares Dynamic Software (NYSEArca: PSJ) and iShares S&P North American Technology-Software Index Fund (NYSEArca: IGV).
Software HOLDRS
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