Harbinger rides 3Q optimism to another strong gain

E-commerce software developer Harbinger Corp. (Nasdaq: HRBC) scooted up 1, or 7 percent, to 14 7/8 Monday after telling analysts it expects to meet or beat Street estimates in its third quarter.

On Friday, company officials predicted the Atlanta-based company also said the outlook for its fourth quarter is also favorable.

First Call consensus predicts Harbinger will earn 9 cents a share in its fourth quarter.

"We do not foresee any negative trends in revenues and expenses that will cause us to question financial expectations for the fourth quarter," said CEO C. Tycho Howle in a prepared release. "The evidence suggests that the market for our core business-to-business e-commerce is strong and indications are that our growth in these products and services is accelerating."

Harbinger shares moved up to a 52-week high of 16 1/8 in July after falling to a low of 3 1/2 in October.

Even though most analysts are expecting better-than-expected sales from business-software firms this quarter, seven of the 13 analysts following the stock rate it a "hold."