Stock Watch: Vignette’s Earnings Spark Dramatic Rise

One of the biggest Wall Street winners on Thursday was Vignette (Nasdaq: VIGN), which develops software that helps e-commerce businesses manage customer relationships. Shares of Vignette soared more than 32.5 percent on Thursday, climbing 38-3/4 to an all-time closing high of 157-3/16, one day after the company reported its third-quarter results.

Vignette had third-quarter revenues of $24.2 million, a 457 percent increase over the $4.3 million reported for the third quarter of 1998. The company had a net loss of $4.8 million, or 19 cents per share, two cents better than the consensus estimate of analysts. On Thursday, Banc of America raised its rating on the stock from buy to strong buy.

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