Tumbleweed Communications Corp. (TMWD) Rolls Forward With Improved Guidance; Stock Takes a Jump
Shares of Tumbleweed Communications Corp. (TMWD) spiked nearly 11% to $1.45 after the company announced today that it raised first-quarter revenue guidance to between $14.8 million and $15.4 million, up from between $13 million and $14.5 million. The Redwood City, CA-based company said it now expects a loss of 2 to 3 cents per share, down from its previous forecast of 4 to 6 cents loss per share. The Street expects an average loss of 2 cents per share on $14.1 million revenue. The company, which provides secure online communications services, also anticipates cash to reach $27.3 million at quarter…