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Packeteer Regroups After Failed Breakout.(B)(NASDAQ STOCKS IN THE NEWS)
Byline: JONAH KERI
Packeteer broke out of its 3 1/2-month base Oct. 28. The stock quickly reversed back below its pivot point. But Packeteer held above its 50-day moving average and has consolidated for the last four weeks, setting up a possible second handle or new base. It's 8% off its high.
The maker of Internet traffic management software has posted year-over-year sales growth of 28% to 37% the last five quarters. Earnings have climbed by triple digits in the last three quarters. CEO David Cote has leveraged his sales and marketing background to grow the company since taking over for former ...
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