Acme Packet (APKT) stock is currently trading around $50 a share. On July 21, the company released its latest earnings and at the time raised its revenue outlook for 2011 for the second time this year. After forecasting $300 million in February, the company increased the outlook to a range of $310 million and $315 million in April; on July 21 the company raised the forecast to between $315 million and $320 million.
The company also increased its earnings-per-share outlook for 2011 to a range of $1.14 to $1.18, up from a range of $1.10 to $1.15.
The stock was near $65 when that earnings report was released. Today the stock is climbing, up 4.69 to 50.49. The chart below shows alot more room to move on the upside:
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