Boston, MA 03/27/2014 (wallstreetpr) – Cyan Inc (NYSE:CYNI) has announced a new chief of finance after the holder of the office resigned over what were termed “personal reasons.” The networking software company named Jeff Ross its new CFO, taking over from Mike Zellner who bolted from the company for unelaborated reasons. Coming to CYNI, Mr. Ross recently worked at Velti PLC where he served in a similar capacity. Mr. Zellner, who left the company, was there when Cyan went public last May. On top of unveiling the new CFO, the company stated that it expects revenue in the current quarter to come at or above the top line of its previously announced guidance. Talk about guidance and the company announced revenue range of $16 – $18 million, within the $17 million consensus. Shares of Cyan Inc (NYSE:CYNI) gapped up 4.74 percent to $4.20, having hit the range of $4.11 – $4.43 during Wednesday session.
Oculus Innovative Sciences, Inc. (NASDAQ:OCLS) was among the beneficiaries of the mistaken identify in relation to the recent Facebook Inc (NASDAQ:FB) acquisition. The story goes that Facebook inked a deal with Oculus VR, a privately-held company which makes gaming headsets. However, due to the name mix-up, two other Oculus companies gained as investors went on a buying spree. Oculus Innovative which makes medical products and Oculus VisionTech which deals in watermarking digital contents gained on the mistaken identity during Wednesday trading. The name mix-up helped Oculus Innovative Sciences, Inc. (NASDAQ:OCLS) to distance itself from a pattern of losses which it has known in the recent days. Shares of the company spiked 5.51 percent to $4.79 by closing bell.
AOL, Inc. (NYSE:AOL) has announced a new digital platform through which it hopes to offset the troubles in its subscription business. The newly unveiled advertising platform will enable companies buying digital advertisement to transact easily and effectively as though in an e-commerce environment. The platform will knit together the company’s various technologies. According to the CEO Tim Armstrong, advertising revenue is turning out to be the main focus for AOL, Inc. (NYSE:AOL). Investors made good of the news and took shares up 3.74 percent to close at $43.83 during Wednesday session.