Archive for the ‘Consumer Discretionary Stocks’ Category

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Kandi Technologies Corp. (KNDI) wins contract, stock ignites

Monday, July 11th, 2011

Kandi Technologies Corp. (Nasdaq: KNDI) shares rose 27.9% to $2.34. The Chinese electric-vehicles manufacturer said it signed an agreement with Hangzhou Electric Vehicle Service Co. to work with it on a municipal government electric-vehicle pilot program. Volume for the shares totaled 757,000, or better than double its daily average.

A news release issued July 11 stated that Hangzhou., a professional service company affiliate of State Grid Corporation, is assisting the local municipal government in launching the 20,000 pure electric vehicle pilot program for Hangzhou consumers through the end of 2012. Hangzhou Electric Vehicle Service Co. also manages the local State Grid “Express Change” battery service network.

Under the agreement, Hangzhou Electric Vehicle Service Co. will ensure that the service network being built by State Grid will support Kandi’s technical requirement and infrastructure needs, while permitting efficient and effective operation of Kandi’s EVs.

The same release quoted Kandi CEO Xiaoming Hu as saying, “We are very pleased to announce our newest strategic partnership with Hangzhou Electric Vehicle Service Co. This cooperative agreement will form a solid foundation for consumers’ access to Kandi’s pure electric vehicles in the Hangzhou market.”

Kandi Technologies, Corp. is a manufacturer and exporter of a variety of vehicles in China, making it a world leader in the production of popular off-road vehicles.

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Hot Topic Inc. (HOTT) sales gains drive stock higher

Thursday, July 7th, 2011

Hot Topic Inc. (Nasdaq: HOTT) shares jumped 12.1% Thursday to $8.32. The teen retailer had a 0.4% gain in same-store sales when a decline was expected. Volume for the stock totaled 1.7 million shares, when a day usually passes with trades around 692,000.

On Wednesday, figures were released which showed net sales came in at $100 million in June. In addition, Hot Topic, Inc. announced today that on July 5, its Board of Directors declared a regular quarterly dividend of $0.07 per share payable on August 1, to shareholders of record at the close of business on July 18.

Management of the chain was not available for comment.

Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts. Hot Topic offers music/pop culture-licensed and music/pop culture-influenced apparel, accessories, music and gift items for young men and women principally between the ages of 12 and 22.

Torrid offers apparel, lingerie, shoes and accessories designed for various lifestyles for plus-size females principally between the ages of 15 and 29. As of July 2, 2011, the company operated 639 Hot Topic stores in all 50 states, Puerto Rico and Canada, 146 Torrid stores, and Internet stores www.hottopic.com and www.torrid.com.

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Monster Worldwide Inc. (MWW) is just that, let it BeKnown

Tuesday, June 28th, 2011

Monster Worldwide Inc. (NYSE: MWW) shares rose 10.6% to $15.01, a day after the company announced the launch of BeKnown, a networking app designed to allow Facebook users to establish a professional network and find career opportunities. Volume for the stock was 4.6 million shares, outdistancing a daily average of 3.1 million.

The company, based in Maynard, Massachusetts, put out a press release Monday saying that with BeKnown, users can seamlessly identify and connect with friends and professional contacts from multiple sources and grow their professional network, enhance their online professional identity and discover enriching career opportunities.

BeKnown is now available for download at http://apps.facebook.com/beknown in 19 different languages, and is accessible by any Facebook user.

Monster Worldwide’s Chief Information Officer Darko Dejanovic was quoted in the same release as saying, “BeKnown answers the need and challenge in the marketplace for people to build their professional networks on Facebook while keeping personal and work-related contacts and content completely separate.

Dejanovic continued, “An estimated 700 million people globally live their lives through Facebook and 97% of the Fortune 500 companies turn to Monster to find talent. BeKnown now gives people and companies the ability to utilize that vast network for professional gain by tapping into the power of Monster and Facebook.”

Monster Worldwide, Inc., parent company of Monster®, the premier global online employment solution for more than a decade, strives to bring people together to advance their lives.

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Nike Inc. (NKE) just does it, tops earnings guesses, stock rockets

Tuesday, June 28th, 2011

Nike Inc. (NYSE: NKE) shares rose 6.9% to $87.27 a day after the athletic-shoe seller reported fourth-quarter earnings that beat estimates. Volume for the stock was 4.7 million shares, topping an all-day average of 2.7 million.

This morning, an article from the Associated Press stated that the sports gear maker said net income for its fiscal fourth quarter, ended May 31, rose 14% to $594 million, or $1.24 a share. Net income for the year ago period was $522 million, or $1.06 a share.

Nike was expected to earn $1.16 a share, according to the average estimate of analysts surveyed by Thomson Reuters I/B/E/S.

Revenue for the quarter rose to $5.8 billion from $5.08-billion. Excluding currency movements, it increased 11%

Analysts expected $5.528 billion of revenue for the period.

The AP story quotes Matt Arnold, an analyst at Edward Jones as saying, “The best way to offset higher costs is to generate strong demand growth and Nike was able to do that.”

Futures orders, a closely watched measure of demand in coming months, came in ahead of Wall Street estimates. Orders for June through November jumped 15% to $10.3-billion. Excluding currency effects, orders rose 12%, Nike said.

Barclays Capital analyst Robert Drbul expected futures orders to be up 8 per cent to 10 per cent in constant dollars. Arnold was expecting future orders to be up at least 8%. Strong futures orders suggest Nike will be able to raise prices later this year, Arnold added.

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EMS Technologies Inc. (ELMG) has honey of a day on Honeywell deal

Monday, June 13th, 2011

EMS Technologies Inc. (Nasdaq: ELMG) shares gained 32.3% to $32.82 Monday, after Honeywell International Inc. (NYSE: HON) said it would acquire the maker of wireless-communications products for $33 a share. Volume for EMS stock topped the 4.7-million mark, far greater than its daily average of just above 80,000 shares.
Under the terms of the agreement, which has been unanimously approved by both companies’ Boards of Directors, a wholly-owned subsidiary of Honeywell will commence a tender offer within ten business days to purchase all of EMS’s outstanding shares for $33.00 per share in cash. The transaction represents a 33% premium to EMS’s closing stock price on June 10, and a 59% premium to EMS’s closing price on April 18, one day prior to the Company’s announcement that it was reviewing strategic alternatives.

The Board of Directors of EMS will recommend that EMS shareholders tender their shares in the tender offer. The transaction, which is subject to successful completion of the tender offer, regulatory approval and customary closing terms and conditions, is expected to be completed in the third quarter of 2011.

“This announcement is the culmination of the robust strategic review process we have been engaged in since April,” said Jack Mowell, Chairman of EMS’s Board of Directors in the June 13 press release trumpeting the deal. “With the assistance of experienced outside advisors, we determined that this transaction is the best way to maximize value for our shareholders.”

EMS, located in Norcross, Georgia, keeps people and systems connected – on land, at sea, in the air or in space. EMS offers industry-leading technology to support Aero Connectivity and Global Resource Management markets though a broad range of cutting-edge satellite and terrestrial network products; helping businesses, assets and people stay connected and promoting universal mobility, visibility and intelligence

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