Unilife Corporation (UNIS) stock rockets on CEO buyback

Posted on Wednesday, August 17th, 2011

Unilife Corporation (NASDAQ: UNIS) shares zoomed 12.9% to $4.20, on word the company’s CEO plans to buy back up to $1 million in shares this week. Volume for the stock totaled 232,000 shares, lagging an all-day average of 258,000.

A news release out Wednesday announced that Unilife’s CEO, Alan Shortall, intends to purchase $500,000 in shares of the company’s common stock over the next week. Shortall intends to begin purchasing these shares this week at market prices within 48 hours.

Furthermore, Mr. Shortall has advised the Board of Directors of Unilife that he intends to purchase up to an additional U.S. $500,000 of the Company’s common stock between now and September 30, 2011. Mr. Shortall intends to provide twenty-four hours advance notice to U.S. markets before purchasing these additional Unilife shares.

Shortall is the largest shareholder in Unilife. These upcoming purchases by Shortall follow his most recent open market purchases of more than U.S. $500,000 in Unilife shares, which were completed in mid-March 2011 at an average price equivalent to $4.80 per share of common stock.

Shortall was quoted in the release as saying, “I believe that this is an excellent time to purchase shares in Unilife, and to further align my own personal interests to that of my fellow shareholders. In my opinion, Unilife has never had a brighter business future than what we see today. We remain on track with our strategic plan to become a global leader in advanced drug delivery systems. As such, I intend to increase my personal investment in the Company.”

Unilife Corporation is a U.S.-based developer, manufacturer and supplier of advanced drug delivery systems with state-of-the-art facilities in York, Pennsylvania.

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Posted in Health Care Stocks by Glenn | No Comments »


MarketAxess Holdings Inc. (MKTX) hits stock high amid takeover rumors

Posted on Wednesday, August 17th, 2011

MarketAxess Holdings Inc. (Nasdaq: MKTX) shares gained 14.3% to $27.48, after The Wall Street Journal on Tuesday reported on its website that the operator of an electronic bond-trading platform might be on the auction block. Volume for the stock was 1.7 million shares, or about 11 times its normal daily volume.

The Journal piece, citing folks close to the situation and substantiated Wednesday by Reuters, said that if MarketAxess decides on a sale, the company could fetch around $1.5 billion.

Though the names of the interested parties are not known, potential bidders might include Bloomberg LP, SunGard Data Systems BAINSD.UL and private equity players, said Niamh Alexander, an analyst with Keefe, Bruyette & Woods.

“We also consider exchanges but the price might be relatively high for them, nonetheless an all-cash transaction by ICE or CME could still be accretive,” Alexander said in the Reuters story.

MarketAxess is big in electronic trading of corporate bonds and is making headway in credit derivatives ahead of planned regulations that will shift more of that market toward venues like MarketAxess.

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Posted in Financial Stocks by Glenn | No Comments »


Zagg Inc. (ZAGG) zooms higher on bottom line

Posted on Tuesday, August 16th, 2011

Zagg Inc. (Nasdaq: ZAGG) shares climbed 6.6% to $15.70, on Monday after the maker of cellphones and accessories related to Apple Inc. (Nasdaq: AAPL) products hiked its 2011 revenue forecast and came out with second-quarter figures. Volume for the stock surpassed 5.4 million shares, compared to a daily average of 2.2 million.

A news release out August 15, declared that revenue for the second quarter was $38.8 million, a 158% increase from $15.1 million in the second quarter of 2010 and a 44% sequential increase as compared to $27.0 million in the first quarter of 2011. These results include nine days of iFrogz revenue of $2.4 million, having been acquired during the quarter on June 21, 2011. Revenue by channel was 72% indirect and 22% from the ZAGG.com website.

Gross profit for the second quarter was $17.8 million, versus $7.5 million in Q2 2010 and $13.6 million from the previous quarter, which translates into gross margin for the quarter of 46%, versus 50% for Q2 2010 and 51% in the previous quarter. Gross margin for the quarter was in line with ZAGG’s guidance, but down year over year due to the required write up of iFrogz inventory, a product mix shift for iFrogz, additional shipping charges to meet higher than expected demand for iFrogz product, and an increase in obsolescence charges for ZAGG inventory.

The same release quoted CEO Robert Pedersen as saying, “ZAGG’s operational performance in the quarter was extremely strong. During the second quarter we saw revenue growth due to our expanding retail channel, and the increase in product we are putting into the channel. The market for smartphones and tablets continues to rapidly expand, and we are well positioned as a leading accessories provider, especially since our acquisition of iFrogz, which broadens our product offering, expands our distribution to new channels and brings the youth demographic into our mix.

“We are excited about the roll out of iFrogz product on our website, as well as the expansion of our tablet keyboard offerings with the ZAGGfolio™ and the new ZAGGkeys™ SOLO™. We feel that these additions will have an immediate impact to our online sales.”

The Company is raising its 2011 guidance for revenues to $160 million – $170 million, from a previous range of $105 million – $110 million, to reflect an improved outlook for the sale of its products as a result of expanding distribution and increased product offerings, and the acquisition of iFrogz.

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Posted in Consumer Discretionary Stocks by Glenn | No Comments »


Motorola Mobility Holdings Inc. (MMI) gets Googled, leaps in price

Posted on Tuesday, August 16th, 2011

Motorola Mobility Holdings Inc. (NYSE: MMI) shares remain skyward 55% today over Friday’s close after Google Inc. (Nasdaq: GOOG) said it would buy the cellphone business for about $12.5 billion, or $40 a share. Monday after the deal was announced, volume for Motorola ballooned to 54.4 million shares from a daily average of 4.3 million.

A release published August 15 noted that the acquisition of Motorola Mobility, a dedicated Android partner, will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing. Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business.

Larry Page, CEO of Google, was quoted in the release as saying, “Motorola Mobility’s total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers.”

In the same release, Sanjay Jha, CEO of Motorola Mobility, said, “This transaction offers significant value for Motorola Mobility’s stockholders and provides compelling new opportunities for our employees, customers, and partners around the world.

“We have shared a productive partnership with Google to advance the Android platform, and now through this combination we will be able to do even more to innovate and deliver outstanding mobility solutions across our mobile devices and home businesses.”

Motorola Mobility Holdings, Inc. fuses innovative technology with human insights to create experiences that simplify, connect and enrich people’s lives. Its portfolio includes converged mobile devices such as smartphones and tablets; wireless accessories; end-to-end video and data delivery; and management solutions, including set-tops and data-access devices

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Posted in Technology Stocks by Glenn | No Comments »


A123 Systems Inc. (AONE) benefits from new GM supply deal

Posted on Thursday, August 11th, 2011

A123 Systems Inc. (Nasdaq: AONE) shares rallied 46.1% to $4.63 Thursday after General Motors Corp. (NYSE: GM) said it signed a supply contract to the battery maker. Volume for A123 was 12.8 million shares, compared to a daily average of 2.7 million.

A story in the Wall Street Journal on August 11 stated that the agreement builds on existing contracts between GM and A123, which focused on lithium-ion battery technology at both the cell and system level. The new contract includes advanced nanophosphate cells and fully integrated electronic components. The specific vehicles and brands will be announced at a later date, according to GM.

Jason Forcier, Vice President of A123’s automotive solutions group, told Dow Jones Newswires the company would get a “substantial revenue stream” out of the program. Yearly unit volume is expected to start in the thousands and could possibly reach the tens of thousands.

Forcier said the contract would cover a vehicle platform that would be launched in the U.S. and abroad, saying demand for fuel-efficient vehicles would continue to increase due to higher fuel costs and increased government standards.

A123 Systems, Inc. develops and manufactures advanced lithium ion batteries and battery systems for the transportation, electric grid services and commercial markets. Headquartered in Massachusetts and founded in 2001, A123 Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology

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Posted in Industrial Stocks by Glenn | No Comments »


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