Posts Tagged ‘CAVO’

MOBI mobile, INTC has chip damage, CAVO turns tail

Monday, January 31st, 2011

Sky-Mobi Limted (Nasdaq: MOBI) shares soared 12.9 percent to $7.11, on volume of 841,098 shares, just surpassing its daily average of 628,691, on announcing that MOBI and Tencent, one of China’s most popular Internet portals, have formed a strategic partnership.

Intel Inc. (Nasdaq: INTC) was very popular Monday, dealing in 62.7 million shares, beating out its daily volume of 55.2 million. Prices dipped 1.4 percent to $21.15, on news that a design error in one of its chips will cost it $1 billion in missed sales and expenses to fix the flaw.

Cavico Corp. (Nasdaq: CAVO) shares slid 9.7 percent to $1.95 on volume of 175,517 shares, besting its daily average of 108,116.

Cavico Corp. (CAVO) – Buzz Stock of the Day

Tuesday, January 25th, 2011

Shares of Vietnam-based infrastructure development company Cavico Corp. (Nasdaq: CAVO) skyrocketed more than 100 percent from Monday’s closing price in morning trading on Tuesday after the company announced that its subsidiary Cavico Hydropower Construction signed a tunnel construction contract for a hydropower plant in Vietnam valued at roughly $7.75 million.

Shares of Cavico reached an intraday high of $3.48 on Tuesday, up from Monday’s closing price of $1.70 per share.

“This is the largest hydropower project in Khanh Hoa Province,” said Cavico’s vice president Hai Thanh Tran in a statement. “In 2011 Cavico expects to be awarded many more tunnel construction projects as well as other civil and infrastructure construction projects throughout Vietnam. We are very confident that we will maintain our strong position in this sector due to our modern fleet of equipment and our skilled, experienced labor force.”

The announcement came on the heels of a $2 million tunnel excavation contract Cavico announced earlier this month, and a $6 million construction contract for another hydropower plant that was announced in late December 2010.

For the third quarter, Cavico reported a net loss of $1.9 million, or 62 cents per share, compared to a net loss of $2.6 million, or 85 cents per share in the third quarter of 2009. Revenue for the three months ended September 30, 2010 fell to $14.6 million, from $17 million a year earlier.

The company has given full-year revenue guidance in the range of $59 million to $62 million, and anticipates a net loss of between $6 million and $7 million for fiscal 2010.

Cavico’s CEO, Ha Quang Bui was bullish on the company’s future, however, largely because of Vietnam’s ambitious plans to build 48 hydropower stations exceeding 50 MW by 2025.

“We expect to benefit significantly from the Vietnamese government’s focus on the electricity shortage and development of the related projects, as well as the overall growth of Vietnamese economy,” Bui said in a statement.

Shares of Cavico are down about 5 percent over the past three months.