Posts Tagged ‘earnings news’

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FSIN, SODA, OPEN – Buzz Stocks With Big Gains on Wednesday

Wednesday, November 3rd, 2010

Fushi Copperweld, Inc. (Nasdaq: FSIN) was up 23 percent to $11.26 per share from Tuesday’s closing price, in morning trading on Wednesday after the company announced that it received a proposal letter from its Chairman and CEO and Abax Global Capital on behalf of funds managed by it and its affiliates Fu and Abax to acquire all of the outstanding shares of Common Stock of Fushi not currently owned by Fu and his affiliates in a going private transaction for $11.50 per share in cash. Fu and his affiliates own ~29.2% of Fushi’s Common Stock. Fushi Copperweld, Inc., through its subsidiaries, develops, designs, manufactures, markets, and distributes bimetallic wire products, principally copper-clad aluminum (CCA) and copper-clad steel (CCS). Shares of Fushi Copperweld, Inc. are up about 23 percent over the past three months.

Shares of SodaStream International Ltd. (Nasdaq: SODA) were up 19 percent from its IPO price of $20 per share, in morning trading on Wednesday, touching a high of $25.50 per share. The company also said its underwriters have a 30-day option to buy up to an additional 817,105 shares to cover excess demand. That’s up from a previously reported 710,526 shares. The company plans to use the proceeds from the offering to pay back about $33.2 million owed to financial institutions; repay about $1.9 million owed to shareholders; pay approximately $34 million in costs related to building or buying another manufacturing plant; and pay a one-time $2.4 million termination fee to Fortissimo Capital Fund GP for ending a management services contract. The remaining funds will be used for working capital and other general corporate purposes. SodaStream’s home beverage carbonation systems can help consumers convert tap water into carbonated soft drinks and sparkling water. The company was founded in 1991, and had sales of $144 million over the last 12 months.

Online restaurant-reservation service OpenTable, Inc. (Nasdaq: OPEN) reported third quarter earnings of 23 cents a share, on sales of $24.5 million. Analysts polled by FactSet, on average, expected earnings of 15 cents per share on sales of $23.2 million. Shares of OpenTable were up as much as 17 percent from Tuesday’s closing price, in morning trading on Wednesday, touching a 52-week high of $72.20 per share. Higher mobile application and Internet drove reservation growth 54 percent over year-ago levels and at a faster pace than the 52 percent growth in the second quarter. In light of the strong results, ThinkEquity analyst Aaron Kessler raised his full year targets for OpenTable to total 2010 earnings-per-share to be 77 cents, up from 66 cents. Kessler also raised his sales prediction to $98.6 million from $96.9 million. Shares of OpenTable are up about 50 percent over the past three months.

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Notable Nasdaq Gainers – APPY, MIPS, SUPG, MCOX

Tuesday, October 26th, 2010

AspenBio Pharma, Inc. (Nasdaq: APPY) shares are up more than 125 percent since October 18th. Shares opened this morning at $0.60 and surged as high as $0.98. The company issued a news release this morning before the opening bell announcing that it has initiated manufacturing of its AppyScore™ cassette-based test system to be used in further validation and verification testing. AppyScore is a blood-based diagnostic test designed to aid emergency department physicians in the difficult challenge of evaluating patients suspected of having appendicitis. AspenBio Pharma also announced that it has contracted with Michael Wandell, PharmD to lead its human diagnostic products’ clinical and regulatory strategy, and Erik Miller to spearhead the company’s commercial planning efforts.

MIPS Technologies, Inc. (Nasdaq: MIPS) shares increased almost 24 percent from Monday’s closing price in morning trading on Tuesday after the chip maker announced first quarter  profit of  $7.6 million, or 16 cents per share, compared with $595,000, or a penny per share, a year earlier. Excluding one-time items, MIPS earned 17 cents per share. Analysts polled by Thomson Reuters expected earnings of  7 cents per share. MIPS Technologies’ quarterly revenue jumped 50 percent to $22.5 million, largely driven by a big jump in royalties revenue. Analysts expected $19.7 million in revenue. Shares of MIPS are up about 113 percent over the past 12-months.

SuperGen, Inc. (Nasdaq: SUPG) shares were up as much as 27 percent from Monday’s closing price in morning trading on Tuesday, after the oncology-focused biotech company announced better-than-expected third-quarter profit, driven by by royalty revenue from its blood cancer drug, Dacogen. Third-quarter net income increased  to $3.9 million, or 6 cents a share, from $833,000 or 1 cent a share, a year ago. Revenue in the quarter rose 29 percent to $13.4 million. Royalty revenue from Dacogen rose was up $2.8 million to $13.2 million. Analysts on an average were expecting a loss of a penny per share on revenue of $11.18 million. SuperGen also raised its outlook for 2010. The company expects full-year profit of less than $12 million, up from its previous estimate of less than $4.5 million. SuperGen expects royalty revenue from Dacogen to be between $49 million and $52 million, up from its previously estimated range of $44 million to $48 million.

Mecox Lane Limited (Nasdaq: MCOX) shares had a great debut on Tuesday, opening nearly 60 percent above its initial public offering price. Mecox, which sells clothing and accessories to young  women, sold 11.74 million American Depositary Shares for $11 each, raising about $129.17 million. Shares soared as high as $18.50 in morning trading on Tuesday. Credit Suisse Securities (USA) LLC and UBS AG acted as joint bookrunners for the offering. Oppenheimer & Co. Inc. and Roth Capital Partners, LLC acted as co-managers for the offering. Mecox Lane’s website, M18.com, sells proprietary brands including Euromoda and Rampage, and well-known third party brands including Adidas and Daphne. The company had about 2.1 million active online customers as of June 30. For the six months ended June 30, Mecox Lane posted net revenue of $108.03 million, up 41.6 percent from a year earlier. Net income for the same period fell 37.7 percent to $2.53 million, from a year earlier.

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Harley-Davidson, Inc. (HOG) – Buzz Stock of the Day

Tuesday, July 20th, 2010

Shares of motorcycle maker, Harley-Davidson, Inc. (NYSE: HOG) were up as much as 14 percent from Monday’s closing price, in morning trading on Tuesday after the company announced a profit at its motorcycle financing unit and stabilizing motorcycle sales in the second quarter.

Harley-Davidson Financial Services, the business unit that gives loans to Harley customers and dealers posted operating income of $60.8 million in the quarter, up from a loss of $90.5 million in the same quarter last year. Harley’s net income for the three months ended June 27 was $71.2 million, or 30 cents per share, up from $19.8 million, or 8 cents per share in the same quarter a year ago. Excluding discontinued operations, profit was 59 cents per share. Analysts polled by Thomson Reuters expected profit of 41 cents per share, on average.
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Harley-Davidson’s second quarter revenue from motorcycles and related products was flat at $1.14 billion. Analysts expected revenue of $1.13 billion.

“Over the past year-and-a-half, we’ve taken many actions, from an operations standpoint, in marketing and product development at HDFS and in every aspect of our business to deal with the economy and focus our resources on long-term goals and priorities,” said CEO Keith Wandell in the company’s earnings call. “Harley-Davidson’s first half earnings from continuing operations were $0.89 a share. We saw continued improvement at HDFS and there was a further moderation in the retail sales decline for new Harley-Davidson motorcycle sales in the second quarter.”

The Milwaukee-based Harley-Davidson a major overhaul at the start of 2009 to cope with a shrinking market and an economic downturn that has undercut demand for its pricey, chrome-laden bikes. Sales of Harley motorcycles, whose prices range from $7,000 to $25,000 can take a big hit when the economy goes south. The company has been focused on cutting costs and streamlining its business. Last year, it announced the shutdown its Buell sport-bike line and said it planned to sell the Italian motorcycle maker MV Agusta. In December, the company and its union agreed to a cost-cutting contract at its main motorcycle plant in York, Pa., that involved layoffs for about half the company’s unionized work force there.

The next step in its restructuring plan comes this week, when Harley-Davidson executives begin negotiations with the company’s union in Wisconsin for a new contract. Wandell said the company is “not flexible” on its demands and reiterated that the company will move Wisconsin production elsewhere if it doesn’t get the cost-savings it wants, which include lower expenses at its powertrain factory in Milwaukee and its motorcycle components facility in Tomahawk, Wis.

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