UPI, SNCR, LINC Among Top Gainers at the Closing Bell

Shares of Uroplasty, Inc. (Nasdaq: UPI) closed 19 percent higher on Wednesday after the company announced on Tuesday that the Centers for Medicare and Medicaid Services (CMS) has published, in the November, 2010 Federal Register, the anticipated Category I CPT code for Posterior Tibial Nerve Stimulation (PTNS). The publication was noted by the company as an “important milestone” that will allow for a broader base of coverage for the procedure. “As we have previously announced and discussed, we are working diligently with medical directors of insurance companies to educate them on our strong clinical data, and we will now be able to present to them the specifics of the new CPT code and the associated [relative value units],” said Uroplasty’s president and CEO David Kaysen in a statement. Shares of Uroplasty are up more than 25 percent in the past three months.

Shares of Synchronoss Technologies, Inc. (Nasdaq: SNCR) closed 16 percent higher on Wednesday after the company announced third quarter profit of $2.1 million, or 5 cents per share, down 32 percent from $3.1 million, or 10 cents per share a year earlier. Excluding certain items, the wireless services provider said it earned 20 cents per share. Analysts surveyed by Thomson Reuters forecast net income of 17 cents per share. The company’s third quarter revenue was up 34 percent to $44.5 million, from $33.1 million a year earlier. Adjusted revenue of $46.8 million topped analysts’ average estimate of $44.6 million. “With the influx of connected devices, we view Synchronoss’ online activation, provision, backup and transfer technologies as core to simplifying the process and lowering costs,” Wedbush analyst Scott Sutherland wrote. “Given the most material competition remains more costly in-store and call center alternatives, we believe Synchronoss will remain on a healthy growth curve.” Shares of Synchronoss Technologies are up about 35 percent over the past three months.

Shares of Lincoln Educational Services Corp. (Nasdaq: LINC) closed 17 percent higher on Wednesday after the for-profit education company reported third quarter profit of 76 cents a share was ahead of analysts’ estimates for 62 cents a share. Lincoln reported third quarter revenue of $167.2 million, slightly under analysts’ estimates of $167.5 million. The company also raised its full-year EPS guidance to a range between $2.65 and $2.70, up from a range of $2.40 to $2.50. The company posted a big fall in third-quarter student starts and cut its 2010 revenue forecast to $635-$640 million from a prior view of $645-$650 million. For-profit education colleges like Lincoln are overhauling their enrollment practices to comply with new rules, after facing criticism for saddling students with big debts and not fully preparing them for jobs. The new enrollment rules are set to take effect in mid-2011. Shares of Lincoln Educational Services Corp. are down approximately 29 percent over the past three months.

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