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| Smokefree Innotec Inc Logo |
Penny stock Somkefree Innotec Inc ( PINK : SFIO) in news with positive stock movement as company has signed exclusive contract with Filter Manufacturer, stock has gained 56% with substantial volume of 30.14 million shares while the average daily volume is 9.5 million shares.Check out details here >>
One should keep an eye as stock might jump again in coming week based on news and developments in the company. Although company is a penny stock and listed in a Pink sheet,
it has provided each and every developments of the company as press releases. Trader might trade a stock for intraday gains when it spikes again.
it has provided each and every developments of the company as press releases. Trader might trade a stock for intraday gains when it spikes again.
(Marketwire) - Smokefree Innotec, Inc. (PINKSHEETS: SFIO), an established international distributor of e-cigarettes, (http://www.sfio.us or http://www.realsmokefree.com) declared more good news today through its President and CEO Thomas Schroepfer, that the long waited worldwide distribution contract for the filter used by SFIO has been executed at last in favor of SFIO as its exclusive distributor worldwide. Operating under a tacit agreement until now, the Company's needs have been supplied by this international manufacturer for almost three years. Quoting in part from its contract with SFIO, "...the Company appoints the Distributor as its exclusive distributorship of the Products in the Territory and the Company will not sell the Products in the Territory to another distributor and will not sell the Products itself within the Territory." What's covered by this exclusive distributorship contract is described as "Smokefree Innotec Cigarette Filter, Containing of: mouth piece filter (25 x 8.3 x 6 mm inner bore), depot filter (14.5 x 6.1 x 1 mm inner bore) and flavour with/without nicotine."
This exclusive contract, coupled with our excusive patents, together with the revised regulatory positions relative to e-cigarettes, sets the stage for this month's internet launch of our products into the U.S. Market. Read More below are some good penny stock recommendations
SMART INVESTMENT BY SMART PROFIT
BUY LUPIN
CMP : 419 ; Target : 510
Headquartered in Mumbai, India, Lupin Limited today is an innovation led transnational pharmaceutical company producing a wide range of quality, affordable generic and branded formulations and APIs for over 70 countries in the world. Lupin remains amongst the prolific R& D spenders in the industry which we believe bodes
well for its growth.
Lupin can turn out to be a major winner with the recent Japanese crisis by tapping the opportunity. The Japanese subsidiary Kyowa pharma to see rise sale of CNS drugs and anti-infective grew by 16% to Rs. 1,727 Mn during Q3, FY 2010-11 which has 200 brands and adds 11% -12 % revenue to the company. Kyowa also plans to launch atleast 4 – 5 products every year.
Lupin remains the 5th largest Generic player in the U.S. in terms of prescriptions (IMS Health). Lupin emerged as the market leader (No. 1 by market share) in 13 out of 29 generic products in
the U.S. and 28 out of these 29 generic products rank in the Top 3 positions by market share
Pharma Major, Lupin Ltd. reported a top-line growth of 17% and net profit growth of 39% for the third quarter, FY 2010-11.
Key Financial & Performance Highlights
· Net sales grew by 17% to Rs. 14,672 million during Q3, FY 2010-11, up from Rs. 12,554 million (Q3, FY 09-10)
· Net profits grew by 39% to Rs. 2,240 million during Q3, FY 2010-11, as compared to Rs 1,606 Mn. (Q3 FY 09-10)
· Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) grew by 15% to Rs. 3,007 Mn. during Q3, FY 2010-11, from Rs. 2,619 Mn. (Q3 FY 09-10).
Lupin is investing Rs.450 cr on capacity expansion, ramping up sales force and launching new products.
The company has already expanded its reach from 890 medical representatives 3 years back to 3,500 at present and is looking to hire more employees this fiscal in India.
Lupin has got a rich pipeline for various geographies. They have close to about 145 filing for America as of now; and there could be a few more by the end of this fiscal targeting annual revenue of $3 billion, three times that of the revenue in 2010.
Intact growth in FY 2011-12 in the sector due to 1) Visibility increase in launches in US. 2) OCs launch from Sep 2012E.3) Minimal threat of generic competition to Suprax.
We believe the recent fall in stock is a good opportunity point as long term drivers are intact.
We recommend `BUY' on the stock at CMP 419 with a target price of Rs.510... Valuing it at 20x FY2012E earnings.
BUY RURAL ELECTRIFICATION CORPORATION LIMITED (REC)
CMP : 224; Target : 300
REC, under Ministry of Power, was incorporated on July 25, 1969 under the Companies Act 1956. REC a listed Public Sector Enterprise Government of India with a net worth of Rs. 11,080 Crore as on 31.03.10.
REC provides loan assistance to SEBs/State Power Utilities for investments in rural electrification schemes through its Corporate Office located at New Delhi and 17 field units (Project Offices), which are located in most of the States.
The company has been rated among the top 500 Global Financial Services brands for 2010 by UK-based plc Brand Finance. REC is also among the Forbes Global 2000 companies for 2010.
REC registered robust growth in all key parameters during FY10 with operating income increased to 65.49 bn a growth of 38% from 47.57bn in FY09.
For the quarter ended December 2010, strong loan growth drove REC's net interest income (NII) by 36 per cent year-on-year, which, coupled with net interest margin (NIM) expansion, enabled its net profit to post a handsome growth of 40 per cent.
While loan growth in the December quarter was healthy, at 21 per cent on a yearly basis to Rs 75,744 crore
We have a `BUY' rating on the stock at CMP of 224 due to REC's robust long-term business outlook and valuations considering compounded earnings growth of 25 per cent and average return on equity (RoE) of 22 per cent over 2011-12.
BUY AREVA T&D
CMP : 270 ; Target : 440
India Ltd, the Indian subsidiary of AREVA France SA, engages in the design and manufacture of equipment, systems, and services for transmission and distribution of electricity in India.
Areva managed to retain its leadership position for the third year has posted a net profit of Rs. 88.08 crore in Dec 2010 quarter, an increase of 30% Y-o-Y. Net sales rose to Rs.1327 cr in Dec quarter compare to Rs.1150 cr in previous year's quarter.
Eight new factories were built at three locations: Vadodora in Gujarat, and Hosur and Padappai in Chennai in Tamilnadu.
The comply of Areva T&D India's business at global level by the Consortium of Alstom-Schneider continues to fortify on the stock.
Although the signs of recovery are emerging, the stock is currently trading at lower valuations that contradict the fundamental.
Building on the strong operating performance with relatively low interest and depreciation cost as proportion to sales and lower tax incidence, we expect company to register CAGR of 13.5% respectively. We expect the stock perform dominant in earning at CMP 270 with a target price of 440.
BUY SYNDICATE BANK
CMP : 115 ; Target : 160
Syndicate Bank was established in 1925 spanning over 80 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations.
Syndicate Bank recorded 57% increase in its operating profit for the nine months ended December 2010. The operating profit was Rs2078 crore for the period ended December 2010 as against Rs1321 crore recorded during the corresponding period of the previous - year.
Net Interest Income increased from Rs1880 crores for the nine months ended December 2009 to Rs3222 crore for December 2010 registering growth of 71%.
The Global Business of the Bank was at Rs.2, 25,910 crore as on 31.12.2010 as against Rs1, 91,619 crores as on 31.12.2009 registering a growth of 18%.
Syndicate loan books expected to grow by 20%. Thus the stock looks attractive investment opportunity.
Since its 52 week high of Rs 164 has been declining in a well defined channel lows and highs. At its current low of Rs 110, the stock has underperformed Sensex & Bankex & the close to its book level.
The stock is cheap at 1.4x estimated FY12 book value. Thus studying all the aspect we recommend a strong BUY with the target of 160.
BUY KAMANWALA HOUSING CONSTRUCTION
CMP : 40 ; Target : 90
Kamanwala Housing Construction Limited (KHCL), a company with a 25-year track record, based at Mumbai is into construction and development of commercial and residential buildings.
It owns the famous Filmistan studio in partnership and has been in news recently that it is selling the land for a whooping amount of Rs.600 cr. Kamanwala completed a commercial project "Pinnacle Corporate Park" at Mumbai's most developing commercial hub Bandra Kurla Complex. Kamanwala's Savoy Residence, a residential project of 60000 sq ft. in Santacruz West has been completed. Work at Savoy chambers, a commercial project of 67000 sq.ft in Santacruz West is completed. Kamanwala is constructing 5 towers residential project in Malad West .They are developing SRA project at Mahim. Kamanwala owns 125000 sq ft of land in Oshiwara area. They are soon starting with development of 35 acres of land in Hyderabad. Kamanwala holds huge land in Noida and Turbhe as well.
With total land asset of more than Rs.1000 cr, market is severely undervalued at 40 with market capital of Rs.55 cr.
Considering the zeroing of debt the company has undertaken, completion of its various projects and its land bank, we recommend a STRONG BUY on Kamanwala with it more than doubling to 90 in 9 months.
BUY NEYVELI LIGNITE CORPORATION LIMITED (NLC)
CMP : 104 ; Target : 150
NLC is a government-owned lignite mining Indian company, which is wholly owned by the Union Government (49%) and administered via coal ministry. It is recently announced as "Navratna" by Government of India in April 2011. NLC Neyveli spreads over an area of around 54 square km, comprising Neyveli Township and temporary colonies around 32 blocks. The company runs the biggest open-pit lignite mines in India and mines around 24 million tonnes of lignite annually for fuel, with an installed capacity of 2490 MW of electricity per annum.
NLC now elaborated its project to Rajasthan also in mining as well as thermal stations, 3 big mines also supplies a huge amount of sweet water to Chennai. The Tamil Nadu electricity board has a JV with the Neyveli Lignite Cooperation (NLC) for two projects – A 1000-MW coal-based project at Tuticorin in southy Tamil Nadu at the cost of Rs 4000 crore and the Jayamkondam lignite power project at a cost of Rs 5000 crore for 1000 – MW power plant.The company has also planned to develop clean coal technologies like extraction of coal bed methane (CBM) and Underground coal gasification for which several steps have been taken.
Neyveli Lignite is an open-cast mechanized lignite mine. The Company has 50 percent joint venture with Tamil Nadu Electricity Board. Recently, the company announced its plans to invest about $8.2 billion on power generation and mining capacity augmentation by 2017. The plan also includes development of power projects using other fuel feed. Of the proposed investment, $2.04 billion has already been spent on ongoing projects.
Strong expansion & diversification plans to explore coal-based, wind and solar power generation projects will add on strength to the cashbook.
BUY FIRSTSOURCE SOLUTION LTD
CMP : 18 ; Target : 40
Formerly known as ICICI OneSource, incorporated in 2001, Firstsource Solutions Limited provides a range of business process outsourcing services.
It offers business process management services to the banking, financial services and insurance (BFSI); telecommunications and media; and healthcare industries. Firstsource has a "rightshore" delivery model with operations in India, U.S., UK and Philippines.
INVESTMENT VIEW:-
Firstsource Recognized with Top Honors at the International Quality and Productivity Council (IQPC) Conference
Leadership position in the healthcare industry
About 40% of the revenue comes from its healthcare vertical catering mainly to US markets
Divestment of Stake
ICICI bank is likely to reduce its stake in FSL from 19.4% to 5%; ICICI bank is looking to sell it at 5% premium to the market price.
Stable relationships with existing clients
The Company works with more than 1000 clients. 7 of the top 10 clients have grown during the quarter.
Foreign Exchange Hedges
Outstanding FX hedge sat $ 31million and £ 35million for USD and GBP respectively.
Employee Strength
26,668 (as of 31st Dec, 2010) added 1,759 employees in this quarter.
FSL gave net sales of Rs.182.96 cr in December 2010 quarter compare to Rs.175 cr in previous year.
Inspite of Q3 being a seasonally weaker Quarter, Strong performance both on revenues and profitability. We recommend a Buy on FSL at CMP 18 with a target price of 40 within 9 months.
BUY HOTEL LEELA
CMP : 40 ; Target : 60
India's fifth-biggest luxury hotel chain founded in 1957. Leela Group is engaged in the business of ready-made garments and luxury hotels and resorts.
Hotel Leelaventure, plans to raise funds through divest as much as 14.95% stake through a fresh issue of shares to unnamed investor(s) and besides monetise its land bank by selling non-core assets including a major portion of a commercial office space next to its hotel in Chennai. It expects to generate about Rs 950 crore from such sale of land and joint development, which would be used for reducing its debt. The other decision to sell a stake will bring around Rs 270 crore ($60 million) additionally as cash into the firm, according to estimates based on current market price. The strategic or financial investor will pick just a tad less than 15% stake that would trigger an open offer...
India is one of the fastest growing tourist markets in the world inherently rooted concept of hospitality in form of "Ätithi Devo bhava" . At present, your Company operates six hotels at the locations viz. Mumbai, Bangalore, Goa, Kovalam, Udaipur and Gurgaon comprising 1523 guest rooms and 90 serviced apartments.
Hotel Leela is expected to commence to aided by addition of 260 rooms in Delhi and 332 rooms in Chennai properties.
With an ever increasing demand in tourism business synergizing with growth plans of Leela, we recommend a BUY at current level of 40 with target of 60.
SELL BAJAJ AUTO
CMP: 1319; Target: 1100
BAL, the 2nd largest manufacturer of two-wheelers in India, reported less growth compared to its peers, with production constraints, diminishing brand image and market acceptance, coupled with detoriating quality & inability to achieve target sale, the stock looks struggling.
Two wheeler auto industry is going through a turmoil with declining demand reasoned because of increasing interest rate & restrained financial availability. Supply of two wheelers is on an increase with players like Honda, Hero Honda, TVS, M&M expanding their capacities. Bajaj is to be most affected with this gap in demand and supply as its brand preference has fallen from 2nd position to 5th position in market.
Bajaj reported sale of 322235 two wheeler units, which includes export of 158422 units in April 2011 month. Last year in same month, Bajaj saw sale of 276095 units with export of 113911. This implies that the domestic sale of Bajaj remained stagnant with around 163000 units over the year showing no growth. Hero Honda, market leader in two wheeler, showed growth of whooping 40% in domestic market in the same time frame. Hero Honda is venturing into exports as well.
With Government withdrawing DEPB benefit scheme for exporters, Bajaj auto will face severe problems in terms of their export profit. Rajiv Bajaj, MD, Bajaj Auto, stated his concern regarding the fall in export to take place due to withdrawing of DEPB scheme and increasing competition from China market in exports. He also shard his worry about further slowdown expected in two wheelers.
With increase in competition, fall in demand, pressure rising due to high input cost, tightening of export policies, Bajaj Auto is losing grounds from domestic as well as export market. We recommend a STRONG SELL on Bajaj Auto with target of 1100.
Read More recommendation free see
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DISCLAIMER:- Smart Profit has taken due care and caution in compilation of data for its reports. The market view and investment tips expressed on Smart Profit are in no way a guarantee either express or implied. However, Smart Profit does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.
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| Macs |
According to rumors and a report from Fast Company, If Apple Inc leaves Intel silicon and consider to install ARM CPU's on its Macs, it will make Macbook last all day long:
Only a handful of years ago, Apple abandoned its long relationship with IBM and the PowerPC line of processors for shiny new Intel silicon. The switch from G5 to Intel caused many inconvenience to the user community and the people who code for Apple software as they have to work with dual-mode compatibility code in its OS X for years, But Apple's never looked back, and thanks to a few early-access treats from Intel, and special treatment like the unique one-off processor designed to make the original MacBook Air
such a paradigm-breaking machine, the two have kept working together. That may, according to a new and surprisingly emphatic rumor, all be about to change.
such a paradigm-breaking machine, the two have kept working together. That may, according to a new and surprisingly emphatic rumor, all be about to change.
SemiAccurate, a publication that was previously correct in predicting Apple would swing away from using Nvidia GPUs, is the source of the latest rumor. It's based on some insider information, and some smart deductive work: In just a few years, ARM is expected to transition its CPU design to full 64-bit addressing, which would significantly boost the computing power, while retaining the core light power requirements that's a characteristic of ARM's design. A transition to ARM CPUs in two to three years would enable Apple to quickly make use of a whole new class of super-powerful chips that eat batteries much less quickly than competing chip architectures. And it would come just a short while after Apple takes its first steps in incorporating lessons from iOS devices like the iPhone (which runs on an ARM chip) back into its computing operating system OS X, with the latest update intoOS X Lion.
And don't forget Apple already has lots of ARM design expertise in-house, thanks to its acquisition of PA Semi for close to $300 million in 2008.
With two more generational tweaks to OS X, and continued development of
iOS, Apple could easily make OS X work on ARM chips instead of Intel's. This would also align how code is written for pretty much every device Apple makes. Supplying an emulation system, like it did for the transition to Intel chips inside Macs, wouldn't be difficult, and the fact that Mac apps are now slightly cheaper to buy (thanks to the Mac App Store, and halo effect of the iOS App Store) would mean users wouldn't feel hard done by when, in say four to five years, Apple stopped supporting Intel x68-only software for its ARM-based Macs.
iOS, Apple could easily make OS X work on ARM chips instead of Intel's. This would also align how code is written for pretty much every device Apple makes. Supplying an emulation system, like it did for the transition to Intel chips inside Macs, wouldn't be difficult, and the fact that Mac apps are now slightly cheaper to buy (thanks to the Mac App Store, and halo effect of the iOS App Store) would mean users wouldn't feel hard done by when, in say four to five years, Apple stopped supporting Intel x68-only software for its ARM-based Macs.
But there's one big reason Apple would want to pull off this trick, which would be timed to the A15 ARM generation: Mobile computing. There's an undeniable move away from desktop PCs that was initially driven by advances in laptop tech, boosted by the netbook phenomenon, and is now being rocketed into the stratosphere by the tablet PC paradigm. Users now expect ever-more powerful portable machines. And though Intel has teased its next-gen low-power 3-D chip solution, the main reason it's currently shut out of the tablet market is that its chip architecture simply can't compete with ARM chips in terms of power consumption.
The iPad works for around 10 hours on a charge, while the new 11-inch iMacs run reliably into four hours of usage, and Apple's existing bigger MacBook Pros can go up to 7 hours with the Wi-Fi on...all with existing tech. Imagine in 3 years' time, with evolutions in battery design, screen technology (so they consume less power when lit) and solid-state memory advances, a MacBook sporting a low-power-consumption, super-fast ARM chip. Hypothetically, that Mac could run for 18 hours or more on a single charge.
If Apple's desktop Macs ran ARM chips, too, then perhaps they'd need much less cooling--leading to quieter, more efficient power needs. And who wouldn't like to run apps on a top-end Mac Pro with four ARM CPUs aboard, sporting up to 32 separate processor cores?
( Source: Fast Company )
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| Nature's Sunshine Pdt |
Nature's Sunshine Pdt (NASDAQ: NATR) has moved up 23 % to $10.15 with out any relevant news or announcements. We put a cautious trade alert on the stock, as volumes are not justifying the up move and also, lack of any News.
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| Achillion Pharmaceuticals Inc Logo |
Shares of the company Achillion Pharmaceuticals Inc ( NASDAQ: ACHN ) jumped more than 15 % during intraday trade with out any specific news or announcements. the last news was company's quarterly earnings announcements on 4th May 2011as below:
First Quarter Results:
For the first quarter of 2011, the Company reported a net loss of $10.1 million, or $0.17 per share, compared with a net loss of $5.6 million, or $0.16 per share for the first quarter of 2010. Cash, cash equivalents and marketable securities as of March 31, 2010 were $46.4 million.
Revenue for the three months ended March 31, 2011 was $65,000, compared with revenue of $74,000 for the three months ended March 31, 2010. Revenue in both periods consisted primarily of reimbursed costs under the Company's collaboration with Gilead Sciences, Inc.
Research and development expenses were $8.0 million in the first quarter of 2011, compared with $4.0 million for the same period of 2010. Research and development expenses were primarily related to costs incurred from the ongoing Phase 2 clinical trial with ACH-1625 and preparations to advance the Company's two additional HCV compounds, ACH-2684 and ACH-2928, into clinical trials during the first half of 2011. As the Company continues to advance its three HCV compounds in the clinic, it expects that research and development expenses will remain consistent with first quarter levels during the remaining quarters of 2011.
For the three months ended March 31, 2010, general and administrative expenses totaled $2.2 million, increased slightly from $1.7 million for the same period in 2010.
( Source: Achillion Pharmaceuticals Inc )
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| Plaza Hotel Entrance |
Eli Gindi, an Oak Room owner, tells The New York Times that rent negotiations with the hotel broke down in March.
Papers filed with the state Department of Labor list the Oak Room as closing on July 31. But a hotel spokesman tells the Times it's in discussions with potential new owners.
The Plaza's owners have sued the Oak Room's owners for $33.3 million for what a spokesman called "numerous violations of the lease."
Gindi says the dispute centers on "Day and Night," a lucrative Oak Room event that drew hundreds of people and but upset the hotel's year-round tenants.
( Source: The NY Times )
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| Osama Bin Laden |
Al Qaeda considered attacking the U.S. rail sector on the 10th anniversary of the Sept. 11 attacks, U.S. government officials said on Thursday in describing intelligence from Osama bin Laden's hide-out in Pakistan.
They said some evidence was found indicating the al Qaeda leader or his associates had engaged in discussions or planning for a possible attack on a train inside the United States on Sept. 11, 2011.
"We have no information of any imminent terrorist threat to the U.S. rail sector, but wanted to make our partners aware of the alleged plotting," spokesman Matthew Chandler said of an intelligence message the Department of Homeland Security sent on Thursday.
The department and other U.S. agencies have been reviewing the treasure trove of information from bin Laden's compound in Pakistan seized by the United States during the raid this week that killed the al Qaeda leader.
An initial review of the information by U.S. intelligence analysts indicates that bin Laden, while in Abbottabad, played a direct role for years in plotting terror attacks, and was not just an inspirational figure to al Qaeda, The New York Times reported on Thursday.
"He wasn't just a figurehead," the Times quoted a U.S. official as saying. "He continued to plot and plan, to come up with ideas about targets, and to communicate those ideas to other senior Qaeda leaders."
The information on plotting against the U.S. rail sector indicated one possible tactic for attacking a train was trying to tip it somehow off its tracks, one official said.
The official said it appeared from the information that this was an idea that bin Laden or his associates considered, but there was no indication now from the intelligence that further plans were drawn up for the scheme or that steps were taken to carry it out.
Another official said al Qaeda in February last year contemplated the rail attack
to occur on the 10th anniversary of the hijacked plane attacks on the World Trade Center in New York and the Pentagon, but the group was not tied to that exact date.
to occur on the 10th anniversary of the hijacked plane attacks on the World Trade Center in New York and the Pentagon, but the group was not tied to that exact date.
Since the raid, the Department of Homeland Security has taken a number of steps in reviewing measures at all potential terrorist targets, including transportation systems across the country. It added more officers at airports and at the borders.
Chandler said the alleged al Qaeda plot was based on "initial reporting, which is often misleading or inaccurate and subject to change."
He added, "We remain at a heightened state of vigilance," but said there were no plans to raise the national threat level.
Officials have long been concerned that al Qaeda might try to carry out attacks on the U.S. rail system.
In 2008, U.S. authorities warned of a possible al Qaeda threat to transit systems in and around New York City over the Thanksgiving holiday weekend.
Last year, an Afghan immigrant pleaded guilty in New York to plotting a suicide bombing campaign on Manhattan's subway system in what U.S. authorities described as one of the most serious threats since the Sept. 11 attacks.
( Source: Reuters )
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| Greece Flag |
Greece has raised the possibility of exiting the euro zone in discussions with the European Commission and other member states in recent days, Germany's Spiegel Online reported on Friday.
The magazine said euro zone finance ministers were meeting in Luxembourg on Friday evening to discuss the Greek crisis and that a possible restructuring of its debt would be on the agenda of the meeting.
"The government has raised the possibility of leaving the euro zone and reintroducing its own currency," the report said, without citing its sources.
While the other source said some EU ministers were meeting in Luxembourg on Friday to review issues such as Portugal, Greece and European Central Bank leadership, "but nothing more".
"Having sub-group of ministers is not a novelty," the source said. "Everyone is equal, but some are more equal than others. There are no plans for a haircut of Greek bonds."
Earlier, the spokesman for Eurogroup Chairman Jean-Claude Juncker said reports of a possible
meeting of euro zone finance ministers in Luxembourg on Friday to discuss the threat of Greece leaving the euro zone were "totally wrong".
meeting of euro zone finance ministers in Luxembourg on Friday to discuss the threat of Greece leaving the euro zone were "totally wrong".
Two other euro zone sources also dismissed the reports.
German magazine Der Spiegel reported online that Greece had raised the possibility of leaving the euro zone and introducing its own currency, and said that a crisis meeting of euro zone finance ministers and the European Commission would be held on Friday evening in Luxembourg, Juncker's hometown.
( Reuters)
Today, eOn communication Corporation ( NASDAQ:EONC) stock moved another 36 % higher
and touched $ 2.87 after yesterday's strong move and break out. Traders have an opportunity to pump and dump the stock as volumes are quite stronger, but fresh positions should be avoided and existing positions are cut off as there is a lack of specific news or announcements ( Suggestion )
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| Sapient Corporation Logo |
Quarterly Earnings Highlights from Sapient Corporation ( NASDAQ: SAPE ):
* Q1 EPS $0.12 vs est. $0.07
* Q1 rev $249.9 mln vs est. $231 mln
* Sees Q2 services rev $249-$257 mln
* Shares up more than 9% in premarket trade
May 5 (Reuters) - Sapient Corp posted better-than-expected quarterly results,
and the business and technology consulting company forecast strong services revenue for the second quarter.
and the business and technology consulting company forecast strong services revenue for the second quarter.
The company, which competes with Accenture Plc among others, expects second-quarter service revenue of $249-$257 million. Service revenue accounted for 96.6 percent of total sales in the first quarter.
Analysts, on average, were expecting total second-quarter sales of $245.2 million, according to Thomson Reuters I/B/E/S.
The company caters to the government and also to the financial and commodity markets through its three business units.
Sapient reported earnings of $12.2 million or 9 cents a share,
compared with $6.2 million or 5 cents a share, last year.
compared with $6.2 million or 5 cents a share, last year.
Exluding items, earnings came in at 12 cents a share, higher than analysts' estimates of 7 cents a share.
Revenue rose 30.3 percent to $249.9 million, beating estimates of $231 million. Services revenue increased 31.7 percent to $241.3 million during the quarter.
