Hot OTC Stocks To Watch (UNDT, CYBL, DKAM, CTSO)
Universal Detection Technology (OTC:UNDT) dropped 7.69% to $0.0012 with over 25.07 million shares. The average trading volume of the stock is 65.65 million shares. So far in last six months the stock has surged 50.00%. Universal Detection Technology is engaged in the research, development and marketing of bioterrorism detection devices.
Cyberlux Corporation (OTC:CYBL) plunged 23.08% to $0.0010 on over a volume of 16.70 million shares. The average daily trading volume of the stock is 8.44 million shares. So far in last six months the stock has surged 84.62%.
Drinks Americas Holdings, Ltd. (OTC:DKAM) surged 10.00% to $0.0022 with over 17.28 million shares. The average daily trading volume of the stock is 3.46 million shares. So far in last one month the stock has plunged 46.34%.
CytoSorbents Corporation (OTC:CTSO) soared 85.29% to $0.310 with over 9.43million shares. The average daily trading volume of the stock is 898,580.00 shares.
Friday, March 25, 2011
BEFORE THE BELL: US Stock Futures Higher
U.S. stock futures rose on Friday, with technology stocks in the spotlight after a mixed set of results from Oracle Corp. and Research In Motion Ltd.
Futures for the Dow Jones Industrial Average rose 47 points to 12163 and Standard & Poor's 500 index futures added 4.70 points to 1309.90. Nasdaq 100 futures were up 9 points at 2,317.50.
The move for futures came after strong gains for Wall Street on Thursday as U.S. markets posted their fifth gain in six sessions. The Dow Jones Industrial Average closed up nearly 85 points.
Oracle Corp. (ORCL) was one of the early gainers Friday, climbing 4% in premarket trading after rising software sales to new corporate customers helped it beat earnings expectations.
Mobile-device maker Research In Motion Ltd. (RIMM) , on the other hand, slumped nearly 13% in premarket action after its guidance for the current quarter fell short of expectations. The group said its guidance reflects a greater proportion of lower-end devices in its sales mix as well as additional spending related to its BlackBerry Playbook, a tablet computer intended to compete with Apple Inc.'s (AAPL) iPad.
On the economic front, the final revision to fourth-quarter gross domestic product will be released at 8:30 a.m., EDT, followed after the open by the University of Michigan's consumer sentiment survey for March.
The dollar held broadly steady against the euro and edged up 0.2% against the yen to Y81.196, while crude futures were also largely unmoved from Thursday's close. Crude for May delivery rose 6 cents to $105.66 a barrel in electronic trading on Globex.
Among other stocks in focus, Accenture PLC (ACN) late Thursday reported fiscal second-quarter earnings of 75 cents a share, beating the consensus forecast of 71 cents.
International markets were also mostly higher Friday. Japan's Nikkei Stock Average closed up 1.1% and in Europe, Germany's DAX 30 index rose 0.7% in late morning trading.
-Simon Kennedy; 44 207 842 9427; AskNewswires@dowjones.com
Among the companies whose shares are expected to actively trade in Friday's session are Accenture PLC (ACN), Research In Motion Ltd. (RIMM) and Wet Seal Inc. (WTSLA).
Accenture PLC's (ACN) fiscal second-quarter earnings jumped 26% amid a surge in new bookings and the company boosted its revenue outlook as it expects corporate spending to keep strengthening. Shares rose 5.3% to $54.73 after hours.
Research In Motion posted fiscal fourth-quarter earnings that slightly beat analyst expectations, but its guidance for the current quarter fell short, sending the stock 10.5% lower in after-hours trading to $57.35.
Wet Seal's fiscal fourth-quarter earnings dropped after the prior-year period booked a large tax benefit, but the teen-focused retailer's core profit rose above guidance. Shares were up 5% at $3.73 after hours, as the company also forecast revenue in the current quarter above analysts' expectations.
Oracle Corp.'s (ORCL) fiscal third-quarter profit surged 78% to top the business-software company's expectations, as Oracle experienced strength from its traditional software and new hardware businesses. Investors shrugged off a miss on hardware revenue to focus on strong margins and a surge in license revenue. The company's shares rose 4% to $33.44 after hours.
Acacia Research Corp. (ACTG) said it plans to sell at least five million shares of its common stock, as the developer and acquirer of patents seeks to raise money for general corporate purposes, which could include strategic acquisitions. Shares of Acacia slid 4.3% to $32.10 in after-hours trading.
Smart Modular Technologies (WWH) Inc.'s (SMOD) fiscal second-quarter earnings plunged as lower pricing and a restructuring charge hurt the bottom line and the company booked a gain in the year-earlier quarter. After hours, Shares declined 3.1% to $6.92.
Darden Restaurants Inc.'s (DRI) fiscal third-quarter earnings rose 13% to beat its own optimistic guidance, but the casual-dining chain had a promotional misfire at its Olive Garden chain late in the quarter. Shares were down 1.1% at $47.50 after hours.
HealthSpring Inc. (HS) said it plans to sell 7.5 million shares of its common stock in an underwritten public offering. The managed care organization said it expects to use at least half of the net proceeds from the offering for the repayment of indebtedness and the balance of net proceeds for general corporate purchases, which may include acquisitions. Shares fell 4.7% to $36.20 in extended trading.
Standard & Poor's said it would move maker of replacement heart valves Edwards Lifesciences Corp. (EW) to its S&P 500 index, replacing Qwest Communications International Inc. (Q), which is set to be acquired by CenturyLink Inc. (CTL). Shares in Edwards rose 2.5% to $87.50 in after-hours trading.
Body Central Corp. (BODY) fourth-quarter earnings surged 86% as the apparel company gave an upbeat outlook. Shares were up 11% at $20.61 after hours.
Watch List:
Cephalon Inc. (CEPH) on Thursday said the U.S. District Court in Delaware found Watson Pharmaceuticals Inc.'s (WPI) generic version of the biopharmaceutical company's pain drug Fentora infringed on a valid patent.
Finish Line Inc.'s (FINL) fiscal fourth-quarter profit jumped 12% as the athletic outfitter posted better-than-expected revenue growth on strong same-store sales.
Saba Software Inc. (SABA) swung to a slim loss in its fiscal third quarter, but the decline in its adjusted profit was not as steep as analysts expected. The company, which provides software to create and deploy global networks, again reduced its forecast for full-year results.
Synnex Corp.'s (SNX) fiscal first-quarter profit declined 14% on a year-ago gain on the sale of discontinued operations, although the information-technology distributor reported higher revenue and margins in the latest quarter.
U.S. stock futures rose on Friday, with technology stocks in the spotlight after a mixed set of results from Oracle Corp. and Research In Motion Ltd.
Futures for the Dow Jones Industrial Average rose 47 points to 12163 and Standard & Poor's 500 index futures added 4.70 points to 1309.90. Nasdaq 100 futures were up 9 points at 2,317.50.
The move for futures came after strong gains for Wall Street on Thursday as U.S. markets posted their fifth gain in six sessions. The Dow Jones Industrial Average closed up nearly 85 points.
Oracle Corp. (ORCL) was one of the early gainers Friday, climbing 4% in premarket trading after rising software sales to new corporate customers helped it beat earnings expectations.
Mobile-device maker Research In Motion Ltd. (RIMM) , on the other hand, slumped nearly 13% in premarket action after its guidance for the current quarter fell short of expectations. The group said its guidance reflects a greater proportion of lower-end devices in its sales mix as well as additional spending related to its BlackBerry Playbook, a tablet computer intended to compete with Apple Inc.'s (AAPL) iPad.
On the economic front, the final revision to fourth-quarter gross domestic product will be released at 8:30 a.m., EDT, followed after the open by the University of Michigan's consumer sentiment survey for March.
The dollar held broadly steady against the euro and edged up 0.2% against the yen to Y81.196, while crude futures were also largely unmoved from Thursday's close. Crude for May delivery rose 6 cents to $105.66 a barrel in electronic trading on Globex.
Among other stocks in focus, Accenture PLC (ACN) late Thursday reported fiscal second-quarter earnings of 75 cents a share, beating the consensus forecast of 71 cents.
International markets were also mostly higher Friday. Japan's Nikkei Stock Average closed up 1.1% and in Europe, Germany's DAX 30 index rose 0.7% in late morning trading.
-Simon Kennedy; 44 207 842 9427; AskNewswires@dowjones.com
Among the companies whose shares are expected to actively trade in Friday's session are Accenture PLC (ACN), Research In Motion Ltd. (RIMM) and Wet Seal Inc. (WTSLA).
Accenture PLC's (ACN) fiscal second-quarter earnings jumped 26% amid a surge in new bookings and the company boosted its revenue outlook as it expects corporate spending to keep strengthening. Shares rose 5.3% to $54.73 after hours.
Research In Motion posted fiscal fourth-quarter earnings that slightly beat analyst expectations, but its guidance for the current quarter fell short, sending the stock 10.5% lower in after-hours trading to $57.35.
Wet Seal's fiscal fourth-quarter earnings dropped after the prior-year period booked a large tax benefit, but the teen-focused retailer's core profit rose above guidance. Shares were up 5% at $3.73 after hours, as the company also forecast revenue in the current quarter above analysts' expectations.
Oracle Corp.'s (ORCL) fiscal third-quarter profit surged 78% to top the business-software company's expectations, as Oracle experienced strength from its traditional software and new hardware businesses. Investors shrugged off a miss on hardware revenue to focus on strong margins and a surge in license revenue. The company's shares rose 4% to $33.44 after hours.
Acacia Research Corp. (ACTG) said it plans to sell at least five million shares of its common stock, as the developer and acquirer of patents seeks to raise money for general corporate purposes, which could include strategic acquisitions. Shares of Acacia slid 4.3% to $32.10 in after-hours trading.
Smart Modular Technologies (WWH) Inc.'s (SMOD) fiscal second-quarter earnings plunged as lower pricing and a restructuring charge hurt the bottom line and the company booked a gain in the year-earlier quarter. After hours, Shares declined 3.1% to $6.92.
Darden Restaurants Inc.'s (DRI) fiscal third-quarter earnings rose 13% to beat its own optimistic guidance, but the casual-dining chain had a promotional misfire at its Olive Garden chain late in the quarter. Shares were down 1.1% at $47.50 after hours.
HealthSpring Inc. (HS) said it plans to sell 7.5 million shares of its common stock in an underwritten public offering. The managed care organization said it expects to use at least half of the net proceeds from the offering for the repayment of indebtedness and the balance of net proceeds for general corporate purchases, which may include acquisitions. Shares fell 4.7% to $36.20 in extended trading.
Standard & Poor's said it would move maker of replacement heart valves Edwards Lifesciences Corp. (EW) to its S&P 500 index, replacing Qwest Communications International Inc. (Q), which is set to be acquired by CenturyLink Inc. (CTL). Shares in Edwards rose 2.5% to $87.50 in after-hours trading.
Body Central Corp. (BODY) fourth-quarter earnings surged 86% as the apparel company gave an upbeat outlook. Shares were up 11% at $20.61 after hours.
Watch List:
Cephalon Inc. (CEPH) on Thursday said the U.S. District Court in Delaware found Watson Pharmaceuticals Inc.'s (WPI) generic version of the biopharmaceutical company's pain drug Fentora infringed on a valid patent.
Finish Line Inc.'s (FINL) fiscal fourth-quarter profit jumped 12% as the athletic outfitter posted better-than-expected revenue growth on strong same-store sales.
Saba Software Inc. (SABA) swung to a slim loss in its fiscal third quarter, but the decline in its adjusted profit was not as steep as analysts expected. The company, which provides software to create and deploy global networks, again reduced its forecast for full-year results.
Synnex Corp.'s (SNX) fiscal first-quarter profit declined 14% on a year-ago gain on the sale of discontinued operations, although the information-technology distributor reported higher revenue and margins in the latest quarter.
Friday, March 11, 2011
Gold Price Steady Near $1,415
The gold price stabilized near $1,415 Friday morning, showing a muted reaction to an 8.9 magnitude earthquake that rocked Japan earlier today. While the price of gold moved marginally higher, silver came under heavy selling pressure – falling 2% to $34.51 per ounce. Both precious metals have moved off their record highs posted in recent weeks on the back of a stronger U.S. dollar.
This morning’s modest strength in the gold price follows yesterday’s $17 retreat, in which the yellow metal fell victim to widespread liquidation on Wall Street. A bevy of bad news hit the markets yesterday, including Moody’s downgrade of Spain’s credit rating, escalating violence in the Middle East and North Africa, and weak employment data in the U.S. The Dow Jones Industrial Average (DJIA) plunged 228.33 points, or 1.9%, to 11,984.76, its largest single-day decline since August 11, 2010.
Although the gold price suffered its worst day since January 27 of this year, it rebounded $10 from its intra-day low on reports that police in Saudi Arabia fired on protesters. Oil jumped alongside the gold price following the Saudi news, spiking from $100.62 to above $104 per barrel. The violence came one day ahead of planned anti-government protests, termed the “Day of Rage” in which Saudi citizens intended to voice their displeasure with economic and political restrictions. While the most substantial turmoil thus far has occurred in nations with smaller economies – such as Libya, Egypt, and Bahrain – the vast oil reserves of Saudi Arabia make it a more significant threat to the global financial system.
Commenting on the multitude of recent global headwinds, Raoul Pal, author of The Global Macro Investor, contended that the excessive debt level is the key structural economic factor behind the challenges. Mr. Pal, who previously held positions at Goldman Sachs and hedge fund GLG Partners, noted that outstanding debt around the world has reached unprecedented levels. At 300% of total global debt to GDP, “that is simply and utterly mind-blowing and we are making next-to-zero progress in dealing with it.” While “governments around the world have tried their utmost to try and brush it under the carpet and hope it all goes away,” policymakers will eventually have to face the music of defaults or hyperinflation.
Pal went on to say that “The fiat currency system is at the root of this. Without anything of real value to back your currency except vast stores of the fiat debt-based currency of your major trading partners, currencies do not reflect true economic values.” He specifically pointed to export nations in Asia, which “can remain super-competitive for so long that they hole out entire economies, and weaker non-export countries can continue to buy the goods because their currencies remain unrealistically strong.”
“I am no great believer that a gold standard is the right answer but it would correct this issue almost overnight. Without doing something about this problem, the world remains incredibly at risk of a default by non-exporting, consumption-based economies, because that is the main support for the global economy. Sad, but true.”
While Pal did not go into more detail specifically on the gold price, his views suggest the global economy will continue to face significant challenges in the years ahead. Moreover, with the risk of sovereign defaults remaining high, in his opinion, faith in fiat currencies is likely to continue to decline. Historically, such an environment provides a robust recipe for higher gold prices.
The gold price stabilized near $1,415 Friday morning, showing a muted reaction to an 8.9 magnitude earthquake that rocked Japan earlier today. While the price of gold moved marginally higher, silver came under heavy selling pressure – falling 2% to $34.51 per ounce. Both precious metals have moved off their record highs posted in recent weeks on the back of a stronger U.S. dollar.
This morning’s modest strength in the gold price follows yesterday’s $17 retreat, in which the yellow metal fell victim to widespread liquidation on Wall Street. A bevy of bad news hit the markets yesterday, including Moody’s downgrade of Spain’s credit rating, escalating violence in the Middle East and North Africa, and weak employment data in the U.S. The Dow Jones Industrial Average (DJIA) plunged 228.33 points, or 1.9%, to 11,984.76, its largest single-day decline since August 11, 2010.
Although the gold price suffered its worst day since January 27 of this year, it rebounded $10 from its intra-day low on reports that police in Saudi Arabia fired on protesters. Oil jumped alongside the gold price following the Saudi news, spiking from $100.62 to above $104 per barrel. The violence came one day ahead of planned anti-government protests, termed the “Day of Rage” in which Saudi citizens intended to voice their displeasure with economic and political restrictions. While the most substantial turmoil thus far has occurred in nations with smaller economies – such as Libya, Egypt, and Bahrain – the vast oil reserves of Saudi Arabia make it a more significant threat to the global financial system.
Commenting on the multitude of recent global headwinds, Raoul Pal, author of The Global Macro Investor, contended that the excessive debt level is the key structural economic factor behind the challenges. Mr. Pal, who previously held positions at Goldman Sachs and hedge fund GLG Partners, noted that outstanding debt around the world has reached unprecedented levels. At 300% of total global debt to GDP, “that is simply and utterly mind-blowing and we are making next-to-zero progress in dealing with it.” While “governments around the world have tried their utmost to try and brush it under the carpet and hope it all goes away,” policymakers will eventually have to face the music of defaults or hyperinflation.
Pal went on to say that “The fiat currency system is at the root of this. Without anything of real value to back your currency except vast stores of the fiat debt-based currency of your major trading partners, currencies do not reflect true economic values.” He specifically pointed to export nations in Asia, which “can remain super-competitive for so long that they hole out entire economies, and weaker non-export countries can continue to buy the goods because their currencies remain unrealistically strong.”
“I am no great believer that a gold standard is the right answer but it would correct this issue almost overnight. Without doing something about this problem, the world remains incredibly at risk of a default by non-exporting, consumption-based economies, because that is the main support for the global economy. Sad, but true.”
While Pal did not go into more detail specifically on the gold price, his views suggest the global economy will continue to face significant challenges in the years ahead. Moreover, with the risk of sovereign defaults remaining high, in his opinion, faith in fiat currencies is likely to continue to decline. Historically, such an environment provides a robust recipe for higher gold prices.
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