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Strategies & Market Trends : Lizard King's Trading Swamp

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To: James R.Gross who wrote (7255)	10/11/1999 7:53:00 AM
From: kendall harmon	Read Replies (1) of 7396

LCBM--gman, I came across this piece and did not know if you had seen it <<Shares of Lifecore Biomedical, Inc. (LCBM) are trading higher today on news that the FDA has scheduled a review of the company's application for its ferric hyaluronate product, INTERGEL(TM) Adhesion Prevention Solution. LCBM appeared in the 3:00 p.m. EDT ProSearch run of Undervalued High Growth Stocks. The stock broke through resistance at $12 1/2 on strong volume and has been trending higher since. Today's intraday high of 15 5/8 represents a new 52-week high for LCBM. Investors should monitor the volume and price range closely during the end of the trading day. A close near the bottom of the intraday range on strong could indicate that the stock could converge with its 10-day moving average over the next few days. A close above $15 with strong volume would suggest that the stock could gap higher at the beginning of trading on Monday. LCBM manufactures surgical devices that are designed to reduce the incidence of post-surgical adhesions and titanium-based dental implants for the replacement of lost or extracted teeth. Revenues for the fiscal year ended June 30, 1999 rose $27.3 million, an increase of 6.6 percent over fiscal 1988 revenues of $25.6 million. Earnings per share rose to $0.13, compared to $0.02 a year ago. The company reported long-term debt of $6.6 million (debt-to-equity of 0.18) and negative cash flows from operating activities of $5.8 million. The company has 12.4 million shares outstanding and a float of 8.3 million.>> wallstreetcity.com

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