Analyst gives $75 target price for RRRR....YEAH BABY....
My waiting and waiting is paying off!!! Hope this is hitting everyones radar screens that gave me such heck a few months back!!!
Read below:::::
-------------------http://aolpf.marketwatch.com/source/blq/aolpf/archive/19991209/news/current/movers.asp
Credence ahead of estimates
Also: Harbinger, Aftermarket Technology
By Debra McGarry, CBS MarketWatch
Last Update: 7:53 PM ET Dec 9, 1999 News Index
SCREAMER: Vertel (vrtl) shares skyrocketed 180 percent Thursday, or 5 25/32 to close at 9 after the company announced the release of E-Orb, a new product for the telecommunications industry. Vertel provides products for broadband Internet and telecommunications networks. See Screamers.
U.S. stocks to watch
Aftermarket Technology (atac) said after the market closed that the company will likely match analysts' expectations for the fourth quarter. The company also said that it expects to earn $1.25 a share next year. Analysts surveyed by First Call expect the car parts maker to earn $1.17 a share. The stock gained 11/64 to close at 8 43/64.
Beyond.com (bynd) shares edged higher in after-hours trading after the company said it received a five-year, $4.5-million contract to deliver and maintain Microsoft software on 3,500 computers at the Office of the Comptroller of the Currency. Beyond.com is working with Intellisys Technology Corporation. The stock closed off 3/32 at 9 13/16, but moved to 10 13/32 on Island.
Broadbase Software (bbsw) said it will spend $331 million in stock to acquire Rubric. The company said the acquisition will boost its online marketing effort. Broadbase shares dipped 3 7/16 to close at 92 ahead of the acquisition. The shares have doubled in the last seven weeks.
After the close of trading, Burlington Resources (br) announced that expenditures for the year 2000 exploration and development budget increased 26 percent to $1 billion over 1999's estimated expenditures. Shares closed down 1/8 at 31. See full story.
After the market close, Credence Systems (cmos) posted pro forma net income of $9.5 million, or 42 cents a share, excluding charges, for the fourth quarter. In the same period last year, the company had a net loss of $8 million, or 39 cents a share. Analysts projected a profit of 31 cents for the quarter. Sales jumped to $80.2 million in the quarter from $22.4 million in last year's quarter, a 258 percent year-to-year hike. The Fremont, Calif.-based company said booking activity reached record levels in the fourth quarter. Credence makes automatic test equipment for the semiconductor industry. Shares closed up 1 11/16 at 71 1/16.
Gtech and the New Hampshire Sweepstakes Commission have scrapped talks for the company (gtk) to provide online and instant ticket products and services over the next 6 years, announced after the market closed. Gtech shares closed off 1/2 at 19 15/16.
Harbinger Corp. (hrbs) said after the market closed that the company's revenue will likely meet or exceed Wall Street projections for the fourth quarter. Quarterly earnings are expected to meet analysts estimates. Analysts on average forecast the profit at 8 cents a share, according to First Call. The business-to-business software, services and solutions provider also said the outlook for 2000 is favorable. Shares closed up 5/16 at 18 5/16.
Mallinckrodt (mkg) announced after the market closed that it received U.S. Food and Drug Administration clearance to market its new magnetic resonance imaging agent, OptiMARK. The health care products manufacturer and distributor said it expects to begin shipping the product in the first-quarter of 2000. OptiMARK is used in MRI diagnostic procedures to provide increased enhancement and visualization of lesions of the brain, spine and liver, including tumors. Shares closed off 5/8 at 29 15/16.
Pegasus Communications (pgtv) announced after the market close that it plans to acquire 6 independent DIRECTV providers for approximately $100.9 million in cash and stock. After these acquisitions, which will serve about 43,500 direct broadcast satellite subscribers (DBS) in the U.S., the media company will own 57 percent of independent DIRECTV providers across the country. Shares closed down 3 5/8 at 76 1/2.
Smith Micro Software (smsi) shares popped up to 8 on Island ECN after the stock tripled during the regular session. The jump came as the company introduced voice messaging and fax software for Macintosh computers. The stock closed up 4 1/16 at 5 13/16 during the regular session.
U.S. advancers for Thursday
Amazon (amzn) shares gained 15 1/16 to close at 103 5/8, a leap of 17 percent, after J.P. Morgan initiated coverage of the stock with a "buy" recommendation. Equity research analyst Tom Wyman said he sees the stock reaching $160, citing expectations of "major " new category announcements and robust revenue. The Goldman Sachs Index climbed 4.5 percent. See Internet Stocks.
California Amplifier (camp) shares jumped 2 5/8 to 29 5/8 after the company reported third-quarter net income of $1.59 million, or 12 cents a share. Analysts expected a profit of 9 cents a share. Last year the company posted a net loss of $205,000, or 2 cents a share. Sales rose to $26.2 million from $9.68 million a year earlier.
Com21, Inc. (cmto) shares surged 4 5/8 to 25 1/4, or 22 percent. The company said that two products in its cable modem product line have received CableLabs certification. CableLabs is a consortium of cable operators based in North and South America which was established to ensure compatibility of cable services.
Corel (corl) shares climbed 38 percent, or 10 15/16 to 39 1/4 amid the Canadian software maker?s recent launch of its Linux system for desktop computers. The stock surged 25 percent on the strength of the Linux software. Enthusiasm for Linux rose on Tuesday after Dell Computer (dell) said it would install Red Hat's (rhat) Linux into Dell servers. Red Hat shares increased 15 to 286 1/4. Increasing use of the Linux technology expands the market for Corel's software that are now being developed. See Software Report.
Datatec Systems (datc) shares surged 2 1/16, or 54 percent, to 5 7/8 after the company announced that it was selected to deploy IBM's network services offering. The company helps gather and manage design elements and project-related information that comprise any deployment project. IBM shares (ibm) dipped 4 91/128 to 113 9/16.
Digital Island (isld) shares ran up 29 11/16 to 144 5/8, after soaring 65 percent Wednesday following the announcement that it would team up with Sun Microsystems (sunw) and Inktomi (inkt) to offer high-speed services for businesses operating on the Internet. Sun shares rose 1 9/16 to 80 while Inktomi shares fell 1 1/16 to 166 15/16. See Internet Stocks.
E-Toys (etys) shares lost 4 3/8 to 48 3/4 after J.P. Morgan analyst Tom Wyman initiated coverage of the stock with a "market perform" rating and a 12-month price target of $50. Wyman
Fogdog (fogd) shares shot up 20 percent after the sporting good e-tailer opened at $19 in its stock debut. The company priced its 6 million share offering at $11, above its $8 to $10 range. CS First Boston is the lead underwriter on the deal. Shares rose 2 1/8 to 13 1/8. See IPO Report.
Internet Capital Group (icge) shares swelled 28 1/8 to 241 1/2 after the Internet holding company agreed to sell 609,533 shares to AT& T (t) for $50 million. News of the investment pushed up Internet Capital Group?s stock on Tuesday. AT&T shares added 53/256 to 57 13/16.
Jazztel (jazz) shares spun up 246 percent after the company priced its $158 million IPO at $17.45. The Spanish telecom player readied its debut with lead underwriter Goldman Sachs. Shares added 41 15/16 to 58 15/16. See IPO Report.
Today on CBS MarketWatch
Tech pullback hits Street
IPOs: VA Linux's epic debut
Amazon.com surge lifts all waters
Barnes & Noble, IBM print-on-demand play
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CBS MarketWatch Columns
Updated:
12/9/99 4:34:26 PM ET
Lycos (lcos) shares powered up 8 3/4 to 85 9/16 on reports the Web portal would take its European joint venture public. The IPO of Lycos Europe, which is 50 percent owned by the Web portal, is expected early next year, according to the Financial Times. The other half is owned by German media giant Bertelsmann and Lycos Europe's chief executive. The IPO would represent 15-to-20 percent of the venture and could value the search engine at approximately $4 billion, according to the FT.
Mobius Management Systems (mobi) shares increased 4 5/8, or 80 percent, to 10 3/8 after the company announced that it's Click-n-Done subsidiary has unveiled a new Web-based bill presentation and payment system. This allows users to securely retrieve and pay archived bills and statements over the Internet. This new product opens a new revenue channel, but Mobius expects to continue incurring significant costs related to its investment in Click-n-Done.com's Internet solution.
National Instruments (nati) shares shot up 12 percent after the company is teaming with Dell Computer (dell) to produce workstations loaded with technology that engineers use for measurement. "Working with Dell is a natural fit," said Dr. James Truchard, National Instruments' president and CEO. "Many of National Instruments customers already use our products in Dell computers." Dell shares lost 3/4 to 42 3/4.
Shares of Providian Financial (pvn) hiked up 3 13/16 to 85 1/2 after the company?s board okayed the extension of its stock buyback plan. The extension enables the San Francisco firm to acquire up to $500 million of its outstanding stock during 2000.
Puma Technology (puma) shares climbed 8 to 82 after the company announced it'll acquire privately held NetMind Technologies for 5 million shares. The acquisition is expected to help Puma's effort to get information from networks to wireless tools. Based on Puma's closing price of 74 Wednesday, the deal is worth $370 million. See full story.
Shares of Rare Medium Group (rrrr) zoomed up 9 percent after Sands Brothers Investment raised the Internet service firm?s price target to $75 a share and reiterated their "buy" recommendation on the stock. The investment firm said in a research note that they believe Rare Medium has further significant upside potential. Shares rose 3 7/16 to 41 7/16.
VA Linux Systems (lnux) shares skyrocketed 733 percent after the Web server maker priced its shares at $30 each, the top of its range. The Silicon Valley firm nearly tripled its projected price range since Tuesday when it eyed an $11-to-$13 level. Shares traded up 220 to 250. See IPO Report. |
