There were numerous stocks that rallied on Thursday but here are some of the ones that gained little attention following news about the companies.
Worthington Industries (WOR) jumped 9.8% after increasing its dividend and share repurchase authorization, and announcing Q4 results. The company increased its quarterly dividend by 20% to $0.12 per share. The company also authorized the repurchase of up to an additional 10 million of its outstanding common shares. A prior authorization has 494,802 shares remaining on it, making the total authorized to be 10,494,802 shares, or approximately 15% of the outstanding common shares. Worthington reported Q4 sales of $675.7 million and EPS $0.70 per share. In last year’s Q4, the company reported EPS of $0.42.
USANA Health Sciences (USNA) closed up 7.9% after reporting preliminary Q2 results. The company reported that preliminary net sales for its fiscal second quarter are expected to exceed $147.0 million and EPS for the quarter is expected to be at or above $0.85. Earnings per share for the period will benefit by approximately $0.06 due to the recapture of unvested equity compensation expense related to the departure of certain executives from the company. Both of the figures exceeded analyst estimates.
RiT Technologies (RITT) jumped 29.5% after it announced several major orders from one of its largest customers. The orders, which total over one million dollars, are for the expansion of the PatchView intelligent infrastructure management systems currently deployed in the client's international headquarters and central datacenters.
Leading Brands (LBIX) was on fire, rallying over 37% after two announcements. First, the company reported that Q1 EPS came in at $0.12 compared to $0.10 a year ago; gross revenue for Q1 was $5,345,000 compared to $5,556,000 last year. Leading Brands noted that the small decline in revenues was principally due to colder than average weather conditions in the company's principal markets during Q1. Additionally, the company discontinued distribution of a licensed beverage brand in January 2011. The company also announced that its Chairman and CEO, Ralph McRae, acquired common shares and options to acquire common shares which together have increased his ownership or control over common shares and stock options of the Company to approximately 12.2%.
Swisher Hygiene (SWSH) closed up 9.3% after announcing an acquisition of Proclean Systems, a southeast hygiene and chemicals company. Proclean covers the greater Philadelphia and adjacent markets and provides specialty chemicals and service programs to the foodservice and hospitality industries, including warewashing and laundry services. Total consideration paid by Swisher Hygiene in connection with the acquisition includes $700,000 in cash, the assumption of certain liabilities and the issuance of up to 291,891 shares of common stock of Swisher Hygiene.
Quepasa (QPSA) jumped 5.5% after it announced preliminary results from the launch of its game, Cidade Maravilhosa - Rio, on Facebook. Quepasa highlighted that Cidade Maravilhosa achieved over 150,000 installs in its first 10 full days on Facebook, with daily installs growing over 1,100% w/w as of June 28th. Quepasa also reported that Cidade Maravilhosa reached over 90,000 Daily Active Users, or DAUs, within the same period, representing more than 840% w/w growth. The game's consumption has been driven primarily by Latin American audiences, with Argentina, Mexico and Colombia driving the majority of its growth thus far.
Concurrent Computer (CCUR) rose 6.8% after it said that it reached agreements for next generation video-on-demand (VOD) solutions with four leading cable television operators in China. Concurrent is providing VOD solutions to Jiangsu CATV, Jilin CATV, Mudianjiang CATV, and Xizhou CATV, whose combined subscriber base represents more than 25 million households.
Solazyme (SZYM) climbed 5.4% after it announced that it signed agreements with Sephora Canada and The Shopping Channel to launch Algenist, Solazyme's microalgae-based prestige anti-aging skincare line throughout Canada. The Algenist product line will begin selling in all 26 Canadian Sephora stores and on The Shopping Channel’s highest rated beauty programming starting in July 2011.
China Natural Gas (OTC:CHNG) jumped 10.4% after Qinan Ji, Chairman and Chief Executive Officer of the company, said that he entered into an exclusivity agreement with a consortium backed by Themes Investment Partner to acquire the company. Mr. Ji said that he intended formulate a proposal to acquire all of the shares of the company he and his affiliates do not own through a going private transaction at a proposed price of $4.25 per share in cash.
Cardica (CRDC) closed up 11.2% after Cardica said that it completed the internal design verification process for its proprietary Microcutter XPRESS 30 surgical cutting and stapling device necessary to apply the CE Mark to this product for commercial use in Europe. Cardica plans to initiate first-in-man use of the XPRESS 30 in selected European centers starting in July.