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  • Bon-Ton Stores (BONT) Gains on Earnings; Guidance, LogMeln (LOGM) Rebounds and Insulet (PODD) Gains Again 0 comments
    Aug 20, 2009 1:29 PM | about stocks: BONT, LOGM, PODD

    Bon-Ton Stores (NASDAQ:BONT) earnings and guidance propel stock, LogMeln (NASDAQ:LOGM) rebounds again and Insulet (NASDAQ:PODD) continues gains on new CCO.

    Spurred on by The Conference Board's index of leading economic indicators gaining 0.6 percent last month, stocks rallied today and Bon-Ton Stores (BONT) gained value on a new earnings and guidance report while LogMeln (LOGM) rebounded again and Insulet (PODD) continued its gains on appointing a new Chief Commercial Officer.

    Gaining 21.48% ($0.87), Bon-Ton Stores (BONT) set a new market cap of $91 million in early trading. BONT is currently trading in the $4.93 range on the Nasdaq. BONT has a 3-Month average daily trading volume of 82,667 shares and topped 651,643 shares traded today by mid-session.

    BONT reported Q2 2009 today. BONT total sales for the quarter were $609.2 million compared with $673.4 million in Q2 2008. BONT had a gross margin rate for the quarter that increased approximately 130 basis points to 37.1% of net sales compared with the prior year period. BONT SG&A decreased $23.5 million compared with Q2 2008.

    BONT had an operating loss for the quarter of $10.6 million, an improvement from the $32.3 million loss reported in the same period of 2008. A big improvement. Net loss totaled $34.8 million, or $2.04 per diluted share, for the quarter compared with a net loss of $33.8 million, or $2.01 per diluted share for Q2 2008.

    BONT shrank its FY 2009 loss estimates based on cost cutting and I believe that brought out the buyers today. BONT management noted the margin rate, but also that the Company realized a net reduction of $23.5 million in its selling, general and administrative (SG&A) expenses, bringing its year-to-date total expense savings to $42.4 million.


    BONT revised its guidance for full year 2009 EBITDA to a range of $150 million to $170 million and loss per diluted share in the range of $3.70 to $2.50. Additionally, the Company is looking for an SG&A expense decrease of approximately $80 million.

    BONT operates department stores in the mid-size and metropolitan markets of the U.S. BONT has 280 stores under various nameplates operating in 23 northeastern, mid-western, and upper Great Plains states.

    BONT has $3.17 billion in trailing twelve month revenues. At $4.93, BONT is below its 52-week high of $5.42 set on 08-20-08 and above its 52-low of $0.76 set on 11-20-08. At $4.93, BONT is above both its 50-day and 200-day moving averages. Its shares out versus float ratio is close enough to parity to avoid any red flags.

    ... a busy stock indeed ...

    Gaining 10.26% ($1.59) in early trading is LogMeln (LOGM) currently trading in the $17 range on the Nasdaq. LOGM has a 3-Month average daily trading volume of 479,926 shares and was well on its way to matching that by mid-session today.

    LOGM has had a busy August: On the 5th, it announced Q2 total revenues of $18 million, a 58% gain over Q2 2008. LOGM's Q2 net income increased to $0.10 per diluted share from a net loss attributable to common shareholders of $0.92 per diluted share in Q2 2008. Good numbers. Then it hit a 52-week low on the 7th. Rebounded on August 9th with an impressive three major research firms initiating coverage (Thomas Weisal: Overweight; Barclays Capital: Overwreight; and JP Morgan: Overweight). LOGM then hit another 52-week low on the 18th and on the 20th, today research firm Piper Jaffray upgraded the stock from Neutral to Overweight.

    That's busy. I believe today's upgrade sent the stock past a 10% gain.

    LOGM provides on-demand, remote-connectivity solutions to small and medium-sized businesses, information technology (NYSE:IT) service providers, and consumers.

    At $17, LOGM is below its 52-week high of $20.99 set on 07-30-09 and is above its 52-week low of $15.17 set on 08-18-09. At $17, LOGM is below both its 50-day and 200-day moving averages. LOGM has trailing twelve month revenues of $65 million and a trailing twelve month diluted EPS of $0.20.

    Finally, Insulet Corp., (PODD) gained 8.69% ($0.78) in early trading today and is currently trading in the $9.70 range on the Nasdaq. PODD has a 3-Month average daily trading volume of 265,000 shares and set a new market cap today of $270 million.

    On Monday, PODD named Peter J. Devlin its chief commercial officer. What's a CCO? Per PODD management; the position is newly created and Devlin will lead the company's sales, market, business development, clinical research and customer care operations.

    Considering the quarterly numbers PODD turned in on August 4th, I believe shareholders wanted someone to take over the sales at PODD, and getting what they had hoped for, has kept the stock on an upwards trend.

    PODD makes and sells an insulin infusion system for people with insulin-dependent diabetes in the U.S. PODD sells the OmniPod Insulin Management System, an insulin infusion system that provides a pain-free automated cannula insertion.

    At $9.70, PODD is below its 52-week high of $16.84 set on 09-19-08 and is far above its 52-week low of $2.57 set on 03-09-09. At $9.70, PODD is above both its 50-day and 200-day moving averages. PODD is widely held by institutions. Its shares out versus float ratio is close enough not to raise any red flags.

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    Stocks: BONT, LOGM, PODD
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