SBCF Up 11% and Med-Tech MDRX Jumps Up 9% in Early Trading.
As 'Madoff Madness' got underway in a New York court this morning, the markets gave rise to his the possibilities of his sentencing; an unknown outcome at the time of this writing. I hope the regulators involved will take note of what did and what didn't work and do something about both. As the primary whistle-blower pointed out; giving people 12% on public investments when money markets funds were at 2% was a good indicator that something was wrong. Buyer beware.
While the sentencing news will certainly capture the headlines this afternoon, quietly; there are a few Small-Cap companies making good gains today.
Kirkland's Inc., (NASDAQ:KIRK) http://www.kirklands.com/ trading on the Nasdaq in the $11 range jumped $0.75 (7%) in early trading today from a late Friday upgrade on the stock at Sun Trust from 'neutral' to 'buy'. KIRK's average 3-Month daily trading volume is 607,717 and it had beat that handily two hours into today's session. KIRK has a market cap of $233 million.
Kirkland is a home furnishings company and last Thursday, the entire industry took a jump on the strong, 14% increase in first-quarter profit of Bed, Bath & Beyond (NASDAQ:BBBY). Just like BBBY is benefiting from Linens 'n Things going bankrupt and thus consolidating the industry, so too is Kirkland benefiting from BBBY. The Home Furnishing Retailer Stocks Index is now beating the S&P 500 by 15% over the last month.
KIRK has posted 20% 1-Month gains and in the $11 range, is daily setting new 52-week highs. KIRK operates stores under the Kirkland's, Kirkland's Home, Kirkland's Home Outlet, and Kirkland's Outlet trademarks. As of January 31, 2009, it operated 299 stores in 34 states. At $11, KIRK is far ahead of both its 50-day and 200-day moving average on trailing twelve month revenues of $390 million. I would like to see a few more shares in the float, but the stock is stable.
Also making a solid gain today is Protection One (PONE) http://www.protectionone.com/ Trading on the Nasdaq in the $4 range. PONE was up 18% (86 cents) to $4.29 at the time of this writing. PONE has a market cap of $106 million.
With no official news today, I think PONE is getting ahead on the underlying support of its shareholders on taking advantage of recent good news via the message boards. Last week, PONE launched the 'Asset Protection Sensor', a security device created to prevent the theft of valuable possessions. It is a real-time monitoring service that provides updates directly to cell phones, PDAs and similar devices. The small sensor provides notification to users the instant a valuable item, such as a painting, cash box or computer with confidential data, is moved from its place. Pretty cool. Triggered when an item is moved for one to three seconds or tilted more than 30 degrees, the sensor certainly has met a demand and I'm sure insurance agencies will reduce their premiums (as they do for Lo-Jacks).
PONE's May numbers for the first quarter of 2009 posted an increase of 1.6% to $93.0 million as a result of increases in Wholesale monitoring revenue as well as in Retail installation revenue. But as a whole, the numbers were not great; but better than last year: net loss in the first quarter improved to $(2.8) million, or $(0.11) per share, from $(23.1) million, or $(0.91) per share, during the same period in 2008.
A new product can make a world of difference.
PONE, as of December 31, 2008, monitored approximately 1.8 million sites, including 574,000 retail customers; 4,600 independent alarm monitoring companies representing approximately 991,000 customers; and 240,000 multifamily units in 1,500 properties.
At $4, PONE is well below its 52-week high of $10.12 set on 09-24-08 and is far beyond its 52-week low of $0.83 set on March 12 of this year. At $4, it has nudged past both its 50-day and 200-day moving average. PONE has trailing twelve month revenues of $373 million.
Also making head-way today is Seacoast Banking Corporation of Florida (NASDAQ:SBCF) http://www.seacoastbanking.net/ trading on the Nasdaq in the $2.40 range on a 3-Month average daily trading volume of 104,440 shares. SBCF was up 11% (25 cents) in early trading. SBCF has a market cap of $46.
Like PONE, I think SBCF is being supported and pushed up in gains by its current base of shareholders. It can't be the numbers: In May SBCF reported a net loss for the first quarter of 2009 of $(0.30) a share which is better than the year-over-year loss of $(1.19). It is a move in the right direction however and I for one like regional and local banks and thrifts that have navigated the recession and survived. As of December 31, 2008, SBCF had 42 banking offices in 14 counties.
In the $2.40 range, SBCF is off its 52-week high of $13.25 set on 09-19-08 and pennies above its 52-week low. SBCF is also below its' both its 50-day and 200-day moving average. I would like to see some more shares in the float and perhaps the newly elected board of directors will get some more shares into the market.
Finally, a recent acquisition is beginning to pay off for Allscripts-Misys Healthcare Solutions (NASDAQ:MDRX) http://www.allscripts.com/ trading on the Nasdaq in the $16 range with a market cap of $2.3 billion. In early trading today, MDRX easily surpassed its 3-Month average daily trading volume of 1,973,880 shares.
Since Allscripts and Misys combined, orders for its new subscription-based service rose from $8 million to $27 million. Shares of MDRX jumped to a 52-week high last Thursday when the Company reported its revenues for the quarter ended May 31, came to approximately $103 million, up 26% from a year ago.
MDRX operates in four segments: Professional Solutions, Enterprise Solutions, Health Systems Group, and Medication Services. Allscripts' solutions are used by approximately 150,000 physicians and 700 hospitals, as well as other healthcare providers in clinics, post-acute care facilities, and homecare agencies to automate and connect their clinical and business operations.
At $16, MDRX is ahead of both its 50-day and 200-day moving averages on trailing twelve month revenues of $479 million. Again, I would like to see more shares in the float.
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