ALGN, SIVB and SNWL released impressive second quarter reports late yesterday and this mornings trading response results in higher share values and record volumes.
Well we're still over 9,000 on the Big Board as of this writing and who knows, by the end of trading today we may have a twelfth day of the bull-rally. Whatever happens today, it has been a great week for Small Cap stocks. Big volumes and substantial share price increases in the stocks we brought you outlasted any see-saw sessions and overcame any doubts about valuation and companies on the move.
With second quarter reports released late yesterday, good news; ALGN beats analysts on Q2 earnings, SIVB Q2 easily surpasses Q1 numbers and SNWL sets a new 52-week high today.
Continuing the upward trend of the week today, let's start with a member of the S&P Small Cap 600 that gained 18.39% ($1.74) in early trading this morning: Align Technology (ALGN) http://www.aligntech.com/ now trading on the Nasdaq in the $11.20 range. ALGN posted a 13% jump in second-quarter profit late yesterday and beat the expectations of analysts. ALGN has a new market cap of $741 million. ALGN has a 3-Month average daily trading volume of 818,244 and today shot past 1,282,985 in early trading.
ALGN reported Q2 net income of $4.5 million, or 7 cents a share, up slightly from $4 million, or 6 cents a share in the same period last year. ALGN's revenues slipped a little; posting $76.3 million this quarter, down from $79.9 million in the Q2 a year ago. Analysts were looking for 1 cent per share on $69.7 million in revenue.
ALGN makes and sells the Invisalign System for treating the misalignment of teeth. ALGN distributes its product directly to orthodontists and general practitioner dentists in the U.S., Europe, Asia, Latin America and Japan.
At $11.20, ALGN is below its 52-week high of $13.74 set on 09-02-08 and is far above its 52-week low of $4.88 set on 10-24-08 (a good buy signal). At $11.20, ALGN is only slightly above its 50-day moving average and slightly above its 200-day moving average.
ALGN has trailing twelve month revenues of $299 million and trailing twelve month diluted EPS of $1.16. Considering the recession, not many companies of any cap size can say that.
Also breaking out on this 'still-up-in-the-air' Friday is SVB Financial Group (SIVB) http://www.svb.com/ gaining over 12% ($3.41) in early trading. SIVB is currently trading in $31.40 range and has a new market cap of $1.4 billion. The 3-Month average daily trading volume for SIVB is 588,000 shares and it had traded that many shares today by 11 a.m. EST.
A VERY NICE QUARTERLY REBOUND
SIVB reported its Q2 2009 numbers after market yesterday. Consolidated net income for the second quarter of 2009 was $7.8 million, or $0.24 per diluted common share compared to a net loss of $11.8 million, or $0.36 per diluted common share, for the first quarter of 2009. Nice. SIVB also posted a growth in average deposit balances of $504.9 million, or 6.4 percent, to $8.4 billion.
SIVB operates 27 offices in the United States; and 5 offices in China, India, Israel, and the United Kingdom. SIVB serves entrepreneurs in the technology and life sciences, venture capital/private equity, and premium wine industries. A good niche as the economy in the U.S. heals.
At $31.40, SIVB is less-than-half of its 52-week high of $69.90 set on 08-22-08 and is far above its 52-week low of $11.58 set on 03-06-09 (another good buy signal). At $31.40, SIVB is above both its 50-day and 200-day moving averages. SIVB has trailing twelve month revenues of $347 million, and like ALGN, and posts trailing twelve month diluted EPS in the plus category: $1.20. SIVB's shares out versus float ratio is at parity.
Also keeping the Small Cap rally alive today is SonicWALL (SNWL) http://www.sonicwall.com/ gaining $1.09 (17.44%) by noon EST. SNWL is currently trading on the Nasdaq in the $7.23 range with a new market cap of $389 million. SNWL has a 3-Month average daily trading volume of 284,792 shares and has quadrupled that by noon EST topping 1,424,644 shares traded so far.
SNWL reported Q2 numbers late yesterday for the quarter ended June 30, 2009, with revenue of $48.6 million. SNWL ended the quarter with cash, equivalents and total investments of $189 million. While reporting both GAAP and non-GAAP numbers (usually lower), SNWL had GAAP net income for Q2 $3.4 million, or $0.06 per diluted share. In comparison, GAAP net income for the second quarter of 2008 was $0.9 million, or $0.02 per diluted share; a strong 4 cent jump in a horrible recession.
SNWL makes and sells network security and content security systems worldwide. SNWL also offers Backup and Recovery Offsite Services that helps customers to recover data lost in the event of natural disasters; such as floods, fires, and electrical power surges, or from a theft in the business.
At $7.23, SNWL will set a new 52-week high today. Its 52-week low is $2.90, set on 11-21-08. At $7.23, SNWL is above both its 50-day and 200-day moving average. SNWL has trailing twelve month revenues of $210 million and like ALGN and SIVB, posts a trailing twelve month diluted EPS in the positive: $0.12. SNWL's shares out versus float ratio is also at parity.