Facebook (NASDAQ: FB) gained almost 6.5% on Wednesday after its Chief Executive Mark Zuckerberg made first public appearance ever since FB’s botched IPO.
Zuckerberg showed deep disappointment over stock’s freefall and acknowledged the fact that sliding stock value had a negative impact on employees’ morale. However, the Chief executive was positive on company’s long term outlook. According to Zuckerberg the switch from HTML5 technology to “native” mobile application will result in more users interacting through social network. Besides, the CEO also said that in long-term Facebook will be able to make more money per mobile user compared to what it generates now from per desktop user.
Mediaware Information Inc Systems (NASDAQ: MEDW) skyrocketed almost 39% after private equity firm Thoma Bravo LLC announced that it will buy MEDW in a deal estimated at about $195 billion. According to the deal, shareholders will receive $22 in cash for every common share held. The offer price represents a 40% premium over its Monday’s closing price. The deal is expected to close by the end of this year.
Coffee Holding Co Inc (NASDAQ: JVA) soared nearly 18% after the company reported strong fiscal third quarter results thanks to stronger sales and healthier margins. For the third quarter ended July 31, the company’s revenue rose 24 percent to $44.5 million from $35.8 million, in the year earlier quarter. Net income in the quarter stood at $1.2 million, or 19 cents per share, compared to $168,236 million, or 3 cents per share, in the corresponding period of last year. Analysts polled by Thomson Reuters had forecasted earnings of 1 cent a share on revenue of $36.00 million. Commenting over the results, JVA’s Chief executive, Andrew Gordon said to analysts in a conference call that despite of substantially lower commodity prices, the company was still able to increase its revenue by 24% over the same period from last year. “Although coffee prices on average were lower by $1.00 per pound, we achieved growth in our sales in all key areas, including green coffee sales, private labels sales and branded sales, while improving our gross margin by almost three percentage points as well,” added Gordon.
Abercrombie & Fitch (NYSE: ANF) shares soared nearly 3.5% after the company announced that it has retained Goldman Sachs as its advisor in the wake of relentless pressure from Relational Investors, which has raised stake of 3.8 percent in the retailer as of the second quarter. ANF is a specialty retailer of casual apparel for kids, women and men. At present, A&F operates 946 stores in United States and 99 stores in international markets. It has three business segments: U.S. stores, International stores and direct-to-consumer unit.
Department store operator Kohl’s Corp. (NYSE: KSS) jumped about 3.35% after Deutsche bank upgraded its rating to buy from hold. The investment bank said that improving same-store sales trends, a healthier balance sheet and a low-priced valuation compared to peers were the reasons behind the boost. The investment bank also raised its earnings outlook for fiscal 2012 and 2013 and lifted its price target to $62 from $49.
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