Tuesday, June 26, 2012
Hot Stocks Of The Day (MM, APOL, SUPN, JIVE, EBAY)
Millennial Media, Inc.(NYSE:MM) is among the top gainers and soared 7.05% thanks to note from Canaccord, which started coverage on MM and assigned a Buy rating with a price target of $18, representing a potential upside of over 34% from current market price of $13.42. The firm projects strong the mobile ad market's growth and considering the company’s strong position within the space), and sees international expansion driving upside to estimates. However, shares of the company are down about 405 from its IPO price.
Apollo Group Inc(NASDAQ:APOL) soared 9% as the for profit education firm reporter strong first quarter earnings boosted by strong revenue. The company reported earnings of $134.0 million or $1.13 per share on revenue of $1.13 billion, compare to a year ago profit of $212.4 million or $1.51 per share on revenue of $1.24 billion. Excluding certain costs, the company would have earned $1.20, ahead of analysts’ estimates of 97 cents a share on revenue of $1.12 billion.
Supernus Pharmaceuticals Inc(NASDAQ:SUPN) skyrocketed 108% and made a new 52-week high of $12.35 after the company’s epilepsy drug Trokendi has been tentatively approved by the Food & Drug Administration. Final authorization is conditional on Supernus resolving a marketing exclusivity issue regarding a specific pediatric population. The FDA also denies a Citizen's Petition filed in 2011 by Upsher Smith Labs related to its NDA on Trokendi XR.
Jive Software Inc(NASDAQ:JIVE) rose 5.82% as CEO Tony Zingale boasts he has been receiving calls from customers of rival Yammer who are worried about its sale to Microsoft However, he admits the deal could cause prospective Jive customers to hold off on buying, as they wait to see how Microsoft integrates Yammer with SharePoint. Separately, Capstone predicts LinkedIn will offer its own private social networking platform, and notes the company is testing a solution internally.
eBay Inc(NASDAQ:EBAY) is trading higher by 1.55% as analyst at Needham started coverage on the stock with a Buy rating and set a price target of $50, bullish on eBay's Marketplaces business, Needham expects strong revenue growth there to prompt upward guidance from management.