Hot Stocks: Genetic Technologies, Sprint Nextel, MetroPCS Communications, Fortinet (S, GENE, PCS, FTNT)

Genetic Technologies Limited (ADR)(NASDAQ:GENE) is the biggest percentage gainer and soared 25% to $4.40 after the company today announced a favorable legal ruling from the European Patent Office regarding Agilent's opposition to patent EP 0853679, assigned to Affymetrix.

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Sprint Nextel Corporation(NYSE:S) showing huge buying in the opening session and popped up 14% after the company reported strong revenue growth, overshadowing its higher than projected loss and lost more costomers. The company said that incurred a loss of $1.37 billion, or 46 cents a share, compared to a year ago loss of $847 million, or 28 cents a share, in the year-ago period, analysts were estimating a loss of 46 cents a share. Revenue at the Overland Park, Kan., company was $8.84 billion, up 6 percent from a year ago. Analysts were expecting $8.72 billion.

For the full year, the company now expects EBITDA to between $4.5 billion and $4.6 billion versus its prior guidance of $3.7 billion to $3.9 billion.

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MetroPCS Communications Inc(NYSE:PCS) popped up 31.69% to $8.27 after the company solid profit and revenue growth in the second quarter. The company said that it earned $148.8 million, or 41 cents per share on revenue of $1.28 billion, compared to a year ago profit of $84.3 million, or 23 cents per share. Analysts were estimating the company to report 21 cents a share on revenue of $1.26 billion.

Fortinet, Inc.(NASDAQ:FTNT) added 10% as the company reported a 25 percent jump in quarterly revenue, helped by higher demand from U.S. enterprise customers. The company said that it earned $19.5 million or 12 cents a share on revenue of $129.0 million in the latest quarter, compared to a year ago profit of $15.3 million or 9 cents a share.

Analysts were estimating the company to report 12 cents a share.