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Monday, August 6, 2012

Mid Cao Stocks Recap (MELI, IPG, MTL, FWLT, KOG)


Mercadolibre Inc (NASDAQ:MELI) shares jumped 24.29% and closed at $82.68 in the last trading session. The company last week posted second-quarter net income of $25.38 million or $0.57 per share, up from $14.82 million or $0.34 per share in the previous-year quarter. Consolidated net revenues for the quarter rose 28 percent to $88.84 million from $69.38 million in the comparable quarter last year. Analysts expected the company to earn $0.49 per share on revenue estimate of $88.02 million.

Should MELI continue To Move Higher?

Additionally, JPMorgan Chase upgraded shares of MercadoLibre from a neutral rating to an overweight rating in a report issued last week.

Interpublic Group of Companies, Inc. (NYSE:IPG) shares climbed 13.33% and closed at $10.97 in the previous trading session. French advertising and communications firm Publicis SA yesterday denied it had approached Interpublic Group of Cos. IPG+13.33% with a view to a merger. Publicis said that it denied having engaged in any discussions with Interpublic Group of Cos and confirms that it has not commissioned any bank to undertake any such discussions.

How Should Investors Trade IPG After Recent Gain, Get Special Report

Mechel OAO (ADR) (NYSE:MTL) shares increased 9.68% and closed at $6.80 in yesterday’s session. The company last week said that steel production in the first-half of 2012 rose 13% to 3.39 million tonnes, while coal production for the period increased 7% to 13.38 million tonnes. Pig iron production for the first-half surged 10% to 2.02 million tonnes.

Foster Wheeler AG (NASDAQ:FWLT) shares jumped 8.86% and closed at $19.66 in the last trading session. Research analysts at Citigroup increased their target price on shares of Foster Wheeler from $20.00 to $21.00 in a report released on August 2, 2012.

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Additionally, the company last week said that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Samsung Engineering Co. Ltd. (Samsung) for a waste heat recovery unit for PTT Public Company Limited's (PTT) Power Generation and Heat Recovery project at the Map Ta Phut Industrial Complex in Thailand.

Kodiak Oil & Gas Corp (USA) (NYSE:KOG) shares climbed 7.94% and closed at $8.16 in the previous trading session. The company last week reported second-quarter net income of $93.1 million, or $0.35 per share, as compared to $14.0 million or $0.08 per share in the comparable quarter last year. Total revenue for the quarter rose to $85.77 million from $22.11 million in the year ago quarter. Analysts expected the company to report earnings of $0.10 per share on revenues of $99.88 million for the quarter.

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