Thursday, October 4, 2012

Vringo, Inc. (AMEX:VRNG) Jumps Another 17% - RAD, VRNG, BP, ZUMZ, ROST

Rite Aid Corporation(NYSE:RAD) shares climbed 0.43% to $1.15 in the early hour after the company announced monthly sales For the four weeks ended Sept. 29, 2012, same store sales decreased 0.7% over the prior-year period. September front-end same store sales increased 2.8%. Total drugstore sales for the four-week period decreased 1.5% to $1.899 billion compared to $1.927 billion for the same period last year.

On Sept. 29, 2012, the company operated 4,639 stores compared to 4,694 stores in the like period a year ago.

Vringo, Inc.(NYSEAMEX:VRNG) shares jumped 17% to $5.02 after a judge yesterday denied Google Inc a motion for summary judgment in a patent dispute. Google was sued by Innovate/Protect Inc, which was acquired by Vringo. Vringo is seeking an award of at least $696 million from Google. Yesterday, the stock was up 39%.

Will VRNG Hit $6 Before The case Date? Find Out here

Additionally, the company, on Sept.26, Vringo filed an 8-k with the SEC challenging ZTE to license patents for technology ZTE has been using since 2002. The patents cover Vringo's proprietary technologies that are considered essential to infrastructure equipment and mobile stations compliant with GSM and GPRS specifications.

BP plc (ADR)(NYSE:BP) shares declined 0.45% to $42.06 in the morning hour after Energy Minister John Hayes said that Britain's gas production is set for a 3% boost next year from current levels after BP's Devenick North Sea gas field started production. BP and RWE Dea, which owns 11.3% of the field, spent 650 million pounds ($1.04 billion) on the project, where appraisal well drills between 1986-2001 indicated around 430 billion scf of gas was in place at the site.

Additionally, BP‘s stock had its “neutral” rating reaffirmed by research analysts at Exane BNP Paribas in a report released today. They currently have a $8.04 (500 GBX) target price on the stock.

Zumiez Inc.(NASDAQ:ZUMZ) stock increased 0.58% to $26.18. The company, this week, said its September same-store sales rose 5.6%. That beat the 3.2% average estimate of analysts. Additionally, Zumiez‘s stock had its “neutral” rating reiterated by equities research analysts at Piper Jaffray in a research note issued to investors yesterday. They currently have a $27.00 price target on the stock.

Ross Stores, Inc.(NASDAQ:ROST) stock fell 1.37% to $65.75 after the company announced that earnings per share for the third quarter of 2012 are now projected to be in the range of $.70 to $.71. Guidance for the remainder of 2012 is unchanged. October same store sales are forecast to be up 3% to 4%. For the fourth quarter of 2012, the Company continues to project same store sales to be up 1% to 2%, EPS remains in the range of $.99 to $1.04, which includes an estimated $.08 to $.09 benefit from the 53(rd) week this year.

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