DALLAS (August 2, 2007) – Public companies love to release positive news and watch the reflection in their stock prices. The following companies released positive news of some kind today or late yesterday and then watched as their stock prices closed very strong.
Shares of Amish Naturals Inc. (OTCBB: AMNT) closed at $2.20 this afternoon, an increase of 19 cents, nearly 10 percent. This morning the company announced that Shaw’s Supermarkets has given Amish the go ahead to put its organic Amish-crafted fettuccines in 150 store locations through six north-eastern states. The products are expected to hit the shelves starting October 1.
Paivis Corp. (OTCBB: PAVC) shares soared throughout the day, climbing 21 cents, nearly 162 percent, to 34 cents this afternoon. Today the prepaid cellular business announced it has entered into a Letter of Intent with Detroit Phone Cards Inc. to acquire 100 percent of its outstanding stock. Detroit Cards generates roughly $30 million in revenue, and $6 million annually, in prepaid cellular phone revenue. Pavis said the acquisition may improve the company’s infrastructure and result in cost savings and higher margins.
8×8 (Nasdaq: EGHT) had a strong finish today, climbing $1.52, about 14 percent, to $1.52 at the market’s close. The Voice over Internet Protocol (VoIP) provider reported a first-quarter net income of $580,000, as compared to a loss of $1.8 million for the same period last year. The company also reported revenue of $14.7 million, compared to $12.3 million the year prior.
Cubic Corp. (AMEX: CUB) shares rose $6.06, or 22 percent, settling at $33.45 at the day’s end. The activity comes from news of the company’s third-quarter earnings, which were up 87 percent on a sales increase of 9 percent. Third-quarter sales were $233.7 million compared to $214.9 million the year before. Net income rose to $11.2 million, up from $6.0 million in the same quarter last year.
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