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 Metropolitan Health Networks (AMEX: MDF) closed up 16 cents, about 10 percent, to $1.85 this afternoon, moving on word of the company’s second-quarter financials. Today the company reported its revenue increased 23 percent to $70 million, also reporting that its net income for the quarter rose to $1.5 million as compared to $404,000 the same quarter last year. The Florida-based healthcare provider said it increased its Medicare Advantage customers by 1,200 between June 2006 and June 2007.
GammaCan International (OTCBB: GCAN) shares rose 9 cents, nearly 18 percent this afternoon, to 60 cents at the market’s close. The company announced today the U.S. Food and Drug Administration (FDA) has granted the company Orphan Drug designation for its melanoma treatment, VitaGam. This designation gives GammaCan exclusive marketing rights for up to seven years for the product; during those years, the FDA won’t approve any applications for such treatment.
HemoSense Inc. (AMEX: HEM) shares rose $3.13, up nearly 34 percent to $12.40 Tuesday afternoon. The company announced its third-quarter revenue was up $9.2 million, nearly 101 percent from $4.6 million the same period last year. Net loss for the third quarter decreased to $687,000 from $3.1 million the year prior. Additionally, the company announced earlier this week it has entered into an agreement with Inverness in which Inverness will acquire HemoSense in an all stock transition.
Though no news was released to prompt such movement, the following companies stock rose sharply throughout the day: Red Rock Pictures Holdings (OTCBB: RRPH) shares settled at 59 cents, up 26 cents, nearly 79 percent; Javelin Pharmaceuticals (AMEX: JAV) shares were up 54 cents, nearly 13 percent, to $4.80 Tuesday afternoon; and Anooraq Resources (AMEX: ANO) shares climbed 45 cents, nearly 19 percent, to $2.90.
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