Every public company loves to put out good news and see the reflection in its stock price. The following three companies released positive news of some kind today or late yesterday and then watched as their stock prices closed very strong.
Shares of Law Enforcement Associates Corp. (Amex: AID) closed up 14 cents (25 percent) to 69 cents per share on volume of 37,300. The company received orders for more than 60 of its new covert tracking system from 28 domestic law enforcement and intelligence agencies. Total value of the orders, which have been received during the past several months, is approximately $425,000.
Shares of Hyperdynamics Corp. (Amex: HDY) closed up 50 cents (21 percent) to $2.98 per share on volume of 1,942,700. The company announced that its wholly owned subsidiary, SCS Corporation has realized a positive disposition of its lawsuit against USOil Corporation. The case, which was filed July 29, 2005, was dropped after USOil made admissions before the court regarding the old and now defunct 2002 Production Sharing Agreement. The admissions effectively sever any and all ties Hyperdynamics once had with USOil in conjunction with the old agreement that Hyperdynamics once operated under for oil and gas exploration and production offshore the Republic of Guinea.
Shares of 1-800 Contacts Inc. (Nasdaq: CTAC) closed up $3.92 (20 percent) to $24.00 per share on volume of 302,233. The company announced that it has entered into a definitive merger agreement with affiliates of Fenway Partners LLC pursuant to which Fenway Partners will acquire 1-800 CONTACTS for $24.25 per share, representing a premium of approximately 21 percent over the June 1, 2007, closing share price of $20.08 and a premium of approximately 34 percent over the average closing share price during the 30 trading days ending June 1, 2007. The total value of the transaction is approximately $340 million.
