Opnext Inc. ( NASDAQ: OPXT ), last week, announced its third-quarter financial
results. The company reported third-quarter revenue of $97.1 million,
representing an increase of 12.4% over the previous quarter, 27.6% over the same
period in the previous year. The company reported a net loss of $10.2 million
for the third quarter, compared with a net loss of $14.4 million reported in the
previous quarter. Opnext shares have a 52-week range of $1.29-$2.91. The stock
is currently trading above its 50-day and 200-day moving averages. Since
announcing its third-quarter financial results, Opnext shares gained 29.03%.
Fremont, California-based Opnext is engaged in the designing and manufacturing
of optical components, modules, and subsystems for communications uses. Audiovox
Corporation ( NASDAQ: VOXX ), last week, announced that it signed a definitive
agreement to acquire Klipsch Group Inc. and its worldwide subsidiaries for $166
million. The company said that it expects to financial the acquisition with a
combination of cash and a new asset-based revolving credit facility from Wells
Fargo Capital Finance LLC. Audiovox shares have a 52-week range of $6.17-$9.74.
The stock is currently trading above its 50-day and 200-day moving averages. In
the last one year, Audiovoxx shares gained 16.12%. Hauppauge, New York-based
Audiovox is engaged in marketing of products under the Audiovox brand name. Glu
Mobile Inc. ( NASDAQ: GLUU ) will announce its fourth-quarter financial results
after market close today. Ahead of the announcement, shares of Glu Mobile are
seeing a huge rally in today's trading. The small cap stock reached a 52-week
high of $3.73 in early trading, and at last check, it was up 7.76% to $3.61,
with volume up from daily average of 1.61 million to 1.88 million. Glu Mobile
shares have a 52-week range of $0.85-$3.73. The stock is currently trading above
its 50-day and 200-day moving averages. San Mateo, California-based Glu Mobile
is a designer, marketer, and seller of games for mobile phones. This corporate
profile is provided for information purposes only and should not be used as the
basis for any investment decision. We are neither licensed nor qualified to
provide investment advice. We were not paid, nor do we hold a position in these
stocks. We reserve the right to buy or sell any stock mentioned in this report
at any time after this post.
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