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Friday, May 18, 2012

Thursday's NASDAQ Winners: KONG, SPWR, PAAS, HZNP

New York, NY - May 18, 2012 - www.InvestorIdeas.com, a global investor research portal for independent investors, reports on top percentage gainers on the NASDAQ for Thursday, May 17. The Nasdaq Composite fell another 60.35 (-2.10%) to close at the session’s low of 2,813.69.
KongZhong Corporation (ADR) (NASDAQ:KONG) gained 12.33% to $6.65 in the previous trading session after the company reported first quarter net income of $6.9 million or $0.16 per American Depositary Share, or ADS, as compared to a net loss of $456,000 or $0.01 per ADS in the same period last year. Non-GAAP net income for the quarter was $8.7 million or $0.21 per ADS. Revenues for the quarter rose 12% to $43.8 million from $40.1 million a year ago.
Looking forward, the company expects second quarter net profit in the range of $6.5 million-$7.5 million, non-GAAP net profit in the range of $9 million-$10 million and revenues in the range of $49 million-$50 million.
Solar stock SunPower Corporation (NASDAQ:SPWR) shares jumped 10.04% to end at $5.59. On May 15, 2012, Scottsdale Unified School District and SunPower Corp. celebrated the installation of 5.5 megawatts of high efficiency SunPower solar power systems at 11 District schools. The systems are expected to reduce the District's electricity costs by $25 million over the next 25 years.
Pan American Silver Corp. (USA) (NASDAQ:PAAS) gained 7.65% to close at $16.04. The company's first-quarter profit fell 46% as expenses tied to the acquisition of a Mexican gold and silver operation masked a jump in revenue. The company posted a first quarter profit of $50.2 million, or $0.47 a share, as compared to $92.7 million, or $0.86 a share, a year earlier. Adjusted earnings fell to $0.58 a share. Revenue jumped 20% to $228.8 million, primarily on higher realized precious metals prices. Analysts expected a $0.46 a share profit with $230 million of revenue.
Horizon Pharma Inc (NASDAQ:HZNP) added 7.07% without any official news. The 52-week trading range for the stock is $3.05 - $9.34. Horizon Pharma, Inc. is a biopharmaceutical company that develops and commercializes medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases.
Recently, the company released its first-quarter financial results. For the first quarter ended March 31, 2012, the company reported net sales of $2.5 million, as compared with $1.8 million reported for the same period in the previous year. The company's net loss for the quarter was $23.7 million, or $0.98 per share, compared with $7.7 million, or $5.13 per share reported for the same period in the previous year.
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