Boston, MA -- (SBWIRE) -- 09/05/2013 -- At winstonsmallcap.com we focus on undervalued companies trading under $5. Right now the markets are surging and we are seeing an opportunity in micro-cap companies like we have never seen before. Let have a Look on: (Hercules Offshore, Inc.(NASDAQ:HERO), Hovnanian Enterprises, Inc. (NYSE:HOV), Globus Medical Inc (NYSE:GMED), Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR)
Hercules Offshore, Inc.(NASDAQ:HERO) shares climbed 2.06% to $7.42. Wunderlich Securities analyst Todd P. Scholl initiated coverage on Hercules Offshore on Sept. 4 with a Buy rating and $13.00 price target.
Additionally, the company, on Sept. 3, announced that it has signed a contract with Cairn India Limited for use of the Hercules Triumph (formerly Discovery Triumph) in the Indian Ocean. Total contract value is approximately $36.6 million, which includes approximately $13 million of mobilization and demobilization fees, to be earned over an estimated 110 days. Contract commencement is expected in late October 2013.
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Hovnanian Enterprises, Inc. (NYSE:HOV) stock decreased 0.78% to $5.07. The company will begin trading ex-dividend on August 12, 2013. A cash dividend payment of $0.453125 per share is scheduled to be paid on August 15, 2013. Shareholders who purchased HOV stock prior to the ex-dividend date are eligible for the cash dividend payment.
Additionally, the company will release its third quarter results for the period ended July 31, 2013 in the morning of Monday, September 9, 2013. The Company will webcast its third quarter earnings conference call at 11:00 a.m. (ET) on Monday, September 9, 2013.
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Globus Medical Inc (NYSE:GMED) shares dropped 3.75% to $16.92. The company on August 1 announced its financial results for the quarter ended June 30, 2013. Second quarter net sales were $107.0 million, compared to $96.0 million last year, representing an 11.5% increase. Net income for the quarter was $7.4 million, or $0.08 per diluted share, as compared to $19.0 million, or $0.21 per diluted share, for the second quarter of 2012. Non-GAAP earnings per diluted share were $0.21 and $0.20 for the quarters ending June 30, 2013 and 2012, respectively.
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Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR) shares gained 5.11% to $5.66. The company on Sept 3 announced that it has entered into a settlement agreement with Actavis South Atlantic LLC and Actavis, Inc. (collectively, "Actavis") to resolve pending patent litigation in response to Actavis' abbreviated new drug application (ANDA) seeking approval to market generic versions of Avanir's NUEDEXTA® (dextromethorphan hydrobromide/quinidine sulfate) capsules. The settlement agreement grants Actavis the right to begin selling a generic version of NUEDEXTA on July 30, 2026, or earlier under certain circumstances.
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