Orlando, FL -- (SBWIRE) -- 10/01/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Polycom Inc (NASDAQ:PLCM), Copart, Inc.(NASDAQ:CPRT).
Polycom Inc (NASDAQ:PLCM) shares increased 2.63% to $10.92. The company on Sept. 16 announced that its Polycom® RealPresence® Platform is serving as the backbone of a secure video collaboration environment for members of the North Atlantic Treaty Organization (NATO), the alliance of 28 countries from Europe and North America focused on defense, security, and crisis management.
Additionally, the company on Sept. 11 announced that its Board of Directors has authorized the repurchase of $400 million, or approximately 20 percent of the Company's outstanding common stock, through a $250 million modified "Dutch Auction" self-tender offer and subsequent open market purchases or privately negotiated transactions. The Company expects to fund the program with $150 million in cash and a new $250 million term loan. The Company intends to launch the tender offer on September 13, 2013, and expects it will expire on October 30, 2013.
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Copart, Inc.(NASDAQ:CPRT) shares jumped 2.58% to $31.79. CPRT’s stock was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Sept. 23. The firm currently has a $42.00 price target on the stock, up from their previous price target of $38.00.
Additionally, the company on Sept. 24 reported financial results for the quarter and year ended July 31, 2013. For the three months ended July 31, 2013, revenue, operating income and net income were $263.7 million, $63.1 million and $41.3 million, respectively. These represent an increase in revenue of $37.1 million, or 16.4%; and decreases in operating income of $6.4 million, or 9.3%; and in net income of $3.6 million, or 8.0%, respectively, from the same quarter last year. Fully diluted earnings per share for the three months were $0.32 compared to $0.35 last year, a decrease of 8.6%.
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