Boston, MA -- (SBWIRE) -- 08/14/2013 -- 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: (Frontier Communications Corp(NASDAQ:FTR), Laredo Petroleum Holdings Inc (NYSE:LPI), Synovus Financial Corp. (NYSE:SNV), Cliffs Natural Resources Inc(NYSE:CLF)
Frontier Communications Corp(NASDAQ:FTR) shares increased 1.94% to $4.74. The company on August 7 said it swung to a second-quarter loss as the company posted $159.8 million in early debt-extinguishment losses. The company reported a loss of $38.5 million, or four cents a share, compared with year-earlier earnings of $18 million, or two cents a share. Adjusted earnings were down at six cents from eight cents. Revenue decreased 5.4% to $1.19 billion. Analysts recently expected per-share profit of six cents and revenue of $1.19 billion.
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Laredo Petroleum Holdings Inc (NYSE:LPI) shares dropped 4.52% and closed at $23.25 in the last trading session. The company on August 12 announced the commencement of an underwritten public offering of 16,000,000 shares of its common stock. The Company is offering 13,000,000 shares of common stock, and certain affiliates of Warburg Pincus LLC and members of the Company's management are offering an additional 3,000,000 shares of common stock.
Additionally, the company on August 8 announced second-quarter results, reporting net income attributable to common stockholders of $35.8 million, or $0.27 per diluted share. Adjusted net income, a non-GAAP financial measure, for the quarter was $21.1 million, or $0.16 per diluted share.
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Synovus Financial Corp. (NYSE:SNV) stock climbed 1.78% to $3.44. The company on July 22 announced the commencement of an underwritten public offering of $130 million of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C. Synovus intends to use the net proceeds from the offering together with the proceeds of its recently announced $185 million common stock offering and internally available funds (including a $680 million dividend from its wholly owned subsidiary, Synovus Bank) to fund the redemption of all 967,870 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, issued to the U.S. Treasury through the Capital Purchase Program established under the Troubled Asset Relief Program ("TARP"), for an aggregate purchase price of $967.87 million.
Is SNV A Good Buy After The Recent Price Movement? Find Out Here
Cliffs Natural Resources Inc(NYSE:CLF) shares decreased 1.64% to $23.92. The company on July 25 reported second-quarter results for the period ended June 30, 2013. Consolidated revenues of $1.5 billion decreased $91 million, or 6%, from the previous year. The lower revenues were driven by an 11% decrease in global seaborne iron ore pricing to an average of $126 per ton for a 62% Fe fines product (C.F.R. China). Cost of goods sold increased by 7% to $1.2 billion, primarily driven by higher sales volumes in North American Coal and U.S. Iron Ore, unfavorable inventory adjustments and higher idle costs.
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Here at Winston 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. We focus on companies that we feel are trading at a discount to the market for various reasons. Enter your email and track our performance! We are sure you won’t be disappointed.
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