Boston, MA -- (SBWIRE) -- 08/16/2013 -- 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: (Brocade Communications Systems, Inc.(NASDAQ:BRCD), Synovus Financial Corp. (NYSE:SNV), US Airways Group, Inc.(NYSE:LCC), Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX)
Brocade Communications Systems, Inc.(NASDAQ:BRCD) shares dropped 1.03% to $7.91. The company on August 13 said its fiscal third-quarter profit more than doubled as the manufacturer of data and storage-networking products recorded a $76.8 million litigation settlement gain, as well as higher margins.
For the quarter ended July 27, Brocade reported a profit of $118.7 million, or 26 cents a share, up from $43.3 million, or nine cents a share, a year earlier. Adjusted per-share earnings rose to 19 cents from 14 cents. Revenue slid 3.4%, to $536.6 million. In May, Brocade projected an adjusted per-share profit between 11 cents to 13 cents on revenue of $510 million to $530 million.
Is BRCD A Strong Buy? Get Advantage Of Our Free Trend Analysis Here
Synovus Financial Corp. (NYSE:SNV) stock decreased 0.58% to $3.42 in the last trading session. 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
US Airways Group, Inc.(NYSE:LCC) shares dropped 2.78% to $15.72. US Airways Group Inc and American Airlines vowed on August 14 to fight the federal government's anti-trust lawsuit in court by arguing their proposed $11 billion merger would promote competition. The U.S. Department of Justice, six state attorneys general and the District of Columbia challenged the proposed merger on Tuesday saying the creation of the world's largest airline that would result would stifle competition, drive up airfares and reduce services.
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Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) shares declined 7.16% to $115.34. The company on August 8 reported its financial results for the second quarter 2013 and provided a business update on Kyprolis® (carfilzomib) for Injection, Nexavar® (sorafenib) tablets and Stivarga® (regorafenib) tablets.
Total revenue of $153.0 million for the second quarter of 2013 represented a 110% increase from total revenue of $72.7 million for the comparable period in 2012. On June 30, 2013, cash, cash equivalents and current and non-current marketable securities were $755.9 million, compared to $492.8 million at December 31, 2012.
How Should Investors Trade ONXX After The Recent Volatility? Get Free Report Here
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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