Super Hot Stocks of the Week: Vringo, Regions Financial, Conns, Solazyme
Vringo, Inc. (AMEX:VRNG) shares are benefiting dramatically from a weekend article by James Altucher, which explored the financial possibilities the company could reap in its patent infringement lawsuit against Google (NASDAQ:GOOG). The speculation from Altucher that Vringo could land a settlement or ruling in the billions of dollars sent its shares up 86 percent on Monday, and more of the same seems to be the trend Tuesday.
Regions Financial Corp. (NYSE:RF) has closed on Raymond James Financial’s acquisition of its Morgan Keegan & Co. brokerage division.
Conns Inc. (NASDAQ:CONN) reveals the factors it used to develop its guidance. They include the retail gross margin which is projected to hit between 30.0 percent and 32.0 percent; a rising credit portfolio balance; its new store openings projected to be between five and seven new locations in new markets, with same store sales increasing towards 10 percent; its provision for bad debts that is projected to be between 5.0 percent and 6.0 percent of the average portfolio balance outstanding; and, its selling, general and administrative expense, as a percent of revenues, should be between 28.5 percent and 29.5 percent of total revenues.
Solazyme Inc (NASDAQ:SZYM), which produces biofuels, agrees to a joint venture with Brazilian agribusiness and food company Bunge (NYSE:BG), the purpose of which will be to build, own and operate a commercial-scale renewable tailored oils production facility. After partnering, Solazyme’s renewable tailored oil production technology, plus Bunge’s sugarcane supply and processing capabilities could annually produce up to 100,000 metric tons of sustainable tailored triglyceride oils for use in oleochemical and fuel applications. The financials of the deal were undisclosed.