Yeah this line was coined by my boy 50 Cent for awhile. And word on da street...wall street that is...was that Fiddy was on Cavuto, a financial show probably showing off his investment muscle. Now I haven't seen the clip of his on the show but can he have time to be making the returns that we are over here at Urbanomics. Maybe after his stake in Vitamin Water got bought out, but we bring the platinum picks and he brings the platinum hits.
Today I wanted to write about Emcore (NASDAQ:EMKR), if you have been patient with us...and btw you haven't had to wait long, we hit our target already. Yes boys and girls, EMKR was up around 8% on no news that I am aware of. This volatile stock, was a short term pick of mine and for anyone following I am selling EMKR here. This is a quick 10% gain and I will look to revisit my friend EMKR when it declines back to a price around $10. I would Superman this stock back at the $9.15 level and be a strong accumulator around 9.79.
Lastly I spoke to soon on Adaptec (NASDAQ:ADPT) by about a day or two. I was getting some weird stock chart readings on ADPT and it didn't jump like I had expected. But here is the good news, ADPT reported earnings and beat estimates by .05c. That led the stock higher and if you read into the earning release by the CEO, you will also notice what I call is a subtle hint at good things to come for us. Attached is the comments, provided by Market Wire:
"While our top line results were above the company's expectations, we continue to face difficult market conditions," explained S. "Sundi" Sundaresh, president and CEO of Adaptec. "Despite these challenges, the company has made significant progress during the quarter in several key areas: our restructuring plan announced last quarter is on track to fully realize the expected savings by the end of the fiscal year; our Data Protection and Storage Solutions groups have each released new products and the early indicators of customer reaction are positive; and we reached an agreement with Steel Partners, and together, I expect, we will pursue a course designed to maximize value for all of our stockholders."
Urbanomic readers, I know one thing and when companies align with Private Equity firms to MAXIMIZE VALUE...that usually means great things for stockholders because they lead to buyouts, stock buyback programs, splitting up the company, or anything that makes them money. Hope you jumped all aboard ADPT, b/c again you could have had ADPT at 3.40 today which is the price that I have REPEATEDLY said is a great level to continue to add shares.
Enjoy the quick hit gain with EMKR and lets watch ADPT open higher tomorrow.
Disclosures: I sold EMKR today
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